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Registration number: 08989980

Kino Design Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Kino Design Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Kino Design Limited

Company Information

Director

A J L Bignell

Company secretary

M B Bignell

Registered office

Smokehouse Yard
44-46 St John Street
London
EC1M 4DF

Accountants

KSEG
Chartered Accountants
Belfry House
Champions Way
Hendon
London
NW4 1PX

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Financial Statements of
Kino Design Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kino Design Limited for the year ended 30 April 2024, which comprise the statement of comprehensive income, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation/a-z.

It is your duty to ensure that Kino Design Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Kino Design Limited. You consider that Kino Design Limited 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 Kino Design Limited. 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 accounts.

Use of our report

This report is made solely to the director of Kino Design Limited in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Kino Design Limited and state those matters that we have agreed to state to the director of Kino Design Limited, in this report in accordance with ICAEW Technical Release TECH 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kino Design Limited and its director for our work or for this report.

......................................

KSEG
Chartered Accountants
Belfry House
Champions Way
Hendon
London
NW4 1PX

31 January 2025

 

Kino Design Limited

(Registration number: 08989980)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,645

5,489

Current assets

 

Debtors

6

52,926

26,655

Cash at bank and in hand

 

43,251

25,596

 

96,177

52,251

Creditors: Amounts falling due within one year

7

(365,109)

(258,653)

Net current liabilities

 

(268,932)

(206,402)

Total assets less current liabilities

 

(267,287)

(200,913)

Creditors: Amounts falling due after more than one year

7

(21,158)

(23,333)

Provisions for liabilities

8

-

(1,372)

Net liabilities

 

(288,445)

(225,618)

Capital and reserves

 

Called up share capital

9

100,000

100,000

Profit and loss account

(388,445)

(325,618)

Shareholders' deficit

 

(288,445)

(225,618)

For the financial year ended 30 April 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The statement of comprehensive income and director's report are not delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

Approved and authorised for issue by the director on 31 January 2025

.........................................

A J L Bignell

Director

 

Kino Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital and incorporated in England. The registered office address is shown on page 1.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A Small Entities and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The director has considered in detail the company's forecast performance, as well as its capital and liquidity resources. On this basis, the director has a reasonable expectation that despite uncertain market conditions, the company has access to sufficient funds to ensure that the company will continue in operational existence for the forseeable future being a period of at least 12 months from the date on which these financial statements are approved. In making this assessment, the director has taken into account that his loan to the company will not be repaid in circumstances which adversely impact the company's working capital and/ or the ability of the company to meet its liabilities as they fall due.

Having regard to the above, the director believes it is appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Turnover is recognised by reference to stage of completion of the service at the Balance Sheet date.

Tax

The tax expense for the year comprises current and deferred tax, where applicable. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The company's liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

 

Kino Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against suitable future taxable profits.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Current and deferred tax assets and liabilities are not discounted.

Tangible assets

Tangible assets are stated in the balance sheet at historical cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their expected useful lives, as follows:

Asset class

Depreciation method and asset life

Furniture and fittings

Straight line basis over 5 years

Office equipment

Straight line basis over 3 years

Computer equipment

Straight line basis over 3 years

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost over their expected useful life as follows:

Asset class

Amortisation method and asset life

Goodwill

Straight line basis over 5 years

Cash at bank and in hand

This comprise cash at bank.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

 

Kino Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Pension costs

Contributions to the company's defined contribution pension scheme are charged to the profit or loss in the year.

Financial instruments

Classification
Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than its legal form.

 Recognition and measurement
The company's cash at bank, trade and other debtors and trade and other creditors are measured initially at transaction price, and subsequently at amortised cost using the effective interest method.

3

Employee information

The average number of persons employed by the company, including the director, during the year, was 4 (2023 - 5).

4

Intangible assets

Goodwill
 £

Total
£

Cost

At 1 May 2023

4,328,490

4,328,490

At 30 April 2024

4,328,490

4,328,490

Amortisation

At 1 May 2023

4,328,490

4,328,490

At 30 April 2024

4,328,490

4,328,490

Carrying amount

At 30 April 2024

-

-

At 30 April 2023

-

-

 

Kino Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Furniture & fittings
 £

Office & Computer equipment
 £

Total
£

Cost

At 1 May 2023

37,783

105,356

143,139

Disposals

(14,115)

(69,592)

(83,707)

At 30 April 2024

23,668

35,764

59,432

Depreciation

At 1 May 2023

34,210

103,440

137,650

Charge for the year

721

1,239

1,960

Eliminated on disposal

(12,231)

(69,592)

(81,823)

At 30 April 2024

22,700

35,087

57,787

Carrying amount

At 30 April 2024

968

677

1,645

At 30 April 2023

3,573

1,916

5,489

6

Debtors

2024
£

2023
£

Trade debtors

50,838

23,111

Corporation tax refund

273

273

Prepayments

1,815

3,271

 

52,926

26,655

 

Kino Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Bounce Back loan

10,000

10,000

Trade creditors

 

52,393

77,582

Director's loan

10

109,039

68,975

Social security and other taxes

 

110,047

29,976

Other creditors

 

83,630

72,120

 

365,109

258,653

Due after one year

 

Bounce Back loan

 

21,158

23,333

The Bounce Back loan is secured by guarantee provided by the UK government.

8

Provisions for liabilities

Deferred tax
£

At 1 May 2023

1,372

Decrease in existing provisions

(1,372)

At 30 April 2024

-

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100,000

100,000

100,000

100,000

       
 

Kino Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

10

Related party transactions

Loan from director

2024

£

At start of year

68,975

Advanced during the year

40,064

At end of year

109,039

2023

£

At start of year

117,228

Repaid during the year

(48,253)

At end of year

68,975

Terms of loans from related parties

Loan from the director of the company is unsecured, interest free and repayable on demand but only if working capital requirements of the company permit.
 

11

Control

The company is controlled by A J L Bignell by virtue of his 100% beneficial holding in the company.