Company Registration No. 07179543 (England and Wales)
PROUD DOG FILMS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
PROUD DOG FILMS LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
PROUD DOG FILMS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,208
2,468
Current assets
Debtors
5
16,235
6,629
Cash at bank and in hand
397,281
321,360
413,516
327,989
Creditors: amounts falling due within one year
6
(89,683)
(34,274)
Net current assets
323,833
293,715
Total assets less current liabilities
326,041
296,183
Provisions for liabilities
(510)
(469)
Net assets
325,531
295,714
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
325,431
295,614
Total equity
325,531
295,714
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
PROUD DOG FILMS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2022
31 March 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 28 July 2022
N Fulton
Director
Company Registration No. 07179543
PROUD DOG FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 3 -
1
Accounting policies
Company information
Proud Dog Films Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Technology Park, Colindeep Lane, Colindale, London, United Kingdom, EC4N 6EU.
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 amounts in these financial statements are rounded to the nearest £.
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 net invoiced sales of services, excluding value added tax. Turnover is recognised at the point of sale.
1.3
Intangible fixed assets - goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, was amortised evenly over its estimated useful life of five years.
1.4
Tangible fixed assets
Tangible fixed assets are stated at historical cost, less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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:
Fixtures and fittings
25% on cost
Computer Equipment
25% on cost
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.
PROUD DOG FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial asset and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttabale ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment.If objective evidence of impairment is found, an impairment loss is recognised
in profit or loss.
Debtors
Basic financial assets, including trade and other debtors are measured at transaction price, less any impairment.
Cash and cash equivalents Cash and cash equivalents represented by cash in hand and deposits held at call with financial institutions, are measured at amortised cost.
Creditors
Basic financial liabilities, including trade and other creditors, are recognised at transaction price.
1.6
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.7
Government grants
The company recognises government grants received relating to the Coronavirus Job Retention Scheme on an accruals basis. The grants are recognised in the Income Statement over the period in which the company recognises the related costs for which the grant is intended to compensate.
PROUD DOG FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
1
1
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2021 and 31 March 2022
20,651
Amortisation and impairment
At 1 April 2021 and 31 March 2022
20,651
Carrying amount
At 31 March 2022
At 31 March 2021
4
Tangible fixed assets
Fixtures and fittings
Computer Equipment
Total
£
£
£
Cost
At 1 April 2021
888
21,781
22,669
Additions
1,583
1,583
Disposals
(1,658)
(1,658)
At 31 March 2022
888
21,706
22,594
Depreciation and impairment
At 1 April 2021
888
19,313
20,201
Depreciation charged in the year
1,843
1,843
Eliminated in respect of disposals
(1,658)
(1,658)
At 31 March 2022
888
19,498
20,386
Carrying amount
At 31 March 2022
2,208
2,208
At 31 March 2021
2,468
2,468
PROUD DOG FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 6 -
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
9,991
6,149
Other debtors
397
Prepayments and accrued income
6,244
83
16,235
6,629
6
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
373
373
Corporation tax
27,869
26,789
Other taxation and social security
12,838
469
Other creditors
7,410
-
Director's current account
38,193
4,243
Accruals and deferred income
3,000
2,400
89,683
34,274