ACCOUNTS - Final Accounts

An analysis of turnover by class of business is as follows:

Registered number: 06820541

TOY BROKERS HOLDINGS LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

TOY BROKERS HOLDINGS LIMITED

COMPANY INFORMATION

Directors	S R Pilkington
	M R Moody
	A C Shepherd
	D L Kremer


Company secretary	A C Shepherd


Registered number	06820541


Registered office	Hercules House
	Pierson Road
	Alconbury Weald
	Huntingdon
	Cambridgeshire
	PE28 4YA


Independent auditors	James Cowper Kreston Audit
	Chartered Accountants and Statutory Auditor
	Reading Bridge House
	George Street
	Reading
	Berkshire
	RG1 8LS

TOY BROKERS HOLDINGS LIMITED

CONTENTS

	Page
Group Strategic Report	1 - 2
Directors' Report	3 - 4
Independent Auditors' Report	5 - 7
Consolidated Statement of Comprehensive Income	8
Consolidated Balance Sheet	9
Company Balance Sheet	10
Consolidated Statement of Changes in Equity	11
Company Statement of Changes in Equity	12
Consolidated Statement of Cash Flows	13
Consolidated Analysis of Net Debt	14
Notes to the Financial Statements	15 - 34

TOY BROKERS HOLDINGS LIMITED

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

Business review

Our planned growth for the business proved to be challenging due to a number of factors, the main ones being:

∙A poor summer adversely impacted our outdoor business,

∙Consumer confidence continued to be weak, holding back spending in the economy,

∙Shipping costs were higher in 2024 due to increased demand and disruptions to major shipping routes, which delayed product availability and impacted our margins.

The Group turnover for the year increased by £1.0m to £23.2m:
2024 2023
John Adams Leisure £18.3m £18.2m
Peterkin £2.9m £3.0m
Toy Brokers £1.6m £0.9m
Bema Sports Company £0.4m £0.1m
The Group operating loss for the year was £0.2m compared to a £0.2m operating profit in 2023.
A final dividend in respect of the 2023 year of 20p was paid on 14 November 2024 amounting to £0.2m.
The balance sheet value stands at £22.3m and the business remains in a robust position to weather the ongoing economic uncertainty whilst we continue to invest in our product development, marketing and internal teams.
At the close of the 2024 year the Peterkin business was reorganised and merged with John Adams UK and EU business operations. In addition, our Toy Brokers Ltd international activities will now operate from John Adams Asia Ltd based in Hong Kong.

Principal risks and uncertainties

The management of the business and the nature of the Company’s strategy are subject to a number of risks and uncertainties. The Directors have set out below the principal risks facing the business:
Competition
The business operates in a competitive market and one that is currently subject to volatility due in part to lacklustre consumer confidence and in part to the continuing competitive market pressures resulting in reduced outlets to buy Toys & Games on the high street. Policies to mitigate these trends include the sales development of new & emerging retail partners now engaging in taking a share of toys & games, developing our online presence and continuous improvement in product & customer serviceability.
Customers
Credit risk to customers is managed through a credit control process and retention of title clauses.
Suppliers
The manufacture of our products is mainly carried out in China, with potential risks and uncertainties covering product safety, quality control issues and delivery schedules. This risk is managed by selecting and monitoring appropriate manufacturing facilities which are contacted on a regular basis.

Page 1

TOY BROKERS HOLDINGS LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Foreign currency
The majority of the product purchases are made in US dollars; consequently the business is exposed to foreign currency fluctuations. This foreign exchange risk is managed with forward foreign exchange contracts and currency options, to reduce the exposure.
Environmental
The business places emphasis upon environmental compliance especially in connection with product packaging and works towards constant improvement to ensure compliance with relevant legislation.
Liquidity risk
The business actively maintains asset backed finance to ensure that sufficient funds are in place for its operations and expansion.

Financial key performance indicators

The key performance indicators of the business are revenues, gross margin and operating profit (as detailed in the statement of comprehensive income) and cash generation.

This report was approved by the board and signed on its behalf.

A C Shepherd

Director

Date: 24 September 2025

Page 2

TOY BROKERS HOLDINGS LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors

The directors who served during the year were:

S R Pilkington

M R Moody

A C Shepherd

D L Kremer

Directors' responsibilities statement

The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Group's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The loss for the year, after taxation, amounted to £466,103 (2023 - loss £140,795).

