Britpets Limited 12190635 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is retail of pet related products. Digita Accounts Production Advanced 6.30.9574.0 true true 12190635 2023-09-01 2024-08-31 12190635 2024-08-31 12190635 core:RetainedEarningsAccumulatedLosses 2024-08-31 12190635 core:ShareCapital 2024-08-31 12190635 core:CurrentFinancialInstruments 2024-08-31 12190635 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 12190635 core:OtherPropertyPlantEquipment 2024-08-31 12190635 bus:SmallEntities 2023-09-01 2024-08-31 12190635 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 12190635 bus:FilletedAccounts 2023-09-01 2024-08-31 12190635 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 12190635 bus:RegisteredOffice 2023-09-01 2024-08-31 12190635 bus:Director1 2023-09-01 2024-08-31 12190635 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12190635 core:OfficeEquipment 2023-09-01 2024-08-31 12190635 core:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 12190635 countries:AllCountries 2023-09-01 2024-08-31 12190635 2023-08-31 12190635 core:OtherPropertyPlantEquipment 2023-08-31 12190635 2022-09-01 2023-08-31 12190635 2023-08-31 12190635 core:RetainedEarningsAccumulatedLosses 2023-08-31 12190635 core:ShareCapital 2023-08-31 12190635 core:CurrentFinancialInstruments 2023-08-31 12190635 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 12190635 core:OtherPropertyPlantEquipment 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 12190635

Britpets Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Britpets Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Britpets Limited

Company Information

Director

Mr J A Brown

Registered office

8 High Street
Heathfield
East Sussex
TN21 8LS

Accountants

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

Britpets Limited

(Registration number: 12190635)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

133

Current assets

 

Stocks

5

32,195

42,969

Debtors

6

2,816

722

Cash at bank and in hand

 

127,473

134,424

 

162,484

178,115

Creditors: Amounts falling due within one year

7

(17,554)

(37,140)

Net current assets

 

144,930

140,975

Net assets

 

144,930

141,108

Capital and reserves

 

Called up share capital

1

1

Retained earnings

144,929

141,107

Shareholders' funds

 

144,930

141,108

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 January 2025
 

 

Britpets Limited

(Registration number: 12190635)
Balance Sheet as at 31 August 2024

.........................................
Mr J A Brown
Director

 

Britpets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
8 High Street
Heathfield
East Sussex
TN21 8LS
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Britpets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33.33% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

 

Britpets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Britpets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

399

399

At 31 August 2024

399

399

Depreciation

At 1 September 2023

266

266

Charge for the year

133

133

At 31 August 2024

399

399

Carrying amount

At 31 August 2024

-

-

At 31 August 2023

133

133

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

32,195

42,969

6

Debtors

2024
£

2023
£

Taxation and social security

2,346

-

Other debtors

-

57

Director loan account

470

665

2,816

722

7

Creditors

Creditors: amounts falling due within one year

 

Britpets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

2024
£

2023
£

Due within one year

Taxation and social security

16,154

35,740

Accruals and deferred income

1,400

1,400

17,554

37,140