REGISTERED NUMBER: 08310848 (England and Wales)

PET PROFESSIONALS (FRANCHISING) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2024

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Mr D S Babington

Mr S J Chater

REGISTERED OFFICE:

10 The Street

Liddington

SWINDON

Wiltshire

SN4 0HD

REGISTERED NUMBER:

08310848 (England and Wales)

ACCOUNTANTS:

Morris Owen

Chartered Accountants

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

BANKERS:

Santander UK plc

Bridle Road

Bootle

Merseyside

L30 4GB

FIXED ASSETS

Intangible assets

4

69,873

69,873

Tangible assets

5

900

287

70,773

70,160

CURRENT ASSETS

Stocks

8,115

8,115

Debtors

6

639

358

Cash at bank

331

615

9,085

9,088

CREDITORS

Amounts falling due within one year

7

208,220

199,269

NET CURRENT LIABILITIES

(199,135

)

(190,181

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(128,362

)

(120,021

)

PROVISIONS FOR LIABILITIES

-

54

NET LIABILITIES

(128,362

)

(120,075

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

(128,462

)

(120,175

)

SHAREHOLDERS' FUNDS

(128,362

)

(120,075

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th August 2025 and were signed on its behalf by:

Mr D S Babington - Director

1.	STATUTORY INFORMATION

Pet Professionals (Franchising) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08310848

Registered office: 10 The Street, Liddington, Swindon, Wiltshire, SN4 0HD

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

- Determine an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st January 2024

and 31st December 2024

69,873

NET BOOK VALUE

At 31st December 2024

69,873

At 31st December 2023

69,873

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2024

13,370

Additions

900

At 31st December 2024

14,270

DEPRECIATION

At 1st January 2024

13,083

Charge for year

287

At 31st December 2024

13,370

NET BOOK VALUE

At 31st December 2024

900

At 31st December 2023

287

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

7

Other debtors

639

351

639

358

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,189

252

Other creditors

207,031

199,017

208,220

199,269

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100