Dividends were paid during the year and amounted to £223,607 (2023: £223,607).

Future developments

The Group has a strong business model with a balanced portfolio of domestic UK and International business. The Group will develop and launch new products and invest in its product ranges to achieve future profitable years. The Company will continue to address the rapidly changing marketplace by maintaining a strong focus on maximising distribution and consumer offtake in what is expected to be a more positive trading environment.

Page 3

TOY BROKERS HOLDINGS LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

Auditors

The auditors, James Cowper Kreston Audit, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

A C Shepherd

Director

Date: 24 September 2025

Page 4

TOY BROKERS HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TOY BROKERS HOLDINGS LIMITED

Opinion

We have audited the financial statements of Toy Brokers Holdings Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2024, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Group's and of the parent Company's affairs as at 31 December 2024 and of the Group's loss for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 5

TOY BROKERS HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TOY BROKERS HOLDINGS LIMITED (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or

∙the parent Company financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Group's and the parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the parent Company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.

Page 6

TOY BROKERS HOLDINGS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TOY BROKERS HOLDINGS LIMITED (CONTINUED)

The specific procedures for this engagement that we designed and performed to detect material misstatements
in respect of irregularities, including fraud, were as follows:

∙Enquiry of management and those charged with governance around actual and potential litigation and claims;

∙Enquiry of management and those charged with governance to identify any material instances of non-compliance with laws and regulations;

∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

∙Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Alexander Peal BSc (Hons) FCA DChA (Senior Statutory Auditor)

for and on behalf of

James Cowper Kreston Audit

Chartered Accountants and Statutory Auditor

Reading Bridge House

George Street

Reading

Berkshire

RG1 8LS

Date: 24 September 2025

Page 7

TOY BROKERS HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2024

	2024	2023
Note	£	£


Turnover	4	23,211,040	22,158,976
Cost of sales		(13,506,195)	(13,395,450)
Gross profit		9,704,845	8,763,526
Administrative expenses		(10,371,453)	(9,343,299)
Other operating income	5	459,664	773,406
Operating (loss)/profit	6	(206,944)	193,633
Interest receivable and similar income	10	13,861	7,964
Interest payable and similar expenses	11	(235,926)	(275,278)
Loss before tax		(429,009)	(73,681)
Tax on loss	12	(37,094)	(67,114)
Loss for the financial year		(466,103)	(140,795)

(Loss)/profit for the year attributable to:
Owners of the parent company		(466,103)	(140,795)

There was no other comprehensive income for 2024 or 2023.

The notes on pages 15 to 34 form part of these financial statements.

Page 8

TOY BROKERS HOLDINGS LIMITED

REGISTERED NUMBER: 06820541

CONSOLIDATED BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets	14		86,455		234,629
Tangible assets	15		12,896,021		12,971,711
			12,982,476		13,206,340
Current assets
Stocks	17	7,315,936		7,143,030
Debtors: amounts falling due within one year	18	10,756,858		10,488,319
Cash at bank and in hand	19	1,117,297		1,509,104
		19,190,091		19,140,453
Creditors: amounts falling due within one year	20	(9,535,020)		(9,043,239)
Net current assets			9,655,071		10,097,214
Total assets less current liabilities			22,637,547		23,303,554
Provisions for liabilities
Deferred tax	22		(372,805)		(349,102)
Net assets			22,264,742		22,954,452

Capital and reserves
Called up share capital	23	1,118,034	1,118,034
Share premium account	24	326,713	326,713
Capital redemption reserve	24	228,669	228,669
Profit and loss account	24	20,591,326	21,281,036
		22,264,742	22,954,452

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

A C Shepherd

Director

Date: 24 September 2025

The notes on pages 15 to 34 form part of these financial statements.

