Company registration number 07453447 (England and Wales)
COUNTRYSIDE KIDS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2024
PAGES FOR FILING WITH REGISTRAR
COUNTRYSIDE KIDS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
COUNTRYSIDE KIDS LIMITED
BALANCE SHEET
AS AT
30 MAY 2024
30 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
48,239
53,507
Current assets
Stocks
11,363
14,946
Debtors
4
8,300
8,018
Cash at bank and in hand
34,343
35,770
54,006
58,734
Creditors: amounts falling due within one year
5
(99,601)
(161,287)
Net current liabilities
(45,595)
(102,553)
Total assets less current liabilities
2,644
(49,046)
Creditors: amounts falling due after more than one year
6
(48,375)
(54,298)
Net liabilities
(45,731)
(103,344)
Capital and reserves
Called up share capital
7
10
10
Profit and loss reserves
(45,741)
(103,354)
Total equity
(45,731)
(103,344)

For the financial year ended 30 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 26 February 2025
Mr H J Woollin
Director
Company registration number 07453447 (England and Wales)
COUNTRYSIDE KIDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2024
- 2 -
1
Accounting policies
Company information

Countryside Kids Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2, 71 Moor Park Avenue, Bispham, Blackpool, FY2 0LZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of 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 are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company finances its operations by means of a bank loan and the financial support of its director in order to meet its liabilities as they fall due.

 

The director has indicated that this support will continue for the foreseeable future and, as a result, has continued to adopt the going concern basis in preparing the financial statements.

1.3
Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
15% reducing balance
Plant and equipment
15% reducing balance
Fixtures and fittings
15% reducing balance
Computers
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

 

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

COUNTRYSIDE KIDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MAY 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.11
Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

 

 

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
14
14
COUNTRYSIDE KIDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MAY 2024
- 4 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 31 May 2023
26,472
97,411
123,883
Additions
-
0
2,363
2,363
At 30 May 2024
26,472
99,774
126,246
Depreciation and impairment
At 31 May 2023
15,559
54,817
70,376
Depreciation charged in the year
1,017
6,614
7,631
At 30 May 2024
16,576
61,431
78,007
Carrying amount
At 30 May 2024
9,896
38,343
48,239
At 30 May 2023
10,913
42,594
53,507
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
8,300
8,018
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
7,200
9,000
Trade creditors
12,315
10,064
Taxation and social security
41,503
29,452
Other creditors
36,633
110,821
Accruals and deferred income
1,950
1,950
99,601
161,287

Included in other creditors is a loan from a connected company. At the balance sheet date the balance outstanding was £nil (2023 - £67,134).

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
48,375
54,298
COUNTRYSIDE KIDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MAY 2024
6
Creditors: amounts falling due after more than one year
(Continued)
- 5 -

 

Amounts included above which fall due after five years are as follows:
Payable by instalments
19,575
27,298
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10
10
10
10
8
Directors' transactions

During the year, the company operated a loan account with the director, Mr H J Woollin. At the balance sheet date an amount of £36,630 (2023 - £43,687) was owed by the company.

 

The director has provided a limited personal guarantee in respect of the company's bank borrowings.

 

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