REGISTERED NUMBER: |
Kinsella Holdings Limited |
Unaudited Financial Statements |
for the Period 1 April 2022 to 30 March 2023 |
REGISTERED NUMBER: |
Kinsella Holdings Limited |
Unaudited Financial Statements |
for the Period 1 April 2022 to 30 March 2023 |
Kinsella Holdings Limited (Registered number: 11254290) |
Contents of the Financial Statements |
for the Period 1 April 2022 to 30 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Kinsella Holdings Limited |
Company Information |
for the Period 1 April 2022 to 30 March 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
31 Sackville Street |
Manchester |
M1 3LZ |
Kinsella Holdings Limited (Registered number: 11254290) |
Balance Sheet |
30 March 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | 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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Kinsella Holdings Limited (Registered number: 11254290) |
Notes to the Financial Statements |
for the Period 1 April 2022 to 30 March 2023 |
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: |
31 Sackville Street |
Manchester |
M1 3LZ |
England |
2. | 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). |
3. | 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. |
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. |
TAX |
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. |
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. |
BUSINESS COMBINATIONS |
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably. |
INVESTMENTS |
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. |
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable. |
Kinsella Holdings Limited (Registered number: 11254290) |
Notes to the Financial Statements - continued |
for the Period 1 April 2022 to 30 March 2023 |
TRADE DEBTORS |
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. |
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. |
TRADE CREDITORS |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. |
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. |
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. |
DIVIDENDS |
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
5. | INVESTMENTS |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
and 30 March 2023 |
NET BOOK VALUE |
At 30 March 2023 |
At 31 March 2022 |
Kinsella Holdings Limited (Registered number: 11254290) |
Notes to the Financial Statements - continued |
for the Period 1 April 2022 to 30 March 2023 |
5. | INVESTMENTS - continued |
Details of the investments in which the company holds 20% or more of the nominal value of any class of |
share capital are as follows: |
Undertaking | Registeredoffice | Holding | Proportion of votingrights and shares held |
Subsidiary undertakings | 2023 | 2022 |
Re-Enhance Limited | England | Ordinary | 49% | 49% |
EM Pharma Limited | England | Ordinary | 100% | 100% |
Kinsella Aesthetics Limited | England | Ordinary | 100% | 100% |
Kinsella Training Limited | England | Ordinary | 100% | 100% |
Re-Enhance Cosmetics Limited | England | Ordinary | 90% | 90% |
BioID Hormones Limited | England | Ordinary | 100% | 100% |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary share | 1 | 110 | 110 |
9. | RELATED PARTY TRANSACTIONS |
The company was under the control of Dr M Kinsella, who holds 68% of the company's share capital. |
At the balance sheet date, the amounts owed to the directors of the company stood at £9,461 (2022: £16,671). |
Dividends paid to shareholders during the year amounted to £362,000 (2022: £354,000). |
At the balance sheet date, the amount owing to Re-Enhance Ltd stood at £329,487 (2022: £202,741). |
There was an additional £258,874 owing from EM Pharma Ltd (2022: £148,525), as well as a balance of £178,800 (2022: £211,800) owing from Kinsella Aesthetics Limited. |
Dividend income from subsidiaries during the year amounted to £258,000 (2022: £321,000). |
Management charge income from subsidiaries during the year amounted to £80,000 (2022: £80,000). |
Kinsella Holdings Limited (Registered number: 11254290) |
Notes to the Financial Statements - continued |
for the Period 1 April 2022 to 30 March 2023 |
10. | DIVIDENDS |
2023(£ | ) | 2022(£ | ) |
Final dividend of £3,290.91 (2022 - £3,218.18) per each ordinary share | 362,000 | 354,000 |