ACCOUNTS - Final Accounts

Registered number: 07697636

EXTREME TOYS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025


EXTREME TOYS LIMITED REGISTERED NUMBER:07697636

BALANCE SHEET

AS AT 31 JULY 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		168		133
			168		133
Current assets
Stocks		3,222		10,757
Debtors: amounts falling due within one year	5	82,365		148,855
Cash at bank and in hand		65,277		126,955
		150,864		286,567
Creditors: amounts falling due within one year	6	(15,218)		(27,633)
Net current assets			135,646		258,934
Total assets less current liabilities			135,814		259,067
Creditors: amounts falling due after more than one year	7		(24,580)		(24,886)

Net assets			111,234		234,181

Capital and reserves
Called up share capital	8	100	100
Profit and loss account		111,134	234,081
		111,234	234,181

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EXTREME TOYS LIMITED REGISTERED NUMBER:07697636

BALANCE SHEET (CONTINUED)

AS AT 31 JULY 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

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

V Kerswell

Director

Date: 31 July 2026

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EXTREME TOYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

1.	General information

Extreme Toys Limited (company number 07697636) is a private company limited by shares and incorporated in England. Its registered office is 12 Deer Park Road, South Wimbledon, London, SW19 3FB.

The financial statements are presented in GBP, which is the functional currency of the company.

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 requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

During the year ended 31 July 2025 the Company suffered a loss before tax of £142,451 (2024: £163,527).

The net assets are positive (£91,630) and the directors are comfortable that the company will remain in existence for the foreseeable future and the going concern basis is applicable for the preparation of the financial statements.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company 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 Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company 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 Company 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.

2.4

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.

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EXTREME TOYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.Accounting policies (continued)

2.4

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery	-	25% on reducing balance
Office equipment	-	25% on reducing balance
Computer equipment	-	25% on reducing balance
Technical equipment	-	25% on reducing balance

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.

2.5

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 first in, first out 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.

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.6

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.

2.7

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.

2.8

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.

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EXTREME TOYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.Accounting policies (continued)

2.9

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 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'.

3.	Employees
	The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

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EXTREME TOYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

4.	Tangible fixed assets

	Plant and machinery	Office equipment	Computer equipment	Technical equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 August 2024	40,833	30,730	12,738	23,570	107,871
Additions	-	-	279	-	279
At 31 July 2025	40,833	30,730	13,017	23,570	108,150
Depreciation
At 1 August 2024	40,833	30,730	12,606	23,570	107,739
Charge for the year on owned assets	-	-	243	-	243
At 31 July 2025	40,833	30,730	12,849	23,570	107,982
Net book value
At 31 July 2025	-	-	168	-	168
At 31 July 2024	-	-	133	-	133

Debtors

					2025	2024
					£	£


Trade debtors	13,800	13,800
Other debtors	68,565	135,055
	82,365	148,855

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EXTREME TOYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

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

Bank loans	5,822	10,637
Trade creditors	-	1,844
Other taxation and social security	3,546	3,106
Other creditors	-	3,596
Accruals and deferred income	5,850	8,450
	15,218	27,633

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

	Bank loan	24,580	24,886

8.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

100 (2024 - 100) Ordinary shares of £1.00 each	100	100

9.	Controlling party

The controlling party is V Kerswell by virtue of his majority shareholding in the company.

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