Kind Canyon Digital Limited - Period Ending 2019-12-31

Kind Canyon Digital Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Kind Canyon Digital Limited

Company Information

Director

Mr P Cornforth

Company secretary

Mr J Cornforth

Registered office

Ashcombe Court Woolsack Way Godalming Surrey GU7 1LQ

Accountants

Azets Ashcombe Court Woolsack Way Godalming Surrey GU7 1LQ

Kind Canyon Digital Limited

(Registration number: 05480030)
Balance Sheet as at 31 December 2019

	Note	2019 £	2018 £
Current assets
Debtors	6	1,377	1,528
Cash at bank and in hand		1,530	877
		2,907	2,405
Creditors: Amounts falling due within one year	7	(281,819)	(276,323)
Net liabilities		(278,912)	(273,918)
Capital and reserves
Called up share capital	8	1	1
Profit and loss account		(278,913)	(273,919)
Shareholders' deficit		(278,912)	(273,918)

For the financial period ending 31 December 2019 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 period 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 26 March 2021
 

Mr P Cornforth
Director

Kind Canyon Digital Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2018 to 31 December 2019

1	General information

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

The company was formerly known as Kind Canyon Records Limited.

The address of its registered office is:
Ashcombe Court
Woolsack Way
Godalming
Surrey
GU7 1LQ

The principal place of business is:
56 Underhill Road
London
SE22 0QT

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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, as the director continues to provide financial support to the company.

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.

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.

Kind Canyon Digital Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2018 to 31 December 2019

2	Accounting policies (continued)

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Asset class	Depreciation method and rate
Office equipment	25% on cost
Studio equipment	25% on cost

Website development costs

Website development costs, being the amount paid in connection with developing the company website, is being amortised evenly over its estimated useful life of three years.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2018 - 1).

Kind Canyon Digital Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2018 to 31 December 2019

4	Intangible assets

	Website development costs  £	Total £
Cost or valuation
At 1 July 2018	2,000	2,000
At 31 December 2019	2,000	2,000
Amortisation
At 1 July 2018	2,000	2,000
At 31 December 2019	2,000	2,000
Carrying amount
At 31 December 2019	-	-

5	Tangible assets

	Studio equipment  £	Office equipment  £	Total £
Cost or valuation
At 1 July 2018	6,390	2,493	8,883
At 31 December 2019	6,390	2,493	8,883
Depreciation
At 1 July 2018	6,390	2,493	8,883
At 31 December 2019	6,390	2,493	8,883
Carrying amount
At 31 December 2019	-	-	-

6

Debtors

	2019 £	2018 £
Other debtors	1,377	1,528
	1,377	1,528

Kind Canyon Digital Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2018 to 31 December 2019

7

Creditors

	2019 £	2018 £
Due within one year
Trade creditors	-	300
Accruals and deferred income	1,080	1,080
Directors' current accounts	280,739	274,943
	281,819	276,323

8	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary shares of £1 each	1	1	1	1

9	Related party transactions

Expenditure with and payables to related parties

2019	Key management £
Amounts payable to related party	280,739

2018	Key management £
Amounts payable to related party	274,943

Terms of loans to related parties
The amount due is a loan balance that has no formal terms, is interest free and repayable on demand.