Company Registration No. 09323653 (England and Wales)
Pets Properties Limited
Unaudited accounts
for the year ended 31 December 2024
Pets Properties Limited
Unaudited accounts
Contents
Pets Properties Limited
Company Information
for the year ended 31 December 2024
Directors
J H Kenward
P A Brown
N L Davies
M C Smith
M W Fosbery
J P Camilleri
Company Number
09323653 (England and Wales)
Registered Office
Myrtle Cottage Taylors Lane
Morcombelake
Bridport
DT6 6ED
United Kingdom
Accountants
Simon John Christopher Ltd
1st Floor Suite, Drapers House
Market Place
Sturminster Newton
Dorset
DT10 1AS
Pets Properties Limited
Statement of financial position
as at 31 December 2024
Tangible assets
1,868
2,359
Investment property
1,753,197
1,753,197
Cash at bank and in hand
41,515
66,090
Creditors: amounts falling due within one year
(249,419)
(327,906)
Net current liabilities
(199,350)
(258,258)
Total assets less current liabilities
1,555,715
1,497,298
Provisions for liabilities
Deferred tax
(11,761)
(12,135)
Net assets
1,543,954
1,485,163
Called up share capital
600
600
Profit and loss account
1,543,354
1,484,563
Shareholders' funds
1,543,954
1,485,163
For the year ending 31 December 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by
J H Kenward
Director
Company Registration No. 09323653
Pets Properties Limited
Notes to the Accounts
for the year ended 31 December 2024
Pets Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 09323653. The registered office is Myrtle Cottage Taylors Lane, Morcombelake, Bridport, DT6 6ED, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with FRS 102 Section "The Financial Reporting Standard applicable in the UK and Republic of Ireland "(FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair value.
The financial statement are prepared in sterling, which is the functional currency of the company. Monetary amounts in the financial statements are rounded to the nearest £.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifiers as a small group. The financial statements present information about the company as an individual entity and not about it's group.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents amounts receivable for rent net of VAT.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
20% on cost
Investment property, which is included held to earn rentals and/or for capital appreciation, is initially recognised at cost which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the report end date. The surplus of deficit on revaluation is recognised in profit or loss.
Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Pets Properties Limited
Notes to the Accounts
for the year ended 31 December 2024
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction cost and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a fianancing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as received within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according o the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of it liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loan from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless that arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market value of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried as amortised cost, using effect interest rate method.
Trade creditors are obligations to pay for good and services that have been squired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are present as non-current liabilities. Trade creditors are recognised initially at transaction price an subsequently measured as amortised cost using the effect interest method.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Pets Properties Limited
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Computer equipment
Fair value at 1 January 2024
1,753,197
At 31 December 2024
1,753,197
The investment property was acquired from the subsidiary Pet Emergency Treatment Services Limited in 2016. In the option of the directors, the current market value of these investment properties is not materially different to cost.
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
20,464
24,095
Loans from directors
225,446
283,575
The company's parent company is PPL Holdco Limited, a company incorporated in England and Wales. The financial statement for PPL Holdco Limited can be obtained from their registered office which is Myrtle Cottage, Taylors Lane, Morcombelake Bridport, Dorset, United Kingdom DT6 6ED.
Pets Properties Limited
Notes to the Accounts
for the year ended 31 December 2024
9
Average number of employees
During the year the average number of employees was 6 (2023: 6).