Pendle Pet Care Limited - Period Ending 2020-11-30

Pendle Pet Care Limited

Contents

Abridged Balance Sheet	1 to 2
Notes to the Abridged Financial Statements	3 to 6

Pendle Pet Care Limited

(Registration number: 06715131)
Abridged Balance Sheet as at 30 November 2020

	Note	2020 £	2019 £
Fixed assets
Intangible assets	4	623,595	680,286
Tangible assets	5	1,941,338	1,916,833
Other financial assets	6	10,000	10,000
		2,574,933	2,607,119
Current assets
Stocks		97,881	102,136
Debtors		263,020	232,676
Cash at bank and in hand		568,439	176,932
		929,340	511,744
Creditors: Amounts falling due within one year	7	(1,152,734)	(1,013,550)
Net current liabilities		(223,394)	(501,806)
Total assets less current liabilities		2,351,539	2,105,313
Creditors: Amounts falling due after more than one year	8	(1,251,733)	(1,227,928)
Provisions for liabilities		(94,396)	(84,458)
Net assets		1,005,410	792,927
Capital and reserves
Called up share capital		100	100
Capital redemption reserve		24	24
Profit and loss account		1,005,286	792,803
Total equity		1,005,410	792,927

Pendle Pet Care Limited

(Registration number: 06715131)
Abridged Balance Sheet as at 30 November 2020

For the financial year ending 30 November 2020 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 Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 30 April 2021 and signed on its behalf by:
 

Mr A Marsh

Director

Mr R Hargreaves

Director

Mr J D Walmsley

Director

Mr A P Moore

Director

Pendle Pet Care Limited

Notes to the Abridged Financial Statements for the Year Ended 30 November 2020

1	General information

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

The address of its registered office is:
20 Albert Road
Colne
Lancashire
BB8 0AA

2	Accounting policies

Statement of compliance

These abridged 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 abridged 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

At the year end the company has net current liabilities. The directors consider the going concern method to still be appropriate given their continued support to the company by not demanding repayment of their directors' loan accounts included within creditors due within one year.

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
Freehold property	2% Straight line
Leasehold improvements	Over the term of the lease
Fixtures and fittings	15% Reducing balance
Motor vehicles	25% Reducing balance

Goodwill

Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and 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
Goodwill	5% - 10% Straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell.

Pendle Pet Care Limited

Notes to the Abridged Financial Statements for the Year Ended 30 November 2020

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 72 (2019 - 68).

4	Intangible assets

	Total £
Cost or valuation
At 1 December 2019	1,399,812
At 30 November 2020	1,399,812
Amortisation
At 1 December 2019	719,526
Amortisation charge	56,691
At 30 November 2020	776,217
Carrying amount
At 30 November 2020	623,595
At 30 November 2019	680,286

Pendle Pet Care Limited

Notes to the Abridged Financial Statements for the Year Ended 30 November 2020

5	Tangible assets

	Total £
Cost or valuation
At 1 December 2019	2,386,648
Additions	129,006
At 30 November 2020	2,515,654
Depreciation
At 1 December 2019	469,815
Charge for the year	104,501
At 30 November 2020	574,316
Carrying amount
At 30 November 2020	1,941,338
At 30 November 2019	1,916,833

6	Other financial assets (current and non-current)

	Financial assets at cost less impairment £	Total £
Non-current financial assets
Cost or valuation
At 1 December 2019	10,000	10,000
At 30 November 2020	10,000	10,000
Carrying amount
At 30 November 2020	10,000	10,000

7	Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £95,500 (2019 - £79,000).

8	Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £1,251,733 (2019 - £1,227,928).

Creditors include bank loans repayable by instalments of £921,098 (2019 - £942,740 due after more than five years.

Pendle Pet Care Limited

Notes to the Abridged Financial Statements for the Year Ended 30 November 2020

9	Financial commitments, guarantees and contingencies

The total amount of financial commitments not included in the balance sheet is £288,328 (2019 - £312,007). The hire purchase agreements are secured against the assets they relate to.