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REGISTERED NUMBER: 05451932 (England and Wales)









Unaudited Financial Statements

for the Period

1 September 2023 to 31 March 2024

for

Children's Corner (Farsley) Limited

Children's Corner (Farsley) Limited (Registered number: 05451932)






Contents of the Financial Statements
for the Period 1 September 2023 to 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Children's Corner (Farsley) Limited (Registered number: 05451932)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 170,390 185,478

CURRENT ASSETS
Stocks 1,160 1,105
Debtors 5 276,935 248,131
Cash at bank and in hand 55,651 63,244
333,746 312,480
CREDITORS
Amounts falling due within one year 6 114,187 116,868
NET CURRENT ASSETS 219,559 195,612
TOTAL ASSETS LESS CURRENT
LIABILITIES

389,949

381,090

CREDITORS
Amounts falling due after more than one
year

7

(41,781

)

(53,194

)

PROVISIONS FOR LIABILITIES (16,348 ) (17,480 )
NET ASSETS 331,820 310,416

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 331,720 310,316
SHAREHOLDERS' FUNDS 331,820 310,416

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 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.

Children's Corner (Farsley) Limited (Registered number: 05451932)

Balance Sheet - continued
31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2024 and were signed on its behalf by:





L A Dawson - Director


Children's Corner (Farsley) Limited (Registered number: 05451932)

Notes to the Financial Statements
for the Period 1 September 2023 to 31 March 2024

1. STATUTORY INFORMATION

Children's Corner (Farsley) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05451932

Registered office: 28 Broomfield
Adel
Leeds
West Yorkshire
LS16 6AF

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 UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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 and value added tax.

Turnover from the supply of services represents the value of services provided to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Tangible fixed assets
Tangible fixed assets are stated at purchase cost, net of depreciation.

Depreciation is provided on all tangible assets at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Buildings- 4% on cost
Computer equipment - 25% on cost
Fixtures and fittings- 15% on reducing balance
Motor Vehicles- 25% on reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Stocks
Stock and work in progress are valued at the lower of cost and new realisable value, after due regard for obsolete and slow moving stocks.


Children's Corner (Farsley) Limited (Registered number: 05451932)

Notes to the Financial Statements - continued
for the Period 1 September 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Hire purchase and leasing commitments
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

Where material, the cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an Annual General Meeting.

Children's Corner (Farsley) Limited (Registered number: 05451932)

Notes to the Financial Statements - continued
for the Period 1 September 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - other debtors, cash and bank balances, trade creditors, other creditors, bank loans and inter-company balances.

Other debtors, cash and bank balances, trade creditors, other creditors and inter-company balances are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest and subsequently measured at amortised cost using the effective interest method.

Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets
An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had the impairment loss not been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 28 (2023 - 25 ) .

Children's Corner (Farsley) Limited (Registered number: 05451932)

Notes to the Financial Statements - continued
for the Period 1 September 2023 to 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2023 251,637 155,108 406,745
Additions - 400 400
At 31 March 2024 251,637 155,508 407,145
DEPRECIATION
At 1 September 2023 142,493 78,774 221,267
Charge for period 5,872 9,616 15,488
At 31 March 2024 148,365 88,390 236,755
NET BOOK VALUE
At 31 March 2024 103,272 67,118 170,390
At 31 August 2023 109,144 76,334 185,478

The net book value of tangible fixed assets includes £ 38,738 (2023 - £ 45,352 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 276,935 248,131

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,145 29,820
Hire purchase contracts 10,166 10,166
Trade creditors - 996
Taxation and social security 50,775 37,916
Other creditors 44,101 37,970
114,187 116,868

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 30,767 36,250
Hire purchase contracts 11,014 16,944
41,781 53,194

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years by
instalments

6,947

16,250

Children's Corner (Farsley) Limited (Registered number: 05451932)

Notes to the Financial Statements - continued
for the Period 1 September 2023 to 31 March 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 21,180 27,110

Hire purchase contracts are secured against the assets to which they relate.

9. CALLED UP SHARE CAPITAL

2024 2023
£ £
Allotted, issued and fully paid 100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 March 2024 and the year ended 31 August 2023:

2024 2023
£    £   
L A Dawson and A Dawson
Balance outstanding at start of period 9,097 -
Amounts advanced 25,613 19,937
Amounts repaid - (10,840 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 34,710 9,097

The directors' loan was repaid in full within 9 months of the end of the financial year.