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Registered number: 14498852
Solihull Kiddicare Ltd
Financial Statements
For The Year Ended 31 October 2024
NJR Accountancy Services Limited
14 Victoria Square
Droitwich Spa
Worcestershire
WR9 8DS
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 14498852
31 October 2024 31 October 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 96,000 116,000
Tangible Assets 5 56,295 48,106
152,295 164,106
CURRENT ASSETS
Debtors 6 7,827 13,090
Cash at bank and in hand 4,780 18,963
12,607 32,053
Creditors: Amounts Falling Due Within One Year 7 (259,033 ) (161,113 )
NET CURRENT ASSETS (LIABILITIES) (246,426 ) (129,060 )
TOTAL ASSETS LESS CURRENT LIABILITIES (94,131 ) 35,046
Creditors: Amounts Falling Due After More Than One Year 8 (88,465 ) (108,774 )
NET LIABILITIES (182,596 ) (73,728 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Income Statement (182,597 ) (73,729 )
SHAREHOLDERS' FUNDS (182,596) (73,728)
Page 1
Page 2
For the year ending 31 October 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 her 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 Income Statement.
On behalf of the board
Mrs G Sharma
Director
9th January 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Solihull Kiddicare Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14498852 . The registered office is 14 Victoria Square, Droitwich, WR9 8DS.
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. 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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of five years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Improvements to Property 5% on cost
Leasehold Not provided
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 14)
15 14
4. Intangible Assets
Goodwill Patents and Licences Total
£ £ £
Cost
As at 1 November 2023 100,000 36,000 136,000
As at 31 October 2024 100,000 36,000 136,000
Amortisation
As at 1 November 2023 20,000 - 20,000
Provided during the period 20,000 - 20,000
As at 31 October 2024 40,000 - 40,000
...CONTINUED
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Net Book Value
As at 31 October 2024 60,000 36,000 96,000
As at 1 November 2023 80,000 36,000 116,000
5. Tangible Assets
Land & Property
Improvements to Property Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2023 24,430 4,527 25,442 1,717 56,116
Additions 15,267 - - - 15,267
As at 31 October 2024 39,697 4,527 25,442 1,717 71,383
Depreciation
As at 1 November 2023 1,221 - 6,360 429 8,010
Provided during the period 1,985 - 4,771 322 7,078
As at 31 October 2024 3,206 - 11,131 751 15,088
Net Book Value
As at 31 October 2024 36,491 4,527 14,311 966 56,295
As at 1 November 2023 23,209 4,527 19,082 1,288 48,106
6. Debtors
31 October 2024 31 October 2023
£ £
Due within one year
Other debtors 7,827 13,090
7. Creditors: Amounts Falling Due Within One Year
31 October 2024 31 October 2023
£ £
Trade creditors 2,623 1,129
Bank loans and overdrafts 33,972 19,777
Amounts owed to group undertakings 186,568 108,622
Other creditors 25,145 21,354
Taxation and social security 10,725 10,231
259,033 161,113
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8. Creditors: Amounts Falling Due After More Than One Year
31 October 2024 31 October 2023
£ £
Bank loans 88,465 108,774
9. Share Capital
31 October 2024 31 October 2023
£ £
Allotted, Called up and fully paid 1 1
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