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Registration number: 09251266

Elite Dogs Limited

Filleted Unaudited Financial Statements

for the Period from 1 October 2022 to 31 March 2024

 

Elite Dogs Limited
(Registration number: 09251266)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Elite Dogs Limited
(Registration number: 09251266)

Company Information

Director

B Rothon

Registered office

White House Farm
Ashwater
Beaworthy
Devon
EX21 5DD

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Elite Dogs Limited
(Registration number: 09251266)

Balance Sheet as at 31 March 2024

Note

2024
£

2022
£

Fixed assets

 

Tangible assets

5

70,259

78,854

Current assets

 

Stocks

6

80,058

75,030

Debtors

7

44,764

45,609

Cash at bank and in hand

 

734,921

924,042

 

859,743

1,044,681

Creditors: Amounts falling due within one year

8

(191,066)

(123,754)

Net current assets

 

668,677

920,927

Total assets less current liabilities

 

738,936

999,781

Provisions for liabilities

(6,277)

(6,434)

Net assets

 

732,659

993,347

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

732,658

993,346

Total equity

 

732,659

993,347

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

 

Elite Dogs Limited
(Registration number: 09251266)

Balance Sheet as at 31 March 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 21 November 2024
 

.........................................
B Rothon
Director

 

Elite Dogs Limited
(Registration number: 09251266)

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2024

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:
White House Farm
Ashwater
Beaworthy
Devon
EX21 5DD

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.

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.

Tax

The tax expense for the period comprises current and deferred 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.

 

Elite Dogs Limited
(Registration number: 09251266)

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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

Freehold property

10% reducing balance basis

Plant and machinery

20% reducing balance basis

Fixtures and fittings

18% reducing balance basis

Office equipment

25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

written off in year of acquisition

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Elite Dogs Limited
(Registration number: 09251266)

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

 

Elite Dogs Limited
(Registration number: 09251266)

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 5 (2022 - 5).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2022

3,112

3,112

At 31 March 2024

3,112

3,112

Amortisation

At 1 October 2022

3,112

3,112

At 31 March 2024

3,112

3,112

Carrying amount

At 31 March 2024

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2022

100,304

26,778

21,496

148,578

Additions

-

1,345

7,150

8,495

At 31 March 2024

100,304

28,123

28,646

157,073

Depreciation

At 1 October 2022

47,184

11,087

11,453

69,724

Charge for the period

7,968

4,679

4,443

17,090

At 31 March 2024

55,152

15,766

15,896

86,814

Carrying amount

At 31 March 2024

45,152

12,357

12,750

70,259

At 30 September 2022

53,120

15,691

10,043

78,854

Included within the net book value of land and buildings above is £45,152 (2022 - £53,120) in respect of freehold land and buildings.
 

 

Elite Dogs Limited
(Registration number: 09251266)

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2024

6

Stocks

2024
£

2022
£

Other stocks

80,058

75,030

7

Debtors

Note

2024
£

2022
£

Trade debtors

 

22,197

29,710

Amounts owed by group undertakings and undertakings in which the company has a participating interest

9

20,807

-

Other debtors

 

-

15,899

Prepayments and accrued income

 

1,760

-

Total current trade and other debtors

 

44,764

45,609

8

Creditors

2024
£

2022
£

Due within one year

Trade creditors

23,300

10,651

Taxation and social security

164,524

109,243

Other creditors

242

860

Accrued expenses

3,000

3,000

191,066

123,754

9

Related party transactions

Transactions with the director

2024

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

12,893

20,003

(32,896)

-

         
       

 

2022

At 1 October 2021
£

Advances to director
£

At 30 September 2022
£

-

12,893

12,893

       
     

 

 

Elite Dogs Limited
(Registration number: 09251266)

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2024

10

Parent and ultimate parent undertaking

The company's immediate parent is Urmel on the Hill Limited, incorporated in England and Wales.