Company registration number 11576486 (England and Wales)
WEREDOG CREATIONS LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
WEREDOG CREATIONS LTD
COMPANY INFORMATION
Directors
Mr R Hayward
Mr J Mulders
Mr D Godfrey
Mr M Sullivan
Secretary
Mr D Godfrey
Company number
11576486
Registered office
Icarus House
Hawkfield Close
Hawkfield Business Park
Bristol
Avon
BS14 0BN
Auditor
ML Audit LLP
Statutory Auditors
Freshford House
Redcliffe Way
Bristol
BS1 6NL
WEREDOG CREATIONS LTD
CONTENTS
Page
Directors' report
1
Directors' responsibilities statement
2
Independent auditor's report
3 - 6
Profit and loss account
7
Balance sheet
8
Notes to the financial statements
9 - 16
WEREDOG CREATIONS LTD
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 1 -

The directors present their annual report and financial statements for the period ended 31 December 2024.

Principal activities

The principal activity of the company continued to be that of manufacturing and sale of adult lifestyle products.

Directors

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

Mr R Hayward
Mr J Mulders
Mr D Godfrey
Mr M Sullivan
Auditor

Milsted Langdon LLP are deemed to be re-appointed under section 485 of the Companies Act 2006.

Each of the persons who is a director at the date of approval of this report confirm that:

- so far as each director is aware, there is no relevant audit information of which the company's auditor is unaware; and

- each director has taken all steps that they ought to have taken as a director to make themself aware of any relevant audit information and to establish that the company's auditor is aware of that information.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr D Godfrey
Director
30 January 2026
WEREDOG CREATIONS LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 2 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including Financial Reporting Standards 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

WEREDOG CREATIONS LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF WEREDOG CREATIONS LTD
- 3 -
Disclaimer of opinion

We were engaged to have audited the financial statements of Weredog Creations Ltd (the ‘company’) for the period ended 31 December 2024 which comprise the balance sheet as at 31 December 2024, the profit and loss account, and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 Section 1A ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

We do not express an opinion on the accompanying financial statements of the company. Because of the significance of the matter described in the basis for disclaimer or opinion section of our report, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements.

Basis for disclaimer of opinion

We were not appointed as auditors of the company until after 31 December 2024 and thus did not observe the counting of physical inventories at the beginning and end of the year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 30 September 2023 an d 31 December 2024, which are stated in the statements of financial position at £194,047 and £171,244, respectively. Additionally, for finished goods there was stock valued at £110,136 for which there was insufficient accounting information to determine the cost of individual items. As a result, we were unable to determine whether any adjustments were required to the reported stock balance as at 31 December 2024, or whether there was any consequential impact on the cost of sales for that period.

The company recognised sales for the year ended 30 September 2023 of £1,587,817. Sales were recognised at the point at which the order was placed and/or payment received, rather than the point at which the order was satisfied by the company The company was unable to provide the appropriate accounting information to quantify the impact of this matter, and we are unable to determine the impact on level of deferred revenues which should have been reported at 30 September 2023. Consequently, we were unable to determine whether any adjustment to the reported balance was necessary at 30 September 2023, or whether there was any consequential impact on the sales reported for the period ended 31 December 2024.

In the prior period, the financial statements of the company were not audited and as noted above, we were unable to satisfy ourselves concerning the opening balances as at 30 September 2023.

Consequently, we were unable to determine whether any adjustment to the figures were necessary in the period ending 31 December 2024.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Opinions on other matters prescribed by the Companies Act 2006

Notwithstanding our disclaimer of an opinion on the financial statements, in our opinion, based

on the work undertaken in the course of the audit:

- the information given in the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the directors’ report has been prepared in accordance with applicable legal requirements

WEREDOG CREATIONS LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF WEREDOG CREATIONS LTD (CONTINUED)
- 4 -
Matters on which we are required to report by exception

Notwithstanding our disclaimer of an opinion on the financial statements, in the light of the

knowledge and understanding of the company and its environment obtained in the course of

the audit performed subject to the pervasive limitation described above, we have not identified

material misstatements in the directors’ report.

Arising from the limitation of our work referred to above:

- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and

- we were unable to determine whether adequate accounting records have been kept.

