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Registered number: 09265889









BARKING DOG VENTURES LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023


 
BARKING DOG VENTURES LIMITED
 

 
COMPANY INFORMATION


Directors
H M Buser 
C F Wickers 




Registered number
09265889



Registered office
5 New Street Square
London

United Kingdom

EC4A 3TW




Independent auditors
ZEDRA Corporate Reporting Services (UK) Limited






 
BARKING DOG VENTURES LIMITED
 


CONTENTS



Page
Balance Sheet
 
1 - 2
Statement of Changes in Equity
 
3
Notes to the Financial Statements
 
4 - 6



 
BARKING DOG VENTURES LIMITED
REGISTERED NUMBER:09265889


BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Fixed asset investments
 4 
688,183
865,626

  
688,183
865,626

Current assets
  

Debtors: amounts falling due within one year
 5 
8,090,761
7,632,793

Cash at bank and in hand
  
19,168
23,007

  
8,109,929
7,655,800

Creditors: amounts falling due within one year
 6 
(1,976)
(2,899)

Net current assets
  
 
 
8,107,953
 
 
7,652,901

Total assets less current liabilities
  
8,796,136
8,518,527

  

Net assets
  
8,796,136
8,518,527

Page 1


 
BARKING DOG VENTURES LIMITED
REGISTERED NUMBER:09265889

    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
  
66,943
66,943

Share premium account
 7 
383,999
383,999

Capital contribution reserve
 7 
2,993,439
3,170,881

Other reserves
 
7,608
7,608

Profit and loss account
 
5,344,147
4,889,096

  
8,796,136
8,518,527


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 statement of comprehensive income 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: 




H M Buser
Director

Date: 26 November 2024

The notes on pages 4 to 6 form part of these financial statements.

Page 2


 
BARKING DOG VENTURES LIMITED


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023



Called up share capital
Share premium account
Capital contribution reserve
Other reserves
Profit and loss account
Total equity


£
£
£
£
£
£



At 1 January 2022
66,943
383,999
2,690,596
7,608
4,461,549
7,610,695





Profit for the year
-
-
-
-
427,547
427,547


Capital contributions
-
-
480,285
-
-
480,285





At 1 January 2023
66,943
383,999
3,170,881
7,608
4,889,096
8,518,527





Profit for the year
-
-
-
-
455,051
455,051


Recharge from ultimate parent undertaking - share based payments
-
-
(1,071,947)
-
-
(1,071,947)


Share based payments
-
-
894,505
-
-
894,505



At 31 December 2023
66,943
383,999
2,993,439
7,608
5,344,147
8,796,136



Page 3 


 
BARKING DOG VENTURES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies

 
1.1

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
1.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
1.3

Going concern

The Company is in a net asset position supported primarily by an intercompany receivable due from its subsidiary. The directors have considered the parent company's ability to provide financial support and have received written confirmation that it will continue to do so for a period of at least 12 months from the date of signing these financial statements. For this reason, the directors continue to adopt the going concern basis in preparing the financial statements.

 
1.4

Interest income

Interest income is recognised in profit or loss on an accruals basis. Interest is calculated and paid at a fixed rate per annum.

 
1.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
1.6

Debtors

Amounts owed by group undertakings are intercompany loans measured at cost. These loans are unsecured, either repayable in full together with accrued interest or immediately on demand. Interest is being charged at an annual interest rate of 6%.

  
1.7

Creditors

Short term creditors are measured at the transaction price.


2.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 27 November 2024 by Nick Whitehead FCCA (Senior Statutory Auditor) on behalf of ZEDRA Corporate Reporting Services (UK) Limited.

Page 4


 
BARKING DOG VENTURES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of financial statements in conformity with FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The estimates and assumptions that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities are addressed below.
Impairment of investments
The directors review fixed asset investments annually for any indication of impairment based on available financial and performance information in relation to the investments in subsidiaries. As no indicators of impairment were identified, it was considered appropriate not to adjust the value of these investments.


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
865,626


Share based payment
894,505


RSU recharge
(1,071,948)



At 31 December 2023
688,183




Employees of the subsidiaries held by the Company are granted RSUs and share options in the ultimate parent company. As such, the share based payment figure relates to the pushdown of the expense from the ultimate parent company to the relevant subsidiaries, through the Company. 
There is also an RSU recharge agreement in place between the ultimate parent company and its subsidiaries and the ultimate parent company. The recharge value is attached to the current market value of the ultimate parent company's share price. 





 

Page 5


 
BARKING DOG VENTURES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
8,090,761
7,632,793

8,090,761
7,632,793


Amounts owed by group undertakings relates to amounts loaned by the Company to the subsidiary, Dog Buddy UK Ltd. The loan is unsecured and repayable on demand or in full with interest at the end of the ten year term in 2028. Interest is being charged at an annual interest rate of 6%.


6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Accruals and deferred income
1,976
2,899

1,976
2,899



7.


Reserves

Share premium account

The share premium reserve represents the amount received by the Company over and above the nominal value of shares issued, amounting to £383,999 as at the year-end.

Capital contribution reserve

During 2023, the Company recorded additional capital contributions of £894,505 (2022: £480,285) relating to the pushdown of share-based payments expense from the immediate parent company to employees of the subsidiary undertakings of the Company. The Company also recorded a reduction of capital contribution of £1,071,948 relating to the pushdown of an RSU recharge, which is valued based on the current market rate value of the ultimate parent company's share price. 


8.


Controlling party

The ultimate parent company and controlling party is Rover Group, Inc. a company incorporated in the USA. The registered office of the controlling party is 711 Capitol Way S, Ste 204, Olympia, WA 98501, USA.


9.


Post balance sheet events

There were no adjusting or non-adjusting events occurring between the end of the reporting year and the date these financial statements were approved.

 
Page 6