Incredible Kids (Hilton) Limited - Period Ending 2016-09-30

Registration number: 08902648

Incredible Kids (Hilton) Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Incredible Kids (Hilton) Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Incredible Kids (Hilton) Limited
(Registration number: 08902648)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					155,382			175,872
Tangible fixed assets		2			219,026			238,825
					374,408			414,697
Current assets
Debtors					17,634			25,900
Cash at bank and in hand					819			227
					18,453			26,127
Creditors: Amounts falling due within one year					(48,782)			(45,676)
Net current liabilities					(30,329)			(19,549)
Total assets less current liabilities					344,079			395,148
Creditors: Amounts falling due after more than one year					(699,315)			(576,006)
Provisions for liabilities					(20,060)			(21,203)
Net liabilities					(375,296)			(202,061)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(375,396)			(202,161)
Shareholders' deficit					(375,296)			(202,061)

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Incredible Kids (Hilton) Limited
(Registration number: 08902648)
Abbreviated Balance Sheet at 30 September 2016
......... continued

For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the director on 20 December 2016

.........................................
S Corbin
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Incredible Kids (Hilton) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on the continued support of the director not requiring the withdrawal of the money owed to them until sufficient funds are available.

If the company were unable to trade, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Income is recognised based on the date goods are despatched and the level of completion of services.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	Straight line over 10 years

Depreciation

Tangible fixed assets are initially recorded at cost. Depreciation is provided on tangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% Reducing Balance
Plant and machinery	25% Reducing Balance
Office equipment	25% Reducing Balance
Short leasehold land and buildings	over term of lease

Deferred tax

Page 3

Incredible Kids (Hilton) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2015		204,900			265,607			470,507
Additions		-			21,630			21,630
At 30 September 2016		204,900			287,237			492,137
Depreciation
At 1 October 2015		29,028			26,782			55,810
Charge for the year		20,490			41,429			61,919
At 30 September 2016		49,518			68,211			117,729
Net book value
At 30 September 2016		155,382			219,026			374,408
At 30 September 2015		175,872			238,825			414,697

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4

Incredible Kids (Hilton) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

4	Related party transactions

Director's advances and credits

	2016 £		2015 £
S Corbin
Closing balance	699,315		576,005

Page 5