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REGISTERED NUMBER: SC445358 (Scotland)





















Unaudited Financial Statements

For The Year Ended 28 February 2018

for

A1 Toys Limited

A1 Toys Limited (Registered number: SC445358)






Contents of the Financial Statements
For The Year Ended 28 February 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A1 Toys Limited

Company Information
For The Year Ended 28 February 2018







DIRECTORS: D J Burns
K M Burns





SECRETARY: J Neil





REGISTERED OFFICE: 1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH





REGISTERED NUMBER: SC445358 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

A1 Toys Limited (Registered number: SC445358)

Balance Sheet
28 February 2018

28.2.18 28.2.17
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 517,022 613,964
Tangible assets 5 31,563 18,412
548,585 632,376

CURRENT ASSETS
Stocks 781,749 1,631,046
Debtors 6 73,991 95,308
Cash at bank 26,105 145,021
881,845 1,871,375
CREDITORS
Amounts falling due within one year 7 2,325,458 2,804,420
NET CURRENT LIABILITIES (1,443,613 ) (933,045 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(895,028

)

(300,669

)

CREDITORS
Amounts falling due after more than one
year

8

400,000

500,000
NET LIABILITIES (1,295,028 ) (800,669 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (1,295,128 ) (800,769 )
SHAREHOLDERS' FUNDS (1,295,028 ) (800,669 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

A1 Toys Limited (Registered number: SC445358)

Balance Sheet - continued
28 February 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 13 November 2018 and were signed on its behalf
by:





D J Burns - Director


A1 Toys Limited (Registered number: SC445358)

Notes to the Financial Statements
For The Year Ended 28 February 2018

1. STATUTORY INFORMATION

A1 Toys Limited is a private company, limited by shares , registered in Scotland. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

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.

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 - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss. Derivative
financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or
loss.

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.


A1 Toys Limited (Registered number: SC445358)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2018

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

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.

Going concern
Having assessed the principal risks, the directors considered it appropriate to adopt the going concern basis of
accounting in preparing the financial statements.

The company has the support of the directors and continues to restructure its business operations to reduce third
party internet sales, focus on higher margin sales through its bricks and mortar stores and its own website in
addition to controlling stock and cutting overheads. One of the key risks associated with this type of business is
to identify relevant and profitable stock lines. The directors have considerable experience in this industry and are
confident that their current stock lines will result in future profits.

As a consequence, the directors believe that the company is well placed to manage its business risks successfully
despite the current net liability position. 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 annual report and accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2017 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2017
and 28 February 2018 969,416
AMORTISATION
At 1 March 2017 355,452
Charge for year 96,942
At 28 February 2018 452,394
NET BOOK VALUE
At 28 February 2018 517,022
At 28 February 2017 613,964

A1 Toys Limited (Registered number: SC445358)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2018

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2017 1,979 - 49,842 51,821
Additions 1,198 14,750 2,407 18,355
At 28 February 2018 3,177 14,750 52,249 70,176
DEPRECIATION
At 1 March 2017 41 - 33,368 33,409
Charge for year 584 307 4,313 5,204
At 28 February 2018 625 307 37,681 38,613
NET BOOK VALUE
At 28 February 2018 2,552 14,443 14,568 31,563
At 28 February 2017 1,938 - 16,474 18,412

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.18 28.2.17
£    £   
Trade debtors 1,744 3,740
Other debtors 19,108 31,487
Prepayments 53,139 60,081
73,991 95,308

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.18 28.2.17
£    £   
Other loans - 142,149
Trade creditors 2,067,327 2,217,643
Social security and other taxes 8,329 3,785
VAT 90,675 241,184
Other creditors 142 164
Credit cards 8,405 20,986
Directors' current accounts 139,198 167,670
Accrued expenses 11,382 10,839
2,325,458 2,804,420

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.18 28.2.17
£    £   
Directors' loan accounts 400,000 500,000

A1 Toys Limited (Registered number: SC445358)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2018

9. SECURED DEBTS

The following secured debts are included within creditors:

28.2.18 28.2.17
£    £   
Other loans - 142,149

The loan was secured against stock held. It was fully repaid during the year.

10. RELATED PARTY DISCLOSURES

Within the other debtors balance of £19,108 (2017 - £31,487), there is £7,394 (2017 - £5,726) owed by the D &
K Burns Partnership, a partnership containing both directors.

Within trade creditors, there is a balance owed to the D & K Burns Partnership of £1,881 (2017 - £5,344 owed
by the partnership).

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the directors by virtue of their shareholding.