Hmmm, good question - I need to restock mine. No 1 year old in this house yet but this is what we have been known to use on a reasonably regular basis:

bandaids/sticking plasters - variety of sizes or the sort you cut off the roll as you need it
antiseptic cream/wipes
hot/cold packs and covers
compression bandages
sports strapping tape
eye-bath
saline solution
scissors
tweezers
cotton wool buds
cotton wadding
wound dressing pads
triangular bandage (at least 2)
panadol/nurofen
calamine lotion
aloe gel
insect bite cream
current list of phone numbers - healthdirect, poisons info, gp and dentist.