Khin Family Services Ltd 12878030 false 2022-10-01 2024-03-31 2024-03-31 The principal activity of the company is is the provision of family assessment services. Digita Accounts Production Advanced 6.30.9574.0 true 12878030 2022-10-01 2024-03-31 12878030 2024-03-31 12878030 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2024-03-31 12878030 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2024-03-31 12878030 bus:OrdinaryShareClass3 bus:Non-cumulativeNon-redeemableShares 2024-03-31 12878030 bus:OrdinaryShareClass4 bus:Non-cumulativeNon-redeemableShares 2024-03-31 12878030 bus:OrdinaryShareClass5 bus:Non-cumulativeNon-redeemableShares 2024-03-31 12878030 core:CurrentFinancialInstruments 2024-03-31 12878030 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12878030 core:Non-currentFinancialInstruments 2024-03-31 12878030 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 12878030 core:FurnitureFittings 2024-03-31 12878030 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 12878030 core:LandBuildings core:ShortLeaseholdAssets 2024-03-31 12878030 core:OfficeEquipment 2024-03-31 12878030 bus:SmallEntities 2022-10-01 2024-03-31 12878030 bus:AuditExemptWithAccountantsReport 2022-10-01 2024-03-31 12878030 bus:FilletedAccounts 2022-10-01 2024-03-31 12878030 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2024-03-31 12878030 bus:RegisteredOffice 2022-10-01 2024-03-31 12878030 bus:Director1 2022-10-01 2024-03-31 12878030 bus:Director2 2022-10-01 2024-03-31 12878030 bus:Director3 2022-10-01 2024-03-31 12878030 bus:Director4 2022-10-01 2024-03-31 12878030 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-10-01 2024-03-31 12878030 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2022-10-01 2024-03-31 12878030 bus:OrdinaryShareClass3 bus:Non-cumulativeNon-redeemableShares 2022-10-01 2024-03-31 12878030 bus:OrdinaryShareClass4 bus:Non-cumulativeNon-redeemableShares 2022-10-01 2024-03-31 12878030 bus:OrdinaryShareClass5 bus:Non-cumulativeNon-redeemableShares 2022-10-01 2024-03-31 12878030 bus:PrivateLimitedCompanyLtd 2022-10-01 2024-03-31 12878030 core:FurnitureFittings 2022-10-01 2024-03-31 12878030 core:LandBuildings 2022-10-01 2024-03-31 12878030 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-01 2024-03-31 12878030 core:LandBuildings core:ShortLeaseholdAssets 2022-10-01 2024-03-31 12878030 core:LeaseholdImprovements 2022-10-01 2024-03-31 12878030 core:OfficeEquipment 2022-10-01 2024-03-31 12878030 countries:EnglandWales 2022-10-01 2024-03-31 12878030 2022-09-30 12878030 core:FurnitureFittings 2022-09-30 12878030 core:LandBuildings core:OwnedOrFreeholdAssets 2022-09-30 12878030 core:LandBuildings core:ShortLeaseholdAssets 2022-09-30 12878030 core:OfficeEquipment 2022-09-30 12878030 2021-10-01 2022-09-30 12878030 2022-09-30 12878030 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-09-30 12878030 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2022-09-30 12878030 bus:OrdinaryShareClass3 bus:Non-cumulativeNon-redeemableShares 2022-09-30 12878030 bus:OrdinaryShareClass4 bus:Non-cumulativeNon-redeemableShares 2022-09-30 12878030 bus:OrdinaryShareClass5 bus:Non-cumulativeNon-redeemableShares 2022-09-30 12878030 core:CurrentFinancialInstruments 2022-09-30 12878030 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 12878030 core:Non-currentFinancialInstruments 2022-09-30 12878030 core:Non-currentFinancialInstruments core:AfterOneYear 2022-09-30 12878030 core:FurnitureFittings 2022-09-30 12878030 core:LandBuildings core:OwnedOrFreeholdAssets 2022-09-30 12878030 core:LandBuildings core:ShortLeaseholdAssets 2022-09-30 12878030 core:OfficeEquipment 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12878030

Khin Family Services Ltd

Unaudited Filleted Financial Statements

for the Period from 1 October 2022 to 31 March 2024

 

Khin Family Services Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Khin Family Services Ltd

