Pet Industry Federation Ltd - Accounts to registrar (filleted) - small 18.2
Pet Industry Federation Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| PET INDUSTRY FEDERATION LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2018 |
| PET INDUSTRY FEDERATION LIMITED (REGISTERED NUMBER: 07252816) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| PET INDUSTRY FEDERATION LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 APRIL 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 2nd Floor Exchange Building |
| 16 St Cuthberts Street |
| Bedford |
| Bedfordshire |
| MK40 3JG |
| PET INDUSTRY FEDERATION LIMITED (REGISTERED NUMBER: 07252816) |
| BALANCE SHEET |
| 30 APRIL 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 |
| NET LIABILITIES | ( |
) | ( |
) |
| RESERVES |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| PET INDUSTRY FEDERATION LIMITED (REGISTERED NUMBER: 07252816) |
| BALANCE SHEET - continued |
| 30 APRIL 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| PET INDUSTRY FEDERATION LIMITED (REGISTERED NUMBER: 07252816) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2018 |
| 1. | STATUTORY INFORMATION |
| Pet Industry Federation Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| During the year the company made a profit before tax of £20,025 and had a net deficiency in assets of £38,415 as at |
| 30 April 2018. |
| The company meets its day to day working capital requirements through supplier credit and a loan from The Pet |
| Charity. |
| After making enquiries, the directors have a reasonable expectation that the company has adequate resources to |
| continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going |
| concern basis in preparing the financial statements. |
| Preparation of consolidated financial statements |
| In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company |
| has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare |
| group accounts. |
| Financial instruments |
| Financial instruments are classified and accounts for, according to the substance of the contractual arrangement, as |
| either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences |
| a residual interest in the assets of the company after deducting all of its liabilities. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Turnover represents income from services provided to pet specialist members and other pet care businesses |
| excluding value added tax. This related from training to support at pet events, as well as information on and |
| representation to law and policy makers. |
| Tangible fixed assets |
| Office equipment | - |
| Computer equipment | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| PET INDUSTRY FEDERATION LIMITED (REGISTERED NUMBER: 07252816) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Pension costs |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to the profit and loss account in the period to which they relate. The company reimburses Pet |
| Care Trust for its share of pension costs. |
| Taxation |
| As a membership organisation or mutual trading body the company is only taxable on those elements of its income |
| and capital gains that are derived from sources outside of its membership base. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Office | Computer |
| equipment | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 May 2017 |
| Additions |
| At 30 April 2018 |
| DEPRECIATION |
| At 1 May 2017 |
| Charge for year |
| At 30 April 2018 |
| NET BOOK VALUE |
| At 30 April 2018 |
| At 30 April 2017 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 May 2017 |
| and 30 April 2018 |
| NET BOOK VALUE |
| At 30 April 2018 |
| At 30 April 2017 |
| PET INDUSTRY FEDERATION LIMITED (REGISTERED NUMBER: 07252816) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2018 |
| 5. | FIXED ASSET INVESTMENTS - continued |
| The company owns 100% of the issued share capital of PIF Management Ltd, a company registered in England and |
| Wales. As at 30 April 2018, PIF Management Ltd had a net deficiency of reserves of £786 (2017 : £321). In |
| addition, the company is sole guarantor for Hadlow PIF Ltd, British Dog Groomers Association Limited and British |
| Kennel and Cattery Association Limited, all companies registered in England and Wales. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| VAT | 16,483 | 17,499 |
| Other creditors | 31,286 | 20,991 |
| Deferred income |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Other loans |
| 'Other loans' are unsecured and interest is payable at 3.5% above base rate per annum. |
| PET INDUSTRY FEDERATION LIMITED (REGISTERED NUMBER: 07252816) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2018 |
| 9. | RELATED PARTY DISCLOSURES |
| During the year there are common directorships within the board of both Pet Industry Federation Limited and The |
| Pet Charity. There is common day to day management of these two entities. During the year net costs of £2,264 |
| (2017 - £2,261) were apportioned by the company to The Pet Charity. A management charge of £6,446 (2017 - |
| £18,729) was paid to The Pet Charity to cover overhead costs. |
| At the year end an amount of £31,286 (2017 - £20,991) was owed to The Pet Charity. Included within debtors is an |
| amount of £1,309 (2017 : £3,535) due from The Pet Charity. No interest has been charged on these balances during |
| the year (2017 : £Nil) and there are no set repayment terms in place. |
| As at 30 April 2018 an amount of £95,000 (2017 - £96,000) was due to The Pet Charity. Interest of 3.5% over the |
| prevailing base lending rate is due on the outstanding balance at the end of each month. The loan is due to be repaid |
| in full by 31 March 2022. Interest paid by the company during the year in respect of this loan amounted to £3,563 |
| (2017 - £3,859). |
| There are common directorships within the board of both Pet Industry Federation Limited and Hadlow PIF Ltd. |
| There is also common day to day management of these two entities. A management charge of £16,667 (2017 - |
| £15,000) was charged from Hadlow PIF Ltd to cover overhead costs. Included within debtors is an amount of |
| £8,276 (2017 : 19,167) due to Hadlow PIF Ltd. No interest has been charged on this balance during the year (2017 |
| : £Nil) and there are no set repayment terms in place. |
| Pet Industry Federation Limited owns 100% of the shares of PIF Management Ltd. Included within debtors at the |
| year ended 30 April 2018 was an amount of £725 (2017 : £225) due from PIF Management Ltd. No interest has been |
| charged on this balance during the year (2017 : £Nil) and there are no set repayment terms in place. |
| 10. | ULTIMATE CONTROLLING PARTY |
| 11. | CAPITAL |
| The company has no share capital. The liability of members is limited by guarantee and does not exceed £1 per |
| member. There were 1,334 (2017 - 1,334) members and 88 (2017 - 88) associates as at 30 April 2018. |