The Magic Toy Shop Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06817660

Unaudited Financial Statements

for the Year Ended 31 March 2022

for

The Magic Toy Shop Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Directors:

A Ibrishimov

Ms E Shishkova

Mrs S Ibrishimova

Secretary:

Mrs S Ibrishimova

Registered office:

Unit 6 Edenbridge Trade Centre

Hever Road

Edenbridge

Kent

TN8 5EA

Registered number:

06817660

Assets

Fixed assets

Property, plant and equipment

4

181,869

177,224

Investments

5

670,600

670,600

852,469

847,824

Current assets

Inventories

2,550,006

1,321,856

Debtors

6

622,958

953,046

Cash at bank and in hand

889,856

1,561,386

4,062,820

3,836,288

4,915,289

4,684,112

Capital, reserves and liabilities

Capital and reserves

Called up share capital

150

150

Retained earnings

3,257,797

3,223,285

3,257,947

3,223,435

Creditors

7

1,657,342

1,460,677

4,915,289

4,684,112

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 12 December 2022 and were signed on its behalf by:

Mrs S Ibrishimova - Director

1.	Statutory information

The Magic Toy Shop Ltd is a private company, limited by shares , registered in Not specified/Other. 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

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.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc

-

25% on reducing balance

Stocks

Inventories 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 18 (2021 - 9 ) .

4.	Property, plant and equipment

Plant and

machinery

etc

£

Cost

At 1 April 2021

238,262

Additions

4,645

At 31 March 2022

242,907

Depreciation

At 1 April 2021

and 31 March 2022

61,038

Net book value

At 31 March 2022

181,869

At 31 March 2021

177,224

5.	Fixed asset investments

Other

investments

£

Cost

At 1 April 2021

and 31 March 2022

670,600

Net book value

At 31 March 2022

670,600

At 31 March 2021

670,600

6.

Debtors: amounts falling due within one year

31.3.22

31.3.21

£

£

Trade debtors

194,696

223,629

Other debtors

428,262

729,417

622,958

953,046

7.

Creditors: amounts falling due within one year

31.3.22

31.3.21

£

£

Trade creditors

1,560,018

1,156,864

Taxation and social security

60,462

266,951

Other creditors

36,862

36,862

1,657,342

1,460,677