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Registration number: 08526264

Trade Kitchens (NWL) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

Trade Kitchens (NWL) Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Trade Kitchens (NWL) Limited

Company Information
__________________________________________________________________________

Director

M P Levene

Registered office

44 Lawrence Avenue
Mill Hill
London
NW7 4NN


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

Trade Kitchens (NWL) Limited

(Registration number: 08526264)
Balance Sheet as at 31 March 2022
__________________________________________________________________________

Note

2022
£

2021
£

   

     

fixed assets

   

 

tangible assets

3

 

9,939

 

427

Current assets

   

 

Debtors

4

242

 

-

 

Cash at bank and in hand

 

25,299

 

47,049

 

 

25,541

 

47,049

 

Creditors: Amounts falling due within one year

5

(25,501)

 

(30,124)

 

Net current assets

   

40

 

16,925

Net assets

   

9,979

 

17,352

capital and reserves

   

 

Called up share capital

2

 

2

 

Profit and loss account

9,977

 

17,350

 

Total equity

   

9,979

 

17,352

For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 7 September 2022
 

.........................................
M P Levene
Director

 

Trade Kitchens (NWL) Limited

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

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Trade Kitchens (NWL) Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2021 - 2).

 

Trade Kitchens (NWL) Limited

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

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2021

3,577

3,577

Additions

12,823

12,823

At 31 March 2022

16,400

16,400

Depreciation

At 1 April 2021

3,150

3,150

Charge for the year

3,311

3,311

At 31 March 2022

6,461

6,461

Carrying amount

At 31 March 2022

9,939

9,939

At 31 March 2021

427

427

4

Debtors

Current

2022
£

2021
£

Other debtors

242

-

5

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

trade creditors

 

22,520

19,066

Directors current account

-

801

Taxation and social security

 

2,231

9,507

Other creditors

 

750

750

 

25,501

30,124

 

Trade Kitchens (NWL) Limited

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

6

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary share of £1 each

2

2

2

2