2 false false false false false false false false false true false false true false true true No description of principal activity 2022-09-30 Sage Accounts Production Advanced 2021 - FRS102_2021 128,333 25,667 25,667 102,666 128,333 140,667 140,667 140,667 xbrli:pure xbrli:shares iso4217:GBP 13298954 2022-09-30 2023-09-29 13298954 2023-09-29 13298954 2021-03-29 2022-09-29 13298954 2022-09-29 13298954 core:NetGoodwill 2022-09-30 2023-09-29 13298954 bus:OrdinaryShareClass1 2022-09-30 2023-09-29 13298954 bus:OrdinaryShareClass2 2022-09-30 2023-09-29 13298954 bus:Director1 2022-09-30 2023-09-29 13298954 bus:Director2 2022-09-30 2023-09-29 13298954 core:NetGoodwill 2023-09-29 13298954 core:WithinOneYear 2023-09-29 13298954 core:WithinOneYear 2022-09-29 13298954 core:AfterOneYear 2023-09-29 13298954 core:AfterOneYear 2022-09-29 13298954 core:ShareCapital 2023-09-29 13298954 core:ShareCapital 2022-09-29 13298954 core:SharePremium 2023-09-29 13298954 core:SharePremium 2022-09-29 13298954 core:RetainedEarningsAccumulatedLosses 2023-09-29 13298954 core:RetainedEarningsAccumulatedLosses 2022-09-29 13298954 core:NetGoodwill 2022-09-29 13298954 core:CostValuation core:Non-currentFinancialInstruments 2023-09-29 13298954 core:Non-currentFinancialInstruments 2023-09-29 13298954 core:Non-currentFinancialInstruments 2022-09-29 13298954 bus:SmallEntities 2022-09-30 2023-09-29 13298954 bus:AuditExemptWithAccountantsReport 2022-09-30 2023-09-29 13298954 bus:FullAccounts 2022-09-30 2023-09-29 13298954 bus:SmallCompaniesRegimeForAccounts 2022-09-30 2023-09-29 13298954 bus:PrivateLimitedCompanyLtd 2022-09-30 2023-09-29 13298954 bus:OrdinaryShareClass1 2023-09-29 13298954 bus:OrdinaryShareClass1 2022-09-29 13298954 bus:OrdinaryShareClass2 2023-09-29 13298954 bus:OrdinaryShareClass2 2022-09-29 13298954 bus:AllOrdinaryShares 2023-09-29 13298954 bus:AllOrdinaryShares 2022-09-29
COMPANY REGISTRATION NUMBER: 13298954
Kind Wealth Holdings Limited
Filleted Unaudited Financial Statements
29 September 2023
Kind Wealth Holdings Limited
Statement of Financial Position
29 September 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
5
102,666
128,333
Investments
6
140,667
140,667
---------
---------
243,333
269,000
Current assets
Cash at bank and in hand
56,142
6,332
Creditors: amounts falling due within one year
7
99,455
109,435
--------
---------
Net current liabilities
43,313
103,103
---------
---------
Total assets less current liabilities
200,020
165,897
Creditors: amounts falling due after more than one year
8
62,229
42,458
---------
---------
Net assets
137,791
123,439
---------
---------
Capital and reserves
Called up share capital
9
119
119
Share premium account
128,314
128,314
Profit and loss account
9,358
( 4,994)
---------
---------
Shareholders funds
137,791
123,439
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 29 September 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Kind Wealth Holdings Limited
Statement of Financial Position (continued)
29 September 2023
These financial statements were approved by the board of directors and authorised for issue on 14 November 2032 , and are signed on behalf of the board by:
Mr D Huntbatch
Ms S Seeley
Director
Director
Company registration number: 13298954
Kind Wealth Holdings Limited
Notes to the Financial Statements
Year ended 29 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Swallowfield Courtyard, Wolverhampton Road, Oldbury, West Midlands, B69 2JG, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a small entity as defined in FRS102 and section 382 of the Companies Act 2006 and has taken advantage of the disclosure exemptions available under FRS102.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 30 September 2022 and 29 September 2023
128,333
---------
Amortisation
Charge for the year
25,667
---------
At 29 September 2023
25,667
---------
Carrying amount
At 29 September 2023
102,666
---------
At 29 September 2022
128,333
---------
6. Investments
Shares in group undertakings
£
Cost
At 30 September 2022 and 29 September 2023
140,667
---------
Impairment
At 30 September 2022 and 29 September 2023
---------
Carrying amount
At 29 September 2023
140,667
---------
At 29 September 2022
140,667
---------
At the year end, the company owns 100% of the share capital of Kind Wealth Limited, a company registered in England and Wales.
7. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
55,000
Director loan accounts
11,226
11,226
Other loans
12,000
Other creditors
21,229
98,209
--------
---------
99,455
109,435
--------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other loans
41,000
Other creditors
21,229
42,458
--------
--------
62,229
42,458
--------
--------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 0.01 each
10,000
100
10,000
100
B Ordinary shares of £ 0.01 each
1,918
19
1,918
19
--------
----
--------
----
11,918
119
11,918
119
--------
----
--------
----
10. Related party transactions
During the year D Huntbatch and S Huntbatch loaned the company a total of £60,000. In June 2023, the loans were re-assigned to C Huntbatch and at the year end a total of £53,000 was outstanding.