Kites and Bites Ltd - Accounts

Kites and Bites Ltd - Accounts

OUTTABOX LTD - Company Information

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Registered Number: 09270053
England and Wales

 

 

 

KITES AND BITES LTD


Abridged Accounts
 


Period of accounts

Start date: 01 November 2020

End date: 31 October 2021

Kites and Bites Ltd
Contents Page
For the year ended 31 October 2021
Report of the accountant to the director of KITES AND BITES LTD.

These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfill your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended on 31/10/2021.


We have prepared these finance statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.

On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a true and fair view.


You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.

The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.


For and on behalf of



....................................................
Priority Point Ltd
1 Sigma Business Centre
7 Havelock Place
Harrow
HA1 1LJ
28 July 2022
1
 
 		 Notes
 		 2021
£		   2020
£
Current assets      
Stocks 12,407    13,421 
Cash at bank and in hand 1,570    3,303 
13,977    16,724 
Creditors: amount falling due within one year (65,711)   (65,709)
Net current liabilities (51,734)   (48,985)
 
Total assets less current liabilities (51,734)   (48,985)
Net liabilities (51,734)   (48,985)
 

Capital and reserves 		     
Called up share capital 1    1 
Profit and loss account (51,735)   (48,986)
Shareholder's funds (51,734)   (48,985)
 


For the year ended 31 October 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 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 and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 28 July 2022 and were signed by:


--------------------------------
Ioana Alexandra URSAN
Director
2
General Information
Kites and Bites Ltd is a private company, limited by shares, registered in England and Wales, registration number 09270053, registration address 64 Nile Street , London, N1 7SR

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods supplied by the company, net of trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 2 Straight Line
Computer Equipment 2 Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

The average number of employees is zero.

Average number of employees during the year was 0 (2020 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 November 2020 310    449    759 
Additions -    -    - 
Disposals -    -    - 
At 31 October 2021 310    449    759 
Depreciation
At 01 November 2020 310    449    759 
Charge for year -    -    - 
On disposals -    -    - 
At 31 October 2021 310    449    759 
Net book values
Closing balance as at 31 October 2021 -    -    - 
Opening balance as at 01 November 2020 -    -    - 


4.

Share Capital

Allotted, called up and fully paid
2021
£		   2020
£
1 Class A share of £1.00 each 1    1 
1    1 

5.

General information

The company is a private company limited by shares and is registered in England and Wales, with registration number 09270053. The address of the registered office is International House, 64 Nile Street, London, N1 7SR.
6.

Period covered by the financial statements

The period covered by the financial statements is 01/11/2020 - 31/10/2021.
7.

Rounding

All figures in the current report have been rounded up to the nearest pound.
8.

Consent to abridgement

All members have consented to the drawing up of an abridged accounts in accordance with Section 444(2A) of the Companies Act 2006.
9.

Profit & Loss Account note

The Profit and Loss Account and director's report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.
3