Caseware UK (AP4) 2023.0.135 2023.0.135 2023-02-282023-02-28falsetrueRetail sale of games & toys in specialised stores2022-03-01true11The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07937162 2022-03-01 2023-02-28 07937162 2021-03-01 2022-02-28 07937162 2023-02-28 07937162 2022-02-28 07937162 c:Director1 2022-03-01 2023-02-28 07937162 d:CurrentFinancialInstruments 2023-02-28 07937162 d:CurrentFinancialInstruments 2022-02-28 07937162 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 07937162 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 07937162 d:ShareCapital 2023-02-28 07937162 d:ShareCapital 2022-02-28 07937162 d:RetainedEarningsAccumulatedLosses 2023-02-28 07937162 d:RetainedEarningsAccumulatedLosses 2022-02-28 07937162 c:OrdinaryShareClass1 2022-03-01 2023-02-28 07937162 c:OrdinaryShareClass1 2023-02-28 07937162 c:OrdinaryShareClass1 2022-02-28 07937162 c:FRS102 2022-03-01 2023-02-28 07937162 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 07937162 c:FullAccounts 2022-03-01 2023-02-28 07937162 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 07937162 2 2022-03-01 2023-02-28 07937162 e:PoundSterling 2022-03-01 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07937162









THE BALLOON WEIGHT COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
THE BALLOON WEIGHT COMPANY LIMITED
REGISTERED NUMBER: 07937162

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
3,701
3,729

Debtors: amounts falling due within one year
 4 
21
8

  
3,722
3,737

Creditors: amounts falling due within one year
 5 
(10,424)
(8,504)

Net current liabilities
  
 
 
(6,702)
 
 
(4,767)

Total assets less current liabilities
  
(6,702)
(4,767)

  

Net liabilities
  
(6,702)
(4,767)


Capital and reserves
  

Called up share capital 
 6 
3
3

Profit and loss account
  
(6,705)
(4,770)

  
(6,702)
(4,767)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 February 2024.




Jeevan Mahey
Director

The notes on pages 3 to 5 form part of these financial statements.
Page 1

 
THE BALLOON WEIGHT COMPANY LIMITED
REGISTERED NUMBER: 07937162
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2023


Page 2

 
THE BALLOON WEIGHT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

The company is registered in England and Wales. The comany's registered office is 34 Wellington Road, Bilston, West Midlands, WV14 6AG. The principal activity of the company is that of retail sale of games and toys in specialised stores. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 3

 
THE BALLOON WEIGHT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
THE BALLOON WEIGHT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Debtors

2023
2022
£
£


Trade debtors
21
8

21
8



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
3
-

Trade creditors
1,340
1,002

Other creditors
8,361
6,782

Accruals and deferred income
720
720

10,424
8,504



6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



3 (2022 - 3) Ordinary shares of £1.00 each
3
3



7.


Controlling party

The controlling interest in the company is held by the director Jeevan Mahey. 

 
Page 5