Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 12722146 Mrs Sureeta Kamari Nayyar Abassi Ms Tuhid Ara iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12722146 2022-12-31 12722146 2023-12-31 12722146 2023-01-01 2023-12-31 12722146 frs-core:CurrentFinancialInstruments 2023-12-31 12722146 frs-core:ComputerEquipment 2023-12-31 12722146 frs-core:ComputerEquipment 2023-01-01 2023-12-31 12722146 frs-core:ComputerEquipment 2022-12-31 12722146 frs-core:FurnitureFittings 2023-12-31 12722146 frs-core:FurnitureFittings 2023-01-01 2023-12-31 12722146 frs-core:FurnitureFittings 2022-12-31 12722146 frs-core:MotorVehicles 2023-12-31 12722146 frs-core:MotorVehicles 2023-01-01 2023-12-31 12722146 frs-core:MotorVehicles 2022-12-31 12722146 frs-core:ShareCapital 2023-12-31 12722146 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 12722146 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12722146 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 12722146 frs-bus:SmallEntities 2023-01-01 2023-12-31 12722146 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12722146 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12722146 frs-bus:Director1 2023-01-01 2023-12-31 12722146 frs-bus:Director2 2023-01-01 2023-12-31 12722146 frs-countries:EnglandWales 2023-01-01 2023-12-31 12722146 2021-12-31 12722146 2022-12-31 12722146 2022-01-01 2022-12-31 12722146 frs-core:CurrentFinancialInstruments 2022-12-31 12722146 frs-core:ShareCapital 2022-12-31 12722146 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 12722146
Kids INC Residential Services Ltd
Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12722146
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 163,054 151,201
163,054 151,201
CURRENT ASSETS
Debtors 5 438,410 86,991
Cash at bank and in hand 347,808 75,776
786,218 162,767
Creditors: Amounts Falling Due Within One Year 6 (871,858 ) (247,759 )
NET CURRENT ASSETS (LIABILITIES) (85,640 ) (84,992 )
TOTAL ASSETS LESS CURRENT LIABILITIES 77,414 66,209
NET ASSETS 77,414 66,209
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 77,314 66,109
SHAREHOLDERS' FUNDS 77,414 66,209
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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 Sureeta Kamari Nayyar Abassi
Director
20/09/2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Kids INC Residential Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12722146 . The registered office is 72 Oakdale Drive, Heald Green, Cheadle, SK8 3SW.
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:
Motor Vehicles 25 Reducing balance
Fixtures & Fittings 25 Reducing balance
Computer Equipment 25 Reducing balance
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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 38 (2022: 20)
38 20
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4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 8,225 191,910 5,668 205,803
Additions 23,806 24,481 17,917 66,204
As at 31 December 2023 32,031 216,391 23,585 272,007
Depreciation
As at 1 January 2023 3,178 49,907 1,517 54,602
Provided during the period 7,213 41,621 5,517 54,351
As at 31 December 2023 10,391 91,528 7,034 108,953
Net Book Value
As at 31 December 2023 21,640 124,863 16,551 163,054
As at 1 January 2023 5,047 142,003 4,151 151,201
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 257,795 78,338
Prepayments and accrued income 29,537 7,460
Other debtors 150,107 -
Net wages 971 1,193
438,410 86,991
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 78,320 1,505
Corporation tax 37,659 15,316
Other taxes and social security 18,851 9,496
Other creditors 8,263 3,121
Accruals and deferred income 600,455 91,576
Directors' loan accounts 128,310 126,745
871,858 247,759
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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