REGISTERED NUMBER: 07328710 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PETSHOPBOWL LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

15

DIRECTORS:

Mrs A Taylor

A Taylor

REGISTERED OFFICE:

Unit A5 Precision Business Park

100 Masons Road

Stratford upon Avon

Warwickshire

CV37 9BY

REGISTERED NUMBER:

07328710 (England and Wales)

AUDITORS:

HB&O Ltd

Chartered Accountants and Statutory Auditor

Highdown House

11 Highdown Road

Leamington Spa

Warwickshire

CV31 1XT

BANKERS:

Santander

3rd Floor

1 Cornwall Street

Birmingham

B32DX

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS

The directors present the results for the year, which are attached in the annexed financial statements. The company has made an operating profit for the year, which is considered to be a good result in what remains a very challenging trading environment.

The business delivered a 7% increase in revenue in 2024, but also the rise in costs has put pressure on the profitability of the business. 2024 was characterised by macro-economic factors such as the Cost of Living crisis and inflationary pressures which are continuing to put household budgets under strain, with families having less disposable income than before. The directors continue to apply a cautious approach to cost management and we are satisfied that the underlying trading operations of the company remain solid.

The directors maintain a positive outlook for the industry and the company.

Highlights

Despite continued inflationary pressures on purchase costs, we continue to make progress on the more controllable costs the business is facing, particularly:

1. Focus on employee productivity improvement through the introduction of our second automated parcel packaging line in Q4 2024.

2. Investment in price to continue attracting new customers.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors consider the following to be the main risks that the company is exposed to with measure in place to mitigate any related impact that may arise in the ordinary course of the company's business.

Liquidity risk - This is defined as financial risk due to uncertain liquidity. This is managed by The Company with a short term credit line.

Operational risks - This is defined as the risk of loss arising from inadequate or failed internal processes or systems. This is managed by The Company through the utilisation of a system of controls which are reviewed on an on-going basis by the management.

Technology risks - This is defined as the risk arising from the rapidly changing online landscape, with the introduction of AI changing consumer shopping habits. This is managed by the company by being early adopters of new technologies, diversifying acquisition channels and focusing on customer retention.

Going concern

The directors are confident that the company will still be trading at a sustainable level in the forthcoming 12 months and beyond. Latest management accounts indicate the company is recording a profit in line with its budgets.

As such, the directors believe the company to be a going concern and have adopted this assumption in preparing the financial statements, having considered any material uncertainties in this regard for a period of at least 12 months from the date of approval of these financial statements.

FUTURE DEVELOPMENTS

Management have ambitious growth plans for the business with several exciting developments planned for FY25. We will continue to invest in our website presence, new acquisition channels, new product offering and technology to drive revenue and profit, whilst focusing on our core competencies of delivering great and reliable customer service.

ON BEHALF OF THE BOARD:

Mrs A Taylor - Director

26 September 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the online sale of pet food.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 will be £ 160,000 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Mrs A Taylor

A Taylor

CHARITABLE DONATIONS AND EXPENDITURE

The company made a charitable donation of £6,051 during the year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

Mrs A Taylor - Director

26 September 2025

Opinion

We have audited the financial statements of Petshopbowl Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The audit process includes an assessment of the entity's risk environment, through enquiry of and discussion with management, including an assessment of any key laws and regulations with which the company must comply in the ordinary course of its business.

Additionally, the overall risks of irregular transactions occurring are assessed following our observations and confirmation of the design and implementation of management's controls. Whilst we are mindful of these risks, our audit focus is geared towards the risk of material misstatement in the financial statements as a whole.

As such, our procedures cannot guarantee that all transactions have been fully compliant with all relevant laws and regulations, including those regulations relating to fraud, as our procedures are not designed to detect all instances of non-compliance. By definition, the risk of our detection of non-compliance is greater where compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. The risk is also greater regarding irregularities due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Ashfield (Senior Statutory Auditor)

for and on behalf of HB&O Ltd

Chartered Accountants and Statutory Auditor

Highdown House

11 Highdown Road

Leamington Spa

Warwickshire

CV31 1XT

26 September 2025

TURNOVER

3

23,954,032

22,434,746

Cost of sales

20,233,021

18,933,351

GROSS PROFIT

3,721,011

3,501,395

Administrative expenses

3,581,683

3,150,490

139,328

350,905

Other operating income

91,154

81,695

OPERATING PROFIT

5

230,482

432,600

Interest receivable and similar income

910

263

231,392

432,863

Interest payable and similar expenses

6

144,935

153,312

PROFIT BEFORE TAXATION

86,457

279,551

Tax on profit

7

45,139

63,519

PROFIT FOR THE FINANCIAL YEAR

41,318

216,032

PROFIT FOR THE YEAR

41,318

216,032

OTHER COMPREHENSIVE INCOME

Revaluation

(44,000

)

(44,000

)

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

(44,000

)

(44,000

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(2,682

)

172,032

FIXED ASSETS

Intangible assets

9

-

44,000

Tangible assets

10

399,885

248,207

399,885

292,207

CURRENT ASSETS

Stocks

11

2,230,100

2,281,261

Debtors

12

890,809

763,856

Cash at bank and in hand

227,280

201,508

3,348,189

3,246,625

CREDITORS

Amounts falling due within one year

13

3,477,111

3,091,899

NET CURRENT (LIABILITIES)/ASSETS

(128,922

)

154,726

TOTAL ASSETS LESS CURRENT LIABILITIES

270,963

446,933

CREDITORS

Amounts falling due after more than one year

14

(39,004

)

