Loved by Kids Limited - Accounts to registrar (filleted) - small 22.3
Loved by Kids Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| FOR |
| LOVED BY KIDS LIMITED |
| LOVED BY KIDS LIMITED (REGISTERED NUMBER: 08524555) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| LOVED BY KIDS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| Statutory Auditor |
| 89 High Street |
| Hadleigh |
| Ipswich |
| Suffolk |
| IP7 5EA |
| LOVED BY KIDS LIMITED (REGISTERED NUMBER: 08524555) |
| BALANCE SHEET |
| 30 JUNE 2022 |
| 2022 | 2021 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | 9 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| LOVED BY KIDS LIMITED (REGISTERED NUMBER: 08524555) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| 1. | STATUTORY INFORMATION |
| Loved by Kids Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the sales of goods and services, is recognised on dispatch of the goods or provision of the service and excludes value added tax. |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans from / to related parties. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| LOVED BY KIDS LIMITED (REGISTERED NUMBER: 08524555) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| The accounts have been prepared on the going concern basis. The directors have reviewed the company's performance and are confident that, with the continued support of the company's parent company and fellow subsidiaries, the company has sufficient facilities to continue trading for the foreseeable future. |
| Development costs |
| The capitalised development costs relate to web and animation costs and will be written off over five years. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 July 2021 |
| and 30 June 2022 |
| AMORTISATION |
| At 1 July 2021 |
| and 30 June 2022 |
| NET BOOK VALUE |
| At 30 June 2022 |
| At 30 June 2021 |
| 5. | DEBTORS |
| 2022 | 2021 |
| £ | £ |
| Amounts falling due within one year: |
| Other debtors |
| Amounts falling due after more than one year: |
| Amounts owed by group undertakings |
| Aggregate amounts |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| LOVED BY KIDS LIMITED (REGISTERED NUMBER: 08524555) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Amounts owed to group undertakings |
| 8. | SECURED DEBTS |
| The bank borrowings are secured by a mortgage debenture dated 11 October 1999 incorporating a fixed and floating charge over all current and future assets and an inter-company guarantee dated 5 August 2013 on all the assets of company, and Imagine That Group Ltd (parent), Imagine That Publishing Ltd and Playcreate Media Ltd (wholly owned subsidiaries). |
| Bank borrowings are guaranteed by B J and Mrs E Henderson up to a limit of £1,400,000 supported by a first legal charge over personal property. |
| 9. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 July 2021 | ( |
) |
| Profit for the year |
| At 30 June 2022 | ( |
) |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 11. | ULTIMATE CONTROLLING PARTY |
| The company is a wholly owned subsidiary of Imagine That Group Ltd, a company incorporated in the UK. The registered office of the parent company is 89 High Street, Hadleigh, Ipswich, Suffolk, IP7 5EA. |