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REGISTERED NUMBER: 04877480 (England and Wales)









Unaudited Financial Statements

for the Period

1 September 2023 to 31 March 2024

for

Childrens Corner (Headingley) Limited

Childrens Corner (Headingley) Limited (Registered number: 04877480)






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


Childrens Corner (Headingley) Limited (Registered number: 04877480)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 143,345 160,663
143,345 160,663

CURRENT ASSETS
Stocks 580 550
Debtors 6 166,136 162,403
Cash at bank and in hand 36,548 32,819
203,264 195,772
CREDITORS
Amounts falling due within one year 7 189,636 193,795
NET CURRENT ASSETS 13,628 1,977
TOTAL ASSETS LESS CURRENT
LIABILITIES

156,973

162,640

CREDITORS
Amounts falling due after more than one
year

8

(38,432

)

(45,314

)

PROVISIONS FOR LIABILITIES (15,665 ) (17,541 )
NET ASSETS 102,876 99,785

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 102,776 99,685
SHAREHOLDERS' FUNDS 102,876 99,785

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.

Childrens Corner (Headingley) Limited (Registered number: 04877480)

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


Childrens Corner (Headingley) Limited (Registered number: 04877480)

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

1. STATUTORY INFORMATION

Childrens Corner (Headingley) 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: 04877480

Registered office: Unit 8b Red Mill Lane
Sunnybank Mills
Farsley
LS28 5UJ

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.

Intangible fixed assets - goodwill
Goodwill arising on the acquisition of the business, representing the excess of fair value of the consideration given over the fair value of the identifiable assets and liabilities acquired, was capitalised and written off on a straight line basis over its economic life, which was 10 years.

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:

Short leasehold- 10% on cost
Computer equipment- 25% on cost
Fixtures and fittings- 15% on reducing balance
Improvements to property- 10% on cost
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.


Childrens Corner (Headingley) Limited (Registered number: 04877480)

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.

Childrens Corner (Headingley) Limited (Registered number: 04877480)

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 16 (2023 - 13 ) .

Childrens Corner (Headingley) Limited (Registered number: 04877480)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 March 2024 75,000
AMORTISATION
At 1 September 2023
and 31 March 2024 75,000
NET BOOK VALUE
At 31 March 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2023 16,851 295,242 312,093
Additions - 435 435
At 31 March 2024 16,851 295,677 312,528
DEPRECIATION
At 1 September 2023 8,004 143,426 151,430
Charge for period 983 16,770 17,753
At 31 March 2024 8,987 160,196 169,183
NET BOOK VALUE
At 31 March 2024 7,864 135,481 143,345
At 31 August 2023 8,847 151,816 160,663

The net book value of tangible fixed assets includes £ 25,575 (2023 - £ 29,942 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 166,136 162,403

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,000 17,258
Hire purchase contracts 6,798 6,798
Taxation and social security 29,359 24,408
Other creditors 148,479 145,331
189,636 193,795

Childrens Corner (Headingley) Limited (Registered number: 04877480)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 33,333 36,250
Hire purchase contracts 5,099 9,064
38,432 45,314

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 13,333 16,250

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 11,897 15,862
Bounce back loan balance 38,333 41,250
50,230 57,112

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

The bank loan is secured over the assets of the company by way of debenture.

10. CALLED UP SHARE CAPITAL

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

11. 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 44,414 26,414
Amounts advanced 10,500 50,000
Amounts repaid - (32,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 54,914 44,414

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