(94,738

)

PROVISIONS FOR LIABILITIES

18

(92,708

)

(50,262

)

NET ASSETS

139,251

301,933

CAPITAL AND RESERVES

Called up share capital

19

1,042

1,042

Share premium

20

99,925

99,925

Revaluation reserve

20

11,140

56,612

Retained earnings

20

27,144

144,354

SHAREHOLDERS' FUNDS

139,251

301,933

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

Mrs A Taylor - Director

Called up

share

Retained

Share

Revaluation

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 January 2023

1,042

86,850

99,925

102,084

289,901

Changes in equity

Dividends

-

(160,000

)

-

-

(160,000

)

Total comprehensive income

-

217,504

-

(45,472

)

172,032

Balance at 31 December 2023

1,042

144,354

99,925

56,612

301,933

Changes in equity

Dividends

-

(160,000

)

-

-

(160,000

)

Total comprehensive income

-

42,790

-

(45,472

)

(2,682

)

Balance at 31 December 2024

1,042

27,144

99,925

11,140

139,251

Cash flows from operating activities

Cash generated from operations

1

213,604

711,372

Interest paid

(142,281

)

(150,450

)

Interest element of hire purchase payments paid

(2,654

)

(2,862

)

Tax paid

(56,329

)

(262

)

Net cash from operating activities

12,340

557,798

Cash flows from investing activities

Purchase of tangible fixed assets

(249,761

)

(100,204

)

Interest received

910

263

Net cash from investing activities

(248,851

)

(99,941

)

Cash flows from financing activities

New loans in year

4,240,000

3,350,000

Loan repayments in year

(3,706,852

)

(3,662,963

)

Capital repayments in year

(5,888

)

(5,888

)

Amount introduced by directors

3,177

82,407

Amount withdrawn by directors

(107,000

)

(97,500

)

Equity dividends paid

(160,000

)

(160,000

)

Net cash from financing activities

263,437

(493,944

)

Increase/(decrease) in cash and cash equivalents

26,926

(36,087

)

Cash and cash equivalents at beginning of year

2

198,560

234,647

Cash and cash equivalents at end of year

2

225,486

198,560

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024

2023

£

£

Profit before taxation

86,457

279,551

Depreciation charges

98,083

85,873

Finance costs

144,935

153,312

Finance income

(910

)

(263

)

328,565

518,473

Decrease/(increase) in stocks

51,161

(362,880

)

(Increase)/decrease in trade and other debtors

(111,254

)

35,470

(Decrease)/increase in trade and other creditors

(54,868

)

520,309

Cash generated from operations

213,604

711,372

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

227,280

201,508

Bank overdrafts

(1,794

)

(2,948

)

225,486

198,560

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

201,508

234,647

Bank overdrafts

(2,948

)

-

198,560

234,647

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

201,508

25,772

227,280

Bank overdrafts

(2,948

)

1,154

(1,794

)

198,560

26,926

225,486

Debt

Finance leases

(25,626

)

5,888

(19,738

)

Debts falling due within 1 year

(418,539

)

(583,148

)

(1,001,687

)

Debts falling due after 1 year

(75,000

)

50,000

(25,000

)

(519,165

)

(527,260

)

(1,046,425

)

Total

(320,605

)

(500,334

)

(820,939

)

1.	STATUTORY INFORMATION

Petshopbowl Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

At the balance sheet date the company had net current liabilities of £128,922 (2023 - net current assets of £154,726). The directors have expressed their willingness to support the company as necessary and, along with the forecasted future profitable trade, the business is considered to be a going concern. The accounts and financial statements have therefore been prepared on a going concern basis.

Critical accounting judgements and key sources of estimation uncertainty

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

Accounting judgements:

i) Operating leases

The company utilises assets which it does not own and pays for on an ongoing basis. In making the judgement as to whether such arrangements constitute finance leases or operating leases, management have assessed where the substantial risk and rewards of the ownership of the assets fall, and assessed that the counter-party, rather than the company, bears substantially all of the risks and rewards of ownership of the assets.

Turnover

Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business.

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on despatch of the goods.

Commissions received

Commission received are recognised upon the company meeting the terms of the agreements with its suppliers when the company becomes legally entitled to the commission from partner suppliers.

Intangible assets

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

The customer list is considered to have an indefinite useful life and the directors perform an annual impairment review.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Domain names

-

Straight line over 15 years

Plant and machinery

-

25% on cost

Fixtures & fittings

-

25% on cost

Motor vehicles

-

25% on cost

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

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2024

2023

£

£

Sale of goods

22,656,700

21,421,080

Sales commission

1,297,332

1,013,666

23,954,032

22,434,746

An analysis of turnover by geographical market is given below:

2024

2023

£

£

United Kingdom

23,954,032

22,387,567

Asia

-

47,179

23,954,032

22,434,746

4.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

1,652,581

1,649,082

Social security costs

126,966

94,875

Other pension costs

28,286

24,651

1,807,833

1,768,608

The average number of employees during the year was as follows:

2024

2023

Warehouse and administration

69

79

2024

2023

£

£

Directors' remuneration

25,140

23,562

5.	OPERATING PROFIT

The operating profit is stated after charging:

2024

2023

£

£

Depreciation - owned assets

89,306

75,051

Depreciation - assets on hire purchase contracts

8,777

10,822

Auditors' remuneration

6,000

6,000

Operating leases - rent of land and buildings

100,879

110,050

Operating leases - other

6,097

6,251

Operating leases - equipment & software

98,241

-