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REGISTERED NUMBER: 11500962 (England and Wales)







Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Kinherit Ltd

Kinherit Ltd (Registered number: 11500962)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kinherit Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr T P M King
Mr R L Thomson
Mr B T F Mason





REGISTERED OFFICE: Bradbrooke House
Almondsbury Business Centre
Woodlands
Bristol
BS32 4QH





REGISTERED NUMBER: 11500962 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

Kinherit Ltd (Registered number: 11500962)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,990 9,380
Tangible assets 5 48,529 63,469
Investments 6 100 200
56,619 73,049

CURRENT ASSETS
Debtors 7 48,845 86,208
Cash at bank and in hand 78,866 128,433
127,711 214,641
CREDITORS
Amounts falling due within one year 8 540,722 542,904
NET CURRENT LIABILITIES (413,011 ) (328,263 )
TOTAL ASSETS LESS CURRENT LIABILITIES (356,392 ) (255,214 )

CREDITORS
Amounts falling due after more than one year 9 69,000 92,000
NET LIABILITIES (425,392 ) (347,214 )

CAPITAL AND RESERVES
Called up share capital 12 113 111
Share premium 13 931,189 752,606
Capital redemption reserve 13 4 4
Retained earnings 13 (1,356,698 ) (1,099,935 )
SHAREHOLDERS' FUNDS (425,392 ) (347,214 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Kinherit Ltd (Registered number: 11500962)

Balance Sheet - continued
30 September 2024


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

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 17 January 2025 and were signed on its behalf by:





Mr R L Thomson - Director


Kinherit Ltd (Registered number: 11500962)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Kinherit Ltd 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.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33.33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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.

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 25 (2023 - 27 ) .

Kinherit Ltd (Registered number: 11500962)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2023
and 30 September 2024 13,900
AMORTISATION
At 1 October 2023 4,520
Charge for year 1,390
At 30 September 2024 5,910
NET BOOK VALUE
At 30 September 2024 7,990
At 30 September 2023 9,380

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 October 2023 42,985 49,758 92,743
Additions 2,987 1,577 4,564
At 30 September 2024 45,972 51,335 97,307
DEPRECIATION
At 1 October 2023 7,791 21,483 29,274
Charge for year 5,549 13,955 19,504
At 30 September 2024 13,340 35,438 48,778
NET BOOK VALUE
At 30 September 2024 32,632 15,897 48,529
At 30 September 2023 35,194 28,275 63,469

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023 200
Disposals (100 )
At 30 September 2024 100
NET BOOK VALUE
At 30 September 2024 100
At 30 September 2023 200

Kinherit Ltd (Registered number: 11500962)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 10,696 4,583
Amounts owed by group undertakings 3,926 50,766
Other debtors 200 780
Prepayments 34,023 30,079
48,845 86,208

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other loans 23,000 23,000
Trade creditors 25,705 34,256
Tax 9,037 4,483
Social security and other taxes 22,534 30,287
VAT 51,282 50,291
Other creditors 4,381 3,172
Directors' current accounts 397,727 391,510
Accrued expenses 7,056 5,905
540,722 542,904

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Other loans - 1-2 years 23,000 23,000
Other loans - 2-5 years 46,000 69,000
69,000 92,000

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.9.24 30.9.23
£    £   
Within one year 48,409 34,172
Between one and five years 39,867 88,276
88,276 122,448

11. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Other loans 92,000 115,000

Kinherit Ltd (Registered number: 11500962)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
11,305 Ordinary £0.01 113 111
NIL - -
113 111

169 Ordinary shares of £0.01 each were allotted as fully paid at a premium of £1,056.70 per share during the year.

13. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 October 2023 (1,099,935 ) 752,606 4 (347,325 )
Deficit for the year (256,763 ) (256,763 )
Cash share issue - 178,583 - 178,583
At 30 September 2024 (1,356,698 ) 931,189 4 (425,505 )

14. GOING CONCERN

At the year end, the company had net liabilities. However, the directors have confirmed that, in their opinion, the company will be able to meet its liabilities as they fall due for the foreseeable future (being a period not less than twelve months) due to their continued financial support of the company.

Consequently, the company is considered to be a going concern.