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REGISTERED NUMBER: 00599232 (England and Wales)















Unaudited Financial Statements for the Year Ended 28th February 2022

for

Sponge Kitchens (Hayes) Limited

Sponge Kitchens (Hayes) Limited (Registered number: 00599232)






Contents of the Financial Statements
for the Year Ended 28th February 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sponge Kitchens (Hayes) Limited

Company Information
for the Year Ended 28th February 2022







DIRECTORS: A R Stewart
Mrs S M Stewart





REGISTERED OFFICE: 106 Wickham Road
Beckenham
Kent
BR3 6QH





REGISTERED NUMBER: 00599232 (England and Wales)





ACCOUNTANTS: Mr I P Scott
Chartered Accountant
81 Hawes Lane
West Wickham
Kent
BR4 0DF

Sponge Kitchens (Hayes) Limited (Registered number: 00599232)

Balance Sheet
28th February 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,589 41,255

CURRENT ASSETS
Stocks 1,650 1,650
Debtors 5 126,963 97,725
Cash at bank 20,535 8,530
149,148 107,905
CREDITORS
Amounts falling due within one year 6 68,962 65,554
NET CURRENT ASSETS 80,186 42,351
TOTAL ASSETS LESS CURRENT
LIABILITIES

117,775

83,606

PROVISIONS FOR LIABILITIES 7 6,850 9,334
NET ASSETS 110,925 74,272

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 110,425 73,772
110,925 74,272

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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.

Sponge Kitchens (Hayes) Limited (Registered number: 00599232)

Balance Sheet - continued
28th February 2022


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th September 2022 and were signed on its behalf by:




A R Stewart - Director



Mrs S M Stewart - Director


Sponge Kitchens (Hayes) Limited (Registered number: 00599232)

Notes to the Financial Statements
for the Year Ended 28th February 2022

1. STATUTORY INFORMATION

Sponge Kitchens (Hayes) 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost and 10% on cost
Fixtures and fittings - 20% on cost

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2021 - 19 ) .

Sponge Kitchens (Hayes) Limited (Registered number: 00599232)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2022

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st March 2021 94,214 55,950 150,164
Additions 3,763 - 3,763
At 28th February 2022 97,977 55,950 153,927
DEPRECIATION
At 1st March 2021 87,939 20,970 108,909
Charge for year 1,837 5,592 7,429
At 28th February 2022 89,776 26,562 116,338
NET BOOK VALUE
At 28th February 2022 8,201 29,388 37,589
At 28th February 2021 6,275 34,980 41,255

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed by associates 126,788 97,040
Other debtors 175 685
126,963 97,725

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 6,566 7,625
Amounts owed to associates 29 29
Taxation and social security 20,411 17,351
Other creditors 41,956 40,549
68,962 65,554

7. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax
Accelerated capital allowances 6,850 9,334

Sponge Kitchens (Hayes) Limited (Registered number: 00599232)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2022

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st March 2021 9,334
Credit to Income Statement during year (2,484 )
Balance at 28th February 2022 6,850

8. RELATED PARTY DISCLOSURES

The company paid rent for trading premises at Hayes to A.R. Stewart of £10,500, a director and shareholder of the company.

Products for resale are supplied at cost between this company and Sponge Kitchens Limited, a company under common control. The net cost of supplies charged in the year from that company was £57,040 (2021: £45,361).