Company registration number 04505443 (England and Wales)
DOG TRIUMPH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
DOG TRIUMPH LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
Notes to the financial statements
2 - 4
DOG TRIUMPH LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
4
9,038
13,646
Current assets
Debtors
5
344,987
232,045
Cash at bank and in hand
519,931
338,577
864,918
570,622
Creditors: amounts falling due within one year
6
(456,192)
(357,459)
Net current assets
408,726
213,163
Net assets
417,764
226,809
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
417,763
226,808
Total equity
417,764
226,809
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 22 August 2022 and are signed on its behalf by:
G Zimmer
Director
Company Registration No. 04505443
DOG TRIUMPH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 2 -
1
Accounting policies
Company information
Dog Triumph Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
180 Great Portland Street, London, W1W 5QZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for music recording and publishing net of VAT.
1.3
Research and development expenditure
These
financial statements
for the year ended 31 December 2021
are the
first
financial statements
of
Dog Triumph Limited
prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was
1 January 2020
. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Musical equipment
25% straight line
Fixtures, fittings & equipment
25% straight line
1.5
Financial instruments
The company has
only basic
financial instruments.
Basic financial assets
Basic financial assets, which include
debtors
and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method
.
Basic financial liabilities
Basic financial liabilities, including
creditors and
bank loans
are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction
.
1.6
Taxation
The tax expense represents the sum of the
corporation
tax currently payable.
DOG TRIUMPH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.7
Foreign exchange
Transactions in currencies other than
pounds sterling
are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2020 - 2).
2021
2020
Number
Number
Total
2
2
DOG TRIUMPH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2021
104,165
Additions
1,785
At 31 December 2021
105,950
Depreciation and impairment
At 1 January 2021
90,519
Depreciation charged in the year
6,393
At 31 December 2021
96,912
Carrying amount
At 31 December 2021
9,038
At 31 December 2020
13,646
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
133,762
56,442
Amounts owed by group undertakings
8,265
8,265
Other debtors
202,960
167,338
344,987
232,045
6
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
35,389
7,642
Corporation tax
46,190
52,862
Other taxation and social security
59,361
Other creditors
315,252
296,955
456,192
357,459