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Registered number: 08765581
Mns Kids Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Cara Chapman
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08765581
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 114,354 114,354
Tangible Assets 5 24,646 26,269
Investments 6 269,113 269,113
408,113 409,736
CURRENT ASSETS
Debtors 7 25,387 26,219
Cash at bank and in hand 59,557 81,547
84,944 107,766
Creditors: Amounts Falling Due Within One Year 8 (173,871 ) (262,344 )
NET CURRENT ASSETS (LIABILITIES) (88,927 ) (154,578 )
TOTAL ASSETS LESS CURRENT LIABILITIES 319,186 255,158
Creditors: Amounts Falling Due After More Than One Year 9 (13,623 ) (22,506 )
NET ASSETS 305,563 232,652
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 305,561 232,650
SHAREHOLDERS' FUNDS 305,563 232,652
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For the year ending 30 November 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 Marina Sturmey
Director
22/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Mns Kids Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08765581 . The registered office is 9 Chaucer Court, Ewelme, Wallingford, South Oxfordshire, OX10 6HW.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years. Goodwill is reviewed annually if events or changes in circumstances indicate that the carrying value may not be recoverable.
2.4. 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 7% on cost
Plant & Machinery 20% on cost
Fixtures & Fittings 20% on cost
2.5. 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 years 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 assets reflect 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: 25 (2022: 25)
25 25
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 114,354
As at 30 November 2023 114,354
Net Book Value
As at 30 November 2023 114,354
As at 1 December 2022 114,354
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 December 2022 22,751 28,461 13,256 64,468
Additions - 3,456 310 3,766
As at 30 November 2023 22,751 31,917 13,566 68,234
Depreciation
As at 1 December 2022 6,370 27,338 4,491 38,199
Provided during the period 1,593 1,170 2,626 5,389
As at 30 November 2023 7,963 28,508 7,117 43,588
Net Book Value
As at 30 November 2023 14,788 3,409 6,449 24,646
As at 1 December 2022 16,381 1,123 8,765 26,269
6. Investments
Subsidiaries
£
Cost
As at 1 December 2022 269,113
As at 30 November 2023 269,113
Provision
As at 1 December 2022 -
As at 30 November 2023 -
Net Book Value
As at 30 November 2023 269,113
As at 1 December 2022 269,113
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7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 25,387 26,219
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2,147 (2,677 )
Bank loans and overdrafts 9,584 9,584
Corporation tax 28,255 22,469
Other taxes and social security 5,858 7,207
Net wages 26,244 29,609
Other creditors 1,752 1,526
Accruals and deferred income 34,208 38,496
Directors' loan accounts 65,823 156,130
173,871 262,344
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 13,623 22,506
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
11. Related Party Transactions
Investments in Subsidaries is 100% of the share capital of Rainbows Childcare Limited, a company under common control with MNS Kids Ltd. 
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