ACCOUNTS - Final Accounts

DOG LOVES PRODUCTIONS LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-312021-01-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalse3No description of principal activity2true 09452305 2021-01-01 2021-12-31 09452305 2020-06-01 2020-12-31 09452305 2021-12-31 09452305 2020-12-31 09452305 c:Director1 2021-01-01 2021-12-31 09452305 d:CurrentFinancialInstruments 2021-12-31 09452305 d:CurrentFinancialInstruments 2020-12-31 09452305 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 09452305 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 09452305 d:ShareCapital 2021-12-31 09452305 d:ShareCapital 2020-12-31 09452305 d:RetainedEarningsAccumulatedLosses 2021-12-31 09452305 d:RetainedEarningsAccumulatedLosses 2020-12-31 09452305 c:FRS102 2021-01-01 2021-12-31 09452305 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 09452305 c:FullAccounts 2021-01-01 2021-12-31 09452305 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 09452305 4 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

09452305

DOG LOVES PRODUCTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 DECEMBER 2021

DOG LOVES PRODUCTIONS LIMITED

REGISTERED NUMBER:09452305

BALANCE SHEET

AS AT 31 DECEMBER 2021

		2021		2020
Note		£		£


Current assets
Work in progress	4	396,753		396,321
Debtors: amounts falling due within one year	5	10,250		29,800
Cash at bank and in hand		21,229		139
Creditors: amounts falling due within one year	6	(248,995)		(453,950)
Net current assets/(liabilities)			179,237		(27,690)

Net assets/(liabilities)			179,237		(27,690)

Capital and reserves
Called up share capital	100	100
Profit and loss account	179,137	(27,790)
	179,237	(27,690)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf:

E. J. Glauser

Director

Date: 26 September 2022

The notes on pages 2 to 5 form part of these financial statements.

Page 1

DOG LOVES PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1.	General information

Dog Loves Productions Limited ("the Company") is a private company limited by shares incorporated in England and Wales.
The Company's registered office address is Level 1 Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS.
The Company's principal place of business is Winters Farm House, North Common Road, Wivelsfield Green, Haywards Heath, RH17 7RJ.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in pound sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest pound.
The directors present the results for the year ended 31 December 2021. During the previous accounting period, the directors' changed the accounting reference date to 31 December 2020. As a result, the comparative results are presented for the 7 months from 1 June 2020 to 31 December 2020. The prior period results are therefore not entirley comparable as the current period represents a full 12 month period.

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

DOG LOVES PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.3

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Broadcast revenues are recognised in line with the accounting policy and based on contractual terms entered into. Royalty income is recognised as royalties fall due based on reporting from distributors.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

2.6

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

2.7

Work in progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

2.8

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.9

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Page 3

DOG LOVES PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.10

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 3).

4.	Stocks
		2021	7 month period ended 31 December 2020
		£	£

	Work in progress	396,753	396,321

Page 4

DOG LOVES PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Debtors

					2021	2020
					£	£


Trade debtors	-	28,051
Amounts owed by group undertakings	1,203	7
Other debtors	1,821	1,742
Prepayments and accrued income	7,226	-
	10,250	29,800

6.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Amounts owed to group undertakings	143	209,128
Other taxation and social security	614	917
Other creditors	239,730	239,730
Accruals and deferred income	8,508	4,175
	248,995	453,950

7.	Contingent liabilities

Flix Facilities IOM Limited and Bank of Montreal have fixed and floating charges and secured interests in the copyright and title to the animation series "Dog Loves Books".

8.	Related party transactions
	During the account period, a loan balance due to subsidary company that amounted to £65,747 (2020: £nil) was waived.

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