Dog Loves Productions Limited Filleted accounts for Companies House (small and micro)

DOG LOVES PRODUCTIONS LIMITED - Company Information

0 false false false false false false false false false true false false false false false true No description of principal activity 2020-01-01 Sage Accounts Production Advanced 2020 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 09452305 2020-01-01 2020-05-31 09452305 2020-05-31 09452305 2019-01-01 2019-12-31 09452305 2019-12-31 09452305 bus:Director2 2020-01-01 2020-05-31 09452305 core:WithinOneYear 2020-05-31 09452305 core:WithinOneYear 2019-12-31 09452305 core:ShareCapital 2020-05-31 09452305 core:ShareCapital 2019-12-31 09452305 core:RetainedEarningsAccumulatedLosses 2020-05-31 09452305 core:RetainedEarningsAccumulatedLosses 2019-12-31 09452305 bus:SmallEntities 2020-01-01 2020-05-31 09452305 bus:AuditExemptWithAccountantsReport 2020-01-01 2020-05-31 09452305 bus:FullAccounts 2020-01-01 2020-05-31 09452305 bus:SmallCompaniesRegimeForAccounts 2020-01-01 2020-05-31 09452305 bus:PrivateLimitedCompanyLtd 2020-01-01 2020-05-31

COMPANY REGISTRATION NUMBER: 09452305

Dog Loves Productions Limited

Filleted Unaudited Accounts

31 May 2020

Dog Loves Productions Limited

Statement of Financial Position

31 May 2020

	31 May 20	31 Dec 19
Note	£	£

Current assets

Stocks		396,321	1,841,665
Debtors	5	334,620	553,929
Cash at bank and in hand		23,587	102,422
		---------	------------
		754,528	2,498,016

Creditors: amounts falling due within one year	6	( 782,263)	( 2,525,323)
		---------	------------
Net current liabilities		( 27,735)	( 27,307)
		--------	--------
Total assets less current liabilities		( 27,735)	( 27,307)
		--------	--------
Net liabilities		( 27,735)	( 27,307)
		--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 27,835)	( 27,407)
	--------	--------
Shareholders deficit	( 27,735)	( 27,307)
	--------	--------

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the period ending 31 May 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts .

Dog Loves Productions Limited

Statement of Financial Position (continued)

31 May 2020

These accounts were approved by the board of directors and authorised for issue on 2 November 2020 , and are signed on behalf of the board by:

E J Glauser

Director

Company registration number: 09452305

Dog Loves Productions Limited

Notes to the Accounts

Period from 1 January 2020 to 31 May 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Level 1 Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, TN4 8BS, England.

2. Statement of compliance

These accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The accounts are prepared in sterling, which is the functional currency of the entity.

Going concern

After making enquiries, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Comparatives

The accounts cover the period from 1 January 2020 to 31 May 2020. The comparatives cover the year from 1 January 2019 to 31 December 2019.

The accounting period has been shortened to ensure that the accounting period and tax credit claim is conterminous.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.

Judgements and key sources of estimation uncertainty

There are no material judgements or estimates used in the preparation of these financial statements.

Revenue recognition

Revenue recognised in the Statement of comprehensive income represents amounts received or receivable for work carried out in producing animation programmes and is recognised upon delivery when the significant risks and rewards of ownership have been transferred to the buyer; the amount of revenue can be measured reliably; it is probably that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue not meeting these conditions is deferred on the statement of financial position.

Stocks

Work-in-progress relates to direct production costs, net of tax credits, subsidies and grants, incurred on productions not delivered during the year. Production costs are recognised in the profit and loss accounts as soon as the programme is delivered and the related production revenue is recognised.

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 debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

4. Employees

The company has been incorporated to produce an animation series entitled "Dog Loves Books". In common with the animation and television industry the majority of crew are hired on short term contracts for the duration of principal photography or are self-employed.

None of the Directors received any form of remuneration.

5. Debtors

	31 May 20	31 Dec 19
	£	£
Trade debtors	203,868	161,100
VAT recoverable	7,776	18,691
Corporation tax recoverable	122,976	374,138
	---------	---------
	334,620	553,929
	---------	---------

6. Creditors: amounts falling due within one year

	31 May 20	31 Dec 19
	£	£
Bank loans and overdrafts	231,287	704,496
Trade creditors	3,120	25,823
Amounts owed to group undertakings	291,203	347,025
Accruals and deferred income	5,000	700,500
Social security and other taxes	1,653	2,950
Other creditors	250,000	744,529
	---------	------------
	782,263	2,525,323
	---------	------------

The Bank loan has been secured against the anticipated future animation tax credit.

7. Contingent liabilities

Charges have been made against the animation series in favour of the following parties to secure their interests in the copyright of and title to the animation series: Flix Facilities Iom Limited Bank of Montreal

8. Related party transactions

The company has taken advantage of the exemption, under the terms of FRS 102 Paragraph 33.1A, not to disclose related party transactions with wholly owned subsidiaries within the group. During the year all related party transactions that took place related to the production of the animation series entitled "Dog Loves Books" and arose on an arm's-length basis through the normal course of business. As such, no further transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.

9. Controlling party

The immediate parent company is Komixx Media Limited , a company incorporated in the United Kingdom. The ultimate controlling party is Komixx Entertainment Limited, a company incorporated in the United Kingdom.