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Registration number: 10889557

Invest For Kids Ltd



Filleted Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Invest For Kids Ltd

 

(Registration number: 10889557)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

140,000

140,000

Current assets

 

Debtors

5

70,500

70,500

Cash at bank and in hand

 

709

485

 

71,209

70,985

Creditors: Amounts falling due within one year

6

(74,540)

(74,214)

Net current liabilities

 

(3,331)

(3,229)

Total assets less current liabilities

 

136,669

136,771

Creditors: Amounts falling due after more than one year

6

(82,116)

(80,753)

Provisions for liabilities

(8,765)

(8,765)

Net assets

 

45,788

47,253

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

8,321

9,786

Non-distributable reserve

 

37,367

37,367

Total equity

 

45,788

47,253

 

Invest For Kids Ltd

 

(Registration number: 10889557)
Balance Sheet as at 31 July 2024

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

Directors' 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 directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 May 2025 and signed on its behalf by:
 

.........................................
Mr C M Hassell
Director

 

Invest For Kids Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
2ND Floor - Parkgates
Bury New Road
Prestwich
Manchester
M25 0TL
England

These financial statements were authorised for issue by the Board on 6 May 2025.

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

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 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Invest For Kids Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Invest For Kids Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Investment properties

2024
£

At 1 August 23

140,000

At 31 July 24

140,000

There has been no valuation of investment property by an independent valuer.

The historical cost of the property is £93,867.

5

Debtors

Current

2024
£

2023
£

Other debtors

70,500

70,500

 

70,500

70,500

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

-

2,500

Taxation and social security

 

4,381

4,347

Accruals and deferred income

 

2,738

2,095

Other creditors

 

67,421

65,272

 

74,540

74,214

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

82,116

80,753

Creditors include bank loans which are secured of £82,116 (2022 - £80,753).