1 April 2024 v2025.82.1 limited_company_frs_102_section_1a_v1_1_3 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP067932052024-04-012025-03-31067932052025-03-31067932052024-03-3106793205core:WithinOneYear2025-03-3106793205core:WithinOneYear2024-03-3106793205core:ShareCapital2025-03-3106793205core:ShareCapital2024-03-3106793205core:RevaluationReserve2025-03-3106793205core:RevaluationReserve2024-03-3106793205core:RetainedEarningsAccumulatedLosses2025-03-3106793205core:RetainedEarningsAccumulatedLosses2024-03-3106793205bus:Director12024-04-012025-03-3106793205bus:RegisteredOffice2024-04-012025-03-3106793205core:LandBuildings2024-04-012025-03-3106793205core:FurnitureFittings2024-04-012025-03-3106793205core:OfficeEquipment2024-04-012025-03-31067932052023-04-012024-03-3106793205core:LandBuildings2024-04-0106793205core:PlantMachinery2024-04-01067932052024-04-0106793205core:PlantMachinery2024-04-012025-03-3106793205core:LandBuildings2025-03-3106793205core:PlantMachinery2025-03-3106793205core:LandBuildings2024-03-310679320512024-04-012025-03-3106793205countries:EnglandWales2024-04-012025-03-3106793205bus:AuditExemptWithAccountantsReport2024-04-012025-03-3106793205bus:PrivateLimitedCompanyLtd2024-04-012025-03-3106793205bus:SmallEntities2024-04-012025-03-3106793205bus:FullAccounts2024-04-012025-03-31
Company registration number:
06793205
Pet Stop Limited
Unaudited Filleted Financial Statements for the year ended
31 March 2025
Pet Stop Limited
Statement of Financial Position
31 March 2025
20252024
Note££
Fixed assets    
Tangible assets 5
322,933
 
295,875
 
Current assets    
Debtors 6
47,800
 
12,730
 
Cash at bank and in hand
21,917
 
5,463
 
69,717
 
18,193
 
Creditors: amounts falling due within one year 7
(165,085
 )
(5,606
 )
Net current (liabilities)/assets
(95,368
 )
12,587
 
Total assets less current liabilities 227,565   308,462  
Provisions for liabilities
(25,000
 )
(25,000
 )
Net assets
202,565
 
283,462
 
Capital and reserves    
Called up share capital
2
 
2
 
Revaluation reserve
75,000
 
75,000
 
Profit and loss account
127,563
 
208,460
 
Shareholders funds
202,565
 
283,462
 
For the year ending
31 March 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
14 October 2025
, and are signed on behalf of the board by:
Mr G Owen
Director
Company registration number:
06793205
Pet Stop Limited
Notes to the Financial Statements
Year ended
31 March 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
24 Wood Road
,
Codsall
,
Wolverhampton
,
West Midlands
,
WV8 1DB
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

These financial statements have been prepared on the going concern basis, which may not be appropriate as the company reporting net current liabilities at the year end. The validity of which is dependant on the on continued support of its shareholders to ensure adequate facilities are made available for the company to discharge its liabilities as they fall due. The shareholders have confirmed that the necessary support will be made available for the foreseeable future. Based on this the directors believe it remains appropriate to prepare financial statements on the going concern basis. These financial statements do not include any adjustments which would result from the basis of preparation being inappropriate.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
0%
Fixtures and fittings
25% reducing balance
Office equipment
25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2024:
1.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 April 2024
295,875
 
112,779
 
408,654
 
Additions -  
36,078
 
36,078
 
At
31 March 2025
295,875
 
148,857
 
444,732
 
Depreciation      
At
1 April 2024
 -  
112,779
 
112,779
 
Charge -  
9,020
 
9,020
 
At
31 March 2025
 -  
121,799
 
121,799
 
Carrying amount      
At
31 March 2025
295,875
 
27,058
 
322,933
 
At 31 March 2024
295,875
  -  
295,875
 

Tangible assets held at valuation

In respect of tangible assets held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:
Land and buildingsLand and buildings
20252024
££
Aggregate historical cost 195,875   195,875  
Carrying amount 195,875   195,875  
The fair value of the land and property with a cost of £195,875 (2023 - £195,875) was revalued August 2022 by an independent valuer. This was undertaken on the basis of open market value to £290,000. The name and qualification of the independent value are Michael Tromans & Co, RICS . Had this asset been measured on the historical cost basis, the carrying amount would have been £195,875 (2023 - £195,875).

6 Debtors

20252024
££
Other debtors
47,800
 
12,730
 

7 Creditors: amounts falling due within one year

20252024
££
Trade creditors -  
37
 
Amounts owed to group undertakings and undertakings in which the company has a participating interest
62,000
  -  
Taxation and social security
5,050
 
3,350
 
Other creditors
98,035
 
2,219
 
165,085
 
5,606
 

9 Controlling party

The ultimate controlling party is Mr G Owen.