FIRESTAR TOYS LTD - Filleted accounts

Registered number

05600428

FIRESTAR TOYS LTD

Filleted Accounts

31 March 2025

FIRESTAR TOYS LTD
Registered number:		05600428
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		40,083			19,006
Tangible assets	4		172,020			86,848
			212,103			105,854

Current assets
Stocks		248,000			228,000
Debtors	5	69,229			82,157
Cash at bank and in hand		369,808			190,401
		687,037			500,558

Creditors: amounts falling due within one year	6	(157,284)			(159,832)

Net current assets			529,753			340,726

Total assets less current liabilities			741,856			446,580

Creditors: amounts falling due after more than one year	7		(45,722)			(75,321)

Provisions for liabilities			(42,722)			-


Net assets			653,412			371,259

Capital and reserves
Called up share capital			100			100
Profit and loss account			653,312			371,159

Shareholder's funds			653,412			371,259

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




P Charalambous
Director
Approved by the board on 11 September 2025

FIRESTAR TOYS LTD
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			12.5% reducing balance
	Motor vehicles			25% reducing balance
	Fixtures and fittings			12.5% reducing balance
	Office equipment			12.5% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					14		12


3	Intangible assets							£
	Website:

	Cost
	At 1 April 2024							27,520
	Additions							26,477
	At 31 March 2025							53,997

	Amortisation
	At 1 April 2024							8,514
	Provided during the year							5,400
	At 31 March 2025							13,914

	Net book value
	At 31 March 2025							40,083
	At 31 March 2024							19,006

	Website is being written off in equal annual instalments over its estimated economic life of 10 years.


4	Tangible fixed assets
		Land & buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2024	-		38,338		99,358		137,696
	Additions	45,793		70,259		-		116,052
	At 31 March 2025	45,793		108,597		99,358		253,748

	Depreciation
	At 1 April 2024	-		4,792		46,056		50,848
	Charge for the year	4,579		12,976		13,325		30,880
	At 31 March 2025	4,579		17,768		59,381		81,728

	Net book value
	At 31 March 2025	41,214		90,829		39,977		172,020
	At 31 March 2024	-		33,546		53,302		86,848


5	Debtors					2025		2024
£							£

	Trade debtors					21,034		992
	Amounts owed by related undertakings					-		31,250
	Deferred tax asset					-		35,292
	Other debtors					43,464		6,739
	Prepayments and accrued income					4,731		7,884
						69,229		82,157


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					10,855		10,855
	Obligations under finance lease and hire purchase contracts					8,082		8,082
	Trade creditors					51,965		31,862
	Corporation tax payable					33,959		64,684
	Other taxes and social security costs					11,027		7,526
	Director's loan account					398		522
	Accrued expenses					6,185		2,564
	Other loans					11,487		11,487
	Other creditors					23,326		22,250
						157,284		159,832


7	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					812		10,812
	Obligations under finance lease and hire purchase contracts					38,209		46,321
	Other loans					6,701		18,188
						45,722		75,321

	The bank loan was received under the Government-Backed 'Bounce Back Loan' scheme. There was no interest payable nor capital repayments due for the first year. Over the remaining term, the loan is repayable by equal instalments with an interest rate of 2.5%. There are no penalties on early redemption.

8	Related party transactions

	Mr P Charalambous, the shareholding director received dividends in the sum of £49,000 during the period (2024: £32,000).


9	Controlling party

	The company is controlled by Mr P Charalambous by virtue of his directorship, shareholdings and day to day running of the business.


10	Other information

	FIRESTAR TOYS LTD is a private company limited by shares and incorporated in England. Its registered office is:
	Devonshire House
	582 Honeypot Lane
	Stanmore
	Middlesex
	HA7 1JS