Registration number:
Pet Pal Community Ltd
for the Year Ended 31 March 2025
Pet Pal Community Ltd
Contents
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Pet Pal Community Ltd
Registration number: 06498808
Balance Sheet as at 31 March 2025
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2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net (liabilities)/assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' (deficit)/funds |
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The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.
Pet Pal Community Ltd
Registration number: 06498808
Balance Sheet as at 31 March 2025 (continued)
For the financial 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.
Director's responsibilities:
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The director acknowledges her 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 director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Pet Pal Community Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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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 which is the functional currency of the company and rounded to the nearest £.
Going concern
At the year end the company had net liabilities of £773 (2024 net assets: £2,069). The continuation of the company's activities is dependent on the continued support of the director. The financial statements have been prepared on the going concern basis on the understanding that their support will continue.
Pet Pal Community Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)
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Accounting policies (continued) |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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 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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet 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:
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Asset class |
Depreciation method and rate |
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Fixtures, fittings and equipment |
20% reducing balance |
Pet Pal Community Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)
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Accounting policies (continued) |
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.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Loss before tax |
Arrived at after charging/(crediting)
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2025 |
2024 |
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Depreciation expense |
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Pet Pal Community Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 April 2024 |
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At 31 March 2025 |
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Depreciation |
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At 1 April 2024 |
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Charge for the year |
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At 31 March 2025 |
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Carrying amount |
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At 31 March 2025 |
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At 31 March 2024 |
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Included within the net book value of land and buildings above is £439 (2024 - £879) in respect of freehold land and buildings.
Pet Pal Community Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)
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Stocks |
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2025 |
2024 |
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Raw materials, WIP and finished goods |
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Debtors |
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2025 |
2024 |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
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2024 |
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Due within one year |
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Trade creditors |
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Director's loan accounts |
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Other creditors |
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Pet Pal Community Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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100 |
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100 |