Company Registration No. 10459519 (England and Wales)
DOG HOUSE BALHAM LIMITED
Unaudited financial statements
For the year ended 31 March 2019
Pages for filing with registrar
DOG HOUSE BALHAM LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
DOG HOUSE BALHAM LIMITED
STATEMENT OF FINANCIAL POSITION
As at 31 March 2019
- 1 -
2019
2018
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
4
157,639
178,727
Current assets
Trade and other receivables
5
83,541
71,216
Cash and cash equivalents
-
524
83,541
71,740
Current liabilities
6
(98,962)
(106,905)
Net current liabilities
(15,421)
(35,165)
Total assets less current liabilities
142,218
143,562
Non-current liabilities
7
(22,286)
(35,286)
Net assets
119,932
108,276
Equity
Called up share capital
8
11
11
Share premium account
187,498
187,498
Retained earnings
(67,577)
(79,233)
Total equity
119,932
108,276
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 31 March 2019 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.
DOG HOUSE BALHAM LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
As at 31 March 2019
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 11 December 2019 and are signed on its behalf by:
J Sangster
Director
Company Registration No. 10459519
DOG HOUSE BALHAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2019
- 3 -
1
Accounting policies
Company information
Dog House Balham Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
5 Bracken Gardens
,
Barnes
,
London
,
SW13 9HW
.
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 are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Revenue
Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Property, plant and equipment
Property, plant and equipment
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:
Leasehold improvements
15 years straight line
Plant and equipment
5 years straight line
Fixtures and fittings
5 years straight line
Website development
5 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Impairment of non-current assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
DOG HOUSE BALHAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2019
1
Accounting policies
(Continued)
- 4 -
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit)
in
prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.5
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables 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 unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
DOG HOUSE BALHAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2019
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade payables
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade payables are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
2
Change in accounting policy
Please note, change in leasehold improvements depreciation rate from 10 years straight line (2018) to 15 years straight line.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2018 - 2
).
DOG HOUSE BALHAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2019
- 6 -
4
Property, plant and equipment
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2018 and 31 March 2019
115,857
78,538
194,395
Depreciation and impairment
At 1 April 2018
7,031
8,637
15,668
Depreciation charged in the year
5,380
15,708
21,088
At 31 March 2019
12,411
24,345
36,756
Carrying amount
At 31 March 2019
103,446
54,193
157,639
At 31 March 2018
108,826
69,901
178,727
5
Trade and other receivables
2019
2018
Amounts falling due within one year:
£
£
Trade receivables
13,703
8,716
Other receivables
69,838
62,500
83,541
71,216
6
Current liabilities
2019
2018
£
£
Bank loans and overdrafts
12,218
-
Trade payables
11,826
9,321
Taxation and social security
4,489
1,029
Other payables
70,429
96,555
98,962
106,905
7
Non-current liabilities
2019
2018
£
£
Other payables
22,286
35,286
DOG HOUSE BALHAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2019
- 7 -
8
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
1,050 Ordinary shares of 1p each
11
11
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2019
2018
£
£
412,500
462,500
10
Related party transactions
During the period under review the company received loans amounting to £45,365 (£37,686
- 2018) interest free and repayable on demand from members of key management personnel and from related parties.