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REGISTERED NUMBER: 06509360 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

ADVENTURE TOYS LTD

ADVENTURE TOYS LTD (REGISTERED NUMBER: 06509360)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ADVENTURE TOYS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Helen Belinda Metcalfe
Duncan Vernon Neil Metcalfe





SECRETARY: Helen Belinda Metcalfe





REGISTERED OFFICE: Southolme Farm
Little Smeaton
Northallerton
North Yorkshire
DL6 2HJ





REGISTERED NUMBER: 06509360 (England and Wales)





ACCOUNTANTS: Walter Dawson & Son
Chartered Accountants
York House
Market Place
Leyburn
North Yorkshire
DL8 5AT

ADVENTURE TOYS LTD (REGISTERED NUMBER: 06509360)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,994 3,995
2,994 3,995

CURRENT ASSETS
Stocks 137,773 119,920
Debtors 6 8,791 3,749
Cash at bank and in hand 210,365 301,971
356,929 425,640
CREDITORS
Amounts falling due within one year 7 122,293 159,347
NET CURRENT ASSETS 234,636 266,293
TOTAL ASSETS LESS CURRENT
LIABILITIES

237,630

270,288

PROVISIONS FOR LIABILITIES 749 759
NET ASSETS 236,881 269,529

CAPITAL AND RESERVES
Called up share capital 500 500
Profit and loss account 236,381 269,029
236,881 269,529

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

ADVENTURE TOYS LTD (REGISTERED NUMBER: 06509360)

BALANCE SHEET - continued
31 JANUARY 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:




Helen Belinda Metcalfe - Director



Duncan Vernon Neil Metcalfe - Director


ADVENTURE TOYS LTD (REGISTERED NUMBER: 06509360)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Adventure Toys Ltd 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.

GOODWILL
Goodwill has been amortised evenly over its estimated useful life of 10 years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 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.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

ADVENTURE TOYS LTD (REGISTERED NUMBER: 06509360)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 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.

INCOME RECOGNITION
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 120,000
AMORTISATION
At 1 February 2022
and 31 January 2023 120,000
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery Equipment Totals
£    £    £   
COST
At 1 February 2022
and 31 January 2023 16,851 14,244 31,095
DEPRECIATION
At 1 February 2022 13,374 13,726 27,100
Charge for year 870 131 1,001
At 31 January 2023 14,244 13,857 28,101
NET BOOK VALUE
At 31 January 2023 2,607 387 2,994
At 31 January 2022 3,477 518 3,995

ADVENTURE TOYS LTD (REGISTERED NUMBER: 06509360)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,428 2,819
Other debtors 7,363 930
8,791 3,749

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,557 7,019
Taxation and social security 8,172 17,509
Other creditors 109,564 134,819
122,293 159,347

8. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund and amounted to £3,320 (2022: £3,524). Contributions totalling £205 (2022: £340) were payable to the fund at the year end and are included in creditors.

9. RELATED PARTY DISCLOSURES

Mrs H B Metcalfe has control over a majority of shares in the company, and together with her involvement in its day-to-day management, is deemed to be the controlling party for the purposes of Financial Reporting Standard No. 102.

During the year the company paid the directors, Mr D V N Metcalfe and Mrs H B Metcalfe £416 (2022:£416) for the use of their home as an office to cover utility costs incurred.

Creditors falling due within one year include the following the directors' loans owed to Mr D V N Metcalfe and Mrs H B Metcalfe £104,293 (2022: £128,560).