Dynamic Dogs Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04960931 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Dynamic Dogs Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms L Carson

SECRETARY:

Mr Rhodri Bowen

REGISTERED OFFICE:

Little Green

Westra

Dinas Powys

South Glamorgan

CF64 4HA

REGISTERED NUMBER:

04960931 (England and Wales)

ACCOUNTANTS:

HRA (ACCOUNTING) LIMITED

Accountants

Cardiff House

Cardiff Road

Vale of Glamorgan

CF63 2AW

FIXED ASSETS

Intangible assets

4

4,079

8,157

Tangible assets

5

278,996

339,626

283,075

347,783

CURRENT ASSETS

Stocks

46,200

47,500

Debtors

6

6,438

11,716

Cash at bank

158,012

42,974

210,650

102,190

CREDITORS

Amounts falling due within one year

7

281,776

313,432

NET CURRENT LIABILITIES

(71,126

)

(211,242

)

TOTAL ASSETS LESS CURRENT LIABILITIES

211,949

136,541

CREDITORS

Amounts falling due after more than one year

8

(12,931

)

(20,739

)

PROVISIONS FOR LIABILITIES

(48,422

)

(58,699

)

NET ASSETS

150,596

57,103

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

150,496

57,003

150,596

57,103

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director on 28 November 2019 and were signed by:

Ms L Carson - Director

1.	STATUTORY INFORMATION

Dynamic Dogs Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated

depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at

the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent

accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other

comprehensive income and accumulated in equity, except to the extent it reverses a revaluation

decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount

of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any

previously recognised revaluation increase accumulated in equity in respect of that asset. Where a

revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of

that asset, the excess shall be recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

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.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable

amount being estimated where such indicators exist. Where the carrying value exceeds the

recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for

possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of

an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to

which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that

includes the asset and generates cash inflows that largely independent of the cash inflows from other

assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the

acquisition date, allocated to each of the cash-generating units that are expected to benefit from the

synergies of the combination, irrespective of whether other assets or liabilities of the company are

assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past

event, it is probable that the entity will be required to transfer economic benefits in settlement and the

amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the

statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at

the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current

best estimate of the amount that would be required to settle the obligation.

Any adjustments to the amounts previously recognised are recognised in profit or loss unless the

provision was originally recognised as part of the cost of an asset. when a provision is measured at the

present value of the amount expected to be required to settle the obligation, the unwinding of the

discount is recognised as a finance cost in profit or loss in the period it arises.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2018 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2018

and 31 March 2019

37,828

AMORTISATION

At 1 April 2018

29,672

Charge for year

4,077

At 31 March 2019

33,749

NET BOOK VALUE

At 31 March 2019

4,079

At 31 March 2018

8,156

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2018

391,265

226,234

116,696

Additions

5,491

1,722

3,638

At 31 March 2019

396,756

227,956

120,334

DEPRECIATION

At 1 April 2018

188,045

176,506

67,662

Charge for year

33,062

18,414

13,168

At 31 March 2019

221,107

194,920

80,830

NET BOOK VALUE

At 31 March 2019

175,649

33,036

39,504

At 31 March 2018

203,220

49,728

49,034

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2018

24,778

56,772

815,745

Additions

-

7,539

18,390

At 31 March 2019

24,778

64,311

834,135

DEPRECIATION

At 1 April 2018

10,841

33,065

476,119

Charge for year

3,484

10,892

79,020

At 31 March 2019

14,325

43,957

555,139

NET BOOK VALUE

At 31 March 2019

10,453

20,354

278,996

At 31 March 2018

13,937

23,707

339,626

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Other debtors

6,438

11,716

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans and overdrafts

141

-

Hire purchase contracts

7,808

7,808

Taxation and social security

53,893

19,940

Other creditors

219,934

285,684

281,776

313,432

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts

12,931

20,739

9.	FINANCIAL INSTRUMENTS

A financial asset or a financial liability is recognised only when the company becomes a party to the

contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement

constitutes a financing transaction, where it is recognised at the present value of the future payments

discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or

preference shares are publicly traded or their fair value can otherwise be measured reliably, the

investment is subsequently measured at fair value with changes in fair value recognised in profit or

Ioss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless

payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is

not a market rate, in which case the asset is measured at the present value of the future payments

discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in

profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of

impairment at the end of each reporting date. If there is objective evidence of impairment, an

impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually

significant, these are assessed individually for impairment. Other financial assets are either assessed

individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the

reversal does not result in a carrying amount of the financial asset that exceeds what the carrying

amount would have been had the impairment not previously been recognised.