KIDDY WORLD LTD

Company Registration Number:
10140993 (England and Wales)

Unaudited abridged accounts for the year ended 30 April 2023

Period of accounts

Start date: 01 May 2022

End date: 30 April 2023

KIDDY WORLD LTD

Contents of the Financial Statements

for the Period Ended 30 April 2023

Balance sheet
Notes

KIDDY WORLD LTD

Balance sheet

As at 30 April 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets: 3 47,052 62,735
Tangible assets: 4 12,431 18,472
Total fixed assets: 59,483 81,207
Current assets
Stocks: 325 270
Debtors:   255,823 221,060
Cash at bank and in hand: 2,052 63,705
Total current assets: 258,200 285,035
Creditors: amounts falling due within one year:   (187,510) (226,487)
Net current assets (liabilities): 70,690 58,548
Total assets less current liabilities: 130,173 139,755
Creditors: amounts falling due after more than one year:   (55,833) (100,833)
Total net assets (liabilities): 74,340 38,922
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 74,240 38,822
Shareholders funds: 74,340 38,922

The notes form part of these financial statements

KIDDY WORLD LTD

Balance sheet statements

For the year ending 30 April 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.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 13 March 2024
and signed on behalf of the board by:

Name: M S Jones
Status: Director

The notes form part of these financial statements

KIDDY WORLD LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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.

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulateddepreciation and impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in thecarrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.DepreciationDepreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:Fittings fixtures and equipment - 15% reducing balanceMotor vehicles - 25% reducing balanceIf there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Intangible fixed assets and amortisation policy

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.Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.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 - 10% straight lineIf 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.

Other accounting policies

TaxationThe taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.StocksStocks are measured at the lower of cost and estimated selling price less costs to complete and sell.Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.ir value with changes in fair value being recognised in profit or loss.ImpairmentA 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.Financial instrumentsA financial asset or a financial liability is recognised only when the company 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.Defined contribution plansContributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

KIDDY WORLD LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

2. Employees

2023 2022
Average number of employees during the period 19 18

KIDDY WORLD LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

3. Intangible Assets

Total
Cost £
At 01 May 2022 156,833
At 30 April 2023 156,833
Amortisation
At 01 May 2022 94,098
Charge for year 15,683
At 30 April 2023 109,781
Net book value
At 30 April 2023 47,052
At 30 April 2022 62,735

KIDDY WORLD LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

4. Tangible Assets

Total
Cost £
At 01 May 2022 40,508
Additions 859
Disposals (6,000)
At 30 April 2023 35,367
Depreciation
At 01 May 2022 22,036
Charge for year 3,525
On disposals (2,625)
At 30 April 2023 22,936
Net book value
At 30 April 2023 12,431
At 30 April 2022 18,472

KIDDY WORLD LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

5. Financial commitments

There is a debenture by the company which includes a fixed and floating legal mortgage over the whole assets of the company in favour of Lloyds Bank plc. Lloyds Bank plc hold an omnibus guarantee and right of set off between Oscar Bears Limited, Olyness Limited, 1st Class Nursery Limited, and Kid IncLimited and this company, all of which have M S Jones and O A Jones as directors and shareholders.

KIDDY WORLD LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

6. Loans to directors

Name of director receiving advance or credit: M S Jones
Description of the loan: loan advance
£
Balance at 01 May 2022 9,472
Advances or credits repaid: 945
Balance at 30 April 2023 8,527
Name of director receiving advance or credit: O A Jones
Description of the loan: loan advance
£
Balance at 01 May 2022 9,472
Advances or credits repaid: 945
Balance at 30 April 2023 8,527

KIDDY WORLD LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

7. Related party transactions

Name of the related party: Kid Inc Limited
Relationship:
Associated company
Description of the Transaction: inter company
£
Balance at 01 May 2022 148,008
Balance at 30 April 2023 174,875
Name of the related party: Olyness Limited
Relationship:
Associated company
Description of the Transaction: intercompany
£
Balance at 01 May 2022 23,037
Balance at 30 April 2023 0
Name of the related party: Olyness Limited
Relationship:
Associated company
Description of the Transaction: intercompany
£
Balance at 01 May 2022 0
Balance at 30 April 2023 5,203
Name of the related party: Oscar Bears Limited
Relationship:
Associated company
Description of the Transaction: intercompany
£
Balance at 01 May 2022 61,248
Balance at 30 April 2023 49,218
Name of the related party: 1st Class Nursery Limited
Relationship:
Associated company
Description of the Transaction: intercompany
£
Balance at 01 May 2022 50,101
Balance at 30 April 2023 54,491

M S Jones and O A Jones, the directors and shareholders of this company, are also directors and shareholders of all the above companies. The loans are interest free and repayable on demand.