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Registered number: 12983265
Kindr International Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Quest Accounting Services Limited
Suite 110, The Pinnacle
170 Midsummer Boulevard
Milton Keynes
MK9 1FD
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kindr International Ltd for the year ended year which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.
This report is made solely to the directors of Kindr International Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kindr International Ltd and state those matters that we have agreed to state to the directors of Kindr International Ltd in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.
It is your duty to ensure that Kindr International Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kindr International Ltd . You consider that Kindr International Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Kindr International Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Signed
20th June 2024
Quest Accounting Services Limited
Suite 110, The Pinnacle
170 Midsummer Boulevard
Milton Keynes
MK9 1FD
Page 1
Page 2
Balance Sheet
Registered number: 12983265
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 10,184,088 230,437
Tangible Assets 5 2,410 4,827
10,186,498 235,264
CURRENT ASSETS
Debtors 6 82,965 71,335
Cash at bank and in hand 1 28,712
82,966 100,047
Creditors: Amounts Falling Due Within One Year 7 (6,067 ) (306,646 )
NET CURRENT ASSETS (LIABILITIES) 76,899 (206,599 )
TOTAL ASSETS LESS CURRENT LIABILITIES 10,263,397 28,665
Creditors: Amounts Falling Due After More Than One Year 8 (418,150 ) (1,042,688 )
NET ASSETS/(LIABILITIES) 9,845,247 (1,014,023 )
CAPITAL AND RESERVES
Called up share capital 9 4,755 1,028
Share premium account 1,076,242 124,987
Revaluation reserve 10 10,000,000 -
Profit and Loss Account (1,235,750 ) (1,140,038 )
SHAREHOLDERS' FUNDS 9,845,247 (1,014,023)
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For the year ending 31 October 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
Mr Jay Boisvert
Director
20th June 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Kindr International Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12983265 . The registered office is Suite 110, The Pinnacle 170 Midsummer Boulevard, Milton Keynes, MK9 1FD.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The Directors believe there is enough financial support to continue trading for the following 12 months.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Research and Development
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development
expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
2.5. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are internal developments of intangible software. It is amortised to the profit and loss account over a 10% reducing balance basis.
2.6. 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:
Plant & Machinery 25% Straight Line
2.7. 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: 5 (2022: 4)
5 4
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4. Intangible Assets
Other Development Costs Total
£ £ £
Cost or Valuation
As at 1 November 2022 - 277,575 277,575
Additions - (20,745 ) (20,745 )
Revaluations 10,000,000 - 10,000,000
As at 31 October 2023 10,000,000 256,830 10,256,830
Amortisation
As at 1 November 2022 - 47,138 47,138
Provided during the period - 25,604 25,604
As at 31 October 2023 - 72,742 72,742
Net Book Value
As at 31 October 2023 10,000,000 184,088 10,184,088
As at 1 November 2022 - 230,437 230,437
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 November 2022 9,661
As at 31 October 2023 9,661
Depreciation
As at 1 November 2022 4,834
Provided during the period 2,417
As at 31 October 2023 7,251
Net Book Value
As at 31 October 2023 2,410
As at 1 November 2022 4,827
6. Debtors
2023 2022
£ £
Due within one year
Other debtors - 30,385
R&D Current Asset 80,760 -
VAT 2,205 40,950
82,965 71,335
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 77,854
Other taxes and social security - 69,628
Other creditors 6,067 150,000
Pensions - 6,164
Accruals and deferred income - 3,000
6,067 306,646
Included within Creditors due within one year is a deposit of £150,000 received for a share purchase finalised at a premium after the balance sheet date.
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Trade creditors 72,091 -
Other loans 4,670 -
Other creditors 25,000 679,983
Directors loan account 316,389 362,705
418,150 1,042,688
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 4,755 1,028
10. Reserves
Revaluation Reserve
£
Surplus on revaluation 10,000,000
As at 31 October 2023 10,000,000
Page 6