AB Shoes Limited 05854528 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is Retail of children footware. Digita Accounts Production Advanced 6.30.9574.0 true 05854528 2023-02-01 2024-01-31 05854528 2024-01-31 05854528 bus:OrdinaryShareClass1 2024-01-31 05854528 core:CurrentFinancialInstruments 2024-01-31 05854528 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 05854528 core:Non-currentFinancialInstruments 2024-01-31 05854528 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 05854528 core:OtherPropertyPlantEquipment 2024-01-31 05854528 bus:SmallEntities 2023-02-01 2024-01-31 05854528 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 05854528 bus:FullAccounts 2023-02-01 2024-01-31 05854528 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 05854528 bus:RegisteredOffice 2023-02-01 2024-01-31 05854528 bus:Director1 2023-02-01 2024-01-31 05854528 bus:Director2 2023-02-01 2024-01-31 05854528 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 05854528 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05854528 core:FurnitureFittings 2023-02-01 2024-01-31 05854528 countries:EnglandWales 2023-02-01 2024-01-31 05854528 2023-01-31 05854528 core:OtherPropertyPlantEquipment 2023-01-31 05854528 2022-02-01 2023-01-31 05854528 2023-01-31 05854528 bus:OrdinaryShareClass1 2023-01-31 05854528 core:CurrentFinancialInstruments 2023-01-31 05854528 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 05854528 core:Non-currentFinancialInstruments 2023-01-31 05854528 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 05854528 core:OtherPropertyPlantEquipment 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05854528

AB Shoes Limited

trading as Shooz 4 Kidz

Annual Report and Financial Statements

for the Year Ended 31 January 2024

 

AB Shoes Limited
trading as Shooz 4 Kidz

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

AB Shoes Limited
trading as Shooz 4 Kidz

Company Information



 

Directors

Mr Anthony John Hughes

Miss Beverley Jane Deley

Registered office

50-52 Green Lane
Derby
DE1 1RP

Accountants

The TAX Partnership
2 Cheapside
Derby
Derbyshire
DE1 1BR

 

AB Shoes Limited
trading as Shooz 4 Kidz

(Registration number: 05854528)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3

3

Current assets

 

Stocks

5

73,316

69,757

Debtors

6

1,158

1,437

Cash at bank and in hand

 

50

190

 

74,524

71,384

Creditors: Amounts falling due within one year

7

(37,682)

(27,637)

Net current assets

 

36,842

43,747

Total assets less current liabilities

 

36,845

43,750

Creditors: Amounts falling due after more than one year

7

(12,338)

(14,480)

Net assets

 

24,507

29,270

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

24,505

29,268

Shareholders' funds

 

24,507

29,270

 

AB Shoes Limited
trading as Shooz 4 Kidz

(Registration number: 05854528)
Balance Sheet as at 31 January 2024

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 August 2024 and signed on its behalf by:
 

.........................................
Mr Anthony John Hughes
Director

.........................................
Miss Beverley Jane Deley
Director

 
     
 

AB Shoes Limited
trading as Shooz 4 Kidz

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
50-52 Green Lane
Derby
DE1 1RP
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported values for assets, liabilities, sales and expenses.

There are no judgements, estimates or assumptions which could have a significant effect on the amounts included in the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

AB Shoes Limited
trading as Shooz 4 Kidz

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and equipment

20% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. Allownaces are made for obsolete and slow moving items.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

AB Shoes Limited
trading as Shooz 4 Kidz

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

1,354

1,354

At 31 January 2024

1,354

1,354

Depreciation

At 1 February 2023

1,351

1,351

At 31 January 2024

1,351

1,351

Carrying amount

At 31 January 2024

3

3

At 31 January 2023

3

3

5

Stocks

2024
£

2023
£

Merchandise

73,316

69,757

6

Debtors

Current

2024
£

2023
£

Prepayments

730

774

Other debtors

428

663

1,158

1,437

 

AB Shoes Limited
trading as Shooz 4 Kidz

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

19,808

12,145

Trade creditors

 

4,531

1,973

Taxation and social security

 

12

20

Accruals and deferred income

 

1,142

-

Other creditors

 

12,189

13,499

 

37,682

27,637

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

12,338

14,480

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         
 

AB Shoes Limited
trading as Shooz 4 Kidz

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

12,338

14,480

2024
£

2023
£

Current loans and borrowings

Bank borrowings

2,159

2,110

Bank overdrafts

17,649

10,035

19,808

12,145