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Registered number: 06496839
Kairos Innovations Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Inchmead Accountants
100 Berkshire Place
Winnersh
Wokingham
RG41 5RD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 06496839
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 100,000 100,000
100,000 100,000
CURRENT ASSETS
Cash at bank and in hand 10,633 10,633
10,633 10,633
Creditors: Amounts Falling Due Within One Year 5 (57,501 ) (56,580 )
NET CURRENT ASSETS (LIABILITIES) (46,868 ) (45,947 )
TOTAL ASSETS LESS CURRENT LIABILITIES 53,132 54,053
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,523 ) (11,523 )
NET ASSETS 41,609 42,530
CAPITAL AND RESERVES
Called up share capital 6 1 1
Fair value reserve 7 49,126 49,126
Profit and Loss Account (7,518 ) (6,597 )
SHAREHOLDERS' FUNDS 41,609 42,530
Page 1
Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 James Sharpe
Director
15 November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Kairos Innovations Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06496839 . The registered office is Inchmead Suite , 100 Berkshire Place, Winnersh, Wokingham, RG41 5RD.
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.
2.3. 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.
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
4. Investment Property
2024
£
Fair Value
As at 1 March 2023 and 29 February 2024 100,000
Page 3
Page 4
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) -
Accruals and deferred income 4,320 3,600
Director's loan account 53,182 52,980
57,501 56,580
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
7. Reserves
Fair Value Reserve
£
As at 1 March 2023 49,126
As at 29 February 2024 49,126
Page 4