Company Information

Directors

H Hill

D Bissember

K Gravesande-Hill

P Peterkin

Registered office

7 Linkfield Lane
Redhill
RH1 1JF

Accountants

Smart Accounting & Tax Solutions LLP
74A Station Road East
Oxted
Surrey
RH8 0PG

 

Khin Family Services Ltd

(Registration number: 12878030)
Balance Sheet as at 31 March 2024

Note

2024
£

2022
£

Fixed assets

 

Tangible assets

4

1,485,095

131,709

Current assets

 

Debtors

5

347,022

254,997

Cash at bank and in hand

 

127,566

113,434

 

474,588

368,431

Creditors: Amounts falling due within one year

6

(379,641)

(339,094)

Net current assets

 

94,947

29,337

Total assets less current liabilities

 

1,580,042

161,046

Creditors: Amounts falling due after more than one year

6

(871,210)

-

Provisions for liabilities

(501)

(751)

Net assets

 

708,331

160,295

Capital and reserves

 

Called up share capital

7

200

200

Share premium reserve

134,960

134,960

Retained earnings

573,171

25,135

Shareholders' funds

 

708,331

160,295

 

Khin Family Services Ltd

(Registration number: 12878030)
Balance Sheet as at 31 March 2024

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 August 2024 and signed on its behalf by:
 

.........................................
H Hill
Director

   
     
 

Khin Family Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Linkfield Lane
Redhill
RH1 1JF

These financial statements were authorised for issue by the Board on 20 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Khin Family Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

The Company was not trading in the period and hence the costs incurred have not been depreciated.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% Straight line

Short leasehold land & buildings

25% Straight line

Office equipment

33% Straight line

Freehold buildings

2% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Khin Family Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 23 (2022 - 7).

 

Khin Family Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2024

4

Tangible assets

Land and buildings
£

Short leasehold land and buildings
£

Fixtures and fittings
£

Office equipment
£

Cost or valuation

At 1 October 2022

-

144,853

28,407

2,646

Additions

1,375,345

-

24,915

9,513

Transfers

144,853

(144,853)

-

-

At 31 March 2024

1,520,198

-

53,322

12,159

Depreciation

At 1 October 2022

-

36,213

7,102

882

Charge for the period

36,485

-

17,421

2,481

Transfers

36,213

(36,213)

-

-

At 31 March 2024

72,698

-

24,523

3,363

Carrying amount

At 31 March 2024

1,447,500

-

28,799

8,796

At 30 September 2022

-

108,640

21,305

1,764

 

Khin Family Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2024

Total
£

Cost or valuation

At 1 October 2022

175,906

Additions

1,409,773

Transfers

-

At 31 March 2024

1,585,679

Depreciation

At 1 October 2022

44,197

Charge for the period

56,387

Transfers

-

At 31 March 2024

100,584

Carrying amount

At 31 March 2024

1,485,095

At 30 September 2022

131,709

Included within the net book value of land and buildings above is £1,447,500 (2022 - £Nil) in respect of freehold land and buildings and £Nil (2022 - £108,639) in respect of short leasehold land and buildings. During the period the Company acquired the freehold of the building it operates from. The leasehold costs incurred to refurbish the property have been transferred to freehold land & buildings with the depreciation on the leasehold costs written back. The freehold building is to be depreciated over its estimated useful life of 50 years.
 

 

Khin Family Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2024

5

Debtors

Current

2024
£

2022
£

Trade debtors

198,422

169,192

Other debtors

148,600

85,805

 

347,022

254,997

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2022
£

Due within one year

 

Loans and borrowings

8

34,492

233,000

Trade creditors

 

37,125

346

Taxation and social security

 

188,287

32,887

Accruals and deferred income

 

4,200

4,200

Other creditors

 

115,537

68,661

 

379,641

339,094

Creditors: amounts falling due after more than one year

Note

2024
£

2022
£

Due after one year

 

Loans and borrowings

8

871,210

-

 

Khin Family Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2022

No.

£

No.

£

Ordinary shares of £1 each

66

66

66

66

Ordinary A shares of £1 each

66

66

66

66

Ordinary B shares of £1 each

20

20

20

20

Ordinary C shares of £1 each

20

20

20

20

Ordinary D shares of £1 each

28

28

28

28

200

200

200

200

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2022
£

Bank borrowings

871,210

-

Current loans and borrowings

2024
£

2022
£

Bank borrowings

34,492

-

Other borrowings

-

233,000

34,492

233,000