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REGISTERED NUMBER: 10047637 (England and Wales)










Koru Kids Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2023






Koru Kids Ltd (Registered number: 10047637)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Koru Kids Ltd

Company Information
for the year ended 31 December 2023







DIRECTORS: Dr R S Carrell
Mr D M Easton
Mr N F Wass
Mr N G Brisbourne





REGISTERED OFFICE: 128 City Road
London
EC1V 2NX





REGISTERED NUMBER: 10047637 (England and Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

Koru Kids Ltd (Registered number: 10047637)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 122,792 -
Tangible assets 5 47,048 72,362
Investments 6 1 1
169,841 72,363

CURRENT ASSETS
Stocks 8,598 8,598
Debtors 7 1,223,381 914,202
Cash at bank and in hand 1,687,860 3,242,096
2,919,839 4,164,896
CREDITORS
Amounts falling due within one year 8 3,066,301 5,207,092
NET CURRENT LIABILITIES (146,462 ) (1,042,196 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,379

(969,833

)

CREDITORS
Amounts falling due after more than one
year

9

2,800,000

3,000,000
NET LIABILITIES (2,776,621 ) (3,969,833 )

CAPITAL AND RESERVES
Called up share capital 60 60
Share premium 17,577,562 14,122,298
Retained earnings (20,354,243 ) (18,092,191 )
(2,776,621 ) (3,969,833 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 April 2024 and were signed on its behalf by:



Dr R S Carrell - Director


Koru Kids Ltd (Registered number: 10047637)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Koru Kids Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The company has negative retained earnings as of the year end, however through current and future investments and cost cutting exercises, the directors feel appropriate to prepare the accounts on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 7 years
Computer equipment - 5 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Koru Kids Ltd (Registered number: 10047637)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 56 (2022 - 72 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 122,792
At 31 December 2023 122,792
NET BOOK VALUE
At 31 December 2023 122,792

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 January 2023 740 132,460 133,200
Additions - 2,663 2,663
At 31 December 2023 740 135,123 135,863
DEPRECIATION
At 1 January 2023 567 60,271 60,838
Charge for year 111 27,866 27,977
At 31 December 2023 678 88,137 88,815
NET BOOK VALUE
At 31 December 2023 62 46,986 47,048
At 31 December 2022 173 72,189 72,362

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

Koru Kids Ltd (Registered number: 10047637)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,044,550 752,733
Amounts owed by group undertakings - 26,998
Other debtors 178,831 134,471
1,223,381 914,202

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 887,537 630,974
Amounts owed to group undertakings 73,924 -
Taxation and social security 302,320 248,496
Other creditors 1,802,520 4,327,622
3,066,301 5,207,092

Included within other creditors is an amount due to a director of £2,000 (2022: £2,000) and advanced payments received of £1,058,727 (2022: £832,140).

Other creditors also include convertible loan notes of £419 499 (2022: £3,427,961), with a maturity date of 3r 20th June 2024.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 2,800,000 3,000,000

10. RELATED PARTY DISCLOSURES

Rua Kids Ltd a company incorporated in England & Wales is a wholly owned subsidiary of Koru Kids Ltd.

Koru Kids Ltd and Rua Kids Ltd are a part of a VAT group.

As of the year end, Rua Kids Ltd owed the company £73,924 (2022: £26,998).

11. ULTIMATE CONTROLLING PARTY

There is currently no ultimate controlling party as no individual or entity holds equal to or more than 50% of the issued share capital.