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Registered number: 09410721
Ziggle Baby Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
RJF Accountants
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09410721
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 57,448 81,708
57,448 81,708
CURRENT ASSETS
Stocks 5 276,894 210,528
Debtors 6 59,073 30,096
Cash at bank and in hand 3,094 155
339,061 240,779
Creditors: Amounts Falling Due Within One Year 7 (159,717 ) (131,014 )
NET CURRENT ASSETS (LIABILITIES) 179,344 109,765
TOTAL ASSETS LESS CURRENT LIABILITIES 236,792 191,473
Creditors: Amounts Falling Due After More Than One Year 8 (98,867 ) (106,752 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (22,263 ) (22,263 )
NET ASSETS 115,662 62,458
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 115,562 62,358
SHAREHOLDERS' FUNDS 115,662 62,458
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jonathan Graham
Director
Mrs Nicole Graham
Director
10/04/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ziggle Baby Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09410721 . The registered office is Orchard House, 7a, Moor Lane, Wilmslow, Cheshire, SK9 6AG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Straight Line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. 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 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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 in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 5)
3 5
4. Tangible Assets
Investment Properties Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 February 2023 76,849 45,983 4,054 126,886
Additions - - 125 125
As at 31 January 2024 76,849 45,983 4,179 127,011
Depreciation
As at 1 February 2023 30,657 11,441 3,080 45,178
Provided during the period 15,291 8,635 459 24,385
As at 31 January 2024 45,948 20,076 3,539 69,563
Net Book Value
As at 31 January 2024 30,901 25,907 640 57,448
As at 1 February 2023 46,192 34,542 974 81,708
5. Stocks
2024 2023
£ £
Stock 156,767 195,660
Stock in transit 45,668 14,868
Work in progress 74,459 -
276,894 210,528
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 41,540 28,369
Prepayments and accrued income 204 554
Other debtors 4,070 1,173
VAT 13,259 -
59,073 30,096
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 47,818 52,321
Bank loans and overdrafts 11,218 24,889
Corporation tax 22,191 10,444
Other taxes and social security 404 238
VAT - 3,599
Net wages 155 63
Other creditors - (12,473 )
Other creditors (1) - 12,473
Accruals and deferred income 8,812 180
Directors' loan accounts 69,119 39,280
159,717 131,014
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 41,811 49,696
Loan from Cordelia Graham 44,583 44,583
Loan from John Davidson 12,473 12,473
98,867 106,752
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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