Page 9

TOY BROKERS HOLDINGS LIMITED

REGISTERED NUMBER: 06820541

COMPANY BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Investments	16		4,872,426		5,818,873
Current assets
Debtors: amounts falling due within one year	18	7,394,598		6,708,095
Cash at bank and in hand	19	205,210		6,893
		7,599,808		6,714,988
Creditors: amounts falling due within one year	20	(10,803,634)		(10,720,772)
Net current liabilities			(3,203,826)		(4,005,784)
Total assets less current liabilities			1,668,600		1,813,089


Net assets			1,668,600		1,813,089

Capital and reserves
Called up share capital	23	1,118,034	1,118,034
Share premium account	24	326,713	326,713
Capital redemption reserve	24	228,669	228,669
Profit and loss account		(4,816)	139,673
		1,668,600	1,813,089

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

A C Shepherd

Director

Date: 24 September 2025

The notes on pages 15 to 34 form part of these financial statements.

Page 10

TOY BROKERS HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Share premium account	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£	£
At 1 January 2024	1,118,034	326,713	228,669	21,281,036	22,954,452

Loss for the year	-	-	-	(466,103)	(466,103)
Dividends: Equity capital	-	-	-	(223,607)	(223,607)
At 31 December 2024	1,118,034	326,713	228,669	20,591,326	22,264,742

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2023

	Called up share capital	Share premium account	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£	£
At 1 January 2023	1,118,034	326,713	228,669	21,645,438	23,318,854

Loss for the year	-	-	-	(140,795)	(140,795)
Dividends: Equity capital	-	-	-	(223,607)	(223,607)
At 31 December 2023	1,118,034	326,713	228,669	21,281,036	22,954,452

The notes on pages 15 to 34 form part of these financial statements.

Page 11

TOY BROKERS HOLDINGS LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Share premium account	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£	£
At 1 January 2024	1,118,034	326,713	228,669	139,673	1,813,089

Profit for the year	-	-	-	79,118	79,118
Dividends: Equity capital	-	-	-	(223,607)	(223,607)
At 31 December 2024	1,118,034	326,713	228,669	(4,816)	1,668,600

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2023

	Called up share capital	Share premium account	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£	£
At 1 January 2023	1,118,034	326,713	228,669	45,602	1,719,018

Profit for the year	-	-	-	317,678	317,678
Dividends: Equity capital	-	-	-	(223,607)	(223,607)
At 31 December 2023	1,118,034	326,713	228,669	139,673	1,813,089

The notes on pages 15 to 34 form part of these financial statements.

Page 12

TOY BROKERS HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2024

			2024	2023
			£	£

Cash flows from operating activities
Loss for the financial year	(466,103)	(140,795)
Adjustments for:
Amortisation of intangible assets	148,174	148,176
Depreciation of tangible assets	213,796	393,851
Loss on disposal of tangible assets	5,762	-
Interest paid	235,926	275,278
Interest received	(13,861)	(7,964)
Taxation charge	37,094	67,114
(Increase)/decrease in stocks	(172,906)	3,455,540
(Increase) in debtors	(268,539)	(1,215,539)
Increase in creditors	879,202	197,611
Corporation tax (paid)	(13,391)	(84,408)
Net cash generated from operating activities	585,154	3,088,864

Cash flows from investing activities
Purchase of tangible fixed assets	(143,869)	(122,474)
Interest received	13,861	7,964
Net cash from investing activities	(130,008)	(114,510)
Cash flows from financing activities
Repayment of loans	(387,420)	(2,609,897)
Dividends paid	(223,607)	(223,607)
Interest paid	(235,926)	(275,278)
Net cash used in financing activities	(846,953)	(3,108,782)
Net (decrease) in cash and cash equivalents	(391,807)	(134,428)
Cash and cash equivalents at beginning of year	1,509,104	1,643,532
Cash and cash equivalents at the end of year	1,117,297	1,509,104

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	1,117,297	1,509,104

The notes on pages 15 to 34 form part of these financial statements.

Page 13

TOY BROKERS HOLDINGS LIMITED

CONSOLIDATED ANALYSIS OF NET DEBT

FOR THE YEAR ENDED 31 DECEMBER 2024


At 1 January 2024	Cash flows	At 31 December 2024
£	£	£

Cash at bank and in hand	1,509,104	(391,807)	1,117,297
Debt due within 1 year	(5,013,414)	387,420	(4,625,994)
	(3,504,310)	(4,387)	(3,508,697)

The notes on pages 15 to 34 form part of these financial statements.

