UNICORN BRANDS LTD

Company Registration Number:
12539106 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

UNICORN BRANDS LTD

Contents of the Financial Statements

for the Period Ended 31 March 2024

Profit and loss
Balance sheet
Additional notes
Balance sheet notes

UNICORN BRANDS LTD

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 6,790,866 2,299,035
Cost of sales: ( 3,572,149 ) ( 1,201,808 )
Gross profit(or loss): 3,218,717 1,097,227
Distribution costs: ( 23,113 ) ( 2,262 )
Administrative expenses: ( 2,633,935 ) ( 1,059,815 )
Other operating income: 14
Operating profit(or loss): 561,669 35,164
Interest payable and similar charges: ( 1,281 ) ( 2,002 )
Profit(or loss) before tax: 560,388 33,162
Tax: ( 126,314 )
Profit(or loss) for the financial year: 434,074 33,162

UNICORN BRANDS LTD

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 75,615 62,275
Total fixed assets: 75,615 62,275
Current assets
Stocks: 4 520,827 132,607
Debtors: 5 800,154 126,603
Cash at bank and in hand: 528,839 112,764
Total current assets: 1,849,820 371,974
Creditors: amounts falling due within one year: 6 ( 1,327,128 ) ( 187,930 )
Net current assets (liabilities): 522,692 184,044
Total assets less current liabilities: 598,307 246,319
Creditors: amounts falling due after more than one year: 7 ( 134,747 ) ( 137,955 )
Accruals and deferred income: ( 6,298 )
Total net assets (liabilities): 463,560 102,066
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 463,559 102,065
Total Shareholders' funds: 463,560 102,066

The notes form part of these financial statements

UNICORN BRANDS LTD

Balance sheet statements

For the year ending 31 March 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.

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

This report was approved by the board of directors on 1 November 2024
and signed on behalf of the board by:

Name: Temidayo Kamson
Status: Director

The notes form part of these financial statements

UNICORN BRANDS LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

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

    Turnover policy

    Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably

    Tangible fixed assets depreciation policy

    All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows: Plant & Machinery: straight line - 5 years, Office equipment: Straight line - 5 years

    Valuation information and policy

    Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

UNICORN BRANDS LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 25 5

UNICORN BRANDS LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 74,310 7,210 81,520
Additions 29,040 1,148 30,188
Disposals
Revaluations
Transfers
At 31 March 2024 103,350 8,358 111,708
Depreciation
At 1 April 2023 17,538 1,707 19,245
Charge for year 15,437 1,411 16,848
On disposals
Other adjustments
At 31 March 2024 32,975 3,118 36,093
Net book value
At 31 March 2024 70,375 5,240 75,615
At 31 March 2023 56,772 5,503 62,275

UNICORN BRANDS LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Stocks

2024 2023
£ £
Stocks 520,827 132,607
Total 520,827 132,607

UNICORN BRANDS LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Debtors

2024 2023
£ £
Trade debtors 591,692 120,125
Other debtors 208,462 6,478
Total 800,154 126,603

UNICORN BRANDS LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 5,695 949
Trade creditors 581,579 63,698
Taxation and social security 446,738 70,066
Accruals and deferred income 91,080
Other creditors 202,036 53,217
Total 1,327,128 187,930

UNICORN BRANDS LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

7. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 50,010 137,955
Other creditors 84,737
Total 134,747 137,955