Kinder Developments Ltd Company Accounts

KINDER DEVELOPMENTS LTD - Company Information

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COMPANY REGISTRATION NUMBER: 09802817

Kinder Developments Ltd

Filleted Unaudited Financial Statements

30 September 2017

Kinder Developments Ltd

Financial Statements

Year ended 30 September 2017

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

Kinder Developments Ltd

Officers and Professional Advisers

Director	Mr M McHale

Registered office	Prospect House
	121 Bury Old Road
	Whitefield
	Manchester
	M45 7AY

Accountants	Rose, Chartered Accountants

	Prospect House
	121 Bury Old Road
	Whitefield
	Manchester
	M45 7AY

Company number 09802817

Kinder Developments Ltd

Statement of Financial Position

30 September 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	4		17,578	23,437

Current assets

Stocks		581,991	344,910
Debtors	5	5,418	18,524
Cash at bank and in hand		227	3,554
		---------	---------
		587,636	366,988

Creditors: amounts falling due within one year	6	624,810		401,981
		---------		---------
Net current liabilities			37,174	34,993
			--------	--------
Total assets less current liabilities			( 19,596)	( 11,556)
			--------	--------
Net liabilities			( 19,596)	( 11,556)
			--------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	( 19,598)	( 11,558)
	--------	--------
Shareholder deficit	( 19,596)	( 11,556)
	--------	--------

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 FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Kinder Developments Ltd

Statement of Financial Position (continued)

30 September 2017

These financial statements were approved by the board of directors and authorised for issue on 22 May 2018 , and are signed on behalf of the board by:

Mr M McHale
Director

Company registration number: 09802817

Kinder Developments Ltd

Notes to the Financial Statements

Year ended 30 September 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Prospect House, 121 Bury Old Road, Whitefield, Manchester, M45 7AY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The company is being financially supported by the director. The loan provided by the director would not be repaid in the foreseeable future, therefore the director considers it appropriate to prepare the financial statements on the going concern basis.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 October 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant & Machinery	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Tangible assets

	Plant and machinery	Total
	£	£
Cost
At 1 October 2016 and 30 September 2017	31,250	31,250
	--------	--------
Depreciation
At 1 October 2016	7,813	7,813
Charge for the year	5,859	5,859
	--------	--------
At 30 September 2017	13,672	13,672
	--------	--------
Carrying amount
At 30 September 2017	17,578	17,578
	--------	--------
At 30 September 2016	23,437	23,437
	--------	--------

5. Debtors

	2017	2016
	£	£
Other debtors	5,418	18,524
	-------	--------

6. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	32,907	34,578
Social security and other taxes	7,440	4,330
Other creditors	584,463	363,073
	---------	---------
	624,810	401,981
	---------	---------

7. Director transactions

At 30 Septmeber 2017, the company owed £582,488 (30 September 2016: £361,173) to the director of the company. The amounts are interest free and repayable on demand, subject to note 1 above.

8. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 October 2015.

No transitional adjustments were required in equity or profit or loss for the year.