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Registration number: 13243599

Kidd in a Sweet Shop Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Kidd in a Sweet Shop Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Kidd in a Sweet Shop Ltd

(Registration number: 13243599)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

2,505

5,010

Tangible assets

6

1,717

2,157

 

4,222

7,167

Current assets

 

Debtors

7

200

4,287

Cash at bank and in hand

 

5,384

3,244

 

5,584

7,531

Creditors: Amounts falling due within one year

8

(18,384)

(28,678)

Net current liabilities

 

(12,800)

(21,147)

Total assets less current liabilities

 

(8,578)

(13,980)

Creditors: Amounts falling due after more than one year

8

(112,000)

(82,000)

Net liabilities

 

(120,578)

(95,980)

Capital and reserves

 

Called up share capital

200

200

Retained earnings

(120,778)

(96,180)

Shareholders' deficit

 

(120,578)

(95,980)

For the financial year ending 31 December 2023 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. 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.

 

Kidd in a Sweet Shop Ltd

(Registration number: 13243599)
Balance Sheet as at 31 December 2023

Approved and authorised by the Board on 21 March 2024 and signed on its behalf by:
 

.........................................
Mr A P Thorby
Director

 

Kidd in a Sweet Shop Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Unit 1, Meadowhall Riverside
Meadowhall Road
Sheffield
S9 1BW

These financial statements were authorised for issue by the Board on 21 March 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis but for the reasons set out in the directors report this may not be appropriate.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Kidd in a Sweet Shop Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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:

Asset class

Depreciation method and rate

Equipment

25% per annum on a reducing balance basis

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

Company App

3 years on a 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.

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.

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.

 

Kidd in a Sweet Shop Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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 4 (2022 - 3).

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

574

610

Amortisation expense

2,505

2,505

 

Kidd in a Sweet Shop Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 January 2023

7,515

7,515

At 31 December 2023

7,515

7,515

Amortisation

At 1 January 2023

2,505

2,505

Amortisation charge

2,505

2,505

At 31 December 2023

5,010

5,010

Carrying amount

At 31 December 2023

2,505

2,505

At 31 December 2022

5,010

5,010

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

3,277

3,277

Additions

134

134

At 31 December 2023

3,411

3,411

Depreciation

At 1 January 2023

1,120

1,120

Charge for the year

574

574

At 31 December 2023

1,694

1,694

Carrying amount

At 31 December 2023

1,717

1,717

At 31 December 2022

2,157

2,157

 

Kidd in a Sweet Shop Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Debtors

2023
£

2022
£

Other debtors

200

4,287

200

4,287

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

17,080

28,003

Taxation and social security

 

559

-

Accrued expenses

 

745

675

 

18,384

28,678

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

112,000

82,000

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

112,000

82,000