31/03/2018
2018-03-31
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No description of principal activities is disclosed
2017-04-01
Sage Accounts Production 18.30 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
06851542
2017-04-01
2018-03-31
06851542
2018-03-31
06851542
2017-03-31
06851542
2016-04-01
2017-03-31
06851542
2017-03-31
06851542
2016-03-31
06851542
core:PlantMachinery
2017-04-01
2018-03-31
06851542
core:FurnitureFittingsToolsEquipment
2017-04-01
2018-03-31
06851542
core:MotorVehicles
2017-04-01
2018-03-31
06851542
core:NetGoodwill
2017-04-01
2018-03-31
06851542
bus:RegisteredOffice
2017-04-01
2018-03-31
06851542
bus:LeadAgentIfApplicable
2017-04-01
2018-03-31
06851542
bus:Director1
2017-04-01
2018-03-31
06851542
bus:Director2
2017-04-01
2018-03-31
06851542
core:NetGoodwill
2017-03-31
06851542
core:IntangibleAssetsOtherThanGoodwill
2017-03-31
06851542
core:NetGoodwill
2018-03-31
06851542
core:IntangibleAssetsOtherThanGoodwill
2018-03-31
06851542
core:PlantMachinery
2017-03-31
06851542
core:FurnitureFittingsToolsEquipment
2017-03-31
06851542
core:MotorVehicles
2017-03-31
06851542
core:PlantMachinery
2018-03-31
06851542
core:FurnitureFittingsToolsEquipment
2018-03-31
06851542
core:MotorVehicles
2018-03-31
06851542
core:WithinOneYear
2018-03-31
06851542
core:WithinOneYear
2017-03-31
06851542
core:RetainedEarningsAccumulatedLosses
2016-04-01
2017-03-31
06851542
core:RetainedEarningsAccumulatedLosses
2017-04-01
2018-03-31
06851542
core:ShareCapital
2018-03-31
06851542
core:ShareCapital
2017-03-31
06851542
core:RetainedEarningsAccumulatedLosses
2018-03-31
06851542
core:RetainedEarningsAccumulatedLosses
2017-03-31
06851542
core:ShareCapital
2016-03-31
06851542
core:RetainedEarningsAccumulatedLosses
2016-03-31
06851542
core:IntangibleAssetsOtherThanGoodwill
2017-04-01
2018-03-31
06851542
core:NetGoodwill
2017-03-31
06851542
core:IntangibleAssetsOtherThanGoodwill
2017-03-31
06851542
core:PlantMachinery
2017-03-31
06851542
core:FurnitureFittingsToolsEquipment
2017-03-31
06851542
core:MotorVehicles
2017-03-31
06851542
bus:Director1
2017-03-31
06851542
bus:Director1
2018-03-31
06851542
bus:Director1
2016-03-31
06851542
bus:Director1
2017-03-31
06851542
bus:Director1
2016-04-01
2017-03-31
06851542
bus:SmallEntities
2017-04-01
2018-03-31
06851542
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2017-04-01
2018-03-31
06851542
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2017-04-01
2018-03-31
06851542
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2018-03-31
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bus:PrivateLimitedCompanyLtd
2017-04-01
2018-03-31
Company registration number:
06851542
Kapow Toys Limited
Trading as
Kapow Toys Limitd
Unaudited filleted financial statements
31 March 2018
Kapow Toys Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Kapow Toys Limited
Directors and other information
|
|
|
|
Directors
|
Mr A Rose Andrew Rose
|
|
|
Mrs C Rose Charlotte Rose
|
|
|
|
|
|
|
|
Company number
|
06851542
|
|
|
|
|
|
|
|
Registered office
|
DC Business Centre
|
|
|
10 Charles Wood Road
|
|
|
Rash's Green
|
|
|
Dereham
|
|
|
NR19 1SX
|
|
|
|
|
|
|
|
Business address
|
Yaxham Road Industrial Estate
|
|
|
Greens Road
|
|
|
Dereham
|
|
|
Norfolk
|
|
|
NR20 3TG
|
|
|
|
|
|
|
|
Accountants
|
Foster Knight
|
|
|
DC Business Centre
|
|
|
10 Charles Wood Road
|
|
|
Dereham
|
|
|
Norfolk
|
|
|
NR19 1SX
|
|
|
|
Kapow Toys Limited
Statement of financial position
31 March 2018
|
|
|
2018
|
|
|
|
2017
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Intangible assets
|
|
5
|
5,974
|
|
|
|
7,701
|
|
|
Tangible assets
|
|
6
|
14,236
|
|
|
|
18,783
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
20,210
|
|
|
|
26,484
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Stocks
|
|
|
330,000
|
|
|
|
175,000
|
|
|
Debtors
|
|
7
|
1,845
|
|
|
|
1,979
|
|
|
Cash at bank and in hand
|
|
|
5,719
|
|
|
|
3,348
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
337,564
|
|
|
|
180,327
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
8
|
(
311,833)
|
|
|
|
(
169,010)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
25,731
|
|
|
|
11,317
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
45,941
|
|
|
|
37,801
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
(
2,705)
|
|
|
|
(
3,756)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
43,236
|
|
|
|
34,045
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
|
|
|
100
|
|
|
|
100
|
Profit and loss account
|
|
|
|
|
43,136
|
|
|
|
33,945
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
43,236
|
|
|
|
34,045
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
31 December 2018
, and are signed on behalf of the board by:
Mr A Rose Andrew Rose
Mrs C Rose Charlotte Rose