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TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Toy Brokers Holdings Limited is a private company limited by share capital and incorporated in England and Wales. The address of the registered office and principal place of business is Hercules House, Pierson Road, Alconbury Weald, Huntingdon, Cambridgeshire, PE28 4YA.
The principal activity of the Group is that of inventing, selling, distributing and marketing of toys, games and related products.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 January 2014.

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TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Group has transferred the significant risks and rewards of ownership to the buyer;

∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.8

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.10

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Goodwill

years

2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The Group adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Group. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property	-	2% straight line
Plant and machinery	-	10% to 20% straight line
Motor vehicles	-	25% straight line
Fixtures and fittings	-	12.5% straight line
Computer equipment	-	50% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 18

TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Group shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Consolidated Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Page 19

TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.18

Financial instruments

Financial instruments are recognised in the Group's Balance Sheet when the Group becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Page 20

TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.18

Financial instruments (continued)

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.

2.19

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 21

TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgments (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Taxation
The group establishes provisions based on reasonable estimates, for possible consequences of audits by the tax authorities. The amount of such provisions is based on various factors, such as experience with previous tax submissions. Management estimation is required to determine the amount of deferred tax assets and liabilities that can be recognised, based upon likely timing and level of future taxable profits together with an assessment of the effect of future tax planning strategies.
Goodwill
The group establishes a reliable estimate of the useful life of goodwill and intangible assets arising on business combinations. This estimate is based on a variety of factors such as the expected use of the acquired business, the expected usual life of the assets to which the goodwill is attributed, any legal, regulatory or contractual provisions that can limit useful life and assumptions that market participants would consider in respect of similar businesses.
Tangible fixed assets
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining life of the asset and projected disposal values.
Provisions
Included within accruals and deferred income are provisions estimated by the company based upon past experiences from similar contracts and with knowledge of known issues that management are confident will result in an outflow of economic benefit from the company.
Operating lease commitments
The Group has entered into commercial lease contracts and as a lessee it obtains use of property, plant and equipment. The classification of such leases as operating or finance lease requires the Group to determine, based on an evaluation of the terms and conditions of the arrangements, whether it retains or acquires the significant risks and rewards of ownership of these assets and accordingly whether the lease requires an asset and liability to be recognised in the Balance Sheet.
Stock provision
The Company makes provision for slow moving and obsolete stock on a monthly basis based on management's best estimate of future sales levels. The accuracy of these judgments is inherently uncertain, however management regularly monitor stock provisions to ensure that they are as reliable as possible.

Page 22

TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

	Selling, distribution and marketing toys, games and related products	23,211,040	22,158,976

Analysis of turnover by country of destination:

					2024	2023
					£	£

United Kingdom	19,475,244	18,942,864
Rest of Europe	2,599,069	2,498,392
Rest of the world	1,136,727	717,720
	23,211,040	22,158,976

5.	Other operating income
		2024	2023
		£	£

Other operating income	10,012	7,241
Marketing support	12,733	9,452
Royalties receivable	104,735	192,277
Commissions receivable	272,203	480,026
Consultancy fee income	59,981	84,410
	459,664	773,406

Depreciation of tangible fixed assets	213,581	393,851
Amortisation of intangible assets, including goodwill	148,174	148,176
Exchange differences	28,109	(31,819)

Page 23

TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Fees payable to the Company's auditors for the audit of the consolidated and parent Company's financial statements

43,000

42,725

8.	Employees
	Staff costs, including directors' remuneration, were as follows:

Group	Group	Company	Company
2024	2023	2024	2023
£	£	£	£


Wages and salaries	2,344,089	2,292,832	250,092	252,092
Social security costs	219,333	213,724	30,905	29,598
Cost of defined contribution scheme	154,672	147,351	29,036	22,902
	2,718,094	2,653,907	310,033	304,592

The average monthly number of employees, including the directors, during the year was as follows:

	2024	2023
	No.	No.

Sales, marketing, administration and directors	52	46

9.	Directors' remuneration
		2024	2023
		£	£

Directors' emoluments	264,092	266,092
Group contributions to defined contribution pension schemes	33,036	26,902
	297,128	292,994

	During the year retirement benefits were accruing to 2 directors (2023 - 2) in respect of defined contribution pension schemes.
	The highest paid director received remuneration of £229,248 (2023 - £229,248).
	The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £17,036 (2023 - £12,902).