We have nothing to report in respect of the following matters in relation to which the Companies

Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors’ remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit; or

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

WEREDOG CREATIONS LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF WEREDOG CREATIONS LTD (CONTINUED)
- 5 -
Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

In planning and designing our audit tests, we identify and assess the risks of material mis-statements, whether due to fraud or error. Our assessment of these risks includes the following:

• | the nature of the industry and sector, control environment and business performance including the key drivers for directors’ remuneration, bonus levels and performance targets;
• | results of our enquiries of management about their own identification and assessment of the risks of irregularities;
• | any matters we identified having made enquiries of management about their policies and procedures relating to:
| • | identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance;
| • | detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
| • | the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

• | the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, through discussions with the directors, and from our commercial knowledge and experience of the sector in which the company operates, to enable us to identify the key laws and regulations applicable to the company. We focused on specific laws and regulations which we considered may have a direct material effect on the financial statement or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation.

WEREDOG CREATIONS LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF WEREDOG CREATIONS LTD (CONTINUED)
- 6 -

As a result of performing the above, our procedures to respond to the risks identified included the following:

• | reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
• | enquiring of management concerning actual and potential litigation and claims;
• | reviewing correspondence with HMRC, and the company's legal advisors;
• | reading minutes of meetings of those charged with governance;
• | performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
• | obtained an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and
• | in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters which we are required to address

We draw attention to the fact that the comparative figures for the year ended 30 September 2023 are unaudited.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Guy Armitage-Norton
Senior Statutory Auditor
For and on behalf of ML Audit LLP
4 February 2026
Statutory Auditors
Freshford House
Redcliffe Way
Bristol
BS1 6NL
WEREDOG CREATIONS LTD
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 7 -
Restated and unaudited
Period
Year
ended
ended
31 December
30 September
2024
2023
£
£
Turnover
2,915,415
1,587,817
Cost of sales
(1,714,951)
(921,856)
Gross profit
1,200,464
665,961
Administrative expenses
(859,285)
(525,209)
Operating profit
341,179
140,752
Interest receivable and similar income
385
452
Interest payable and similar expenses
(2,783)
(227)
Profit before taxation
338,781
140,977
Tax on profit
(66,306)
-
0
Profit for the financial period
272,475
140,977

The profit and loss account has been prepared on the basis that all operations are continuing operations.

The company has no recognised gains or losses for this year or the preceding period other than the results above. Accordingly, a separate Statement of Other Comprehensive Income has not been presented.
WEREDOG CREATIONS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 8 -
Restated and unaudited
31 December 2024
30 September 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
82,430
35,116
Current assets
Stocks
171,244
194,047
Debtors
5
123,797
115,614
Cash at bank and in hand
593,538
121,913
888,579
431,574
Creditors: amounts falling due within one year
6
(571,388)
(115,728)
Net current assets
317,191
315,846
Total assets less current liabilities
399,621
350,962
Creditors: amounts falling due after more than one year
7
(29,944)
(274,368)
Provisions for liabilities
(20,608)
-
0
Net assets
349,069
76,594
Capital and reserves
Called up share capital
10,439
10,439
Share premium account
137,861
137,861
Profit and loss reserves
200,769
(71,706)
Total equity
349,069
76,594

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

The financial statements were approved by the board of directors and authorised for issue on 30 January 2026 and are signed on its behalf by:
Mr D Godfrey
Director
Company registration number 11576486 (England and Wales)
WEREDOG CREATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 9 -
1
Accounting policies
Company information

Weredog Creations Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Icarus House, Hawkfield Close, Hawkfield Business Park, Bristol, Avon, BS14 0BN.

1.1
Reporting period

The accounts were prepared for a period of 15 months ending on 31st December 2024. This was due to the directors wishing to align the year-end date to the parent company. The comparative figures are for the year ended 30th September 2023 and consequently are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

The accounts have been prepared on the assumption that the company is able to continue as a going concern.true

The directors have made an assessment and have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least twelve months from the date of signing this report.

The parent company, Bad Dragon Enterprises Inc. has indicated its intention to provide financial support to the Company to meet its liabilities as an when they become due for at least 12 months from the date of approval of the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on delivery of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

WEREDOG CREATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 10 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
25% Reducing Balance
Plant and equipment
25% Straight Line
Computers
50% Straight Line
Motor vehicles
25% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

WEREDOG CREATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 11 -
1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

WEREDOG CREATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 12 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.16

Finance income and costs

Interest income and expenses are recognised through the profit and loss account using the effective interest method.

1.17

Hire purchase and finance lease agreements

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account.

