Teddy Bears Of Witney Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03809042 (England and Wales)

TEDDY BEARS OF WITNEY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

I A Pout

I A Pout

SECRETARY:

Mrs J I Parr

REGISTERED OFFICE:

99 High Street

Witney

Oxfordshire

OX28 6HY

REGISTERED NUMBER:

03809042 (England and Wales)

ACCOUNTANTS:

Mercer Lewin Ltd

Chartered Accountants

41 Cornmarket St

OXFORD

OX1 3HA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

234,089

240,373

234,089

240,373

CURRENT ASSETS

Stocks

243,671

275,887

Debtors

6

19,347

549

Investments

7

-

26,465

Cash in hand

1,411

1,234

264,429

304,135

CREDITORS

Amounts falling due within one year

8

32,167

56,128

NET CURRENT ASSETS

232,262

248,007

TOTAL ASSETS LESS CURRENT LIABILITIES

466,351

488,380

PROVISIONS FOR LIABILITIES

531

836

NET ASSETS

465,820

487,544

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

465,620

487,344

465,820

487,544

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 23 October 2019 and were signed on its behalf by:

I A Pout - Director

1.	STATUTORY INFORMATION

Teddy Bears Of Witney Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The Financial statements have been prepared on the historical cost basis, as modified by the revaluation

of certain financial assets and liabilities and investment properties measured at fair value through profit

or loss.

OLD BEARS AND MEMORABILIA

Old bears and memorabilia are held for display and publicity purposes. No depreciation is charged as, in

the opinion of the director, the residual value of these assets is not significantly less than their cost, and

any depreciation would not therefore be material.

SIGNIFICANT JUDGEMENTS AND ESTIMATES

The preparation of the financial statements requires management to make judgements, estimates and

assumptions that affect the amounts reported. These estimates and judgements are continually reviewed

and are based on experience and other factors, including expectations of future events that are believed

to be reasonable under the circumstances.

There are no judgements that are deemed to have had a significant effect on amounts recognised in the

financial statements.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business has been amortised

evenly over its estimated useful life.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at

cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS

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

Plant and machinery

-

15% on cost

Computer equipment

-

33% on cost

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete

and slow moving items.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

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.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

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 8 (2018 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2018

and 31 January 2019

95,000

AMORTISATION

At 1 February 2018

and 31 January 2019

95,000

NET BOOK VALUE

At 31 January 2019

-

At 31 January 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

Old bears

Computer

machinery

& memorabilia

equipment

Totals

£

£

£

£

COST

At 1 February 2018

28,330

235,661

14,181

278,172

Disposals

-

(4,621

)

-

(4,621

)

At 31 January 2019

28,330

231,040

14,181

273,551

DEPRECIATION

At 1 February 2018

24,771

-

13,028

37,799

Charge for year

778

-

885

1,663

At 31 January 2019

25,549

-

13,913

39,462

NET BOOK VALUE

At 31 January 2019

2,781

231,040

268

234,089

At 31 January 2018

3,559

235,661

1,153

240,373

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

-

460

Other debtors

19,347

89

19,347

549

7.	CURRENT ASSET INVESTMENTS

2019

2018

£

£

Other

-

26,465

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

11,529

10,718

Trade creditors

343

17,668

Taxation and social security

16,936

24,084

Other creditors

3,359

3,658

32,167

56,128

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the Registrar

of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Teddy Bears Of Witney Limited for the year ended 31 January 2019 which comprise

the Income Statement, Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Teddy Bears Of Witney Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Teddy Bears Of Witney Limited and state those matters that we have agreed to state to the Board of Directors of Teddy Bears Of Witney Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Teddy Bears Of Witney Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Teddy Bears Of Witney Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Teddy Bears Of Witney Limited. You consider that Teddy Bears Of Witney Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Teddy Bears Of Witney Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Mercer Lewin Ltd

Chartered Accountants

41 Cornmarket St

OXFORD

OX1 3HA

Date: .............................................