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Registered number: 12949738
Knead a Little Love Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Infologik Limited T/A wedo accounting
Kemp House
152-160 City Road
London
EC1V 2NX
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12949738
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 58,750 66,583
Tangible Assets 5 22,643 23,029
81,393 89,612
CURRENT ASSETS
Debtors 6 1,850 10,702
Cash at bank and in hand 5,933 3,740
7,783 14,442
Creditors: Amounts Falling Due Within One Year 7 (722 ) (97,537 )
NET CURRENT ASSETS (LIABILITIES) 7,061 (83,095 )
TOTAL ASSETS LESS CURRENT LIABILITIES 88,454 6,517
Creditors: Amounts Falling Due After More Than One Year 8 (135,122 ) (42,900 )
NET LIABILITIES (46,668 ) (36,383 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (46,669 ) (36,384 )
SHAREHOLDERS' FUNDS (46,668) (36,383)
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Rebecca Stockell
Director
20th March 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Knead a Little Love Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12949738 . The registered office is 7a Reading Lane, London, E8 1DS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 9 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Straight Line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 3)
4 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2022 70,500
As at 31 October 2023 70,500
Amortisation
As at 1 November 2022 3,917
Provided during the period 7,833
As at 31 October 2023 11,750
Net Book Value
As at 31 October 2023 58,750
As at 1 November 2022 66,583
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5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 November 2022 26,862
Additions 4,970
As at 31 October 2023 31,832
Depreciation
As at 1 November 2022 3,833
Provided during the period 5,356
As at 31 October 2023 9,189
Net Book Value
As at 31 October 2023 22,643
As at 1 November 2022 23,029
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 1,819
VAT 1,640 8,671
Other taxes and social security 210 -
1,850 10,490
Due after more than one year
Other taxes and social security - 212
- 212
1,850 10,702
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 722 4,082
Bank loans and overdrafts - 233
Directors' loan accounts - 93,222
722 97,537
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other loans 40,000 40,000
Corporation tax - 2,900
Net wages 3,792 -
Directors loan account 91,330 -
135,122 42,900
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9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
10. Ultimate Controlling Party
The company's ultimate controlling party is Jessica Stockell by virtue of his ownership of 100% of the issued share capital in the company.
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