Registered number
10856214
Toddler Sense Stafford and Stone Limited
Filleted Accounts
31 July 2023
Toddler Sense Stafford and Stone Limited
Registered number: 10856214
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 2,022 723
Current assets
Debtors 5 2,500 -
Cash at bank and in hand 19,314 30,107
21,814 30,107
Creditors: amounts falling due within one year 6 (16,878) (24,189)
Net current assets 4,936 5,918
Total assets less current liabilities 6,958 6,641
Provisions for liabilities (384) (138)
Net assets 6,574 6,503
Capital and reserves
Called up share capital 1 1
Profit and loss account 6,573 6,502
Shareholder's funds 6,574 6,503
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Erica Scriven
Director
Approved by the board on 31.03.24
Toddler Sense Stafford and Stone Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
2 Covid 19
In the year to 31.07.21 the company continued to experience significantly reduced trading as a result of the pandemic. Trading activity was maintained using zoom sessions and classes when allowed. The company received a £2000 grant. The director considers the company to be a going concern with the continued support of the director.
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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment over 5 years
Motor Vehicles over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
4 Tangible fixed assets
Equipment Motor vehicles Total
£ £ £
Cost
At 1 August 2022 10,630 5,700 16,330
Additions 2,165 - 2,165
At 31 July 2023 12,795 5,700 18,495
Depreciation
At 1 August 2022 9,908 5,699 15,607
Charge for the year 866 - 866
At 31 July 2023 10,774 5,699 16,473
Net book value
At 31 July 2023 2,021 1 2,022
At 31 July 2022 722 1 723
5 Debtors 2023 2022
£ £
Other debtors 2,500 -
6 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 46 2,484
Other creditors 16,832 21,705
16,878 24,189
7 Other taxes and social security - -
8 Other financial commitments 2023 2022
£ £
Franchise agreement 5,620
Lease of premises 90,000
90,000 5,620
The 5 year lease on the premises comenced 1st September 2023.There is a break clause at 12months and 36months.
9 Controlling party
Mrs Erica Scriven is the controlling party.
10 Other information
Toddler Sense Stafford and Stone Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Locke Way
Kingston Hill
Stafford
ST16 3RE
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