The House Of Kaizen Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04967817 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

THE HOUSE OF KAIZEN LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Chartered accountants' report

8

DIRECTORS:

D A Shiell

O Rice

Ms C Smith

SECRETARY:

D A Shiell

REGISTERED OFFICE:

Kemp House

152-160 City Road

London

EC1V 2NX

REGISTERED NUMBER:

04967817 (England and Wales)

ACCOUNTANTS:

Z group

Room 405

Highland House

165 The Broadway

London

SW19 1NE

SOLICITORS:

Downs Solicitors LLP

156 High Street

Dorking

Surrey

RH4 1BQ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

11,302

17,360

Investments

6

-

1,000

11,302

18,360

CURRENT ASSETS

Debtors

7

160,385

562,013

Cash at bank

83,053

1,374,044

243,438

1,936,057

CREDITORS

Amounts falling due within one year

8

218,668

320,349

NET CURRENT ASSETS

24,770

1,615,708

TOTAL ASSETS LESS CURRENT LIABILITIES

36,072

1,634,068

PROVISIONS FOR LIABILITIES

9

1,533

2,550

NET ASSETS

34,539

1,631,518

CAPITAL AND RESERVES

Called up share capital

1,008

1,008

Capital redemption reserve

592

592

Retained earnings

32,939

1,629,918

34,539

1,631,518

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2022 and were signed on its behalf by:

D A Shiell - Director

O Rice - Director

Ms C Smith - Director

1.	STATUTORY INFORMATION

The House Of Kaizen Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

RELATED PARTY EXEMPTION

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Amortisation is provided on the following bases:

Developmental expenditure

-

20% Straight Line

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it ot be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office furniture and equipment

-

20%

Computer equipment

-

50%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a charge is attributable to an item of income and expense recognised as other comprehensive Income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:

*

The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits: and

*

Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair value reserves of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

FOREIGN CURRENCIES

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

IMPAIRMENT OF FIXED ASSETS AND GOODWILL

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which they are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2020 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 January 2021

and 31 December 2021

88,780

AMORTISATION

At 1 January 2021

and 31 December 2021

88,780

NET BOOK VALUE

At 31 December 2021

-

At 31 December 2020

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2021

and 31 December 2021

51,294

70,564

121,858

DEPRECIATION

At 1 January 2021

34,855

69,643

104,498

Charge for year

5,353

705

6,058

At 31 December 2021

40,208

70,348

110,556

NET BOOK VALUE

At 31 December 2021

11,086

216

11,302

At 31 December 2020

16,439

921

17,360

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2021

1,000

Disposals

(1,000

)

At 31 December 2021

-

NET BOOK VALUE

At 31 December 2021

-

At 31 December 2020

1,000

The Company owns 100% of issued ordinary £1 share capital of Arc Science Limited

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

151,535

318,775

Amounts owed by group undertakings

2,031

-

Other debtors

2,130

30,295

VAT

-

9,830

Prepayments and accrued income

4,689

203,113

160,385

562,013

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade creditors

35,204

112,638

Amounts owed to group undertakings

-

1,500

Taxation and social security

24,837

29,216

Other creditors

158,627

176,995

218,668

320,349

9.	PROVISIONS FOR LIABILITIES

31.12.21

31.12.20

£

£

Deferred tax

1,533

2,550

Deferred

tax

£

Balance at 1 January 2021

2,550

Credit to Income statement during year

(1,017

)

Balance at 31 December 2021

1,533

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance sheet. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The House Of Kaizen Limited for the year ended 31 December 2021 which comprise the Income statement, Balance sheet, Statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The House Of Kaizen Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The House Of Kaizen Limited and state those matters that we have agreed to state to the Board of Directors of The House Of Kaizen Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The House Of Kaizen Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The House Of Kaizen Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The House Of Kaizen Limited. You consider that The House Of Kaizen Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The House Of Kaizen Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Z group

Room 405

Highland House

165 The Broadway

London

SW19 1NE

Date: .............................................