Registered number: 09265889
BARKING DOG VENTURES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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BARKING DOG VENTURES LIMITED
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COMPANY INFORMATION
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ZEDRA Corporate Reporting Services (UK) Limited
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BARKING DOG VENTURES LIMITED
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CONTENTS
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Statement of Changes in Equity
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Notes to the Financial Statements
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BARKING DOG VENTURES LIMITED
REGISTERED NUMBER:09265889
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BALANCE SHEET
AS AT 31 DECEMBER 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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BARKING DOG VENTURES LIMITED
REGISTERED NUMBER:09265889
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BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
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Capital contribution reserve
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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:
The notes on pages 4 to 6 form part of these financial statements.
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BARKING DOG VENTURES LIMITED
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
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Capital contribution reserve
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Recharge from ultimate parent undertaking - share based payments
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BARKING DOG VENTURES LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1.Accounting policies
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Basis of preparation of financial statements
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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:
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Exemption from preparing consolidated financial statements
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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.
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.
Interest income is recognised in profit or loss on an accruals basis. Interest is calculated and paid at a fixed rate per annum.
Investments in subsidiaries are measured at cost less accumulated impairment.
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%.
Short term creditors are measured at the transaction price.
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.
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BARKING DOG VENTURES LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Judgements in applying accounting policies and key sources of estimation uncertainty
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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.
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Investments in subsidiary companies
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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.
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BARKING DOG VENTURES LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Amounts owed by group undertakings
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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%.
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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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.
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.
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Post balance sheet events
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There were no adjusting or non-adjusting events occurring between the end of the reporting year and the date these financial statements were approved.
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