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REGISTERED NUMBER: 04910375 (England and Wales)















KIDS2 UK LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






KIDS2 UK LIMITED (REGISTERED NUMBER: 04910375)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 6


KIDS2 UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: R Gunnigle
M K Mintman



SECRETARY: Ms C R Osborne



REGISTERED OFFICE: C/O Bryan Cave Leighton Paisner LLP
Governor's House
5 Laurence Pountney Hill
London
EC4R 0BR



REGISTERED NUMBER: 04910375 (England and Wales)



SENIOR STATUTORY AUDITOR: Niall Kingsley FCA



AUDITORS: Duncan & Toplis Audit Limited, Statutory Auditor
3 Princes Court
Royal Way
Loughborough
Leicestershire
LE11 5XR

KIDS2 UK LIMITED (REGISTERED NUMBER: 04910375)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 285,570 15,940

CURRENT ASSETS
Debtors 5 1,529,256 1,910,111
Cash at bank 35,393 39,619
1,564,649 1,949,730
CREDITORS
Amounts falling due within one year 6 226,541 240,578
NET CURRENT ASSETS 1,338,108 1,709,152
TOTAL ASSETS LESS CURRENT LIABILITIES 1,623,678 1,725,092

PROVISIONS FOR LIABILITIES 8 157,624 77,624
NET ASSETS 1,466,054 1,647,468

CAPITAL AND RESERVES
Called up share capital 9 111,110 111,110
Retained earnings 1,354,944 1,536,358
SHAREHOLDERS' FUNDS 1,466,054 1,647,468

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 12 September 2024 and were signed on its behalf by:





M K Mintman - Director


KIDS2 UK LIMITED (REGISTERED NUMBER: 04910375)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Kids2 UK Limited 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise statement.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue
Revenue relates to sales commission receivable which is recognised when the outcome of the transaction can be estimated reliably by reference to the stage of completion of the transaction at the end of the reporting period.

The outcome of a transaction can be estimated reliably when all the following conditions are met:
- The amount of revenue can be measured reliably;
- It is probable that the economic benefits associated with the transaction will flow to the Company;
- The stage of completion of the transaction at the end of the reporting period can be measured reliably; and
- The costs incurred for the transaction and the costs to complete the transaction can be measured reliably.

Property, plant and equipment
Property, plant and equipment assets are held at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its useful economic life.

Office equipment - 20% straight line
Leasehold improvements - Over the term of the lease

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is any indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the income statement.

KIDS2 UK LIMITED (REGISTERED NUMBER: 04910375)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated at the average rate of exchange for the month the transaction takes place, with the exception of monetary transactions which are converted using the spot rate on the date of transaction.

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.

Provisions
Provisions are recognised when the company has an obligation at the financial reporting date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Going concern
The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The directors have considered the company's current performance, its current cash position and also that of the wider group in making their assessment that the company has adequate resources to continue its operations for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 5 ) .

KIDS2 UK LIMITED (REGISTERED NUMBER: 04910375)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. PROPERTY, PLANT AND EQUIPMENT
Leasehold Office
improvements equipment Totals
£    £    £   
COST
At 1 January 2023 121,457 57,076 178,533
Additions 277,859 1,172 279,031
At 31 December 2023 399,316 58,248 457,564
DEPRECIATION
At 1 January 2023 121,457 41,136 162,593
Charge for year 6,140 3,261 9,401
At 31 December 2023 127,597 44,397 171,994
NET BOOK VALUE
At 31 December 2023 271,719 13,851 285,570
At 31 December 2022 - 15,940 15,940

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 1,328,106 1,904,227
Other debtors 93,672 5,884
Corporation tax 107,478 -
1,529,256 1,910,111

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,042 24,806
Amounts owed to group undertakings 168,757 171,226
Corporation tax - 9,747
Other taxes and social security - 15,232
Other creditors and accruals 53,742 19,567
226,541 240,578

7. LEASING AGREEMENTS
Payments under non-cancellable operating leases relate to rent on properties.

Minimum lease payments under non-cancellable operating leases fall due as follows:

2023 2022
£ £
Within one year 65,154 32,596
Between one and five years 304,054 -
369,208 32,596

KIDS2 UK LIMITED (REGISTERED NUMBER: 04910375)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 2,269 2,269
Dilapidation provision 155,355 75,355
157,624 77,624

Deferred Property
tax costs
£    £   
Balance at 1 January 2023 2,269 75,355
Provided during year - 80,000
Balance at 31 December 2023 2,269 155,355

A provision for property costs is made for the committed cost or estimated exit costs of properties occupied by the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
111,110 Ordinary shares of £1 each £1 111,110 111,110

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Niall Kingsley FCA (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

11. CONTINGENT LIABILITIES

Two legal charges are held over all property of the company to secure group borrowings.

12. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 3,740 -

13. OTHER FINANCIAL COMMITMENTS

Included in the cash in hand balance of £35,393 (2022: £39,619) is restricted cash of £1,456 (2022: £1,366) used as committed credit.

14. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Kids2 International Group B.V., a Netherlands company. The largest and smallest group in which the results are consolidated is Kids2 Holding LLC. A set of consolidated financial statements can be obtained through inquiry of directors of this company.