WEREDOG CREATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 13 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which are considered to have significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

Unaudited
2024
2023
Number
Number
Total
17
13
4
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 October 2023
17,755
14,805
20,391
5,643
58,594
Additions
4,305
5,961
22,192
46,080
78,538
Disposals
-
0
-
0
-
0
(5,643)
(5,643)
At 31 December 2024
22,060
20,766
42,583
46,080
131,489
Depreciation and impairment
At 1 October 2023
487
7,878
11,703
3,410
23,478
Depreciation charged in the period
6,383
5,312
13,455
3,840
28,990
Eliminated in respect of disposals
-
0
-
0
-
0
(3,409)
(3,409)
At 31 December 2024
6,870
13,190
25,158
3,841
49,059
Carrying amount
At 31 December 2024
15,190
7,576
17,425
42,239
82,430
At 30 September 2023
17,268
6,927
8,688
2,233
35,116
WEREDOG CREATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 14 -
5
Debtors
Unaudited
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
232
-
0
Other debtors
123,565
115,614
123,797
115,614
6
Creditors: amounts falling due within one year
Restated and unaudited
2024
2023
£
£
Bank loans
2,640
2,640
Trade creditors
81,368
88,271
Amounts owed to parent company
259,209
-
0
Corporation tax
49,047
-
0
Other taxation and social security
15,565
-
0
Other creditors
163,559
24,817
571,388
115,728

7
Creditors: amounts falling due after more than one year
Restated and unaudited
2024
2023
£
£
Bank loans and overdrafts
11,822
15,159
Amounts owed to parent company
-
0
259,209
Other creditors
18,122
-
0
29,944
274,368

WEREDOG CREATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 15 -
8
Retirement benefit schemes
Unaudited
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
11,974
5,669

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

At the year end there were pensions of £2,212 (202 3: £209) deducted from salaries but not yet paid over to the pension scheme administrator.

9
Operating lease commitments
Lessee

At the year end, the company had commitments under non-cancellable operating leases of £249,167 (20 2 3: £341,375), as well as commitments under hire purchase of £19,825 (2023: £Nil).

10
Related party transactions

At the year end a total of £259,209 (2023: £259,209) was held in other creditors in relation to amounts received from Bad Dragon Enterprises Inc, the parent company. In the current year this amount is included withi n creditors due within one year, in the previous year it was included within creditors due after more than one year.

11
Directors' transactions
Description
% Rate
Opening balance
Closing balance
£
£
Director's loan
-
8,850
8,850
8,850
8,850
12
Parent company

The ultimate parent company and controlling company is Bad Dragon Enterprises Inc, a company that is incorporated at the address 16845 N 29th Avenue, Phoenix, Arizona, 85053, USA.

Bad Dragon Enterprises Inc. has no controlling party, they are the smallest and largest group to prepare consolidated accounts.

WEREDOG CREATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 16 -
13
Prior period adjustment
Changes to the balance sheet
As previously reported
Adjustment
As restated at 30 Sep 2023
£
£
£
Creditors due within one year
Other creditors
(197,821)
173,004
(24,817)
Creditors due after one year
Other creditors
(169,455)
169,455
-
Amounts owed to parent company
-
(259,209)
(259,209)
Net assets
(6,656)
83,250
76,594
Capital and reserves
Share premium
54,611
83,250
137,861
Total equity
(6,656)
83,250
76,594
Changes to the profit and loss account
As previously reported
Adjustment
As restated
Period ended 30 September 2023
£
£
£
Cost of sales
(719,158)
(202,698)
(921,856)
Administrative expenses
(727,907)
202,698
(525,209)
Profit for the financial period
140,977
-
140,977
Notes to reconciliation
Adjustment to share premium

The total share premium balance for the year ended 30 September 2023 has been corrected, increasing by £83,250, with amounts owed to parent company reducing by £83,250.

Reclassification of amounts due to parent undertaking

The total amounts due to the parent undertaking for the year ended 30 September 2023 has been corrected, increasing by £342,459, with current other creditors reducing by £173,004, and long-term other creditors increasing by £259,209.

Adjustment to COS/Admin split for wages

The split of wages in the P&L for the year ended 30 September 2023 has been corrected, with cost of sales decreasing by £202,698, and administrative expenses increasing by £202,698.

WEREDOG CREATIONS LTD
MANAGEMENT INFORMATION
FOR THE PERIOD ENDED 31 DECEMBER 2024
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