Page 24

TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.	Interest receivable
		2024	2023
		£	£

Other interest receivable

13,861

7,964

11.	Interest payable and similar expenses
		2024	2023
		£	£

Bank interest payable	235,924	274,293
Other loan interest payable	2	130
Finance leases and hire purchase contracts	-	855
	235,926	275,278

Corporation tax
Current tax on profits for the year	(23,780)	97,017
Adjustments in respect of previous periods	37,171	(12,609)

Total current tax	13,391	84,408

Deferred tax
Origination and reversal of timing differences	23,703	(17,294)
Total deferred tax	23,703	(17,294)


	Taxation on profit on ordinary activities	37,094	67,114

Page 25

TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

12.Taxation (continued)

Loss on ordinary activities before tax

(429,009)

(73,681)

Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.52%)	(107,252)	(17,330)
Effects of:
Expenses not deductible for tax purposes	107,175	38,201
Adjustments to tax charge in respect of prior periods	37,171	(12,609)
Impact of changes in taxation rates on deferred taxation	-	64,417
Lower rate taxes on overseas earnings	-	(5,565)
Total tax charge for the year	37,094	67,114

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

13.	Dividends
		2024	2023
		£	£

Dividends

223,607

Page 26

TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

14.	Intangible assets
	Group

		Goodwill
		£
	Cost
	At 1 January 2024	1,894,755
	At 31 December 2024	1,894,755
	Amortisation
	At 1 January 2024	1,660,126
	Charge for the year	148,174
	At 31 December 2024	1,808,300
	Net book value
	At 31 December 2024	86,455
	At 31 December 2023	234,629

Page 27

TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

15.	Tangible fixed assets
	Group

	Freehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Total
	£	£	£	£	£
Cost or valuation
At 1 January 2024	12,563,739	2,101,196	56,123	486,882	15,207,940
Additions	-	83,558	-	60,096	143,654
Disposals	-	(27,192)	(22,421)	(13,947)	(63,560)
At 31 December 2024	12,563,739	2,157,562	33,702	533,031	15,288,034
Depreciation
At 1 January 2024	66,226	1,749,933	46,307	373,763	2,236,229
Charge for the year	11,774	133,152	7,947	60,708	213,581
Disposals	-	(23,298)	(20,552)	(13,947)	(57,797)
At 31 December 2024	78,000	1,859,787	33,702	420,524	2,392,013
Net book value
At 31 December 2024	12,485,739	297,775	-	112,507	12,896,021
At 31 December 2023	12,497,513	351,263	9,816	113,119	12,971,711

Page 28

TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

16.	Fixed asset investments

	Company

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2024	5,818,873
	At 31 December 2024	5,818,873
	Impairment
	At 1 January 2024	-
	Charge for the period	946,447
	At 31 December 2024	946,447
	Net book value
	At 31 December 2024	4,872,426
	At 31 December 2023	5,818,873

Direct subsidiary undertakings
The following were direct subsidiary undertakings of the Company:
Name	Registered office	Class of shares	Holding

John Adams Leisure Limited	See (i) below	Ordinary	100%
Toy Brokers Limited	See (i) below	Ordinary	100%
Thurling Limited	See (ii) below	Ordinary	100%
Peterkin Group Limited	See (ii) below	Ordinary	100%
Bema Sports Company Limited	See (i) below	Ordinary	100%
John Adams Trading Company Limited	See (i) below	Ordinary	100%

Page 29

TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Indirect subsidiary undertakings
The following were indirect subsidiary undertakings of the Company:
Name	Registered office	Class of shares	Holding

John Adams Leisure EU Limited	See (iii) below	Ordinary	100%
Peterkin UK Limited	See (ii) below	Ordinary	100%
Peterkin Toys EU Limited	See (iii) below	Ordinary	100%
Peterkin Asia Limited	See (iv) below	Ordinary	100%

Registered office details:
(i) Hercules House, Pierson Road, Alconbury Weald, Huntingdon, Cambridgeshire, England, PE28 4YA
(ii) Old London House, Stoke Row, Henley On Thames, Oxfordshire, United Kingdom, RG9 5QL
(iii) 1 Castlewood Avenue, Rathmines, Dublin 6, Ireland
(iv) 22nd Floor, Tai Yau Building, 181 Johnston Road, Wanchai, Hong Kong

Page 30

TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

17.	Stocks
		Group	Group
		2024	2023
		£	£

	Finished goods and goods for resale	7,315,936	7,143,030

Stock recognised in cost of sales during the year as an expense was £10,682,402 (2023: £11,486,425).

