Registration number:
Woodydog Limited
for the Year Ended 31 December 2020
Woodydog Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Woodydog Limited
Company Information
Directors |
Mr T R Metcalfe Mrs S C Metcalfe |
Registered office |
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Woodydog Limited
(Registration number: 09387160)
Balance Sheet as at 31 December 2020
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2020 |
2019 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Provisions for liabilities - deferred tax |
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Net liabilities |
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Capital and reserves |
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Called up and fully paid share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 December 2020 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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.
Approved and authorised by the
Woodydog Limited
(Registration number: 09387160)
Balance Sheet as at 31 December 2020
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Woodydog Limited
Notes to the Financial Statements for the Year Ended 31 December 2020
General information |
The Company is a private company limited by share capital incorporated in England & Wales. Details of the registered office are shown on page 1.
The principal place of business is:
Apartment Top 3
Skiliftstrasse 365
5753
Saalbach
Austria
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Basis of preparation
These financial statements have been prepared on a going concern basis, using the historical cost convention and in accordance with FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
The accounts are presented in Euros and are rounded to the nearest €1.
Going concern
The financial statements have been prepared on a going concern basis. The company is loss making and has negative reserves. The company operates in the provision of accommodation therefore the Covid-19 pandemic outbreak has resulted in reduced income levels. The directors and parent company will continue to support the business and so the directors believe the going concern basis of accounting remains appropriate.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Government grants
Government grants in relation to revenue expenditure that has already been incurred for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which they become receivable.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Woodydog Limited
Notes to the Financial Statements for the Year Ended 31 December 2020
2 |
Accounting policies (continued) |
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Current income tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax is recognised on timing differences between taxable profits and profits reported in the financial statements. Deferred tax is recognised on all timing differences at the reporting date and is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
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 |
Land and buildings |
1.5% straight line |
Plant and equipment |
10% straight line |
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 |
Website development |
10% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Woodydog Limited
Notes to the Financial Statements for the Year Ended 31 December 2020
2 |
Accounting policies (continued) |
Share capital
Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Dividends
Dividend distribution to the Company’s shareholders is recognised in the financial statements in the reporting period in which the dividends are paid.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary and preference shares, which are measured at fair value provided that this can be measured reliably. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Staff numbers |
The average number of persons employed by the company (including directors) in the year, was
Intangible assets |
Software costs |
Total |
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Cost or valuation |
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At 1 January 2020 |
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At 31 December 2020 |
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Amortisation |
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At 1 January 2020 |
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Amortisation charge |
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At 31 December 2020 |
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Carrying amount |
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At 31 December 2020 |
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At 31 December 2019 |
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Woodydog Limited
Notes to the Financial Statements for the Year Ended 31 December 2020
Tangible assets |
Land and buildings |
Other property, plant and equipment |
Total |
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Cost |
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At 1 January 2020 |
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At 31 December 2020 |
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Depreciation |
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At 1 January 2020 |
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Charge for the year |
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At 31 December 2020 |
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Carrying amount |
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At 31 December 2020 |
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At 31 December 2019 |
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Included within the net book value of land and buildings above is €857,732 (2019 - €868,751) in respect of freehold land and buildings.
Debtors |
2020 |
2019 |
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Other debtors |
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- |
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Creditors |
Note |
2020 |
2019 |
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Due within one year |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
- |
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Corporation tax |
5,865 |
5,380 |
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Woodydog Limited
Notes to the Financial Statements for the Year Ended 31 December 2020
Related party transactions |
Summary of transactions with parent
Parent and ultimate parent undertaking |
The ultimate controlling party is Mr T R Metcalfe by virtue of his majority shareholding in T R M Marketing Limited.