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REGISTERED NUMBER: SC378017 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

DESIGNER KIDS AND BABY LTD

DESIGNER KIDS AND BABY LTD (REGISTERED NUMBER: SC378017)






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


DESIGNER KIDS AND BABY LTD

COMPANY INFORMATION
for the Year Ended 31 January 2023







DIRECTOR: Miss J Baker





REGISTERED OFFICE: 5 Argyle Street
Paisley
PA1 2ET





REGISTERED NUMBER: SC378017 (Scotland)





ACCOUNTANTS: John M Taylor & Co
Chartered Accountants
9 Glasgow Road
PAISLEY
Renfrewshire
PA1 3QS

DESIGNER KIDS AND BABY LTD (REGISTERED NUMBER: SC378017)

BALANCE SHEET
31 January 2023

31.1.22 31.1.23
£    £    Notes £    £   
FIXED ASSETS
- Intangible assets 5 -
243,688 Tangible assets 6 216,805
- Investments 7 1
243,688 216,806

CURRENT ASSETS
120,000 Stocks 381,664
126,049 Debtors 8 172,533
470,428 Cash at bank 154,772
716,477 708,969
CREDITORS
201,559 Amounts falling due within one year 9 186,646
514,918 NET CURRENT ASSETS 522,323
758,606 TOTAL ASSETS LESS CURRENT
LIABILITIES

739,129

CREDITORS
(36,957 ) Amounts falling due after more than one
year

10

(23,394

)

(7,391 ) PROVISIONS FOR LIABILITIES (7,950 )
714,258 NET ASSETS 707,785

CAPITAL AND RESERVES
1,000 Called up share capital 13 1,000
713,258 Retained earnings 706,785
714,258 SHAREHOLDERS' FUNDS 707,785

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 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.

DESIGNER KIDS AND BABY LTD (REGISTERED NUMBER: SC378017)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 October 2023 and were signed by:





Miss J Baker - Director


DESIGNER KIDS AND BABY LTD (REGISTERED NUMBER: SC378017)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Designer Kids and Baby Ltd 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

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

The significant policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.



Turnover
Turnover represents the total invoice value, less credit notes, excluding value added tax of sales made during the period.

Revenue is recognised when goods or services are received by the customer and the risks and rewards of ownership have been passed to them. Revenue is measured at the fair value of consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts and value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, 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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 1% on cost
Improvements to property - 10% on cost
Plant & machinery - 20% on cost
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

DESIGNER KIDS AND BABY LTD (REGISTERED NUMBER: SC378017)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023

3. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks consist of goods for resale and are valued at the lower of purchase cost and estimated selling price less costs to sell, after making due allowances for obsolete and slow moving items.

When stocks are sold, the carrying amount of these stock is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction on the amount of stocks recognised as an expense in the period in which the reversal occurs.

Taxation
Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Cash & cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals 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.

Financial instruments
Basic financial instruments are recognised at amortised cost. Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the instrument and are classified in accordance with the underlying economic reality.

Dividends paid
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

DESIGNER KIDS AND BABY LTD (REGISTERED NUMBER: SC378017)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 26 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 40,000
AMORTISATION
At 1 February 2022
and 31 January 2023 40,000
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

6. TANGIBLE FIXED ASSETS
Improvement
Freehold to
Totals property property
£    £    £   
COST
At 1 February 2022
and 31 January 2023 363,932 160,090 53,705
DEPRECIATION
At 1 February 2022 120,244 12,210 21,643
Charge for year 26,883 1,601 4,083
At 31 January 2023 147,127 13,811 25,726
NET BOOK VALUE
At 31 January 2023 216,805 146,279 27,979
At 31 January 2022 243,688 147,880 32,062

DESIGNER KIDS AND BABY LTD (REGISTERED NUMBER: SC378017)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023

6. TANGIBLE FIXED ASSETS - continued

Fixtures
Plant & and Computer
machinery fittings equipment
£    £    £   
COST
At 1 February 2022
and 31 January 2023 140,621 4,606 4,910
DEPRECIATION
At 1 February 2022 78,544 3,889 3,958
Charge for year 20,162 353 684
At 31 January 2023 98,706 4,242 4,642
NET BOOK VALUE
At 31 January 2023 41,915 364 268
At 31 January 2022 62,077 717 952

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant &
machinery
£   
COST
At 1 February 2022 32,995
Transfer to ownership (20,995 )
At 31 January 2023 12,000
DEPRECIATION
At 1 February 2022 28,195
Charge for year 2,400
Transfer to ownership (20,995 )
At 31 January 2023 9,600
NET BOOK VALUE
At 31 January 2023 2,400
At 31 January 2022 4,800

7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 1
At 31 January 2023 1
NET BOOK VALUE
At 31 January 2023 1

DESIGNER KIDS AND BABY LTD (REGISTERED NUMBER: SC378017)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023

8. DEBTORS
31.1.23 31.1.22
£    £   
Amounts falling due within one year:
Trade debtors 33,338 26,399
Directors' current accounts 50,295 52,287
Prepayments 1,551 570
85,184 79,256

Amounts falling due after more than one year:
Other debtors 83,356 42,800
S455 debtor 3,993 3,993
87,349 46,793

Aggregate amounts 172,533 126,049

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 9,975 9,669
Hire purchase contracts (see note 11) 2,172 6,370
Trade creditors 51,859 32,215
Taxation and social security 57,824 120,385
Other creditors 64,816 32,920
186,646 201,559

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans 21,584 34,025
Hire purchase contracts (see note 11) 1,810 2,932
23,394 36,957

11. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.1.23 31.1.22
£    £   
Net obligations repayable:
Within one year 2,172 6,370
Between one and five years 1,810 2,932
3,982 9,302

DESIGNER KIDS AND BABY LTD (REGISTERED NUMBER: SC378017)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023

12. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank loans 31,559 43,694
Hire purchase contracts 3,982 9,302
35,541 52,996

The Royal Bank Of Scotland PLC has a standard security over the property owned by the company and a Bond and Floating charge over all of the company's assets.

Hire purchase contracts are secured over the assets to which they relate.

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
700 Ordinary A £1 700 700
300 Ordinary B £1 300 300
1,000 1,000

14. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2023 and 31 January 2022:

31.1.23 31.1.22
£    £   
Miss J Baker
Balance outstanding at start of year 52,287 34,943
Amounts advanced - 17,344
Amounts repaid (1,992 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 50,295 52,287

Interest is charged on the loan at 2% and there is no fixed repayment term.

15. ULTIMATE CONTROLLING PARTY

Miss J Baker controls the company by virtue of her owning directly 100% of the issued share capital.