Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-312022-08-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07697636 2022-08-01 2023-07-31 07697636 2021-08-01 2022-07-31 07697636 2023-07-31 07697636 2022-07-31 07697636 c:Director1 2022-08-01 2023-07-31 07697636 d:PlantMachinery 2022-08-01 2023-07-31 07697636 d:PlantMachinery 2023-07-31 07697636 d:PlantMachinery 2022-07-31 07697636 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 07697636 d:OfficeEquipment 2022-08-01 2023-07-31 07697636 d:OfficeEquipment 2023-07-31 07697636 d:OfficeEquipment 2022-07-31 07697636 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 07697636 d:ComputerEquipment 2022-08-01 2023-07-31 07697636 d:ComputerEquipment 2023-07-31 07697636 d:ComputerEquipment 2022-07-31 07697636 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 07697636 d:OtherPropertyPlantEquipment 2022-08-01 2023-07-31 07697636 d:OtherPropertyPlantEquipment 2023-07-31 07697636 d:OtherPropertyPlantEquipment 2022-07-31 07697636 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 07697636 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 07697636 d:CurrentFinancialInstruments 2023-07-31 07697636 d:CurrentFinancialInstruments 2022-07-31 07697636 d:Non-currentFinancialInstruments 2023-07-31 07697636 d:Non-currentFinancialInstruments 2022-07-31 07697636 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 07697636 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 07697636 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 07697636 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 07697636 d:ShareCapital 2023-07-31 07697636 d:ShareCapital 2022-07-31 07697636 d:RetainedEarningsAccumulatedLosses 2023-07-31 07697636 d:RetainedEarningsAccumulatedLosses 2022-07-31 07697636 c:OrdinaryShareClass1 2022-08-01 2023-07-31 07697636 c:OrdinaryShareClass1 2023-07-31 07697636 c:OrdinaryShareClass1 2022-07-31 07697636 c:FRS102 2022-08-01 2023-07-31 07697636 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 07697636 c:FullAccounts 2022-08-01 2023-07-31 07697636 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 07697636 e:PoundSterling 2022-08-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07697636













EXTREME TOYS LIMITED
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023


 
EXTREME TOYS LIMITED
REGISTERED NUMBER:07697636


BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,596
13,693

  
4,596
13,693

Current assets
  

Stocks
  
15,712
20,878

Debtors: amounts falling due within one year
 5 
141,097
77,671

Cash at bank and in hand
  
258,149
538,088

  
414,958
636,637

Creditors: amounts falling due within one year
 6 
(23,936)
(30,730)

Net current assets
  
 
 
391,022
 
 
605,907

Total assets less current liabilities
  
395,618
619,600

Creditors: amounts falling due after more than one year
 7 
(27,442)
(37,271)

  

Net assets
  
368,176
582,329


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
368,076
582,229

  
368,176
582,329


Page 1


 
EXTREME TOYS LIMITED
REGISTERED NUMBER:07697636

    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The directors consider 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 directors acknowledge their 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 comprehensive income 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 by: 




V Kerswell
Director

Date: 30 July 2024

Page 2


 
EXTREME TOYS LIMITED
 

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

1.


General information

Extreme Toys Limited (company number 07697636) is a private company limited by shares and incorporated in England. Its registered office is 12 Deer Park Road, South Wimbledon, London, SW19 3FB.  
The financial statements are presented in GBP, which is the functional currency of the company.   

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

During the year ended 31 July 2023 the Company suffered a loss before tax of £284,115 (2022: £79,755). 
The net assets are positive (£368,076) and the directors are comfortable that the company will remain in existence for the foreseeable future and the going concern basis is applicable for the preparation of the financial statements. 

 
2.3

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.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3


 
EXTREME TOYS LIMITED
 

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

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25% on reducing balance
Office equipment
-
25% on reducing balance
Computer equipment
-
25% on reducing balance
Technical equipment
-
25% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
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 balance sheet 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.

Stocks 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. 

 
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

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

 
2.8

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.

Page 4


 
EXTREME TOYS LIMITED
 

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

2.Accounting policies (continued)

 
2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2). 




Page 5


 
EXTREME TOYS LIMITED
 

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

4.


Tangible fixed assets





Plant and machinery
Office equipment
Computer equipment
Technical equipment
Total

£
£
£
£
£



Cost or valuation


At 1 August 2022
40,833
30,730
12,738
23,570
107,871



At 31 July 2023

40,833
30,730
12,738
23,570
107,871



Depreciation


At 1 August 2022
28,583
30,636
11,389
23,570
94,178


Charge for the year on owned assets
8,167
62
868
-
9,097



At 31 July 2023

36,750
30,698
12,257
23,570
103,275



Net book value



At 31 July 2023
4,083
32
481
-
4,596



At 31 July 2022
12,250
94
1,349
-
13,693


5.


Debtors

2023
2022
£
£


Trade debtors
13,800
-

Other debtors
127,297
77,671

141,097
77,671


Page 6


 
EXTREME TOYS LIMITED
 

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

6.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
30

Bank loans
10,637
9,586

Trade creditors
3,329
13,164

Other taxation and social security
1,520
-

Accruals and deferred income
8,450
7,950

23,936
30,730



7.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Bank loan
27,442
37,271



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



9.


Controlling party

The controlling party is V Kerswell by virtue of his majority shareholding in the company.

 
Page 7