09746999 2022-09-01 2023-08-31 09746999 uk-bus:Director1 2022-09-01 2023-08-31 09746999 uk-bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 09746999 uk-bus:SmallEntities 2022-09-01 2023-08-31 09746999 uk-bus:FullAccounts 2022-09-01 2023-08-31 09746999 uk-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 09746999 2022-09-01 09746999 2023-08-31 09746999 2021-09-01 2022-08-31 09746999 2022-08-31 xbrli:pure iso4217:GBP 09746999 2021-09-01 2022-08-31
Company Registration Number : 09746999 (England and Wales)
09746999
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2023-08-31
false
KINDNEST LIMITED
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2022-09-01
KINDNEST LIMITED
Unaudited financial statements and annual report
For the year ended 31 August 2023
KINDNEST LIMITED
Contents
For the year ended 31 August 2023

CONTENTS PAGE
Company Information 3
Directors' Report 4
Directors' Responsibilities Statement
Accountant's Report 5
Income Statement 6
Statement of Financial Position 7
Notes to the Financial Statements 8 - 10
Detailed Income Statement 11


KINDNEST LIMITED
Company Information
For the year ended 31 August 2023

Company registration number 09746999 (England and Wales)
Directors Samuel Osayuki IGBINOSA
Olubukola Olufolake YUKI-IGBINOSA
Registered office address 31 Church Street
Dagenham
RM10 9UR
Accountant












Accountant





KINDNEST LIMITED
Directors' Report
For the year ended 31 August 2023

The directors present their report and the Unaudited Financial Statements for the year ended 31 August 2023.
Principal activity
buying and selling of own real estate
Directors of the company
The following directors held office during the whole of the period:
Olubukola Olufolake YUKI-IGBINOSA
Samuel Osayuki IGBINOSA
Statement of directors' responsibilities
The directors are responsible for preparing the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare such financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), FRS 102 1A.
Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to;
-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;and
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Board of directors and signed on its behalf by:
Samuel Osayuki IGBINOSA (Director)
Date: 18 April 2024
This report was approved by the board on 2024-04-18 Date: 18 April 2024
KINDNEST LIMITED
Accountant's report
For the year ended 31 August 2023

Accountant's Report to the board of directors on the preparation of the unaudited statutory accounts of KINDNEST LIMITED for the year ended 31 August 2023.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of KINDNEST LIMITED for the year ended 31 August 2023.


We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on these financial statements.


You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.


The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.






2024-04-18 Date: 18 April 2024
5
KINDNEST LIMITED
Income Statement
For the year ended 31 August 2023

2023 2022
Notes £ £
Turnover 5 11,475 11,078
Cost of sales (30) (54)
Gross profit 11,445 11,023
Selling and distribution expenses - (158)
Administrative expenses (4,262) (3,510)
Operating profit 7,183 7,356
Interest payable and similar charges 7 (5,225) (5,168)
Profit on ordinary activities before taxation 1,958 2,189
Profit for the year 1,958 2,189
/* == Copy of Frs105 Profit Loss for XML COntent ============================================================ */
Profit and loss account
2023 2022
£ £
KINDNEST LIMITED
Statement of Financial Position
For the year ended 31 August 2023

