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REGISTERED NUMBER: 04046661 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

MIRACLE DESIGN AND PLAY LIMITED

MIRACLE DESIGN AND PLAY LIMITED (REGISTERED NUMBER: 04046661)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MIRACLE DESIGN AND PLAY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTOR: R G Howard





SECRETARY: J E Howard





REGISTERED OFFICE: The Old Brewery
Towcester Road
Milton Malsor
Northamptonshire
NN7 3AP





REGISTERED NUMBER: 04046661 (England and Wales)





ACCOUNTANTS: DNG Dove Naish LLP
Chartered Accountants
Eagle House
28 Billing Road
Northampton
NN1 5AJ

MIRACLE DESIGN AND PLAY LIMITED (REGISTERED NUMBER: 04046661)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 583,418 202,858

CURRENT ASSETS
Stocks 708,405 389,055
Debtors 5 3,070,541 2,118,839
Cash at bank and in hand 2,188,486 1,431,139
5,967,432 3,939,033
CREDITORS
Amounts falling due within one year 6 3,778,026 2,755,048
NET CURRENT ASSETS 2,189,406 1,183,985
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,772,824

1,386,843

PROVISIONS FOR LIABILITIES 95,354 17,007
NET ASSETS 2,677,470 1,369,836

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 2,677,270 1,369,636
SHAREHOLDERS' FUNDS 2,677,470 1,369,836

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

MIRACLE DESIGN AND PLAY LIMITED (REGISTERED NUMBER: 04046661)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 October 2023 and were signed by:





R G Howard - Director


MIRACLE DESIGN AND PLAY LIMITED (REGISTERED NUMBER: 04046661)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Miracle Design and Play 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

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.
Freehold property - 2% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% - 33.3% on cost

Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

MIRACLE DESIGN AND PLAY LIMITED (REGISTERED NUMBER: 04046661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

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. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position 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.

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.

MIRACLE DESIGN AND PLAY LIMITED (REGISTERED NUMBER: 04046661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 25 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2022 190,800 7,928 40,153
Additions - 34,749 358,154
Disposals - - (27,093 )
At 30 April 2023 190,800 42,677 371,214
DEPRECIATION
At 1 May 2022 55,968 3,373 32,018
Charge for year 3,816 4,948 32,973
Eliminated on disposal - - (25,808 )
At 30 April 2023 59,784 8,321 39,183
NET BOOK VALUE
At 30 April 2023 131,016 34,356 332,031
At 30 April 2022 134,832 4,555 8,135

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2022 24,293 158,170 421,344
Additions 2,353 53,560 448,816
Disposals - (43,471 ) (70,564 )
At 30 April 2023 26,646 168,259 799,596
DEPRECIATION
At 1 May 2022 2,520 124,607 218,486
Charge for year 6,459 18,775 66,971
Eliminated on disposal - (43,471 ) (69,279 )
At 30 April 2023 8,979 99,911 216,178
NET BOOK VALUE
At 30 April 2023 17,667 68,348 583,418
At 30 April 2022 21,773 33,563 202,858

MIRACLE DESIGN AND PLAY LIMITED (REGISTERED NUMBER: 04046661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,713,532 1,821,733
Other debtors 181 100
Directors' current accounts 7,517 -
Prepayments and accrued income 349,311 297,006
3,070,541 2,118,839

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 392,217 429,465
Tax 374,328 151,766
Social security and other taxes 55,000 45,790
VAT 360,482 285,660
Other creditors 6,298 12,817
Directors' current accounts - 43,839
Accruals and deferred income 2,589,701 1,785,711
3,778,026 2,755,048

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 164,123 25,305
Between one and five years 335,739 26,730
499,862 52,035

8. TRANSACTIONS WITH DIRECTORS

The following advances and credits to a director subsisted during the years ended 30 April 2023 and 30 April 2022:

2023 2022
£    £   
R G Howard
Balance outstanding at start of year (43,839 ) 413
Amounts advanced 516,356 1,488,301
Amounts repaid (465,000 ) (1,532,553 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,517 (43,839 )