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REGISTERED NUMBER: 02672579 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 March 2022

for

Outlook Limited
T/A
Kingfisher

Outlook Limited (Registered number: 02672579)
T/A Kingfisher






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Outlook Limited
T/A Kingfisher

Company Information
for the Year Ended 31 March 2022







DIRECTORS: M Cole
C Cole





SECRETARY: Mrs K Cole





REGISTERED OFFICE: Unit 7 Great Western Trade Park
Bruce Street Bridges
Swindon
Wiltshire
SN2 2DJ





REGISTERED NUMBER: 02672579 (England and Wales)

Outlook Limited (Registered number: 02672579)
T/A Kingfisher

Balance Sheet
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,049 47,442

CURRENT ASSETS
Stocks 5 35,964 16,905
Debtors 6 82,492 61,465
Cash at bank and in hand 167,162 248,622
285,618 326,992
CREDITORS
Amounts falling due within one year 7 156,881 213,806
NET CURRENT ASSETS 128,737 113,186
TOTAL ASSETS LESS CURRENT
LIABILITIES

187,786

160,628

CREDITORS
Amounts falling due after more than one
year

8

-

(4,619

)

PROVISIONS FOR LIABILITIES (10,584 ) (8,236 )
NET ASSETS 177,202 147,773

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 1 1
Retained earnings 177,101 147,672
SHAREHOLDERS' FUNDS 177,202 147,773

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 August 2022 and were signed on its behalf by:



M Cole - Director


Outlook Limited (Registered number: 02672579)
T/A Kingfisher

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Outlook 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.

The financial statement are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

Turnover
Turnover is measured at the fair value of consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Supply and fit sales
Turnover is usually recognised on completion of the service. For engagements that span the year end turnover is recognised by reference to the stage of completion at the balance sheet date.
Where payments are received from customer in advance of services provided the amounts are recorded as deferred income and included as part of creditors due within one year.

Supply only sales
Turnover is recognised at the point of sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.
Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Outlook Limited (Registered number: 02672579)
T/A Kingfisher

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2021 - 11 ) .

Outlook Limited (Registered number: 02672579)
T/A Kingfisher

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2021 6,809 24,435 113,422 144,666
Additions - 1,820 23,323 25,143
Disposals - - (17,140 ) (17,140 )
At 31 March 2022 6,809 26,255 119,605 152,669
DEPRECIATION
At 1 April 2021 5,956 21,008 70,260 97,224
Charge for year 213 687 11,578 12,478
Eliminated on disposal - - (16,082 ) (16,082 )
At 31 March 2022 6,169 21,695 65,756 93,620
NET BOOK VALUE
At 31 March 2022 640 4,560 53,849 59,049
At 31 March 2021 853 3,427 43,162 47,442

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2021
and 31 March 2022 17,724
DEPRECIATION
At 1 April 2021 6,618
Charge for year 2,221
At 31 March 2022 8,839
NET BOOK VALUE
At 31 March 2022 8,885
At 31 March 2021 11,106

5. STOCKS
2022 2021
£    £   
Stocks 35,964 16,905

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 51,729 40,278
Rent deposit 10,000 10,000
Prepayments 20,763 11,187
82,492 61,465

Outlook Limited (Registered number: 02672579)
T/A Kingfisher

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts - 50,000
Hire purchase contracts (see note 9) 4,264 4,264
Trade creditors 82,086 100,129
Taxation and social security 59,732 50,905
Other creditors 10,799 8,508
156,881 213,806

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Hire purchase contracts (see note 9) - 4,619

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2022 2021
£    £   
Net obligations repayable:
Within one year 4,264 4,264
Between one and five years - 4,619
4,264 8,883

Non-cancellable operating leases
2022 2021
£    £   
Within one year 43,479 43,796
Between one and five years 30,690 74,231
74,169 118,027

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021:

2022 2021
£    £   
C Cole
Balance outstanding at start of year - 5,050
Amounts repaid - (5,050 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -