Kids Stuff Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04869798 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2020

for

KIDS STUFF LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J O Hartfield

Mrs D A Hartfield

Mrs R C Douglas

S O C Hartfield

REGISTERED OFFICE:

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

REGISTERED NUMBER:

04869798 (England and Wales)

ACCOUNTANTS:

Plus Accounting

Chartered Accountants

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

FIXED ASSETS

Tangible assets

4

139,753

182,528

Investments

5

4,000

4,000

143,753

186,528

CURRENT ASSETS

Stocks

956,662

1,002,914

Debtors

6

155,529

163,405

Cash at bank and in hand

356,899

473,239

1,469,090

1,639,558

CREDITORS

Amounts falling due within one year

7

(814,873

)

(982,951

)

NET CURRENT ASSETS

654,217

656,607

TOTAL ASSETS LESS CURRENT LIABILITIES

797,970

843,135

PROVISIONS FOR LIABILITIES

9

(20,302

)

(21,631

)

NET ASSETS

777,668

821,504

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

776,668

820,504

SHAREHOLDERS' FUNDS

777,668

821,504

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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 and authorised for issue on 9 July 2020 and were signed on its behalf by:

J O Hartfield - Director

1.	STATUTORY INFORMATION

Kids Stuff Limited is a private company, limited by shares, registered in England and Wales. The company's

registered number, registered office address and business address can be found on the Company Information

page.

The presentational 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.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates and

these estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates

are recognised in the period in which the estimate is revised if the revision affects only that period, or in the

period of the revision and future periods if the revision affects both current and future periods.

The items in the financial statements where these judgements and estimates have been made include the useful

economic life of tangible fixed assets,depreciation of these assets, stock obsolescence, provisions and the

recoverability of debtors.

Turnover

Turnover represents the fair value of consideration received or receivable net of VAT and trade discounts.

Revenue from the sale of goods and services is recognised at the point of sale or despatch.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating

as intended by management.

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

life.

Leasehold improvements

-

over the period of the lease

Plant and machinery

-

25% on reducing balance

Fixtures, fittings and equipment

-

straight line over 10 years

Motor vehicles

-

25% on reducing balance

Computer equipment

-

straight line over 3 years

Impairment policy

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine

whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the

recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where

it is not possible to estimate the recoverable amount of an asset, the company estimates the recoverable amount

of the cash-generating unit to which the asset belongs.

Stocks

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

moving items.

Financial instruments

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 entity after deducting all of its financial liabilities.

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 between the carrying amounts of assets and

liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the

extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset

to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which

the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or

substantively enacted by the end of the reporting period.

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.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in existence for

the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its

financial statements.

Fixed asset investments

Investments in shares are included at fair value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 67 (2019 - 70 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Leasehold

Plant and

and

improvements

machinery

equipment

£

£

£

COST

At 1 February 2019

101,545

38,398

414,370

Additions

-

-

-

At 31 January 2020

101,545

38,398

414,370

DEPRECIATION

At 1 February 2019

53,384

24,963

309,215

Charge for year

21,098

3,359

16,583

At 31 January 2020

74,482

28,322

325,798

NET BOOK VALUE

At 31 January 2020

27,063

10,076

88,572

At 31 January 2019

48,161

13,435

105,155

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 February 2019

40,455

33,891

628,659

Additions

-

8,995

8,995

At 31 January 2020

40,455

42,886

637,654

DEPRECIATION

At 1 February 2019

30,554

28,015

446,131

Charge for year

2,475

8,255

51,770

At 31 January 2020

33,029

36,270

497,901

NET BOOK VALUE

At 31 January 2020

7,426

6,616

139,753

At 31 January 2019

9,901

5,876

182,528

5.	FIXED ASSET INVESTMENTS

Toymaster

investment

£

COST

At 1 February 2019

and 31 January 2020

4,000

NET BOOK VALUE

At 31 January 2020

4,000

At 31 January 2019

4,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

8,378

2,357

Amounts owed by group undertakings

11,351

11,210

Other debtors

135,800

149,838

155,529

163,405

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

502,026

630,628

Taxation and social security

236,723

257,942

Other creditors

76,124

94,381

814,873

982,951

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2020

2019

£

£

Within one year

640,158

688,406

Between one and five years

1,709,148

2,019,907

In more than five years

452,790

782,189

2,802,096

3,490,502

9.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

20,302

21,631

Deferred

tax

£

Balance at 1 February 2019

21,631

Accelerated capital allowances

(1,329

)

Balance at 31 January 2020

20,302

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

950

Ordinary A

£1

950

950

50

Ordinary B

£1

50

50

1,000

1,000

11.	OTHER FINANCIAL COMMITMENTS

Lloyds Bank has a fixed and floating charge over the company assets. This is in relation to a cross guarantee on a

mortgage acquired to purchase an investment property owned by Hartfield Holdings Limited.

12.	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.

The company is wholly owned by Hartfield Holdings Ltd which in turn is controlled by the directors, J O

Hartfield and Mrs D A Hartfield.