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Registered number: 14113923
West Country Pets Ltd
Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14113923
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 122,304 122,304
Tangible Assets 5 50,712 60,802
173,016 183,106
CURRENT ASSETS
Stocks 85,000 80,000
Cash at bank and in hand - 4,997
85,000 84,997
Creditors: Amounts Falling Due Within One Year 6 (305,771 ) (265,486 )
NET CURRENT ASSETS (LIABILITIES) (220,771 ) (180,489 )
TOTAL ASSETS LESS CURRENT LIABILITIES (47,755 ) 2,617
Creditors: Amounts Falling Due After More Than One Year 7 (58,000 ) (78,400 )
NET LIABILITIES (105,755 ) (75,783 )
CAPITAL AND RESERVES
Called up share capital 2 2
Profit and Loss Account (105,757 ) (75,785 )
SHAREHOLDERS' FUNDS (105,755) (75,783)
Page 1
Page 2
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Daniel Baseley
Director
17 April 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
West Country Pets Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14113923 . The registered office is 4 Victoria Square, Holsworthy, EX22 6AA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is not amortised to profit and loss account.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 18% Reducing balance
Motor Vehicles 18% Reducing balance
Fixtures & Fittings 18% Reducing balance
Computer Equipment 18% Reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 11 (2023: 11)
11 11
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Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2023 122,304
As at 31 October 2024 122,304
Net Book Value
As at 31 October 2024 122,304
As at 1 November 2023 122,304
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2023 17,017 14,890 38,643 3,599 74,149
Additions 1,041 - - - 1,041
As at 31 October 2024 18,058 14,890 38,643 3,599 75,190
Depreciation
As at 1 November 2023 3,063 2,680 6,956 648 13,347
Provided during the period 2,699 2,198 5,703 531 11,131
As at 31 October 2024 5,762 4,878 12,659 1,179 24,478
Net Book Value
As at 31 October 2024 12,296 10,012 25,984 2,420 50,712
As at 1 November 2023 13,954 12,210 31,687 2,951 60,802
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 47,207 92,850
Bank loans and overdrafts 7,657 -
Other creditors 247,136 170,615
Taxation and social security 3,771 2,021
305,771 265,486
Page 4
Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 20,400
Other loans 58,000 58,000
58,000 78,400
Page 5