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Registration number: 12045024

Kido Education Limited

Annual Report and Financial Statements

for the Year Ended 30 June 2023

 

Kido Education Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 10

 

Kido Education Limited

Company Information

Directors

Mr A Gupta

Mr PE Sachs

Registered office

Oakmoore Court
11c Kingswood Road
Droitwich Spa
Worcestershire
WR9 0QH

Auditors

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Kido Education Limited

(Registration number: 12045024)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

1,318,057

1,537,734

Tangible assets

5

571

951

Investments

6

263

263

 

1,318,891

1,538,948

Current assets

 

Debtors

7

2,014,907

154,381

Cash at bank and in hand

 

6,097

42,570

 

2,021,004

196,951

Creditors: Amounts falling due within one year

8

(5,156,458)

(3,765,012)

Net current liabilities

 

(3,135,454)

(3,568,061)

Total assets less current liabilities

 

(1,816,563)

(2,029,113)

Creditors: Amounts falling due after more than one year

8

(17,500)

(29,167)

Net liabilities

 

(1,834,063)

(2,058,280)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(1,834,064)

(2,058,281)

Shareholders' deficit

 

(1,834,063)

(2,058,280)

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 January 2024 and signed on its behalf by:
 

.........................................
Mr A Gupta
Director

.........................................
Mr PE Sachs
Director

 
 

Kido Education Limited

Notes to the Financial Statements for the Year Ended 30 June 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:
Oakmoore Court
11c Kingswood Road
Droitwich Spa
Worcestershire
WR9 0QH
England

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements have been rounded to the neared £.

Going concern

The directors have reviewed the appropriateness of presenting the financial statements using the going concern principle.

Kido Education Limited owns the Intellectual Property Rights of the Kido Group. Presently, it has licensing agreements with Kido Schools UK Limited and Kido Education US LLC to conduct business operations in the UK and US regions, respectively.

Kido Education Singapore Pte Ltd, a subsidiary of Kido Education Limited, plans to transfer the licensing agreement of China to Kido Education Limited during the fiscal year 2023-2024. This move is expected to bring in substantial revenue streams for Kido Education Limited.

Having considered the forecast revenues and the company's ongoing operational expenditure together the company's directors have concluded that it is appropriate that these financial statements are prepared and presented using the going concern principle.

 

Kido Education Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 6 March 2024 was Benjamin Powell MSci ACA, who signed for and on behalf of Ballards LLP.

.........................................

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates is revised where the revision affacts only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises of franchise fees which are recognised over the life of the franchise agreement. Initial set up fees are recognised in full when the franchise agreement is signed.

Government grants

The accounting policy adopted for grants is the accruals model.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of histroical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises 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.

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:

 

Kido Education Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

Asset class

Depreciation method and rate

Leasehold improvments

20% on a straight line basis

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.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intellectual property

Straight line over 10 years

Investments

Investments in subsidiaries are stated at cost.

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.

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.

 

Kido Education Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 10).

 

Kido Education Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

4

Intangible assets

Intellectual Property
 £

Total
£

Cost or valuation

At 1 July 2022

2,196,762

2,196,762

At 30 June 2023

2,196,762

2,196,762

Amortisation

At 1 July 2022

659,028

659,028

Amortisation charge

219,677

219,677

At 30 June 2023

878,705

878,705

Carrying amount

At 30 June 2023

1,318,057

1,318,057

At 30 June 2022

1,537,734

1,537,734

5

Tangible assets

Leasehold improvements
£

Total
£

Cost or valuation

At 1 July 2022

1,902

1,902

At 30 June 2023

1,902

1,902

Depreciation

At 1 July 2022

951

951

Charge for the year

380

380

At 30 June 2023

1,331

1,331

Carrying amount

At 30 June 2023

571

571

At 30 June 2022

951

951

Included within the net book value of leasehold improvements above is £571 (2022 - £951) in respect of short leasehold land and buildings.
 

 

Kido Education Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

6

Investments

2023
£

2022
£

Investments in subsidiaries

263

263

Subsidiaries

£

Cost or valuation

At 1 July 2022

263

Carrying amount

At 30 June 2023

263

At 30 June 2022

263

Details of undertakings

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

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Kido Americas Ltd

Oakmoore Court, 11c Kingswood Road, Hampton Lovett, Droitwich, Worcestershire, WR9 0QH

England

Ordinary

100%

100%

Kido Education Singapore

30 Raffles Place, 23-01, Oxley, Raffles 048622

Singapore

Ordinary

100%

100%

Kido Education US LLC

United States

Ordinary

100%

100%

 

Kido Education Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

Subsidiary undertakings

Kido Americas Ltd

The principal activity of Kido Americas Ltd is Child day-care activities.

Kido Education Singapore

The principal activity of Kido Education Singapore is Leasing of Non-financial intangible assets.

Kido Education US LLC

The principal activity of Kido Education US LLC is Leasing of Non-financial intangible assets.

7

Debtors

Note

2023
£

2022
£

Owed by related parties

9

2,013,317

153,923

Other debtors

 

1,590

458

Total current trade and other debtors

 

2,014,907

154,381

8

Creditors

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

10,000

10,000

Trade creditors

 

1,699

560

Amounts owed to related parties

9

4,688,919

3,249,732

Taxation and social security

 

-

736

Other creditors

 

455,840

503,984

 

5,156,458

3,765,012

Due after one year

 

Loans and borrowings

17,500

29,167

9

Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 "The Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidaries within the group.

 

Kido Education Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

10

Parent and ultimate parent undertaking

The company's immediate parent is Kido Education (Singapore) Limited, incorporated in Singapore.

 The most senior parent entity producing publicly available financial statements is Kido Education (Singapore) Limited. These financial statements are available upon request from 30 Raffles Place, #23-01 Oxley@Raffles, Singapore 048622.