KID INC LIMITED

Company Registration Number:
09141789 (England and Wales)

Unaudited abridged accounts for the year ended 31 July 2024

Period of accounts

Start date: 01 August 2023

End date: 31 July 2024

KID INC LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2024

Balance sheet
Notes

KID INC LIMITED

Balance sheet

As at 31 July 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 1,173,975 1,209,704
Investments: 4 522,598 522,598
Total fixed assets: 1,696,573 1,732,302
Current assets
Debtors:   89,627 29,350
Cash at bank and in hand: 2 123
Total current assets: 89,629 29,473
Creditors: amounts falling due within one year:   (1,102,487) (1,022,964)
Net current assets (liabilities): (1,012,858) (993,491)
Total assets less current liabilities: 683,715 738,811
Creditors: amounts falling due after more than one year: 5 (683,177) (734,309)
Total net assets (liabilities): 538 4,502
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 536 4,500
Shareholders funds: 538 4,502

The notes form part of these financial statements

KID INC LIMITED

Balance sheet statements

For the year ending 31 July 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 25 February 2025
and signed on behalf of the board by:

Name: M S Jones
Status: Director

The notes form part of these financial statements

KID INC LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Freehold property - 2% straight line Fittings fixtures and equipment - 15% reducing balance Motor vehicles - 25% reducing balance If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Other accounting policies

Taxation The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Impairment A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. Financial instruments A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

KID INC LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

2. Employees

2024 2023
Average number of employees during the period 2 2

KID INC LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Tangible Assets

Total
Cost £
At 01 August 2023 1,417,921
At 31 July 2024 1,417,921
Depreciation
At 01 August 2023 208,217
Charge for year 35,729
At 31 July 2024 243,946
Net book value
At 31 July 2024 1,173,975
At 31 July 2023 1,209,704

KID INC LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Fixed investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

KID INC LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

5. Creditors: amounts falling due after more than one year note

The bank loans of £757,800 (2023-£806,576) are secured by a charge on the assets of the company and by the personal guarantee of the directors.

KID INC LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

6. Loans to directors

Name of director receiving advance or credit: M S Jones
Description of the loan: Advance
£
Balance at 01 August 2023 8,847
Advances or credits repaid: 8,847
Balance at 31 July 2024 0
Name of director receiving advance or credit: O A Jones
Description of the loan: Advance
£
Balance at 01 August 2023 8,847
Advances or credits repaid: 8,847
Balance at 31 July 2024 0

A charge is registered on the assets of the company in favour of Lloyds Bank plc in respect of personal loans to M S Jones and O A Jones, the directors of the company.

KID INC LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

7. Related party transactions

Name of the related party: Olyness Limited
Relationship:
Associated company
Description of the Transaction: inter company
£
Balance at 01 August 2023 168,473
Balance at 31 July 2024 58,661
Name of the related party: Kiddy World Ltd
Relationship:
Associated company
Description of the Transaction: inter company
£
Balance at 01 August 2023 209,639
Balance at 31 July 2024 189,496
Name of the related party: Oscar Bears Limited
Relationship:
Associated company
Description of the Transaction: intercompany
£
Balance at 01 August 2023 390,300
Balance at 31 July 2024 560,501

Lloyds Bank plc hold an omnibus guarantee and right of set off between Oscar Bears Limited, Olyness Limited, Kiddy World Ltd, 1st Class Nursery Limited and Kid Inc Limited, all of which have M S Jones and O A Jones as directors.