Registration number:
Kino Design Limited
for the Year Ended 30 April 2024
Kino Design Limited
Contents
Company Information |
|
Accountants' Report |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Kino Design Limited
Company Information
Director |
A J L Bignell |
Company secretary |
M B Bignell |
Registered office |
|
Accountants |
|
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.
......................................
Chartered Accountants
Champions Way
Hendon
London
NW4 1PX
Kino Design Limited
(Registration number: 08989980)
Balance Sheet as at 30 April 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
( |
( |
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Provisions for liabilities |
- |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
( |
( |
|
Shareholders' deficit |
( |
( |
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 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
.........................................
A J L Bignell
Director
Kino Design Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
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.
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
Recognition and measurement
Employee information |
The average number of persons employed by the company, including the director, during the year, was
Intangible assets |
Goodwill |
Total |
|
Cost |
||
At 1 May 2023 |
|
|
At 30 April 2024 |
|
|
Amortisation |
||
At 1 May 2023 |
|
|
At 30 April 2024 |
|
|
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
Tangible assets |
Furniture & fittings |
Office & Computer equipment |
Total |
|
Cost |
|||
At 1 May 2023 |
|
|
|
Disposals |
( |
( |
( |
At 30 April 2024 |
|
|
|
Depreciation |
|||
At 1 May 2023 |
|
|
|
Charge for the year |
|
|
|
Eliminated on disposal |
( |
( |
( |
At 30 April 2024 |
|
|
|
Carrying amount |
|||
At 30 April 2024 |
|
|
|
At 30 April 2023 |
|
|
|
Debtors |
2024 |
2023 |
|
Trade debtors |
|
|
Corporation tax refund |
|
|
Prepayments |
|
|
|
|
Kino Design Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Creditors |
Note |
2024 |
2023 |
|
Due within one year |
|||
Bounce Back loan |
|
|
|
Trade creditors |
|
|
|
Director's loan |
|
|
|
Social security and other taxes |
|
|
|
Other creditors |
|
|
|
|
|
||
Due after one year |
|||
Bounce Back loan |
21,158 |
23,333 |
The Bounce Back loan is secured by guarantee provided by the UK government.
Provisions for liabilities |
Deferred tax |
|
At 1 May 2023 |
|
Decrease in existing provisions |
( |
At 30 April 2024 |
- |
|
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
100,000 |
|
100,000 |
Kino Design Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Related party transactions |
Loan from director
2024 |
£ |
At start of year |
|
Advanced during the year |
|
At end of year |
|
|
2023 |
£ |
At start of year |
|
Repaid during the year |
( |
At end of year |
|
|
Terms of loans from related parties
Control |
The company is controlled by A J L Bignell by virtue of his 100% beneficial holding in the company.