Company Registration No. 12265972 (England and Wales)
Little Dooley Limited
Unaudited financial statements
for the year ended 31 December 2023
Pages for filing with the registrar
Little Dooley Limited
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
Little Dooley Limited
Statement of financial position
As at 31 December 2023
31 December 2023
1
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
1,306
35,463
Cash at bank and in hand
118,388
108,168
119,694
143,631
Creditors: amounts falling due within one year
4
(10,984)
(20,584)
Net current assets
108,710
123,047
Capital and reserves
Called up share capital
5
1,000
1,000
Profit and loss reserves
107,710
122,047
Total equity
108,710
123,047
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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.
The financial statements were approved by the board of directors and authorised for issue on 23 September 2024 and are signed on its behalf by:
Jamie Munro
Director
Company Registration No. 12265972
Little Dooley Limited
Statement of changes in equity
For the year ended 31 December 2023
2
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2022
1,000
82,076
83,076
Year ended 31 December 2022:
Profit and total comprehensive income for the year
-
39,971
39,971
Balance at 31 December 2022
1,000
122,047
123,047
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
17,242
17,242
Dividends
-
(31,579)
(31,579)
Balance at 31 December 2023
1,000
107,710
108,710
Little Dooley Limited
Notes to the financial statements
For the year ended 31 December 2023
3
1
Accounting policies
Company information
Little Dooley Limited is a private company limited by shares incorporated in England and Wales. The registered office is 71 Queen Victoria Street, London, EC4V 4BE.
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
Going concern
The directors have considered the company's ability to continue as a going concern. They have formed the view that, as at the date of approving the financial statements, there is reasonable expectation that the company will have adequate resources to meet its liabilities as they fall due for at least 12 months from the date of signing these financial statements.true
1.3
Turnover
Turnover comprises amounts receivable for work carried out on productions and is recognised on a straight line basis spread equally over the life of production. Distribution income is recognised in the period to which it relates.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Little Dooley Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies (continued)
4
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Little Dooley Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies (continued)
5
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Employees
The average monthly number of employees, excluding directors, during the year was 0 (2022: 2).
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
306
22,554
Other debtors
1,000
12,909
1,306
35,463
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,450
Corporation tax
4,045
9,380
Other taxation and social security
1,293
296
Other creditors
4,196
10,908
10,984
20,584
5
Called up share capital
2023
2020
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary shares of £1 each
1,000
1,000
Little Dooley Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
6
6
Related party transactions
During the period the company was charged fees of £9,179 (2022: £27,288) and recharged costs of £4,081 (2022: £nil) including VAT, by Greenbird Media Limited, a shareholder in the company, and a company with a common director. The amount settled in the year was £12,030(2022: £29,096). A balance of £1,230 (2022: £nil) is outstanding as at 31 December 2023.
7
Controlling party
By virtue of their majority shareholding in the company, Stacey Dooley and Jacqueline Drewe are considered to be the ultimate controlling parties.