IRIS Accounts Production v23.3.1.45 04198374 Board of Directors 1.3.22 28.2.23 28.2.23 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh041983742022-02-28041983742023-02-28041983742022-03-012023-02-28041983742021-02-28041983742021-03-012022-02-28041983742022-02-2804198374ns10:Originalns15:EnglandWales2022-03-012023-02-2804198374ns14:PoundSterlingns10:Original2022-03-012023-02-2804198374ns10:Originalns10:Director12022-03-012023-02-2804198374ns10:Original2022-03-012023-02-2804198374ns10:Original2023-02-2804198374ns10:Originalns10:PrivateLimitedCompanyLtd2022-03-012023-02-2804198374ns10:Originalns10:SmallEntities2022-03-012023-02-2804198374ns10:Originalns10:AuditExempt-NoAccountantsReport2022-03-012023-02-2804198374ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2804198374ns10:SmallCompaniesRegimeForAccountsns10:Original2022-03-012023-02-2804198374ns10:Originalns10:FullAccounts2022-03-012023-02-2804198374ns10:Original12022-03-012023-02-2804198374ns10:Originalns10:OrdinaryShareClass12022-03-012023-02-2804198374ns10:Originalns10:Director22022-03-012023-02-2804198374ns10:CompanySecretary1ns10:Original2022-03-012023-02-2804198374ns10:Originalns10:RegisteredOffice2022-03-012023-02-2804198374ns10:Original2022-02-2804198374ns10:Originalns5:CurrentFinancialInstruments2023-02-2804198374ns10:Originalns5:CurrentFinancialInstruments2022-02-2804198374ns10:Originalns5:Non-currentFinancialInstruments2023-02-2804198374ns10:Originalns5:Non-currentFinancialInstruments2022-02-2804198374ns5:ShareCapitalns10:Original2023-02-2804198374ns5:ShareCapitalns10:Original2022-02-2804198374ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-02-2804198374ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-2804198374ns10:Originalns5:NetGoodwill2022-03-012023-02-2804198374ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-03-012023-02-2804198374ns10:Originalns5:PatentsTrademarksLicencesConcessionsSimilar2022-03-012023-02-2804198374ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-03-012023-02-2804198374ns10:Originalns5:FurnitureFittings2022-03-012023-02-2804198374ns10:Originalns5:ComputerEquipment2022-03-012023-02-2804198374ns10:Original2021-03-012022-02-2804198374ns10:Originalns5:NetGoodwill2022-02-2804198374ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-02-2804198374ns10:Original2022-02-2804198374ns10:Originalns5:NetGoodwill2023-02-2804198374ns5:IntangibleAssetsOtherThanGoodwillns10:Original2023-02-2804198374ns10:Originalns5:NetGoodwill2022-02-2804198374ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-02-2804198374ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-02-2804198374ns10:Originalns5:FurnitureFittings2022-02-2804198374ns10:Originalns5:ComputerEquipment2022-02-2804198374ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2023-02-2804198374ns10:Originalns5:FurnitureFittings2023-02-2804198374ns10:Originalns5:ComputerEquipment2023-02-2804198374ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-02-2804198374ns10:Originalns5:FurnitureFittings2022-02-2804198374ns10:Originalns5:ComputerEquipment2022-02-2804198374ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2804198374ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-02-2804198374ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-02-2804198374ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-02-2804198374ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-02-2804198374ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-02-2804198374ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-02-2804198374ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-02-2804198374ns5:Securedns10:Original2023-02-2804198374ns5:Securedns10:Original2022-02-2804198374ns5:AcceleratedTaxDepreciationDeferredTaxns10:Original2023-02-2804198374ns5:AcceleratedTaxDepreciationDeferredTaxns10:Original2022-02-2804198374ns10:Originalns5:TaxLossesCarry-forwardsDeferredTax2023-02-2804198374ns10:Originalns5:TaxLossesCarry-forwardsDeferredTax2022-02-2804198374ns10:Originalns5:DeferredTaxation2022-02-2804198374ns10:Originalns5:DeferredTaxation2023-02-2804198374ns10:Originalns10:OrdinaryShareClass12023-02-2804198374ns10:Originalns10:Director222022-02-2804198374ns10:Originalns10:Director222021-02-2804198374ns10:Originalns10:Director222022-03-012023-02-2804198374ns10:Originalns10:Director222021-03-012022-02-2804198374ns10:Originalns10:Director222023-02-2804198374ns10:Originalns10:Director222022-02-28
REGISTERED NUMBER: 04198374 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2023

FOR

DIBS TOY COMPANY LIMITED

DIBS TOY COMPANY LIMITED (REGISTERED NUMBER: 04198374)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DIBS TOY COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2023







DIRECTORS: D I Brooks
R A Brooks



SECRETARY: R A Brooks



REGISTERED OFFICE: 25, Grosvenor Road
Wrexham
LL11 1BT



REGISTERED NUMBER: 04198374 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
Chartered Accountants
25, Grosvenor Road
Wrexham
LL11 1BT



