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Registered number: 03373636














DOGWOOD LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
DOGWOOD LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7


 
DOGWOOD LIMITED
REGISTERED NUMBER:03373636

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
209
596

  
209
596

Current assets
  

Debtors: amounts falling due within one year
 5 
1,185,362
1,918,388

Cash at bank and in hand
 6 
130,646
136,879

  
1,316,008
2,055,267

Creditors: amounts falling due within one year
 7 
(5,808)
(231,104)

Net current assets
  
 
 
1,310,200
 
 
1,824,163

Total assets less current liabilities
  
1,310,409
1,824,759

  

Net assets
  
1,310,409
1,824,759


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
1,310,309
1,824,659

  
1,310,409
1,824,759


1

 
DOGWOOD LIMITED
REGISTERED NUMBER:03373636
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R A Gold
Director

Date: 30 September 2024

The notes on pages 3 to 7 form part of these financial statements.

2

 
DOGWOOD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Dogwood Limited is a private limited company, registered in England and Wales with registration number 03373636. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company continued to be that of a finance company.
 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises of revenue recognised by the company in respect of providing financial services during the year.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3

 
DOGWOOD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. 

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

 Creditors

Short-term 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.

 
2.9

 Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.


3.


Employees

The average monthly number of employees, including the director, during the year was 1 (2023 - 1).

4

 
DOGWOOD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 February 2023
2,011



At 31 January 2024

2,011



Depreciation


At 1 February 2023
1,414


Charge for the year on owned assets
388



At 31 January 2024

1,802



Net book value



At 31 January 2024
209



At 31 January 2023
596


5.


Debtors

2024
2023
£
£


Trade debtors
1,110,000
1,814,500

Other debtors
52,415
52,353

Prepayments and accrued income
245
-

Deferred taxation
22,702
51,535

1,185,362
1,918,388



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
130,646
136,879


5

 
DOGWOOD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
480
226,028

Accruals
5,328
5,076

5,808
231,104



8.


Deferred taxation




2024
2023


£

£






At beginning of year
51,535
(143)


Charged to profit or loss
(28,833)
51,678



At end of year
22,702
51,535

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(48)
(149)

Tax losses carried forward
22,750
51,684

22,702
51,535

6

 
DOGWOOD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



20 (2023 - 20) Ordinary A shares of £1.00 each
20
20
20 (2023 - 20) Ordinary B shares of £1.00 each
20
20
60 (2023 - 60) Ordinary C shares of £1.00 each
60
60

100

100



10.


Related party transactions

As at the year end, the director was owed £480 (2023 - £226,029) from the company. This loan is interest free and repayable on demand.
 

 
7