Registration number:
Report of the Director and
for the
Year Ended 31 August 2023
for
Salty Dog Brands Limited
Salty Dog Brands Limited
Contents of the Financial Statements
for the Year Ended 31 August 2023
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Salty Dog Brands Limited
Company Information
for the Year Ended 31 August 2023
Directors: |
Mr DA Willis Mrs J E Willis |
Company secretary: |
Mrs J E Willis |
Registered office: |
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Registered number: |
05359283 |
Accountants: |
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Salty Dog Brands Limited
(Registration number: 05359283)
Balance Sheet as at 31 August 2023
Note |
31.08.23 |
31.08.22 |
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£ |
£ |
£ |
£ |
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FIXED ASSETS |
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Tangible assets |
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CURRENT ASSETS |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
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Creditors within 1yr |
458,363 |
444,106 |
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Net current assets |
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Net assets |
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CAPITAL AND RESERVES |
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Called up share capital |
100 |
100 |
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Profit and loss account |
124,238 |
165,346 |
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Shareholders' funds |
124,338 |
165,446 |
For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Salty Dog Brands Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2023
1. |
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
2. |
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentational currency is Pound Sterling (£).
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Government grants
Government grants in relation to tangible fixed asset are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Salty Dog Brands Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2023 (continued)
2 |
Accounting policies (continued) |
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Motor vehicles |
33% straight line basis |
Computer equiptment |
33% straight line basis |
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
3. |
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Salty Dog Brands Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2023 (continued)
4. |
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 September 2022 |
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At 31 August 2023 |
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Amortisation |
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At 1 September 2022 |
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At 31 August 2023 |
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Carrying amount |
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At 31 August 2023 |
- |
- |
5. |
Tangible assets |
Plant and machinery |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 September 2022 |
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At 31 August 2023 |
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Depreciation |
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At 1 September 2022 |
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Charge for the year |
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- |
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At 31 August 2023 |
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Carrying amount |
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At 31 August 2023 |
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- |
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At 31 August 2022 |
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- |
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6. |
Stocks |
31.08.23 |
31.08.22 |
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Other inventories |
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Salty Dog Brands Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2023 (continued)
7. |
Debtors |
31.08.23 |
31.08.22 |
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Trade debtors |
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8. |
Creditors |
Creditors: amounts falling due within one year
31.08.23 |
31.08.22 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Included in other creditors is amount £4,496 owed to the directors on which no interest or repayment terms have been set.