REGISTERED NUMBER: SC049931 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

WONDERLAND (TOYS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Barton

I A L Reid

SECRETARY:

I A L Reid

REGISTERED OFFICE:

97 Lothian Road

Edinburgh

EH3 9AN

REGISTERED NUMBER:

SC049931 (Scotland)

ACCOUNTANTS:

Haines Watts

Business Advisors and Accountants

Q Court

3 Quality Street

Edinburgh

EH4 5BP

FIXED ASSETS

Intangible assets

4

5,423

38,973

Tangible assets

5

695,473

685,359

Investments

6

4,000

-

704,896

724,332

CURRENT ASSETS

Stocks

199,642

220,414

Debtors

7

31,338

18,575

Investments

8

-

4,000

Cash and cash equivalents

136,441

273,617

367,421

516,606

CREDITORS

Amounts falling due within one year

9

(714,563

)

(592,274

)

NET CURRENT LIABILITIES

(347,142

)

(75,668

)

TOTAL ASSETS LESS CURRENT LIABILITIES

357,754

648,664

PROVISIONS FOR LIABILITIES

10

(3,659

)

(8,240

)

NET ASSETS

354,095

640,424

CAPITAL AND RESERVES

Called up share capital

6,000

6,000

Retained earnings

348,095

634,424

SHAREHOLDERS' FUNDS

354,095

640,424

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2025 and were signed on its behalf by:

I A L Reid - Director

1.	STATUTORY INFORMATION

Wonderland (Toys) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At the period end the company had net current liabilities of £347,142 (2024 - £75,668). The company continues to be supported by related parties who provide funding for operations. The operational funding support is expected to continue for a period of at least one year after the date of signing the financial statements.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable for the sale of online and retail of models and toys, net of discounts and value added taxes. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

INTANGIBLE ASSETS

Other intangible assets acquired are stated at cost less accumulated amortisation and impairment losses. Subsequent expenditure on capitalised intangible assets is capitalised only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure is expensed as incurred.

Amortisation is charged on a straight-line basis over the estimated useful lives of intangible assets. Other intangible assets are amortised from the date they are available for use. The estimated useful lives are as follows:

Other intangible assets costs over estimated lifespan, currently 3 years.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Heritable property

-

Nil

Fixtures, fittings and equipment

-

20% per annum on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended. The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

INVESTMENTS

Investments are measured at fair value except for those investments that are not publicly traded and whose fair value cannot otherwise be measured reliably which are recognised at cost less impairment until a reliable measure of fair value becomes available.

IMPAIRMENT OF ASSETS

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after deducting a 10% allowance for obsolete and slow moving items.

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

FOREIGN CURRENCIES

Transactions in foreign currencies are initially recorded in the entity’s functional currency by applying the spot exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Website

£

COST

At 1 February 2024

and 31 January 2025

100,650

AMORTISATION

At 1 February 2024

61,677

Amortisation for year

33,550

At 31 January 2025

95,227

NET BOOK VALUE

At 31 January 2025

5,423

At 31 January 2024

38,973

5.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Heritable

and

property

equipment

Totals

£

£

£

COST

At 1 February 2024

680,964

92,318

773,282

Additions

-

14,582

14,582

Disposals

-

(23,737

)

(23,737

)

At 31 January 2025

680,964

83,163

764,127

DEPRECIATION

At 1 February 2024

-

87,923

87,923

Charge for year

-

4,468

4,468

Eliminated on disposal

-

(23,737

)

(23,737

)

At 31 January 2025

-

68,654

68,654

NET BOOK VALUE

At 31 January 2025

680,964

14,509

695,473

At 31 January 2024

680,964

4,395

685,359

Tangible fixed assets with a carrying value of £695,473 (2024 - £685,359) are pledged as security for the company's debt.

6.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

Reclassification/transfer

4,000

At 31 January 2025

4,000

NET BOOK VALUE

At 31 January 2025

4,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

31,338

18,575

8.	CURRENT ASSET INVESTMENTS

2025

2024

£

£

Unlisted investments

-

4,000

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

17,309

51,565

Taxation and social security

80,540

83,443

Other creditors

616,714

457,266

714,563

592,274

Bank of Scotland PLC hold charges which cover all of the assets owned by the company.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

3,787

8,240

Other timing differences

(128

)

-

3,659

8,240

Deferred

tax

£

Balance at 1 February 2024

8,240

Accelerated capital allowances

(4,453

)

Other timing differences

(128

)

Balance at 31 January 2025

3,659

The reversal of deferred tax assets expected in 2026 is £128. This is expected to arise due to changes in the defined contribution pension liability.

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.