2023-06-012024-05-312024-05-31false11372688ACT OF KINDNESS ORGANICS 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ACT OF KINDNESS ORGANICS LTD

Registered Number
11372688
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

ACT OF KINDNESS ORGANICS LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

Michele Carnes Ellis

Registered Address

27 Old Gloucester Street
London
WC1N 3AX

Registered Number

11372688 (England and Wales)
ACT OF KINDNESS ORGANICS LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets37,9399,107
7,9399,107
Current assets
Stocks455,579-
Debtors430-
Cash at bank and on hand2,301572
58,310572
Creditors amounts falling due within one year5(102,934)(68,450)
Net current assets (liabilities)(44,624)(67,878)
Total assets less current liabilities(36,685)(58,771)
Net assets(36,685)(58,771)
Capital and reserves
Called up share capital100100
Profit and loss account(36,785)(58,871)
Shareholders' funds(36,685)(58,771)
The financial statements were approved and authorised for issue by the Director on 31 October 2024, and are signed on its behalf by:
Michele Carnes Ellis
Director
Registered Company No. 11372688
ACT OF KINDNESS ORGANICS LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The financial statements have been prepared on a going concern basis as the shareholders have agreed to support the business.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: Trademarks - Straight line over 10 years
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 June 2311,67611,676
At 31 May 2411,67611,676
Amortisation and impairment
At 01 June 232,5692,569
Charge for year1,1681,168
At 31 May 243,7373,737
Net book value
At 31 May 247,9397,939
At 31 May 239,1079,107
4.Stocks

2024

2023

££
Raw materials and consumables55,579-
Total55,579-
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables4,333-
Amounts owed to related parties97,92068,000
Accrued liabilities and deferred income681450
Total102,93468,450
6.Related party transactions
The director maintains an interest free loan with the company. The balance owed to the director as at 31 May 2024 was £97,920 (2023 - £68,000).