Petspyjamas Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07706594 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Petspyjamas Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

308

5,355

Tangible assets

5

11,373

4,627

11,681

9,982

CURRENT ASSETS

Stocks

1,760

5,741

Debtors

6

1,203,088

2,102,965

Cash at bank and in hand

24,220

21,444

1,229,068

2,130,150

CREDITORS

Amounts falling due within one year

7

4,588,918

4,050,071

NET CURRENT LIABILITIES

(3,359,850

)

(1,919,921

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,348,169

)

(1,909,939

)

CAPITAL AND RESERVES

Called up share capital

850

850

Share premium

5,505,731

5,505,731

Retained earnings

(8,854,750

)

(7,416,520

)

(3,348,169

)

(1,909,939

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss has not been delivered.

The financial statements were approved by the Board of Directors on 15 May 2019 and were signed on its behalf by:

Miss K A Hanton - Director

1.	STATUTORY INFORMATION

Petspyjamas Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address are as below:

Registered number:

07706594

Registered office:

81 Leonard Street

London

EC2A 4QS

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section I A "Small Entities"

of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of

Ireland" and the Companies Act 2006.

Turnover

Turnover is measured at the value of holiday bookings and accessory sales received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Domain names are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Going concern

The balance sheet at the end of the year recorded net liabilities. However, the directors believe that sufficient

financial resources are available to the company to enable it to continue trading into the foreseeable future.

Therefore, the financial statements have been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2017 - 27 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2018

7,801

Additions

422

At 31 December 2018

8,223

AMORTISATION

At 1 January 2018

2,446

Charge for year

106

Reclassification/transfer

5,363

At 31 December 2018

7,915

NET BOOK VALUE

At 31 December 2018

308

At 31 December 2017

5,355

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

21,314

Additions

6,896

At 31 December 2018

28,210

DEPRECIATION

At 1 January 2018

16,687

Charge for year

5,513

Reclassification/transfer

(5,363

)

At 31 December 2018

16,837

NET BOOK VALUE

At 31 December 2018

11,373

At 31 December 2017

4,627

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

as restated

£

£

Trade debtors

90,631

22,302

Amounts owed by related party

673,774

660,279

Other debtors

438,683

1,420,384

1,203,088

2,102,965

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

as restated

£

£

Trade creditors

89,799

142,496

Taxation and social security

43,552

26,655

Other creditors

4,455,567

3,880,920

4,588,918

4,050,071