IRIS Accounts Production v24.1.0.578 10275568 director 1.8.22 31.7.23 31.7.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh102755682022-07-31102755682023-07-31102755682022-08-012023-07-31102755682021-07-31102755682021-08-012022-07-31102755682022-07-3110275568ns15:EnglandWales2022-08-012023-07-3110275568ns14:PoundSterling2022-08-012023-07-3110275568ns10:Director12022-08-012023-07-3110275568ns10:PrivateLimitedCompanyLtd2022-08-012023-07-3110275568ns10:SmallEntities2022-08-012023-07-3110275568ns10:AuditExemptWithAccountantsReport2022-08-012023-07-3110275568ns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3110275568ns10:SmallCompaniesRegimeForAccounts2022-08-012023-07-3110275568ns10:FullAccounts2022-08-012023-07-3110275568ns10:RegisteredOffice2022-08-012023-07-3110275568ns5:CurrentFinancialInstruments2023-07-3110275568ns5:CurrentFinancialInstruments2022-07-3110275568ns5:Non-currentFinancialInstruments2023-07-3110275568ns5:Non-currentFinancialInstruments2022-07-3110275568ns5:ShareCapital2023-07-3110275568ns5:ShareCapital2022-07-3110275568ns5:RetainedEarningsAccumulatedLosses2023-07-3110275568ns5:RetainedEarningsAccumulatedLosses2022-07-3110275568ns5:PlantMachinery2022-08-012023-07-3110275568ns5:PlantMachinery2022-07-3110275568ns5:PlantMachinery2023-07-3110275568ns5:PlantMachinery2022-07-3110275568ns5:WithinOneYear2023-07-3110275568ns5:WithinOneYear2022-07-31
REGISTERED NUMBER: 10275568 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

ONLY CHILD STORE LIMITED

ONLY CHILD STORE LIMITED (REGISTERED NUMBER: 10275568)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

ONLY CHILD STORE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: Miss K Jackson





REGISTERED OFFICE: 76 Prince George Road
London
N16 8BY





REGISTERED NUMBER: 10275568 (England and Wales)





ACCOUNTANTS: Cox Costello & Horne Partners LLP
Chartered Accountants and Chartered Tax Advisers
Batchworth Lock House
99 Church Street
Rickmansworth
WD3 1JJ

ONLY CHILD STORE LIMITED (REGISTERED NUMBER: 10275568)

BALANCE SHEET
31 JULY 2023

31.7.23 31.7.22
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 4,504 5,754

CURRENT ASSETS
Stocks 5,000 2,500
Cash at bank 3,934 15,553
8,934 18,053
CREDITORS
Amounts falling due within one year 5 93,182 65,592
NET CURRENT LIABILITIES (84,248 ) (47,539 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(79,744

)

(41,785

)

CREDITORS
Amounts falling due after more than one
year

6

-

25,000
NET LIABILITIES (79,744 ) (66,785 )

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings (84,744 ) (71,785 )
SHAREHOLDERS' FUNDS (79,744 ) (66,785 )

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

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

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 director and authorised for issue on 15 April 2024 and were signed by:





Miss K Jackson - Director


ONLY CHILD STORE LIMITED (REGISTERED NUMBER: 10275568)

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


1. STATUTORY INFORMATION

Only Child Store 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.

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.

Going concern basis
The company meets its day-to-day working capital requirements through its bank facility and support from the shareholders. After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future; taken to be 12 months from signing the financial statements. No material uncertainties that cast significant doubt about the ability of the company to continue as a going concern have been identified by the director. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

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 etc - 20% on cost

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.

Financial instruments
a) Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

b) Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash
Cash is represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.


ONLY CHILD STORE LIMITED (REGISTERED NUMBER: 10275568)

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


2. ACCOUNTING POLICIES - continued
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.

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 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 August 2022 6,654
Additions 1,592
At 31 July 2023 8,246
DEPRECIATION
At 1 August 2022 900
Charge for year 2,842
At 31 July 2023 3,742
NET BOOK VALUE
At 31 July 2023 4,504
At 31 July 2022 5,754

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£ £
Bank loans and overdrafts - 56
Other creditors 93,182 65,536
93,182 65,592

ONLY CHILD STORE LIMITED (REGISTERED NUMBER: 10275568)

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


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.23 31.7.22
£ £
Other creditors - 25,000

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.7.23 31.7.22
£ £
Within one year - 3,685

8. RELATED PARTY DISCLOSURES

At the reporting date, the company owed the director £91,304 (2022: £90,592). Amounts due to the directors are unsecured, attracts no interest, have no fixed terms of repayment and considered payable on demand.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ONLY CHILD STORE LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Only Child Store Limited for the year ended 31 July 2023 which comprise the Profit and loss account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Only Child Store Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Only Child Store Limited and state those matters that we have agreed to state to the director of Only Child Store Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Only Child Store Limited and its director for our work or for this report.

It is your duty to ensure that Only Child Store Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Only Child Store Limited. You consider that Only Child Store Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Only Child Store Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cox Costello & Horne Partners LLP
Chartered Accountants and Chartered Tax Advisers
Batchworth Lock House
99 Church Street
Rickmansworth
WD3 1JJ


15 April 2024