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Registration number: 04717056

Kidz Planet Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Kidz Planet Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Kidz Planet Limited

Company Information

Director

Mr NB Tyler

Company secretary

Mrs C Tyler

Registered office

Units 1 & 2 Centurion Park
Caesars Way
Folkestone
Kent
CT19 4AH

 

Kidz Planet Limited

(Registration number: 04717056)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

133,695

129,312

Current assets

 

Stocks

5

5,000

5,000

Debtors

6

671,167

676,099

Cash at bank and in hand

 

294,033

723,400

 

970,200

1,404,499

Creditors: Amounts falling due within one year

7

(192,202)

(381,917)

Net current assets

 

777,998

1,022,582

Total assets less current liabilities

 

911,693

1,151,894

Creditors: Amounts falling due after more than one year

7

(30,828)

(36,112)

Provisions for liabilities

(13,681)

(8,855)

Net assets

 

867,184

1,106,927

Capital and reserves

 

Called up share capital

2

2

Retained earnings

867,182

1,106,925

Shareholders' funds

 

867,184

1,106,927

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 March 2025
 

 

Kidz Planet Limited

(Registration number: 04717056)
Balance Sheet as at 30 June 2024 (continued)

.........................................
Mr NB Tyler
Director

   
     
 

Kidz Planet Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Units 1 & 2 Centurion Park
Caesars Way
Folkestone
Kent
CT19 4AH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Kidz Planet Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the 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.

Tangible assets

Tangible assets are stated in the balance sheet at 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold costs & improvements

10% straight line

Motor vehicles

25% reducing balance

Fixtures & fittings

10 - 15% straight line

Office equipment

15 - 20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Kidz Planet Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 50 (2023 - 49).

 

Kidz Planet Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

281,072

263,437

278,999

4,950

828,458

Additions

-

-

1,486

52,750

54,236

At 30 June 2024

281,072

263,437

280,485

57,700

882,694

Depreciation

At 1 July 2023

198,625

250,136

245,807

4,578

699,146

Charge for the year

24,695

5,527

10,746

8,885

49,853

At 30 June 2024

223,320

255,663

256,553

13,463

748,999

Carrying amount

At 30 June 2024

57,752

7,774

23,932

44,237

133,695

At 30 June 2023

82,447

13,301

33,192

372

129,312

 

Kidz Planet Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

5

Stocks

2024
£

2023
£

Raw materials and consumables

5,000

5,000

6

Debtors

2024
£

2023
£

Trade debtors

458

2,613

Prepayments

19,826

22,468

Other debtors

650,883

651,018

671,167

676,099

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

121,651

182,887

Trade creditors

 

33,481

37,639

Taxation and social security

 

19,322

125,147

Accruals and deferred income

 

12,290

31,732

Other creditors

 

5,458

4,512

 

192,202

381,917

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

30,828

36,112

 

Kidz Planet Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

30,828

36,112

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,433

5,379

Directors current account

116,218

177,508

121,651

182,887

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £Nil (2023 - £30,000.00) per each Ordinary

-

60,000

 

 

10

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

15,600

15,600

Contributions paid to money purchase schemes

240,000

-

255,600

15,600

 

Kidz Planet Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

10

Related party transactions (continued)

Expenditure with and payables to related parties

2024

Entities with joint control or significant influence
£

Rendering of services

78,506

2023

Entities with joint control or significant influence
£

Rendering of services

63,016

Loans to related parties

2024

Entities with joint control or significant influence
£

Total
£

At start of period

642,127

642,127

Advanced

3,903

3,903

At end of period

646,030

646,030

2023

Entities with joint control or significant influence
£

Total
£

At start of period

641,974

641,974

Advanced

153

153

At end of period

642,127

642,127

Terms of loans to related parties

There are no terms of repayment or interest charged on loans owed by entities with joint control or significant influence.
 

 

Kidz Planet Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

10

Related party transactions (continued)

Loans from related parties

2024

Key management
£

Total
£

At start of period

177,508

177,508

Repaid

(61,289)

(61,289)

At end of period

116,219

116,219

2023

Key management
£

Total
£

At start of period

113,578

113,578

Advanced

63,930

63,930

At end of period

177,508

177,508

Terms of loans from related parties

There are no terms of repayment or interest charged on the loans owed to key management.