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REGISTERED NUMBER: 03164001 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

KINETIC CENTRES LIMITED

KINETIC CENTRES LIMITED (REGISTERED NUMBER: 03164001)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


KINETIC CENTRES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs C.L. Smith
Mrs I.C. Southern





SECRETARY: Mrs C.L. Smith





REGISTERED OFFICE: Kinetic Business Centre
Theobald Street
Borehamwood
Herts
WD6 4PJ





REGISTERED NUMBER: 03164001 (England and Wales)





ACCOUNTANTS: Nagler Simmons
Chartered Accountants
5 Beaumont Gate
Shenley Hill
Radlett
WD7 7AR

KINETIC CENTRES LIMITED (REGISTERED NUMBER: 03164001)

ABRIDGED BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,273,927 1,862,194

CURRENT ASSETS
Debtors 5 956,069 876,576
Cash at bank and in hand 424,763 536,098
1,380,832 1,412,674
CREDITORS
Amounts falling due within one year 955,452 1,327,601
NET CURRENT ASSETS 425,380 85,073
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,699,307

1,947,267

CREDITORS
Amounts falling due after more than
one year

(1,075,181

)

-

PROVISIONS FOR LIABILITIES (489,197 ) (230,882 )
NET ASSETS 2,134,929 1,716,385

CAPITAL AND RESERVES
Called up share capital 1,100 1,100
Retained earnings 2,133,829 1,715,285
SHAREHOLDERS' FUNDS 2,134,929 1,716,385

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

KINETIC CENTRES LIMITED (REGISTERED NUMBER: 03164001)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 November 2024 and were signed on its behalf by:





Mrs C.L. Smith - Director


KINETIC CENTRES LIMITED (REGISTERED NUMBER: 03164001)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Kinetic Centres 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Improvements to property - over 50 years
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 1/3 on cost

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 balance sheet date.


KINETIC CENTRES LIMITED (REGISTERED NUMBER: 03164001)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 3,009,607
Additions 1,513,445
Disposals (399,996 )
At 31 March 2024 4,123,056
DEPRECIATION
At 1 April 2023 1,147,413
Charge for year 82,148
Eliminated on disposal (380,432 )
At 31 March 2024 849,129
NET BOOK VALUE
At 31 March 2024 3,273,927
At 31 March 2023 1,862,194

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors - 700,000

KINETIC CENTRES LIMITED (REGISTERED NUMBER: 03164001)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 1,389,868 -

7. RELATED PARTY DISCLOSURES

The company paid £30,000 (2023: £30,000) to its ultimate parent undertaking, Kintek Holdings Limited, in respect of management services received in the year.

8. ULTIMATE CONTROLLING PARTY

Kintek Holdings Limited is regarded by the directors as being the company's ultimate parent company.