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Company registration number: 08756410
DOG AND BONE PROJECTS LIMITED
Unaudited filleted financial statements
31 August 2021
DOG AND BONE PROJECTS LIMITED
Contents
Statement of financial position
Notes to the financial statements
DOG AND BONE PROJECTS LIMITED
Statement of financial position
31 August 2021
2021 2020
Note £ £ £ £
Fixed assets
Tangible assets 4 725,472 803,532
_______ _______
725,472 803,532
Current assets
Work in progress 47,517 10,967
Debtors 5 58,745 32,408
Cash at bank 88,915 127,082
_______ _______
195,177 170,457
Creditors: amounts falling due
within one year 6 ( 624,968) ( 702,171)
_______ _______
Net current liabilities ( 429,791) ( 531,714)
_______ _______
Total assets less current liabilities 295,681 271,818
Creditors: amounts falling due
after more than one year 7 ( 251,000) ( 201,000)
_______ _______
Net assets 44,681 70,818
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 44,680 70,817
_______ _______
Shareholders funds 44,681 70,818
_______ _______
For the year ending 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 August 2022 , and are signed on behalf of the board by:
Jeffery Nash
Director
Company registration number: 08756410
DOG AND BONE PROJECTS LIMITED
Notes to the financial statements
Year ended 31 August 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Chancellors House, Brampton Lane, London, NW4 4AB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the total invoice value, excluding value added tax, for the provision of hotel rooms and services, goods and services supplied and fees receivable from project management and consultancy work undertaken during the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved taxlosses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Improvements to leasehold premises - Straight line over the life of the lease
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, which includes purchase price and any directly attributable expenditure. Subsequently, investment properties are revalued to their fair value at each reporting date and any changes in fair value are recognised in profit or loss. Deferred tax is provided on these valuations.
Work in progress
Work in progress represents capital expenditure incurred on projects which has not been invoiced at the reporting date. It is stated at the lower of cost and net realisable value.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks, loans from director and other loans. Debt instruments that are receivable or payable within one year, such as trade receivables andpayables are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be received or paid.
4. Tangible assets
Leasehold properties Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 September 2020 618,190 762,741 1,380,931
Additions - 15,131 15,131
_______ _______ _______
At 31 August 2021 618,190 777,872 1,396,062
_______ _______ _______
Depreciation
At 1 September 2020 60,258 517,141 577,399
Charge for the year 27,853 65,338 93,191
_______ _______ _______
At 31 August 2021 88,111 582,479 670,590
_______ _______ _______
Carrying amount
At 31 August 2021 530,079 195,393 725,472
_______ _______ _______
At 31 August 2020 557,932 245,600 803,532
_______ _______ _______
Included in leasehold properties are improvements to leasehold properties which are depreciated over the period of the lease.
5. Debtors
2021 2020
£ £
Trade debtors 31,866 30,015
Other debtors 26,879 2,393
_______ _______
58,745 32,408
_______ _______
6. Creditors: amounts falling due within one year
2021 2020
£ £
Trade creditors 61,257 63,344
Social security and other taxes 14,346 27,540
Other creditors 549,365 611,287
_______ _______
624,968 702,171
_______ _______
7. Creditors: amounts falling due after more than one year
2021 2020
£ £
Bank loan 50,000 -
Corporation tax 201,000 201,000
_______ _______
251,000 201,000
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2021
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Jeffery Nash - 22,851 22,851
_______ _______ _______
During the year, advances were made to the director on which interest was charged at 2.50% per annum.
9. Related party transactions
Cost of sales includes rent amounting to £180,000 payable to a SIPP in which Mr J Nash has an interest (a connected party). Included in other creditors under amounts due within one year is £12,666 due to Dog & Bone Properties Ltd (connected company).
10. Controlling party
The company is controlled by the director, Jeffery Nash.