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Registration number: 07085065

Petals, Pets & Paws Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 January 2025

Petals, Pets & Paws Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 7

Petals, Pets & Paws Limited

Company Information

Directors | Mrs C E Jebson Mrs A Stephens

Registered office | 34 St Nicholas Drive Hornsea East Yorkshire HU18 1EW

Petals, Pets & Paws Limited

(Registration number: 07085065)
Balance Sheet as at 31 January 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 3,247 | 4,610
Current assets |  |  |
Stocks | 5 | 17,385 | 15,805
Debtors | 6 | - | 5,473
Cash at bank and in hand |  | 16,350 | 2,107
|  | 33,735 | 23,385
Creditors: Amounts falling due within one year | 7 | (120,149) | (114,028)
Net current liabilities |  | (86,414) | (90,643)
Net liabilities |  | (83,167) | (86,033)
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | (83,267) | (86,133)
Shareholders' deficit |  | (83,167) | (86,033)

For the financial year ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 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. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 August 2025 and signed on its behalf by:

......................................... Mrs C E Jebson Director

Petals, Pets & Paws Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1 | General information

The company is a private company limited by share capital incorporated in England & Wales and the company registration number is 07085065.

The address of its registered office is:
34 St Nicholas Drive
Hornsea
East Yorkshire
HU18 1EW

The principal place of business is:
4 New Road
Hornsea
East Yorkshire
HU18 1PF

These financial statements were authorised for issue by the Board on 27 August 2025.

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 financial statements are presented in sterling and are rounded to the nearest pound.

Going concern

The directors recognise that there is concern over the ability of the company to continue as a going concern due to the insolvent balance sheet of £83,167 (2024: £86,033). This is mainly due to the director's loan account balance of £114,156 (2024: £110,792) but the directors have confirmed that they will not seek repayment until there are sufficient funds to do so.
The directors have a reasonable expectation that the company's financial position will improve and the directors and shareholders have confirmed they will continue to support the company and as a result the financial statements have been prepared on a going concern basis.

Petals, Pets & Paws Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of flowers,fruit and vegetable and pet products 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 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 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.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Plant and machinery | 25% on cost (fully depreciated)
Equipment, fixtures and fittings | 25% on cost
Motor vehicles | 25% on cost

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.

Petals, Pets & Paws Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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 Directors) during the year, was 5 (2024 - 5).

Petals, Pets & Paws Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4 | Tangible assets

| Fixtures and fittings £ | Plant and machinery £ | Motor vehicles £ | Total £
Cost or valuation
At 1 February 2024 | 2,784 | 1,000 | 11,460 | 15,244
At 31 January 2025 | 2,784 | 1,000 | 11,460 | 15,244
Depreciation
At 1 February 2024 | 2,504 | 1,000 | 7,130 | 10,634
Charge for the year | 280 | - | 1,083 | 1,363
At 31 January 2025 | 2,784 | 1,000 | 8,213 | 11,997
Carrying amount
At 31 January 2025 | - | - | 3,247 | 3,247
At 31 January 2024 | 280 | - | 4,330 | 4,610

5 | Stocks

| 2025 £ | 2024 £
Other inventories | 17,385 | 15,805

6 | Debtors

| 2025 £ | 2024 £
Other debtors | - | 5,473
| - | 5,473

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 8 | 114,156 | 110,792
Trade creditors |  | 1,876 | -
Taxation and social security |  | 2,072 | 173
Accruals and deferred income |  | 2,045 | 1,778
Other creditors |  | - | 1,285
|  | 120,149 | 114,028

Petals, Pets & Paws Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

8 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Other borrowings | 114,156 | 110,792

Other borrowings relate to unsecured directors loan accounts.

9 | Related party transactions

Other transactions with directors

At the year end the company owed the directors £114,156 (2024: £110,792). This amount is unsecured, interest free and repayable on demand.