BANKERS: Barclays Bank plc
51-52 Hope Street
Wrexham
LL11 1BB

DIBS TOY COMPANY LIMITED (REGISTERED NUMBER: 04198374)

BALANCE SHEET
28TH FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 24,680 30,368
Tangible assets 5 39,906 14,585
64,586 44,953

CURRENT ASSETS
Stocks 6 20,000 40,000
Debtors 7 94,378 48,424
Cash at bank 43 66
114,421 88,490
CREDITORS
Amounts falling due within one year 8 118,027 101,747
NET CURRENT LIABILITIES (3,606 ) (13,257 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

60,980

31,696

CREDITORS
Amounts falling due after more than one year 9 (53,078 ) (39,167 )

PROVISIONS FOR LIABILITIES 11 (7,582 ) (1,317 )
NET ASSETS/(LIABILITIES) 320 (8,788 )

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 220 (8,888 )
SHAREHOLDERS' FUNDS 320 (8,788 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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.

DIBS TOY COMPANY LIMITED (REGISTERED NUMBER: 04198374)

BALANCE SHEET - continued
28TH FEBRUARY 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th November 2023 and were signed on its behalf by:





D I Brooks - Director


DIBS TOY COMPANY LIMITED (REGISTERED NUMBER: 04198374)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023

1. STATUTORY INFORMATION

Dibs Toy Company 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
The financial statements have been prepared on a going concern basis on the assumption that the support of the providers of finance will be continued. If this support is withdrawn, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

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 2007, is being amortised evenly over its estimated useful life of twenty 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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Franchise fee
The amount paid in connection with the purchase of a franchise fee in 2015 is being amortised over the period of the agreement, being five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - The length of the lease
Fixtures and fittings - 10% on cost
Computer equipment - 33% on cost

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 Statement of Income and Retained Earnings, 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.


DIBS TOY COMPANY LIMITED (REGISTERED NUMBER: 04198374)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st March 2022
and 28th February 2023 113,750 15,000 128,750
AMORTISATION
At 1st March 2022 83,382 15,000 98,382
Charge for year 5,688 - 5,688
At 28th February 2023 89,070 15,000 104,070
NET BOOK VALUE
At 28th February 2023 24,680 - 24,680
At 28th February 2022 30,368 - 30,368

DIBS TOY COMPANY LIMITED (REGISTERED NUMBER: 04198374)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1st March 2022 20,026 51,151 22,000 93,177
Additions - 30,000 813 30,813
At 28th February 2023 20,026 81,151 22,813 123,990
DEPRECIATION
At 1st March 2022 20,026 36,676 21,890 78,592
Charge for year - 5,337 155 5,492
At 28th February 2023 20,026 42,013 22,045 84,084
NET BOOK VALUE
At 28th February 2023 - 39,138 768 39,906
At 28th February 2022 - 14,475 110 14,585

6. STOCKS
28.2.23 28.2.22
£    £   
Finished goods 20,000 40,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 30 141
Other debtors 1,500 1,500
Directors' current accounts 90,553 44,187
Tax recoverable 2,196 2,196
Prepayments 99 400
94,378 48,424

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 10,000 10,000
AF Blakemore development loan 6,000 -
Trade creditors 54,224 51,430
Tax 13,089 9,072
Social security and other taxes 5,093 3,520
VAT 6,433 1,213
Other creditors 18,981 15,121
Accrued expenses 4,207 11,391
118,027 101,747

DIBS TOY COMPANY LIMITED (REGISTERED NUMBER: 04198374)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 23,578 29,167
Other loans - 1-2 years 6,000 -
Other loans - 2-5 years 13,500 -
53,078 39,167

10. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank loans 43,578 49,167

11. PROVISIONS FOR LIABILITIES
28.2.23 28.2.22
£    £   
Deferred tax
Accelerated capital allowances 7,582 2,771
Tax losses carried forward - (1,454 )
7,582 1,317

Deferred
tax
£   
Balance at 1st March 2022 1,317
Movement in the year due to:-
Changes in tax allowances 4,811
Changes in tax rates
Movement in losses available 1,454
Balance at 28th February 2023 7,582

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100 Ordinary £1 100 100

13. CAPITAL COMMITMENTS
28.2.23 28.2.22
£    £   
Contracted but not provided for in the
financial statements - -

DIBS TOY COMPANY LIMITED (REGISTERED NUMBER: 04198374)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28th February 2023 and 28th February 2022:

28.2.23 28.2.22
£    £   
R A Brooks
Balance outstanding at start of year 44,187 59,557
Amounts advanced 90,553 17,684
Amounts repaid (44,187 ) (33,054 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 90,553 44,187

There were no advances during the year exceeding £1,500. Interest is charged on the overdrawn directors loan account at a rate of 2.% (2022: 2%). The interest charge for the year was £1,334 (2022: £1,027). No special conditions are attached.

R A Brooks, a director of the company has secured the company's bank loan and overdraft up to the amount of £75,000.