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Registered number: 12901254
Toycult Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Ecommerce Accountants LLP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12901254
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 299 -
299 -
CURRENT ASSETS
Stocks 5 24,851 3,124
Debtors 6 17,712 -
Cash at bank and in hand 301 349
42,864 3,473
Creditors: Amounts Falling Due Within One Year 7 (56,521 ) (12,338 )
NET CURRENT ASSETS (LIABILITIES) (13,657 ) (8,865 )
TOTAL ASSETS LESS CURRENT LIABILITIES (13,358 ) (8,865 )
NET LIABILITIES (13,358 ) (8,865 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (13,359 ) (8,866 )
SHAREHOLDERS' FUNDS (13,358) (8,865)
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For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Zhakir Rafiq
Director
19/02/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Toycult Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12901254 . The registered office is 128 City Road, London, EC1V 2NX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment Straight line basis over three years.
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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 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 or other future taxable profits.
2.7. Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 October 2023 -
Additions 449
As at 30 September 2024 449
Depreciation
As at 1 October 2023 -
Provided during the period 150
As at 30 September 2024 150
Net Book Value
As at 30 September 2024 299
As at 1 October 2023 -
5. Stocks
2024 2023
£ £
Finished goods 24,851 3,124
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 334 -
Other debtors 17,378 -
17,712 -
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 15,178 -
Other creditors 41,343 12,338
56,521 12,338
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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