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Company registration number: 01754656
Childrens Books Limited
Company limited by guarantee
Unaudited filleted financial statements
31 October 2024
Childrens Books Limited
Company limited by guarantee
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Childrens Books Limited
Company limited by guarantee
Directors and other information
Directors Ms F E Coles
Ms K M Mason
Secretary Ms F E Coles
Company number 01754656
Registered office Unit 12 Mainyard Studios
679-691 High Road Leyton
London
E10 6RA
Childrens Books Limited
Company limited by guarantee
Statement of financial position
31 October 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 6 936 1,343
Investments 7 12,000 12,000
_______ _______
12,936 13,343
Current assets
Stocks 14,831 17,272
Debtors 8 56,973 63,757
Cash at bank and in hand 27,694 25,950
_______ _______
99,498 106,979
Creditors: amounts falling due
within one year 9 ( 14,847) ( 16,262)
_______ _______
Net current assets 84,651 90,717
_______ _______
Total assets less current liabilities 97,587 104,060
_______ _______
Net assets 97,587 104,060
_______ _______
Capital and reserves
Revaluation reserve 12,000 12,000
Profit and loss account 85,587 92,060
_______ _______
Members funds 97,587 104,060
_______ _______
For the year ending 31 October 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 June 2025 , and are signed on behalf of the board by:
Ms K M Mason
Director
Company registration number: 01754656
Childrens Books Limited
Company limited by guarantee
Notes to the financial statements
Year ended 31 October 2024
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Unit 12 Mainyard Studios, 679-691 High Road Leyton, London, E10 6RA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Limited by guarantee
The company is limited whereby each member of the company undertakes to contribute to the company in the event of a winding up, while they are a member or within one year after they cease to be a member, such amount as may be required not exceeding one pound. At 31 October 2024 there were 2 members (2023: 2 members).
5. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
6. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 November 2023 42,139 42,139
Disposals ( 180) ( 180)
_______ _______
At 31 October 2024 41,959 41,959
_______ _______
Depreciation
At 1 November 2023 40,796 40,796
Charge for the year 407 407
Disposals ( 180) ( 180)
_______ _______
At 31 October 2024 41,023 41,023
_______ _______
Carrying amount
At 31 October 2024 936 936
_______ _______
At 31 October 2023 1,343 1,343
_______ _______
7. Investments
Other investments other than loans Total
£ £
Cost
At 1 November 2023 and 31 October 2024 12,000 12,000
_______ _______
Impairment
At 1 November 2023 and 31 October 2024 - -
_______ _______
Carrying amount
At 31 October 2024 12,000 12,000
_______ _______
At 31 October 2023 12,000 12,000
_______ _______
Unlisted investments represented the value of all books held as at 31 October 2024 in the 'Archive Library'. The Archive Library consists of a copy of all books that have been sold during the trading period. Childrens Books Limited will continue to revalue these assets each year. No provision for diminution in value is to be provided.
8. Debtors
2024 2023
£ £
Trade debtors 54,091 59,805
Other debtors 2,882 3,952
_______ _______
56,973 63,757
_______ _______
9. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 10,184 11,148
Social security and other taxes 226 113
Other creditors 4,437 5,001
_______ _______
14,847 16,262
_______ _______
10. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 9,080 -
_______ _______