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Company registration number: 12054691
Lush Dogs Ltd
Unaudited filleted financial statements
31 December 2023
Lush Dogs Ltd
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Lush Dogs Ltd
Directors and other information
Directors Mr Courtnall Machanick
Mrs Wilna Machanick
Company number 12054691
Registered office 11a The Green
Stubbington
Fareham
Hampshire
PO14 2JG
Accountants J Humphry Associates Ltd
11a The Green
Stubbington
Fareham
Hampshire
PO14 2JG
Lush Dogs Ltd
Statement of financial position
31 December 2023
31/12/23
Note £ £ £ £
Fixed assets
Tangible assets 5 13,509 21,663
________ ________
13,509 21,663
Current assets
Debtors 6 44,135 3,500
Cash at bank and in hand - 13,723
________ ________
44,135 17,223
Creditors: amounts falling due
within one year 7 ( 27,518) ( 19,680)
________ ________
Net current assets/(liabilities) 16,617 ( 2,457)
________ ________
Total assets less current liabilities 30,126 19,206
Creditors: amounts falling due
after more than one year 8 ( 35,844) ( 37,596)
________ ________
Net liabilities ( 5,718) ( 18,390)
________ ________
Capital and reserves
Called up share capital - 2
Profit and loss account ( 5,718) ( 18,392)
________ ________
Shareholders deficit ( 5,718) ( 18,390)
________ ________
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge 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 06 February 2024 , and are signed on behalf of the board by:
Mr Courtnall Machanick
Director
Company registration number: 12054691
Lush Dogs Ltd
Statement of changes in equity
Period ended 31 December 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 July 2021 2 ( 18,943) ( 18,941)
Profit for the period 551 551
________ ________ ________
Total comprehensive income for the period - 551 551
________ ________ ________
At and 1 July 2022 - (18,393) (18,393)
Profit for the period 12,675 12,675
________ ________ ________
Total comprehensive income for the period - 12,675 12,675
________ ________ ________
At 31 December 2023 - ( 5,718) ( 5,718)
________ ________ ________
Lush Dogs Ltd
Notes to the financial statements
Period ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 11a The Green, Stubbington, Fareham, Hampshire, PO14 2JG.
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 is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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 tax losses 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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
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.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the period amounted to 5 (: 5 ).
The aggregate payroll costs incurred during the period were:
Year Year
ended ended
31/12/23
£ £
Wages and salaries 102,999 71,132
Social security costs - 2
Other pension costs 1,545 972
________ ________
104,544 72,106
________ ________
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 July 2022 and 31 December 2023 7,024 34,277 41,301
________ ________ ________
Depreciation
At 1 July 2022 3,267 16,419 19,686
Charge for the year 1,409 6,697 8,106
________ ________ ________
At 31 December 2023 4,676 23,116 27,792
________ ________ ________
Carrying amount
At 31 December 2023 2,348 11,161 13,509
________ ________ ________
At 3,757 17,858 21,615
________ ________ ________
6. Debtors
31/12/23
£ £
Trade debtors 97 -
Other debtors 44,038 3,500
________ ________
44,135 3,500
________ ________
7. Creditors: amounts falling due within one year
31/12/23
£ £
Bank loans and overdrafts 3,271 6,552
Trade creditors 45 -
Corporation tax 7,731 -
Social security and other taxes 14,795 651
Other creditors 1,676 12,477
________ ________
27,518 19,680
________ ________
8. Creditors: amounts falling due after more than one year
31/12/23
£ £
Bank loans and overdrafts 35,844 37,596
________ ________
9. Directors advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
Year ended 31/12/23
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Courtnall Machanick ( 5,781) 28,688 22,907
Mrs Wilna Machanick ( 5,806) 15,706 9,900
________ ________ ________
( 11,587) 44,394 32,807
________ ________ ________
Year ended
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Courtnall Machanick ( 8,959) 3,178 ( 5,781)
Mrs Wilna Machanick ( 7,549) 1,743 ( 5,806)
________ ________ ________
( 16,508) 4,921 ( 11,587)
________ ________ ________
Lush Dogs Ltd
The following pages do not form part of the statutory accounts.
Lush Dogs Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Lush Dogs Ltd
Period ended 31 December 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the period ended 31 December 2023 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
J Humphry Associates Ltd
11a The Green
Stubbington
Fareham
Hampshire
PO14 2JG
6 February 2024