Registered number
13423762
Kaleidoscope Investments (NW) Ltd
Filleted Accounts
31 May 2023
Kaleidoscope Investments (NW) Ltd
Registered number: 13423762
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 284,804 284,804
Current assets
Cash at bank and in hand 12,603 5,568
Creditors: amounts falling due within one year 4 (87,760) (82,420)
Net current liabilities (75,157) (76,852)
Total assets less current liabilities 209,647 207,952
Creditors: amounts falling due after more than one year 5 (205,872) (205,872)
Net assets 3,775 2,080
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,675 1,980
Shareholders' funds 3,775 2,080
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Clinch
Director
Approved by the board on 21 February 2024
Kaleidoscope Investments (NW) Ltd
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Not provided
Leasehold land and buildings Not provided
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 June 2022 284,804
At 31 May 2023 284,804
Depreciation
At 31 May 2023 -
Net book value
At 31 May 2023 284,804
At 31 May 2022 284,804
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,116 1,080
Taxation and social security costs 397 464
Other creditors 86,247 80,876
87,760 82,420
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 205,872 205,872
6 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 205,872 205,872
The properties act as security for the loans.
7 Controlling party
The controlling parties are P Clinch (director) and J Clinch (director) by virtue of their 100% ownership of the issued share capital. The shares are split equally between both directors.
8 Other information
Kaleidoscope Investments (NW) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
2 Appleyard Close
Salford
M27 8AZ
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