YOUNG IDEAS LIMITED

Company Registration Number:
01703991 (England and Wales)

Unaudited abridged accounts for the year ended 30 January 2024

Period of accounts

Start date: 01 February 2023

End date: 30 January 2024

YOUNG IDEAS LIMITED

Contents of the Financial Statements

for the Period Ended 30 January 2024

Balance sheet
Notes

YOUNG IDEAS LIMITED

Balance sheet

As at 30 January 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 32,592 45,872
Total fixed assets: 32,592 45,872
Current assets
Stocks: 648,740 687,256
Debtors: 4 486,834 603,022
Cash at bank and in hand: 145,652 104,218
Total current assets: 1,281,226 1,394,496
Creditors: amounts falling due within one year:   (459,753) (815,186)
Net current assets (liabilities): 821,473 579,310
Total assets less current liabilities: 854,065 625,182
Creditors: amounts falling due after more than one year:   (626,664) (574,097)
Total net assets (liabilities): 227,401 51,085
Capital and reserves
Called up share capital: 100 100
Other reserves: 215,000 215,000
Profit and loss account: 12,301 (164,015)
Shareholders funds: 227,401 51,085

The notes form part of these financial statements

YOUNG IDEAS LIMITED

Balance sheet statements

For the year ending 30 January 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 17 October 2024
and signed on behalf of the board by:

Name: Colin Wright
Status: Director

The notes form part of these financial statements

YOUNG IDEAS LIMITED

Notes to the Financial Statements

for the Period Ended 30 January 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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

Tangible fixed assets and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. Plant and Machinery etc.- 20 percent on cost and at varying rates on cost

Intangible fixed assets and amortisation policy

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

Other accounting policies

Goodwill Goodwill, being the amount paid in connection with the acquisition of a business ,is being amortised evenly over its estimated useful life of 10 years Stocks Stocks are valued at lower of cost and realiseable value, after making the allowance for obsolete and slow moving items. 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 and other future taxable profits. Hire Purchase and leasing commitments Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under a finance lease are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to profit and loss over the relevant period. The capital element of the future payment is treated as a 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

YOUNG IDEAS LIMITED

Notes to the Financial Statements

for the Period Ended 30 January 2024

2. Employees

2024 2023
Average number of employees during the period 32 27

YOUNG IDEAS LIMITED

Notes to the Financial Statements

for the Period Ended 30 January 2024

3. Tangible Assets

Total
Cost £
At 01 February 2023 304,692
Additions 20,251
Disposals (71,489)
At 30 January 2024 253,454
Depreciation
At 01 February 2023 258,820
Charge for year 19,600
On disposals (57,558)
At 30 January 2024 220,862
Net book value
At 30 January 2024 32,592
At 31 January 2023 45,872

YOUNG IDEAS LIMITED

Notes to the Financial Statements

for the Period Ended 30 January 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 51,697 25,501

YOUNG IDEAS LIMITED

Notes to the Financial Statements

for the Period Ended 30 January 2024

5. Financial commitments

The company has entered into a cross guarantee with the other companies such that it will guarantee the bank overdraft borrowings of those other group companies should they be unable to meet their liabilities At 31 January 2024 the potential liability was £93,826 (2023: 151,906) The company has entered into a cross company debenture with the other group companies such that it will guarantee the pension loan borrowing in Young Ideas Group Limited should that company be unable to meet the liability. At 31 January 2024 the potential liability was £1,017,686 (2023: £956,635)

YOUNG IDEAS LIMITED

Notes to the Financial Statements

for the Period Ended 30 January 2024

6. Related party transactions

Name of the related party: Little Trekkers Limited
Relationship:
Group company
Description of the Transaction: Amount repayable after more than one year and interest free
£
Balance at 01 February 2023 25,501
Balance at 30 January 2024 25,501
Name of the related party: Henmores Lifestyle Limited
Relationship:
Group company
Description of the Transaction: The amount is repayable after more than one year and interest free
£
Balance at 01 February 2023 0
Balance at 30 January 2024 26,197
Name of the related party: Boobydoo Limited
Relationship:
Group company
Description of the Transaction: The amount is payable after more than one year and interest free
£
Balance at 01 February 2023 1,829
Balance at 30 January 2024 1,967
Name of the related party: Young Ideas Group Limited
Relationship:
Parent company
Description of the Transaction: The amount payable is due after more than one year and is interest free
£
Balance at 01 February 2023 64,345
Balance at 30 January 2024 70,788
Name of the related party: Greenman Investments LLP
Relationship:
A company under common control of the Directors
Description of the Transaction: The amount is payable after more than one year and interest free
£
Balance at 01 February 2023 0
Balance at 30 January 2024 1,779