Dogtooth Technologies Limited
Registered number: 09079342
Balance Sheet
at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 39,476 74,138
Current assets
Debtors 4 607,058 1,578,749
Cash at bank and in hand 1,272,972 395,122
1,880,030 1,973,871
Creditors: amounts falling due within one year 5 (287,056) (89,353)
Net current assets 1,592,974 1,884,518
Net assets 1,632,450 1,958,656
Capital and reserves
Called up share capital 33,804 30,452
Share premium 12,744,068 10,901,881
Profit and loss account (11,145,422) (8,973,677)
Shareholders' funds 1,632,450 1,958,656
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr Duncan Paul Robertson
Director
Approved by the board on 31 July 2024
Dogtooth Technologies Limited
Notes to the Financial Statements
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 – The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis and are presented in Sterling (£).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and grant income. Grant income is recognised as funds are expended for the grant purpose.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets over their expected useful lives, using the straight-line method.
Plant and machinery 25% per year
Leasehold improvements Over the remaining term of the lease
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the reporting date.
Deferred tax is calculated using the tax rates and laws that that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference and is recognised in respect of all timing differences at the reporting date, except as otherwise indicated. Deferred tax assets are only 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. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Employee benefits
Short-term employee benefits and contributions to defined contribution pension plans are recognised as an expense in the period in which they are incurred.
The company operates stakeholder defined contribution pension schemes for the benefit of the employees and directors. The assets of the pension schemes are administered by an independent pensions provider.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 46 51
3 Tangible fixed assets
Leasehold improvements Plant and machinery Total
£ £ £
Cost
At 1 April 2023 42,646 208,482 251,128
Additions - 7,061 7,061
At 31 March 2024 42,646 215,543 258,189
Depreciation
At 1 April 2023 29,378 147,612 176,990
Charge for the year 13,268 28,455 41,723
At 31 March 2024 42,646 176,067 218,713
Net book value
At 31 March 2024 - 39,476 39,476
At 31 March 2023 13,268 60,870 74,138
4 Debtors 2024 2023
£ £
Trade debtors 3,981 8,550
Other taxes and social security 21,114 18,041
Other debtors 21,984 16,250
Corporation tax 296,605 1,284,826
Prepayments and accrued income 263,374 251,082
607,058 1,578,749
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 61,916 7,694
Taxation and social security costs 109,239 79,309
Other creditors 46,751 -
Accruals and deferred income 69,150 2,350
287,056 89,353
6 Events after the reporting date
In April 2024 the company issued 308,287 new A ordinary shares for proceeds of £1,834,308.
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases - 8,125
8 Other information
Dogtooth Technologies Limited is a private company limited by shares and incorporated in England. Its registered office is:
Millside
The Moor
Melbourn
Cambridgeshire
SG8 6ED
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