Director
Director
Company registration number:
06851542
Kapow Toys Limited
Statement of changes in equity
Year ended 31 March 2018
|
|
Called up share capital
|
|
Profit and loss account
|
Total
|
|
|
|
|
|
|
|
£
|
|
£
|
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 April 2016
|
|
100
|
|
16,586
|
16,686
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year
|
|
|
|
27,359
|
27,359
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
Total comprehensive income for the year
|
|
-
|
|
27,359
|
27,359
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable
|
|
|
|
(
10,000)
|
(
10,000)
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
Total investments by and distributions to owners
|
|
-
|
|
(
10,000)
|
(
10,000)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
At 31 March 2017 and 1 April 2017
|
|
100
|
|
33,945
|
34,045
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year
|
|
|
|
39,191
|
39,191
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
Total comprehensive income for the year
|
|
-
|
|
39,191
|
39,191
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable
|
|
|
|
(
30,000)
|
(
30,000)
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
Total investments by and distributions to owners
|
|
-
|
|
(
30,000)
|
(
30,000)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
At 31 March 2018
|
|
100
|
|
43,136
|
43,236
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kapow Toys Limited
Notes to the financial statements
Year ended 31 March 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is DC Business Centre, 10 Charles Wood Road, Rash's Green, Dereham, NR19 1SX.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
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.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
Goodwill |
- |
10 years straight line
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery
|
-
|
25 %
|
reducing balance
|
|
Fittings fixtures and equipment
|
-
|
33 %
|
straight line
|
|
Motor vehicles
|
-
|
25 %
|
reducing balance
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2017:
3
).
5.
Intangible assets
|
|
Goodwill
|
Other intangible assets
|
Total
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 1 April 2017 and 31 March 2018
|
11,196
|
6,069
|
17,265
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
Amortisation
|
|
|
|
|
|
|
|
At 1 April 2017
|
8,958
|
606
|
9,564
|
|
|
|
|
Charge for the year
|
1,120
|
607
|
1,727
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
At 31 March 2018
|
10,078
|
1,213
|
11,291
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 31 March 2018
|
1,118
|
4,856
|
5,974
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
At 31 March 2017
|
2,238
|
5,463
|
7,701
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Plant and machinery
|
Fixtures, fittings and equipment
|
Motor vehicles
|
Total
|
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 April 2017
|
1,624
|
2,843
|
22,682
|
27,149
|
|
|
|
|
Additions
|
292
|
-
|
-
|
292
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 31 March 2018
|
1,916
|
2,843
|
22,682
|
27,441
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 April 2017
|
1,564
|
1,132
|
5,670
|
8,366
|
|
|
|
|
Charge for the year
|
157
|
429
|
4,253
|
4,839
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 31 March 2018
|
1,721
|
1,561
|
9,923
|
13,205
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 March 2018
|
195
|
1,282
|
12,759
|
14,236
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 31 March 2017
|
60
|
1,711
|
17,012
|
18,783
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2018
|
2017
|
|
|
|
£
|
£
|
|
Other debtors
|
|
1,845
|
1,979
|
|
|
|
_______
|
_______
|
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2018
|
2017
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
127,962
|
35,968
|
|
Trade creditors
|
|
91,258
|
31,000
|
|
Corporation tax
|
|
11,873
|
1,845
|
|
Social security and other taxes
|
|
36,794
|
29,805
|
|
Other creditors
|
|
43,946
|
70,392
|
|
|
|
_______
|
_______
|
|
|
|
311,833
|
169,010
|
|
|
|
_______
|
_______
|
|
|
|
|
|
9.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Amounts repaid
|
Balance o/standing
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
Mr A Rose Andrew Rose
|
(
49,003)
|
(
30,500)
|
51,143
|
(
28,360)
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
2017
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Amounts repaid
|
Balance o/standing
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
Mr A Rose Andrew Rose
|
4,767
|
3,482
|
(
57,252)
|
(
49,003)
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
10.
Controlling party
The Directors held 100% of the share capital during the year and therefore had ultimate control.