18.

Debtors

Group	Group	Company	Company
2024	2023	2024	2023
£	£	£	£


Trade debtors	9,970,771	9,611,492	-	-
Amounts owed by group undertakings	-	-	7,386,900	6,700,700
Other debtors	91,382	257,724	-	-
Prepayments and accrued income	694,705	619,103	2,547	1,684
Deferred taxation	-	-	5,151	5,711
	10,756,858	10,488,319	7,394,598	6,708,095

19.	Cash and cash equivalents
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

	Cash at bank and in hand	1,117,297	1,509,104	205,210	6,893

20.	Creditors: Amounts falling due within one year
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Bank borrowings	4,625,994	5,013,414	-	-
Trade creditors	702,346	428,542	57,387	6,385
Amounts owed to group undertakings	-	-	10,703,532	10,677,601
Other taxation and social security	1,295,497	1,203,463	27,146	27,144
Accruals and deferred income	2,911,183	2,397,820	15,569	9,642
	9,535,020	9,043,239	10,803,634	10,720,772

Secured loans
Bank borrowings are secured by a fixed and floating charge over certain the assets of the Group.

Page 31

TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

21.	Financial instruments
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Financial assets
Financial assets measured at fair value through profit or loss	1,117,297	1,509,104	-	6,893
Financial assets measured at amortised cost	10,110,763	9,869,216	-	6,700,700
	11,228,060	11,378,320	-	6,707,593

	Financial liabilities
	Financial liabilities measured at amortised cost	(5,323,989)	(5,441,956)	-	(10,683,986)

	Financial assets measured at fair value through profit or loss comprise cash and cash equivalents.
	Financial assets measured at amortised cost comprise trade, intercompany and other receivables.
	Financial liabilities measured at amortised cost comprise trade and intercompany payables and bank borrowings.

Page 32

TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

22.	Deferred taxation
	Group

		2024
		£

	At beginning of year	(349,102)
	Credited to profit or loss	(23,703)
	At end of year	(372,805)

Company

		2024
		£

	At beginning of year	5,711
	Charged to profit or loss	(560)
	At end of year	5,151

Group	Group	Company	Company
2024	2023	2024	2023
£	£	£	£

Accelerated capital allowances	(372,245)	(392,623)	5,711	5,711
Short term timing differences	(560)	43,521	(560)	-
	(372,805)	(349,102)	5,151	5,711

23.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

1,118,034 (2023 - 1,118,034) Ordinary shares of £1.00 each	1,118,034	1,118,034

Page 33

TOY BROKERS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

24.

Reserves

Share premium account

This reserve represents the amount above the nominal value received for shares issued, less transaction costs.

Capital redemption reserve

This reserve represents the nominal value of shares repurchased by the company.

Profit and loss account

This reserve represents the cumulative profit available for distribution to shareholders.

25.	Pension commitments

The Group operates defined contributions pension schemes. The assets of the schemes are held separately from those of the Group in independently administered funds. The pension cost charge represents contributions payable by the Group to the funds and amounted to £132,431 (2023: £147,351). At the year end, outstanding contributions totalled £nil (2023: £nil).

26.	Commitments under operating leases
	At 31 December 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
		Group	Group
		2024	2023
		£	£

Not later than 1 year	795,128	790,038
Later than 1 year and not later than 5 years	1,866,738	2,645,597
	2,661,866	3,435,635

27.	Related party transactions
	During the year purchases and charges of £198,117 (2023: £211,709) were made to the Group by companies related to Directors. At 31 December 2024 the Group owed those companies £18,848 (2023: £20,389). The Directors consider themselves to be the only key management personnel and details of their remuneration can be found in note 9.

Page 34