IRIS Accounts Production v24.2.0.383 SC049931 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC0499312023-01-31SC0499312024-01-31SC0499312023-02-012024-01-31SC0499312022-01-31SC0499312022-02-012023-01-31SC0499312023-01-31SC049931ns15:Scotland2023-02-012024-01-31SC049931ns14:PoundSterling2023-02-012024-01-31SC049931ns10:Director12023-02-012024-01-31SC049931ns10:PrivateLimitedCompanyLtd2023-02-012024-01-31SC049931ns10:SmallEntities2023-02-012024-01-31SC049931ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-31SC049931ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-31SC049931ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-31SC049931ns10:FullAccounts2023-02-012024-01-31SC04993112023-02-012024-01-31SC049931ns10:Director22023-02-012024-01-31SC049931ns10:CompanySecretary12023-02-012024-01-31SC049931ns10:RegisteredOffice2023-02-012024-01-31SC049931ns5:CurrentFinancialInstruments2024-01-31SC049931ns5:CurrentFinancialInstruments2023-01-31SC049931ns5:ShareCapital2024-01-31SC049931ns5:ShareCapital2023-01-31SC049931ns5:RetainedEarningsAccumulatedLosses2024-01-31SC049931ns5:RetainedEarningsAccumulatedLosses2023-01-31SC049931ns5:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-31SC049931ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-02-012024-01-31SC049931ns5:FurnitureFittings2023-02-012024-01-31SC049931ns5:ComputerSoftware2023-01-31SC049931ns5:ComputerSoftware2023-02-012024-01-31SC049931ns5:ComputerSoftware2024-01-31SC049931ns5:ComputerSoftware2023-01-31SC049931ns5:LandBuildings2023-01-31SC049931ns5:FurnitureFittings2023-01-31SC049931ns5:LandBuildings2023-02-012024-01-31SC049931ns5:LandBuildings2024-01-31SC049931ns5:FurnitureFittings2024-01-31SC049931ns5:LandBuildings2023-01-31SC049931ns5:FurnitureFittings2023-01-31SC049931ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-31SC049931ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-31SC049931ns5:DeferredTaxation2023-01-31SC049931ns5:DeferredTaxation2023-02-012024-01-31SC049931ns5:DeferredTaxation2024-01-31
REGISTERED NUMBER: SC049931 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

WONDERLAND (TOYS) LIMITED

WONDERLAND (TOYS) LIMITED (REGISTERED NUMBER: SC049931)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WONDERLAND (TOYS) LIMITED

COMPANY INFORMATION
for the year ended 31 January 2024







DIRECTORS: M Barton
I A L Reid





SECRETARY: I A L Reid





REGISTERED OFFICE: 97 Lothian Road
Edinburgh
EH3 9AN





REGISTERED NUMBER: SC049931 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

WONDERLAND (TOYS) LIMITED (REGISTERED NUMBER: SC049931)

BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 38,973 72,523
Tangible assets 5 685,359 688,773
724,332 761,296

CURRENT ASSETS
Stocks 220,414 198,900
Debtors 6 18,575 18,249
Investments 7 4,000 4,000
Cash at bank and in hand 273,617 290,668
516,606 511,817
CREDITORS
Amounts falling due within one year 8 592,274 352,738
NET CURRENT (LIABILITIES)/ASSETS (75,668 ) 159,079
TOTAL ASSETS LESS CURRENT
LIABILITIES

648,664

920,375

PROVISIONS FOR LIABILITIES 9 8,240 15,263
NET ASSETS 640,424 905,112

CAPITAL AND RESERVES
Called up share capital 6,000 6,000
Retained earnings 634,424 899,112
SHAREHOLDERS' FUNDS 640,424 905,112

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

WONDERLAND (TOYS) LIMITED (REGISTERED NUMBER: SC049931)

BALANCE SHEET - continued
31 January 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





I A L Reid - Director


WONDERLAND (TOYS) LIMITED (REGISTERED NUMBER: SC049931)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2024

1. STATUTORY INFORMATION

Wonderland (Toys) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

At the period end the company had net current liabilities of £75,668 (2023 - net assets of £159,079). The company continues to be supported by related parties who provide funding for operations. The operational funding support is expected to continue for a period of at least one year after the date of signing the financial statements.

TURNOVER
Turnover represents the online and retail sale of models and toys during the year, excluding value added tax.

INTANGIBLE ASSETS
Other intangible assets acquired are stated at cost less accumulated amortisation and impairment losses. Subsequent expenditure on capitalised intangible assets is capitalised only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure is expensed as incurred.

Amortisation is charged on a straight-line basis over the estimated useful lives of intangible assets. Other intangible assets are amortised from the date they are available for use. The estimated useful lives are as follows:

Other intangible assets costs over estimated lifespan, currently 3 years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Heritable property - Nil
Fixtures, fittings and equipment - 20% per annum on cost

The carrying values of tangible fixed assets are reviewed for impairment on an annual basis.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after deducting a 10% allowance for obsolete and slow moving items.

WONDERLAND (TOYS) LIMITED (REGISTERED NUMBER: SC049931)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

INVESTMENTS
Investments are held at cost value less any provision for impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 16 ) .

WONDERLAND (TOYS) LIMITED (REGISTERED NUMBER: SC049931)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Website
£   
COST
At 1 February 2023
and 31 January 2024 100,650
AMORTISATION
At 1 February 2023 28,127
Amortisation for year 33,550
At 31 January 2024 61,677
NET BOOK VALUE
At 31 January 2024 38,973
At 31 January 2023 72,523

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Heritable and
property equipment Totals
£    £    £   
COST
At 1 February 2023 680,964 104,836 785,800
Disposals - (12,518 ) (12,518 )
At 31 January 2024 680,964 92,318 773,282
DEPRECIATION
At 1 February 2023 - 97,027 97,027
Charge for year - 2,252 2,252
Eliminated on disposal - (11,356 ) (11,356 )
At 31 January 2024 - 87,923 87,923
NET BOOK VALUE
At 31 January 2024 680,964 4,395 685,359
At 31 January 2023 680,964 7,809 688,773

Tangible fixed assets with a carrying value of £685,359 (2023 - £688,773) are pledged as security for the company's debt.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 18,575 18,249

WONDERLAND (TOYS) LIMITED (REGISTERED NUMBER: SC049931)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Unlisted investments 4,000 4,000

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 51,565 24,914
Taxation and social security 83,443 89,921
Other creditors 457,266 237,903
592,274 352,738

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 8,240 15,263

Deferred
tax
£   
Balance at 1 February 2023 15,263
Provided during year (7,023 )
Balance at 31 January 2024 8,240

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.