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REGISTERED NUMBER: SC582636 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Wally Dog Ltd

Wally Dog Ltd (Registered number: SC582636)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Wally Dog Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTORS: M A L Campbell
C R McCowen





SECRETARY: C R McCowen





REGISTERED OFFICE: 6 Logie Mill
Edinburgh
EH7 4HG





REGISTERED NUMBER: SC582636 (Scotland)





ACCOUNTANTS: A H & Co Ltd
Chartered Accountants
6 Logie Mill
Edinburgh
Lothian
EH7 4HG

Wally Dog Ltd (Registered number: SC582636)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 9,543 14,987

CURRENT ASSETS
Stocks 5 15,800 10,000
Debtors 6 - 1,005
Cash at bank 39,967 84,031
55,767 95,036
CREDITORS
Amounts falling due within one year 7 50,328 54,089
NET CURRENT ASSETS 5,439 40,947
TOTAL ASSETS LESS CURRENT LIABILITIES 14,982 55,934

CREDITORS
Amounts falling due after more than one year 8 (23,333 ) (33,333 )

PROVISIONS FOR LIABILITIES 10 (1,814 ) (2,849 )
NET (LIABILITIES)/ASSETS (10,165 ) 19,752

CAPITAL AND RESERVES
Called up share capital 11 60 60
Retained earnings (10,225 ) 19,692
SHAREHOLDERS' FUNDS (10,165 ) 19,752

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2023 and were signed on its behalf by:





C R McCowen - Director


Wally Dog Ltd (Registered number: SC582636)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Wally Dog Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis, the acceptability of which is dependent on the continuing support of the directors and creditors.

Turnover
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Tangible fixed assets
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant & Machinery-20% on cost
Fixtures & Fittings-20% on cost
Computer Equipment-20% on cost

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Wally Dog Ltd (Registered number: SC582636)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£ £ £ £ £
COST
At 1 February 2022 - 17,528 17,301 3,014 37,843
Additions 101,133 1,683 - - 102,816
Disposals (101,133 ) - - - (101,133 )
At 31 January 2023 - 19,211 17,301 3,014 39,526
DEPRECIATION
At 1 February 2022 - 10,331 11,287 1,238 22,856
Charge for year - 3,530 3,030 567 7,127
At 31 January 2023 - 13,861 14,317 1,805 29,983
NET BOOK VALUE
At 31 January 2023 - 5,350 2,984 1,209 9,543
At 31 January 2022 - 7,197 6,014 1,776 14,987

5. STOCKS
31.1.23 31.1.22
£ £
Stocks 15,800 10,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£ £
Trade debtors - 1,005

Wally Dog Ltd (Registered number: SC582636)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£ £
Trade creditors 18,428 20,839
Tax 5,547 3,146
Social security and other taxes 1,887 2,499
Pension Creditor 34 153
VAT 10,258 12,704
Loan 10,000 10,000
Directors' current accounts 824 1,648
Accrued expenses 3,350 3,100
50,328 54,089

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.23 31.1.22
£ £
Loan 23,333 33,333

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.23 31.1.22
£ £
Within one year 41,600 41,600
Between one and five years 41,600 41,600
83,200 83,200

10. PROVISIONS FOR LIABILITIES
31.1.23 31.1.22
£ £
Deferred tax 1,814 2,849

Deferred tax
£
Balance at 1 February 2022 2,849
Provided during year (1,035 )
Balance at 31 January 2023 1,814

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £ £
60 Ordinary £1 60 60

Wally Dog Ltd (Registered number: SC582636)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2023 and 31 January 2022:

31.1.23 31.1.22
£ £
M A L Campbell
Balance outstanding at start of year (1,648 ) (1,952 )
Amounts advanced 26,647 1,109
Amounts repaid (25,823 ) (805 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (824 ) (1,648 )

C R McCowen
Balance outstanding at start of year - (178 )
Amounts advanced 26,066 1,330
Amounts repaid (26,066 ) (1,152 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

13. RELATED PARTY DISCLOSURES

During the year ended 31st January 2023, the company made net rental payments of £38,400 (2022: £33,600) to RCR Industrial Limited.There was no balance payable to this company at the year end. (2022: nil).

The family members of a director of the company are shareholders in RCR Industrial Limited.

During the year ended 31st January 2023, the company also paid costs totalling £33,342 on behalf of Braw Bear Limited. Of this amount, £3,210 was repaid to the company and the remaining balance of £30,132 was written off as unrecoverable.

A director of the company is also a director of Braw Bear Limited.

14. ULTIMATE CONTROLLING PARTY

There is no overall controlling interest.