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REGISTERED NUMBER: 03616885 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Cartoonstock Limited

Cartoonstock Limited (Registered number: 03616885)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Cartoonstock Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: Mr L Benenson
Mr R Mankoff
Mr J Mishon





REGISTERED OFFICE: Unit 2, 3 Edgar Buildings
Bath
BA1 2FJ





REGISTERED NUMBER: 03616885 (England and Wales)





ACCOUNTANTS: Norton Tax Shops Limited
3 & 5 Station Road
Keynsham
Bristol
BS31 2BH

Cartoonstock Limited (Registered number: 03616885)

Abridged Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 80,944 95,228
Tangible assets 5 403 537
81,347 95,765

CURRENT ASSETS
Debtors 165,464 141,402
Cash at bank 141,150 128,392
306,614 269,794
CREDITORS
Amounts falling due within one year 135,992 91,020
NET CURRENT ASSETS 170,622 178,774
TOTAL ASSETS LESS CURRENT
LIABILITIES

251,969

274,539

CREDITORS
Amounts falling due after more than one
year

(498,739

)

(435,112

)

PROVISIONS FOR LIABILITIES 6 (101 ) -
NET LIABILITIES (246,871 ) (160,573 )

CAPITAL AND RESERVES
Called up share capital 7 1,239 1,239
Share premium 72,816 72,816
Retained earnings (320,926 ) (234,628 )
SHAREHOLDERS' FUNDS (246,871 ) (160,573 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

Cartoonstock Limited (Registered number: 03616885)

Abridged Balance Sheet - continued
31 August 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





Mr J Mishon - Director


Cartoonstock Limited (Registered number: 03616885)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Cartoonstock 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Development costs are being amortised over their useful life at 15% on reducing balance.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 9 ) .

Cartoonstock Limited (Registered number: 03616885)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022
and 31 August 2023 330,163
AMORTISATION
At 1 September 2022 234,935
Amortisation for year 14,284
At 31 August 2023 249,219
NET BOOK VALUE

At 31 August 2023 80,944
At 31 August 2022 95,228

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022
and 31 August 2023 1,697
DEPRECIATION
At 1 September 2022 1,160
Charge for year 134
At 31 August 2023 1,294
NET BOOK VALUE
At 31 August 2023 403
At 31 August 2022 537

6. PROVISIONS FOR LIABILITIES
31.8.23 31.8.22
£    £   
Deferred tax 101 -

Deferred
tax
£   
Charge to Income Statement during year 101
Balance at 31 August 2023 101

Cartoonstock Limited (Registered number: 03616885)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
1,239 Ordinary £1 1,239 1,239

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

31.8.23 31.8.22
£    £   
Mr J Mishon
Balance outstanding at start of year (17 ) (17 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (17 ) (17 )

9. RELATED PARTY DISCLOSURES

At the year end the company had long term liabilities of £498,739 (2022: £435,112) which is owed to it's ultimate controlling party Cartoon Collections LLC.

Cartoon Collections LLC have committed to continue to support the company whilst it continues to grow and therefore will not demand repayment of it's loan without at least 12 months prior notice.

A debenture dated 25 July 2018 is held in favour of Mr E Beardwell, Mr J Mishon and Mr C Dale. The charge contains fixed and floating charges. The floating charge covers all the property or undertaking of the company.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Cartoon Collection LLC.

The company is a wholly owned subsidiary of Cartoon Collections LLC.