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Unaudited Financial Statements |
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for the Period 1 August 2016 to 31 January 2018 |
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for |
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Young Ideas Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period 1 August 2016 to 31 January 2018 |
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for |
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Young Ideas Limited |
Young Ideas Limited (Registered number: 01703991) |
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Contents of the Financial Statements |
for the Period 1 August 2016 to 31 January 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Young Ideas Limited |
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Company Information |
for the Period 1 August 2016 to 31 January 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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8 St John Street |
Manchester |
M3 4DU |
Young Ideas Limited (Registered number: 01703991) |
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Balance Sheet |
31 January 2018 |
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31.1.18 | 31.7.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Other reserves |
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Retained earnings |
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The directors acknowledge their responsibilities for: |
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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. |
Young Ideas Limited (Registered number: 01703991) |
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Balance Sheet - continued |
31 January 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Young Ideas Limited (Registered number: 01703991) |
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Notes to the Financial Statements |
for the Period 1 August 2016 to 31 January 2018 |
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1. | STATUTORY INFORMATION |
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Young Ideas Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Goodwill |
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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. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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 period end and that are expected to apply to the reversal of the |
timing difference. |
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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. |
Young Ideas Limited (Registered number: 01703991) |
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Notes to the Financial Statements - continued |
for the Period 1 August 2016 to 31 January 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 August 2016 |
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Additions |
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At 31 January 2018 |
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AMORTISATION |
Charge for period |
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At 31 January 2018 |
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NET BOOK VALUE |
At 31 January 2018 |
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At 31 July 2016 |
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Young Ideas Limited (Registered number: 01703991) |
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Notes to the Financial Statements - continued |
for the Period 1 August 2016 to 31 January 2018 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 August 2016 |
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Additions |
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Disposals | ( |
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At 31 January 2018 |
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DEPRECIATION |
At 1 August 2016 |
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Charge for period |
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Eliminated on disposal | ( |
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At 31 January 2018 |
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NET BOOK VALUE |
At 31 January 2018 |
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At 31 July 2016 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Plant and |
machinery |
etc |
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COST |
Additions |
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At 31 January 2018 |
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DEPRECIATION |
Charge for period |
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At 31 January 2018 |
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NET BOOK VALUE |
At 31 January 2018 |
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6. | DEBTORS |
31.1.18 | 31.7.16 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Prepayments and accrued income |
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Young Ideas Limited (Registered number: 01703991) |
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Notes to the Financial Statements - continued |
for the Period 1 August 2016 to 31 January 2018 |
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6. | DEBTORS - continued |
31.1.18 | 31.7.16 |
£ | £ |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
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Amount due from related party |
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Aggregate amounts |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.18 | 31.7.16 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Social security and other taxes |
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VAT | 155,989 | 124,235 |
Other creditors |
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Accrued expenses |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.1.18 | 31.7.16 |
£ | £ |
Bank loans - 2-5 years |
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Hire purchase contracts |
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Amounts owed to group undertakings |
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Young Ideas Limited (Registered number: 01703991) |
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Notes to the Financial Statements - continued |
for the Period 1 August 2016 to 31 January 2018 |
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9. | RELATED PARTY DISCLOSURES |
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At 31 January 2018 the company was owed the following amounts from companies owned by the directors. |
The amounts are repayable after more than one year and interest free. |
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Little Trekkers Limited £59,167 (2016: £Nil) |
Henmores Lifestyle Limited £676,533 (2016: £87) |
Bibaloo Limited £94,454 (2016: £55,996) |
Boobydoo Limited £1,038,337) (2016: £411,347) |
Spotty Otter Limited £33,000 (2016: £Nil) |
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At 31 January 2018 the company owed £1,329,781(2016: £91,832 debtor) to Young Ideas Group Limited. |
The amount is due after more than one year and is interest free. |
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At 31 January 2018 the company was owed £15,000 (2016: £15,000) from Natures Supplements Limited, a |
company controlled by the directors. |
The amount is interest free and repayable after more than one year. |
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At 31 January 2018 the company was owed £5,171 (2016: £3,815) from Greenman Investments LLP, |
a partnership controlled by the directors. |
The amount is repayable on demand and interest free. |
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Included within trade creditors is an amount of £66,608 (2017: £Nil) due to Greenman Investments LLP. |