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Registered number: 06095988
Kids In Charge (Making a Choice For a Better Future) Ltd
Financial Statements
For The Year Ended 31 August 2024
JR Accounts
Chartered Certified Accountants
164-166 High Road
Ilford
Essex
IG1 1LL
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Director Mr Mervyn Barrett
Company Number 06095988
Registered Office 164-166 High Road
Ilford
Essex
IG1 1LL
Accountants JR Accounts
Chartered Certified Accountants
164-166 High Road
Ilford
Essex
IG1 1LL
Page 1
Page 2
Balance Sheet
Registered number: 06095988
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 24,313 32,027
24,313 32,027
CURRENT ASSETS
Debtors 5 83,395 63,901
Cash at bank and in hand 141,490 75,638
224,885 139,539
Creditors: Amounts Falling Due Within One Year 6 (163,449 ) (119,651 )
NET CURRENT ASSETS (LIABILITIES) 61,436 19,888
TOTAL ASSETS LESS CURRENT LIABILITIES 85,749 51,915
Creditors: Amounts Falling Due After More Than One Year 7 (46,066 ) (48,820 )
NET ASSETS 39,683 3,095
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 39,583 2,995
SHAREHOLDERS' FUNDS 39,683 3,095
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For the year ending 31 August 2024 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 Mervyn Barrett
Director
31 October 2024
The notes on pages 4 to 7 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Kids In Charge (Making a Choice For a Better Future) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06095988 . The registered office is 164-166 High Road, Ilford, Essex, IG1 1LL.
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. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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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 year 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 asset reflects 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
The average number of employees, including the director, during the year was 47 (2023: 49)
47 49
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 65,270 73,880 28,141 167,291
Additions - - 390 390
As at 31 August 2024 65,270 73,880 28,531 167,681
Depreciation
As at 1 September 2023 47,037 63,544 24,683 135,264
Provided during the period 4,558 2,584 962 8,104
As at 31 August 2024 51,595 66,128 25,645 143,368
Net Book Value
As at 31 August 2024 13,675 7,752 2,886 24,313
As at 1 September 2023 18,233 10,336 3,458 32,027
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 60,014 38,633
Other debtors 23,381 25,268
83,395 63,901
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,371 5,157
Trade creditors 11,603 14,270
Corporation tax 26,014 1,047
Social security and other taxes 11,882 4,964
Other creditors 71,223 87,267
Accruals and deferred income 7,956 6,658
Directors' loan accounts 10,500 288
Amounts owed to related parties 18,900 -
163,449 119,651
Amounts owed to related parties include dividends to Sean Clarke, Josiah Barrett and Akua Mclean.
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,527 19,898
Bank loans 18,939 28,922
Amounts owed to related parties 12,600 -
46,066 48,820
Amounts owed to related parties include dividends to Jameela Barrett and Aiyanna Barrett. 
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,437 6,437
Later than one year and not later than five years 14,527 20,964
20,964 27,401
Less: Finance charges allocated to future periods 1,066 2,346
19,898 25,055
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 42,000 42,000
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