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Registration number: 05653527

Pets' Kitchen Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 July 2024

 

Pets' Kitchen Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 5

 

Pets' Kitchen Limited

(Registration number: 05653527)
Abridged Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

413,048

539,676

Tangible assets

5

1,298,348

1,440,383

 

1,711,396

1,980,059

Current assets

 

Stocks

63,650

726,707

Debtors

874,255

1,540,452

Cash at bank and in hand

 

901,834

99,109

 

1,839,739

2,366,268

Creditors: Amounts falling due within one year

(702,510)

(1,483,663)

Net current assets

 

1,137,229

882,605

Total assets less current liabilities

 

2,848,625

2,862,664

Creditors: Amounts falling due after more than one year

(1,616,598)

(1,871,606)

Net assets

 

1,232,027

991,058

Capital and reserves

 

Called up share capital

29,886

29,886

Share premium reserve

3,703,920

3,703,920

Profit and loss account

(2,501,779)

(2,742,748)

Total equity

 

1,232,027

991,058

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

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 directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 29 April 2025 and signed on its behalf by:
 

Mr R Penston

Director

Ms J Silvester

Director

 

Pets' Kitchen Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
Unit 3 Callenders
Paddington Drive
Swindon
SN5 7YW

These financial statements were authorised for issue by the Board on 29 April 2025.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged 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.

Going concern

The financial statements have been prepared on a going concern basis. The Directors have refocussed efforts on the core veterinary Klinic division and continue to focus upon growing turnover and reducing costs. The Directors monitor cash flow and are satisfied that the company has sufficient cash flow to enable it to continue to meet its liabilities as they fall due for the foreseeable future.

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 the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred 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.

The current 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.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

Pets' Kitchen Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

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

Tenant improvements

over the remaining term of the lease

Plant and machinery

25% straight line

Fixtures, fittings & equipment

25% straight line

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences, computer software and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents and trademarks

over estimated useful life of 10 years

Computer software

over 5 years straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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 stocks 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 53 (2023 - 51).

 

Pets' Kitchen Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

4

Intangible assets

Total
£

Cost or valuation

At 1 August 2023

638,350

Additions internally developed

454

Disposals

(1,090)

At 31 July 2024

637,714

Amortisation

At 1 August 2023

98,675

Amortisation charge

126,412

Amortisation eliminated on disposals

(421)

At 31 July 2024

224,666

Carrying amount

At 31 July 2024

413,048

At 31 July 2023

539,676

5

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 August 2023

1,431,680

436,613

115,247

1,983,540

Additions

-

18,190

-

18,190

Disposals

-

(48,016)

(115,247)

(163,263)

At 31 July 2024

1,431,680

406,787

-

1,838,467

Depreciation

At 1 August 2023

227,219

216,772

99,165

543,156

Charge for the year

67,834

69,595

10,410

147,839

Eliminated on disposal

-

(41,301)

(109,575)

(150,876)

At 31 July 2024

295,053

245,066

-

540,119

Carrying amount

At 31 July 2024

1,136,627

161,721

-

1,298,348

At 31 July 2023

1,204,461

219,840

16,082

1,440,383

6

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £1,280,225 (2023 - £1,352,816). The amounts owed under the lease agreement are secured over the premises occupied by the company.

 

Pets' Kitchen Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

7

Related party transactions

Advances to directors

Summary of transactions with other related parties

The shareholders issued a loan to the company on 1 November 2023 of £350,000 with an interest rate of 12%. Included in this loan were amounts totalling £135,000 from Directors, or their close family members. The loan is repayable on 27 October 2025. The balance remains outstanding at the year end.

During the year, two shareholder loans totalling £575,000 that were outstanding in 2023 accounts, were repaid in full.