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Registration number: 12370768

Kickfire Group Ltd.

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Kickfire Group Ltd.

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

Kickfire Group Ltd.

(Registration number: 12370768)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

1,224

255

Current assets

 

Debtors

5

2,365

21,590

Cash at bank and in hand

 

7,367

5,173

 

9,732

26,763

Creditors: Amounts falling due within one year

6

(3,145)

(11,718)

Net current assets

 

6,587

15,045

Total assets less current liabilities

 

7,811

15,300

Provisions for liabilities

(257)

-

Net assets

 

7,554

15,300

Capital and reserves

 

Called up share capital

850

850

Retained earnings

6,704

14,450

Shareholders' funds

 

7,554

15,300

 

Kickfire Group Ltd.

(Registration number: 12370768)
Balance Sheet as at 31 December 2021

For the financial year ending 31 December 2021 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 13 September 2022 and signed on its behalf by:
 

.........................................
M Germany
Director

 

Kickfire Group Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 11, West Mills Yard
Kennet Road
Newbury
Berkshire
RG14 5LP

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of software development services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Kickfire Group Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Asset class

Depreciation method and rate

Office Equipment

25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 2).

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 January 2021

272

272

Additions

1,099

1,099

At 31 December 2021

1,371

1,371

Depreciation

At 1 January 2021

17

17

Charge for the year

130

130

At 31 December 2021

147

147

Carrying amount

At 31 December 2021

1,224

1,224

At 31 December 2020

255

255

 

Kickfire Group Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

5

Debtors

Current

2021
£

2020
£

Trade debtors

-

19,700

Other debtors

2,365

1,890

 

2,365

21,590

6

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Trade creditors

1,022

7,588

Taxation and social security

1,298

3,330

Other creditors

825

800

3,145

11,718

7

Related party transactions

Summary of transactions with other related parties

TEEC Limited (a company with common directors). During the year the company made sales of £nil (2020: £29,954) to TEEC Limited. At the balance sheet date the amount due from TEEC Limited was £nil (2020: £19,700).