Company registration number 09471280 (England and Wales)
KIT & KIN LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
KIT & KIN LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
KIT & KIN LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
102,093
114,195
Tangible assets
4
9,151
6,074
111,244
120,269
Current assets
Stocks
5
448,875
377,472
Debtors
6
1,278,767
778,603
Cash at bank and in hand
516,929
278,935
2,244,571
1,435,010
Creditors: amounts falling due within one year
7
(1,523,411)
(1,195,300)
Net current assets
721,160
239,710
Total assets less current liabilities
832,404
359,979
Creditors: amounts falling due after more than one year
8
(97,984)
(108,426)
Net assets
734,420
251,553
Capital and reserves
Called up share capital
9
128
125
Share premium account
1,996,594
1,458,839
Profit and loss reserves
(1,262,302)
(1,207,411)
Total equity
734,420
251,553
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
KIT & KIN LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
31 March 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 17 July 2025 and are signed on its behalf by:
I M John
Director
Company registration number 09471280 (England and Wales)
KIT & KIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information
Kit & Kin Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22 Wycombe End, Beaconsfield, Buckinghamshire, HP9 1NB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable for the sale of goods in the normal course of business, and is shown net of discounts and VAT.
Revenue arises from the sale of ecological disposable nappies and other baby products and is recognised when the customer accepts delivery of the goods.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Patents & licences
over the length of the registration
Development costs
33% straight line
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
KIT & KIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” to all of its financial instruments.
Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.
Basic financial liabilities
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
KIT & KIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
13
12
3
Intangible fixed assets
Other
£
Cost
At 1 April 2024
378,898
Additions
68,167
At 31 March 2025
447,065
Amortisation and impairment
At 1 April 2024
264,703
Amortisation charged for the year
80,269
At 31 March 2025
344,972
Carrying amount
At 31 March 2025
102,093
At 31 March 2024
114,195
KIT & KIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024
15,643
Additions
7,362
Disposals
(4,259)
At 31 March 2025
18,746
Depreciation and impairment
At 1 April 2024
9,569
Depreciation charged in the year
4,253
Eliminated in respect of disposals
(4,227)
At 31 March 2025
9,595
Carrying amount
At 31 March 2025
9,151
At 31 March 2024
6,074
5
Stocks
2025
2024
£
£
Stocks
448,875
377,472
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
731,023
428,584
Other debtors
138,704
74,304
869,727
502,888
2025
2024
Amounts falling due after more than one year:
£
£
Deferred tax asset
409,040
275,715
Total debtors
1,278,767
778,603
KIT & KIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,443
10,183
Trade creditors
1,300,092
1,073,493
Taxation and social security
30,891
26,902
Other creditors
181,985
84,722
1,523,411
1,195,300
Bank loans of £10,443 (2024 - £10,183) are secured by way of a fixed and floating charge over all the assets of the company.
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
2,651
13,093
Other creditors
95,333
95,333
97,984
108,426
Bank loans of £2,651 (2024 - £13,093) are secured by way of a fixed and floating charge over all the assets of the company.
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.0005p each
16,255,537
15,634,341
81
77
Ordinary B shares of 0.0005p each
4,705,848
4,705,848
24
24
Ordinary C shares of 0.0005p each
4,664,730
4,664,730
23
23
25,626,115
25,004,919
128
125
On 12 April 2024 2,889 shares with a nominal value of 0.000005 were allotted and on 2 July 2024 618,307 shares were allotted with a nominal value of 0.000005.