Pets' Kitchen Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 7

Pets' Kitchen Limited

(Registration number: 05653527)
Balance Sheet as at 31 July 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	5	290,886	413,048
Tangible assets	6	1,247,394	1,298,348
		1,538,280	1,711,396
Current assets
Stocks		66,345	63,650
Debtors	7	1,026,977	874,255
Cash at bank and in hand		139,604	901,834
		1,232,926	1,839,739
Creditors: Amounts falling due within one year		(2,204,334)	(702,510)
Net current (liabilities)/assets		(971,408)	1,137,229
Total assets less current liabilities		566,872	2,848,625
Creditors: Amounts falling due after more than one year		(59,308)	(1,616,598)
Net assets		507,564	1,232,027
Capital and reserves
Called up share capital		29,886	29,886
Share premium reserve		3,703,920	3,703,920
Profit and loss account		(3,226,242)	(2,501,779)
Shareholders' funds		507,564	1,232,027

Pets' Kitchen Limited

(Registration number: 05653527)
Balance Sheet as at 31 July 2025

For the financial year ending 31 July 2025 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 of its accounts for the year in question in accordance with section 476; and
	The directors acknowledge their 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 and the option not to file the Profit and Loss Accounts has been taken.

Approved and authorised by the Board on 29 April 2026 and signed on its behalf by:
 

Mr R Penston

Director

Ms J Silvester

Director

Pets' Kitchen Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Unit 3 Callenders
Paddington Drive
Swindon
SN5 7YW

2	Accounting policies

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Going concern

The company incurred a loss during the year and, at the balance sheet date, had net current liabilities. Included within current liabilities are shareholder loans and loan notes totalling £1,550,000 which are contractually repayable within one year of the balance sheet date.

The directors have been advised that, in respect of £1,200,000 of these loans, the lenders do not intend to enforce repayment in accordance with the contractual repayment date. In addition, subsequent to the year end, the repayment terms of a £350,000 shareholder loan were revised (see note 13).

Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.

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 the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and 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.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Pets' Kitchen Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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:

Asset class	Depreciation method and rate
Tenant improvements	over the remaining term of the lease
Plant and machinery	25% straight line
Fixtures, fittings & equipment	25% straight line

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences, computer software and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Patents and trademarks	over estimated useful life of 10 years
Computer software	over 5 years straight line

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 56 (2024 - 53).

4 Discontinued Operations

During the financial year ended 31 July 2024, the company disposed of its pet food division.

There were no discontinued operations in the year ended 31 July 2025.

Pets' Kitchen Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

5	Intangible assets

	Total £
Cost or valuation
At 1 August 2024	637,714
Additions acquired separately	4,732
At 31 July 2025	642,446
Amortisation
At 1 August 2024	224,666
Amortisation charge	126,894
At 31 July 2025	351,560
Carrying amount
At 31 July 2025	290,886
At 31 July 2024	413,048

6	Tangible assets

	Total £
Cost or valuation
At 1 August 2024	1,838,467
Additions	85,823
At 31 July 2025	1,924,290
Depreciation
At 1 August 2024	540,119
Charge for the year	136,777
At 31 July 2025	676,896
Carrying amount
At 31 July 2025	1,247,394
At 31 July 2024	1,298,348

7

Debtors

	2025 £	2024 £
Trade debtors	39,985	75,021
Other debtors	986,992	799,234
	1,026,977	874,255

Pets' Kitchen Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

8

Creditors

	2025 £	2024 £
Due within one year
Bank loans and overdrafts	1,550,000	-
HP and finance lease liabilities	37,161	29,760
Trade creditors	239,348	244,295
Taxation and social security	194,081	153,366
Other creditors	183,744	275,089
	2,204,334	702,510
Due after more than one year
Bank loans and loan notes	-	1,550,000
HP and finance lease liabilities	59,308	66,598
	59,308	1,616,598

Other borrowings

The carrying amount of Hire purchase liabilities at year end is £96,469 (2024 - £96,358). Hire purchase liabilities are secured over the assets to which they relate.

Included in shareholder loans and loan notes, due within one year, are two loan agreements. Shareholder loan notes have a carrying amount of £350,000, of which £90,000 (2024 - £135,000) was received from directors of the company or their close family members. This loan note agreement has a repayment date of 27 October 2025, carries an annual interest charge of 12% and is secured by way of a floating charge over all assets of the company. On 2 October 2025, the repayment terms of the agreement were extended to 27 October 2026.

The loan notes of £1,200,000 attract a nominal interest rate of 7.5% and are repayable on 26 June 2026. The carrying amount at the year end is £1,200,000 and is classified within amounts falling due within one year. Although contractually repayable within one year of the balance sheet date, the directors have been advised that the lenders do not intend to enforce repayment in accordance with the contractual repayment date.

The total carrying amount of shareholder loans and loan notes at the year end is £1,550,000 (2024 - £1,550,000).

At the year end, all shareholder loans and loan notes are classified within amounts falling due within one year (2024 - due after more than one year).

9	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £1,121,022 (2024 - £1,280,225). The amounts owed under the lease agreement are secured over the premises occupied by the company.

Pets' Kitchen Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

10	Share-based payments transactions

Scheme details and movements

The company operates a share scheme for the purpose of granting EMI options and unapproved options to incentivise and aid retention of key employees.

The fair value of these options at the year end has been calculated using the Black Scholes model. No charge has been recognised in these financial statements, as it is not considered to be material.

The movements in the number of share options during the year were as follows:

	2025 Number	2024 Number
Outstanding, start of period	266,429	552,201
Granted during the period	1,826,221	-
Expired during the period	(77,340)	(285,772)
Outstanding, end of period	2,015,310	266,429

The movements in the weighted average exercise price of share options during the year were as follows:

	2025 £	2024 £
Outstanding, start of period	0.11	0.11
Granted during the period	0.02	-
Expired during the period	(0.12)	-
Outstanding, end of period	0.01	0.11

11	Related party transactions

Summary of transactions with other related parties

The shareholders issued a loan to the company on 1 November 2023 of £350,000 with an interest rate of 12%. Included in this loan were amounts totalling £90,000 (2024 - £135,000) from directors, or their close family members. The loan was repayable on 27 October 2025. The balance remains outstanding at the year end.

Subsequent to the year end, the repayment terms of this loan were revised (see note 12).
 

12	Non adjusting events after the financial period

After the year end, the company received an additional loan note of £255,000, of which £75,000 was received from directors of the company or their close family members. This has an annual interest charge of 12% and is secured by way of a floating charge over all assets of the company. After the year end, the repayment terms of a £350,000 shareholder loan were revised. Under the revised agreement dated 2 October 2025, the loan is now repayable on 27 October 2026.