2023 2022
Notes £ £
Fixed assets
Investment Property 8 192,000 192,000
192,000 192,000
Current assets
Cash and cash equivalents 9 553 506
553 506
Current liabilities
Creditors: Amounts falling due within one year 10 (1) (50)
(1) (50)
Net current assets/(liabilities) 552 456
Total assets less current liabilities 192,552 192,456
Non-current liabilities
Creditors: Amounts falling due after more than one year 11 (173,390) (175,252)
Net assets/(liabilities) 19,162 17,204
Capital and reserves
Called up share capital 12 30,000 30,000
Retained earnings (10,838) (12,796)
Shareholder's funds 19,162 17,204
For the year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
  • For the year ended 31 August 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 responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities.
Approved by the Board on 18 April 2024
.............................
Samuel Osayuki IGBINOSA (Director)
Company registration number: 09746999
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2023-08-31 31 August 2023
2023 2022
£ £
Fixed Assets 192,000 192,000
Current Assets 553 506
Creditors: amounts falling due within one year (1) (50)
Net current assets (liabilities) 552 456
Total assets less current liabilities 192,552 192,456
CREDITORS: Amounts falling due more than one year (173,390) (175,252)
Net Assets (liabilities) 19,162 17,204
Capital and Reserves 19,162 17,204
For the year ending 31/08/2023 the company was entitled to exemption 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. For the year ending 31-08-2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year 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 accounts. 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 small companies provisions and in accordance with FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime.
Approved by the board of directors on 18 April 2024 2024-04-18 and signed on behalf of the board,
.............................
Samuel Osayuki IGBINOSA
Director
Company registration number: 09746999
KINDNEST LIMITED
Notes to the Financial Statements
For the year ended 31 August 2023

(1) General Information
KINDNEST LIMITED is a private company limited by shares, domiciled and incorporated in England and Wales. Its registered office is Petronne House, 31 Church Street, Dagenham RM10 9UR.

(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.

(3) Significant Accounting Policies
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. These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies regime.
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Sale of goods
Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them.
Rendering of Services
Revenue from provision of services rendered in the reporting period is recognised when the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs and its stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered. When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised.
Borrowing costs
All borrowing related costs are included within the statement of income in the period in which they are incurred using the effective interest method.
Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:

Asset class and depreciation rate
Land and Buildings
Plant and Machinery
Short Leasehold Properties
Investment Properties
Long Leasehold Properties
Commercial Vehicles
Fixtures and Fittings
Equipment
Motor Cars

(4) Critical accounting judgements and key sources of estimation uncertainty
No judgement
No significant judgements or estimates have been made in preparation of these financial statements.

(5) Turnover
The revenue from company's operations comprise:
2023 2022
£ £
Sales 11,475 11,078
11,475 11,078

(6) Employees
During the year, the average number of employees including director was 0 (2022 : 0).

(7) Interest payable and similar charges
2023 2022
£ £
Interest on bank loans and overdrafts 5,225 5,168
5,225 5,168

(8) Investment Property
Investment Properties
£
Cost
As at 01 September 2022192,000
As at 31 August 2023192,000
Depreciation
As at 31 August 2023-
Net book value
As at 31 August 2023192,000
As at 31 August 2022192,000

(9) Cash and cash equivalents
2023 2022
£ £
Bank balance 553 506
553 506

(10) Creditors: Amounts falling due within one year
2023 2022
£ £
Trade creditors 1 50
1 50

(11) Creditors: Amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 173,390 175,252
173,390 175,252

(12) Share capital and reserves
Alloted,called up and fully paid: 2023 2022
£ £
30,000 (2022 : 30,000) Ordinary Shares of £ 1 each30,00030,000
30,000 30,000
Ordinary shares hold equal voting rights.
Retained earnings 2023
£
At 1 September 2022 (12,796)
Profit of the year 1,958
At 31 August 2023 (10,838)
KINDNEST LIMITED
Detailed Income Statement
For the year ended 31 August 2023




This section does not form part of the statutory accounts.




2023 2022
£ £
Turnover 11,475 11,078
Less : Cost of sales
Transportation Costs 30 54
30 54
Gross Profit 11,445 11,023
Less : Selling and distribution expenses
Subsistence - 158
- 158
Less : Administrative expenses
Light, Power and Heating 82 -
Registered Business Address 130 173
Maintenance & Repairs 230 -
Low Value Equipment - 470
Accountancy, Bookkeeping and Auditing Fees 504 577
Telephone and Internet 3,221 2,110
Charitable Donations - 25
Bank Fees 96 155
4,262 3,510
Operating profit 7,183 7,356
Less : Interest payable and similar charges
Hire Purchase, Mortgage and Other Interest 4,794 -
Mortgage Expenses 431 5,168
5,225 5,168
Profit on ordinary activities before taxation 1,958 2,189
Net profit for the year after taxation 1,958 2,189