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Registration number: 09763089

Benjamin Pollocks Toyshop Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Benjamin Pollocks Toyshop Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Benjamin Pollocks Toyshop Limited

Company Information

Directors

Louise Heard

Orson Coupland

Registered office

44 The Market
Covent Garden
The Piazza
WC2E 8RF

Accountants

Field Sullivan Limited 9 Hare & Billet Road
Blackheath
SE3 0RB

 

Benjamin Pollocks Toyshop Limited

(Registration number: 09763089)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

17,055

21,944

Tangible assets

6

790

767

 

17,845

22,711

Current assets

 

Stocks

7

90,732

80,831

Debtors

8

8,912

3,108

Cash at bank and in hand

 

115,228

81,292

 

214,872

165,231

Creditors: Amounts falling due within one year

9

(151,822)

(135,111)

Net current assets

 

63,050

30,120

Total assets less current liabilities

 

80,895

52,831

Creditors: Amounts falling due after more than one year

9

(6,692)

(16,763)

Net assets

 

74,203

36,068

Capital and reserves

 

Called up share capital

10

1

1

Retained earnings

74,202

36,067

Shareholders' funds

 

74,203

36,068

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Benjamin Pollocks Toyshop Limited

(Registration number: 09763089)
Balance Sheet as at 30 September 2024

Approved and authorised by the Board on 22 April 2025 and signed on its behalf by:
 

.........................................
Louise Heard
Director

 

Benjamin Pollocks Toyshop Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
44 The Market
Covent Garden
The Piazza
WC2E 8RF

These financial statements were authorised for issue by the Board on 22 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity.
and recognised when exchanged or delivered.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Benjamin Pollocks Toyshop Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixture and fittings

20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents and licences

10 year straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Benjamin Pollocks Toyshop Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Benjamin Pollocks Toyshop Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

4

Taxation

Tax charged/(credited) in the income statement

2024
£

2023
£

Current taxation

UK corporation tax

18,734

17,047

 

Benjamin Pollocks Toyshop Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Intangible assets

Goodwill
 £

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 October 2023

30,000

50,611

80,611

At 30 September 2024

30,000

50,611

80,611

Amortisation

At 1 October 2023

30,000

28,667

58,667

Amortisation charge

-

4,889

4,889

At 30 September 2024

30,000

33,556

63,556

Carrying amount

At 30 September 2024

-

17,055

17,055

At 30 September 2023

-

21,944

21,944

 

Benjamin Pollocks Toyshop Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

2,103

2,103

Additions

316

316

At 30 September 2024

2,419

2,419

Depreciation

At 1 October 2023

1,336

1,336

Charge for the year

293

293

At 30 September 2024

1,629

1,629

Carrying amount

At 30 September 2024

790

790

At 30 September 2023

767

767

7

Stocks

2024
£

2023
£

Other inventories

90,732

80,831

8

Debtors

Current

2024
£

2023
£

Trade debtors

2,298

780

Other debtors

6,614

2,328

 

8,912

3,108

 

Benjamin Pollocks Toyshop Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

10,648

10,648

Trade creditors

 

47,649

29,133

Taxation and social security

 

25,465

27,853

Accruals and deferred income

 

2,085

1,965

Other creditors

 

65,975

65,512

 

151,822

135,111

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

6,692

16,763

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A share of £1 each

1

1

1

1

       
 

Benjamin Pollocks Toyshop Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

6,692

16,763

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,648

10,648

12

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £28,000.00 (2023 - £30,000.00) per each Ordinary A share

28,000

30,000

 

 

13

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

10,833

Contributions paid to money purchase schemes

13,717

8,909

26,287

19,742

Summary of transactions with other related parties

Louise Heard - Director

During the year the director was paid a salary of £12,570 (2023: £10,833) and received dividends of £28,000 (2023: £30,000) At the year end the company owed the director £65,133 (2023: £65,133).