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REGISTERED NUMBER: 07561767 (England and Wales)















LITTLE ACTIVE KIDS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






LITTLE ACTIVE KIDS LIMITED (REGISTERED NUMBER: 07561767)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


LITTLE ACTIVE KIDS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs T N Bradshaw
C E Bradshaw





REGISTERED OFFICE: Unit 13-14 Belton Lane Industrial Estate
Grantham
Lincolnshire
NG31 9HN





REGISTERED NUMBER: 07561767 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF

LITTLE ACTIVE KIDS LIMITED (REGISTERED NUMBER: 07561767)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,374 5,064
Tangible assets 5 15,538 24,829
21,912 29,893

CURRENT ASSETS
Stocks 153,896 188,135
Debtors 6 68,839 26,449
Cash at bank - 34,570
222,735 249,154
CREDITORS
Amounts falling due within one year 7 162,680 110,357
NET CURRENT ASSETS 60,055 138,797
TOTAL ASSETS LESS CURRENT LIABILITIES 81,967 168,690

CREDITORS
Amounts falling due after more than one year 8 (26,833 ) (49,833 )

PROVISIONS FOR LIABILITIES - (6,147 )
NET ASSETS 55,134 112,710

CAPITAL AND RESERVES
Called up share capital 9 2 2
Share premium 50,000 50,000
Retained earnings 5,132 62,708
SHAREHOLDERS' FUNDS 55,134 112,710

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

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

LITTLE ACTIVE KIDS LIMITED (REGISTERED NUMBER: 07561767)

STATEMENT OF FINANCIAL POSITION - 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 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 10 October 2024 and were signed on its behalf by:





C E Bradshaw - Director


LITTLE ACTIVE KIDS LIMITED (REGISTERED NUMBER: 07561767)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Little Active Kids 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website development are being amortised evenly over their estimated useful life of two 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.
Plant and machinery etc - 50% on cost and 25% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives.

Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

LITTLE ACTIVE KIDS LIMITED (REGISTERED NUMBER: 07561767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Government grants
Government assistance was claimed during the year as entitled under the Coronavirus Job Retention Scheme (CJRS). CJRS is a furlough scheme administered by Her Majesty’s Revenue & Customs (HMRC). The scheme allowed companies to reclaim up to 80% of employment costs for employees who might otherwise have been subject to redundancy as a result of downturn in trade caused by the Coronavirus pandemic.

Any amounts received in the year are recorded as other income.

The assistance provided was unconditional, outside of the obligation to pay a minimum of the amount received over to affected employees, that these employees would no longer be required to perform any duties whilst furloughed and that they were retained in the company's employ for the period of each claim. There are no other contingencies that apply to the amounts received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 15 ) .

LITTLE ACTIVE KIDS LIMITED (REGISTERED NUMBER: 07561767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023 35,000 13,753 48,753
Additions - 12,750 12,750
At 31 March 2024 35,000 26,503 61,503
AMORTISATION
At 1 April 2023 35,000 8,689 43,689
Charge for year - 11,440 11,440
At 31 March 2024 35,000 20,129 55,129
NET BOOK VALUE
At 31 March 2024 - 6,374 6,374
At 31 March 2023 - 5,064 5,064

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 82,834
Additions 1,867
Disposals (803 )
At 31 March 2024 83,898
DEPRECIATION
At 1 April 2023 58,005
Charge for year 11,158
Eliminated on disposal (803 )
At 31 March 2024 68,360
NET BOOK VALUE
At 31 March 2024 15,538
At 31 March 2023 24,829

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 51,046 16,350
Other debtors 15,261 4,663
Prepayments and accrued income 1,095 1,908
67,402 22,921

LITTLE ACTIVE KIDS LIMITED (REGISTERED NUMBER: 07561767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Other debtors 1,437 3,528

Aggregate amounts 68,839 26,449

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 23,489 23,000
Other loans 36,430 -
Trade creditors 71,805 61,308
Amounts owed to associates 1,734 -
Taxation - 4,850
Other taxes and social security 10,272 7,060
Other creditors 1,492 1,244
Directors' current accounts 13,486 9,241
Accruals and deferred income 3,972 3,654
162,680 110,357

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 26,833 49,833

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,000 Ordinary A 0.001 2 2
222 Ordinary B 0.001 - -
2 2

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
C E Bradshaw and Mrs T N Bradshaw
Balance outstanding at start of year (9,240 ) 26,838
Amounts advanced 57,656 96,595
Amounts repaid (61,901 ) (132,673 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (13,485 ) (9,240 )