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Registered number: 3486601
KIDS LONDON LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2023
CHRIS ATKINS SERVICES ONE LIMITED
Office C310 Access Self Storage,
20 Bugsby's Way
Charlton, London
SE7 7SF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 3486601
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 231,976 239,614
Investments 5 53,000 53,000
284,976 292,614
CURRENT ASSETS
Cash at bank and in hand 603,071 727,302
603,071 727,302
Creditors: Amounts Falling Due Within One Year 6 (255,961 ) (421,819 )
NET CURRENT ASSETS (LIABILITIES) 347,110 305,483
TOTAL ASSETS LESS CURRENT LIABILITIES 632,086 598,097
Creditors: Amounts Falling Due After More Than One Year 7 (57,322 ) (57,322 )
NET ASSETS 574,764 540,775
CAPITAL AND RESERVES
Called up share capital 8 10,000 10,000
Profit and Loss Account 564,764 530,775
SHAREHOLDERS' FUNDS 574,764 540,775
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For the 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.
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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Susan Walker-Blake
Director
05/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
KIDS LONDON LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 3486601 . The registered office is 67 DULWICH ROAD, LONDON, SE24 0NJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 1.01%
Plant & Machinery 25%
Motor Vehicles 25%
Fixtures & Fittings 25%
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 9 9
9 9
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 January 2023 200,000 206,592 62,740 - 469,332
Additions - 9,395 - 2,586 11,981
As at 31 December 2023 200,000 215,987 62,740 2,586 481,313
Depreciation
As at 1 January 2023 22,200 186,440 21,078 - 229,718
Provided during the period 2,020 6,537 10,416 646 19,619
As at 31 December 2023 24,220 192,977 31,494 646 249,337
Net Book Value
As at 31 December 2023 175,780 23,010 31,246 1,940 231,976
As at 1 January 2023 177,800 20,152 41,662 - 239,614
5. Investments
Other
£
Cost
As at 1 January 2023 53,000
As at 31 December 2023 53,000
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 53,000
As at 1 January 2023 53,000
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 100,480 120,480
Corporation tax 25,074 20,482
Other taxes and social security 9,285 9,302
VAT 15,036 17,739
Other creditors 33,783 40,549
Other creditors - Credit Card (Current liabilities - creditors < 1 year) 8,149 13,285
Other creditors -Pension 881 880
Accruals and deferred income 14,500 14,500
Directors' loan accounts 48,773 184,602
255,961 421,819
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Trade creditors 57,322 57,322
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10,000 10,000
9. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid 55,000 5,000
Page 5