Bulldog Licensing Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06078044 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2024

FOR

BULLDOG LICENSING LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

5

8,419

19,311

CURRENT ASSETS

Debtors

6

25,764

25,180

Cash at bank and in hand

167,759

268,602

193,523

293,782

CREDITORS

Amounts falling due within one year

7

84,486

92,764

NET CURRENT ASSETS

109,037

201,018

TOTAL ASSETS LESS CURRENT
LIABILITIES

117,456

220,329

CREDITORS

Amounts falling due after more than one
year

8

11,333

38,533

NET ASSETS

106,123

181,796

CAPITAL AND RESERVES

Called up share capital

11

1,000

Share premium

1,000

Non-distributable reserve

1,522

7,710

Retained earnings

102,601

172,086

SHAREHOLDERS' FUNDS

106,123

181,796

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 September 2025 and were signed by:

Mr R G Corney - Director

1.	STATUTORY INFORMATION

Bulldog Licensing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

06078044

Registered office:

Rowley

Burnt Lodge Lane

Ticehurst

East Sussex

TN5 7LE

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33% on cost

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

All fixed assets are initially recorded at cost.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Office

fittings

vehicles

equipment

Totals

£

COST OR VALUATION

At 1 January 2024

6,800

22,513

9,614

38,927

Additions

-

2,931

Revaluations

-

(8,250

)

-

(8,250

)

At 31 December 2024

6,800

14,263

12,545

33,608

DEPRECIATION

At 1 January 2024

6,784

7,513

5,319

19,616

Charge for year

16

3,750

1,807

5,573

At 31 December 2024

6,800

11,263

7,126

25,189

NET BOOK VALUE

At 31 December 2024

-

3,000

5,419

8,419

At 31 December 2023

16

15,000

4,295

19,311

Cost or valuation at 31 December 2024 is represented by:

Fixtures

and

Motor

Office

fittings

vehicles

equipment

Totals

£

Valuation in 2020

-

9,518

-

9,518

Valuation in 2024

-

(8,250

)

-

(8,250

)

Cost

6,800

12,995

12,545

32,340

6,800

14,263

12,545

33,608

The company revalued its motor vehicle to £15,000 as at 31 December 2019. Based on annual reviews by the director using external market data, it was deemed that the fair value remained unchanged from 2019 to 2023. As such, no depreciation was charged in those periods in line with the revaluation model under FRS 102.

In the year ended 31 December 2024, the company assessed a fall in fair value of the motor vehicle to £3,000. A depreciation charge of £3,750 was recognised for the year, based on 25% reducing balance on the prior revalued amount. A further revaluation adjustment of £8,250 was made to reduce the carrying value to fair value. This adjustment was recognised through the fair value reserve and deferred tax provision at 25%.

The fair value reserve at the year-end stands at £1,522, representing the net remaining uplift over the depreciated original cost base.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

3,830

-

Other debtors

13

-

Deferred tax asset

21,921

25,180

25,764

25,180

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

27,200

Trade creditors

30,274

55,978

PAYE and social security

8,934

2,921

VAT

2,754

4,036

Other creditors

5,391

761

Accruals and deferred income

9,933

1,868

84,486

92,764

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Bank loans - 1-2 years

11,333

27,200

Bank loans - 2-5 years

-

11,333

38,533

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loans

38,533

65,733

The bank loan is secured by a charge against the company's assets.

10.	DEFERRED TAX

£

Balance at 1 January 2024

(25,180

)

Provided during year

3,259

Balance at 31 December 2024

(21,921

)

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

1,000

Ordinary

£1

1,000