2022-04-012023-03-312023-03-31false04639685THE KITCHEN WORKS (NORTH EAST) LIMITED2023-09-2831020iso4217:GBPxbrli:pure046396852022-04-01046396852023-03-31046396852022-04-012023-03-31046396852021-04-01046396852022-03-31046396852021-04-012022-03-3104639685bus:SmallEntities2022-04-012023-03-3104639685bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3104639685bus:FullAccounts2022-04-012023-03-3104639685bus:PrivateLimitedCompanyLtd2022-04-012023-03-3104639685core:WithinOneYear2023-03-3104639685core:AfterOneYear2023-03-3104639685core:WithinOneYear2022-03-3104639685core:AfterOneYear2022-03-3104639685core:ShareCapital2023-03-3104639685core:SharePremium2023-03-3104639685core:RevaluationReserve2023-03-3104639685core:OtherReservesSubtotal2023-03-3104639685core:RetainedEarningsAccumulatedLosses2023-03-3104639685core:ShareCapital2022-03-3104639685core:SharePremium2022-03-3104639685core:RevaluationReserve2022-03-3104639685core:OtherReservesSubtotal2022-03-3104639685core:RetainedEarningsAccumulatedLosses2022-03-3104639685core:LandBuildings2023-03-3104639685core:PlantMachinery2023-03-3104639685core:Vehicles2023-03-3104639685core:FurnitureFittings2023-03-3104639685core:OfficeEquipment2023-03-3104639685core:NetGoodwill2023-03-3104639685core:IntangibleAssetsOtherThanGoodwill2023-03-3104639685core:ListedExchangeTraded2023-03-3104639685core:UnlistedNon-exchangeTraded2023-03-3104639685core:LandBuildings2022-03-3104639685core:PlantMachinery2022-03-3104639685core:Vehicles2022-03-3104639685core:FurnitureFittings2022-03-3104639685core:OfficeEquipment2022-03-3104639685core:NetGoodwill2022-03-3104639685core:IntangibleAssetsOtherThanGoodwill2022-03-3104639685core:ListedExchangeTraded2022-03-3104639685core:UnlistedNon-exchangeTraded2022-03-3104639685core:LandBuildings2022-04-012023-03-3104639685core:PlantMachinery2022-04-012023-03-3104639685core:Vehicles2022-04-012023-03-3104639685core:FurnitureFittings2022-04-012023-03-3104639685core:OfficeEquipment2022-04-012023-03-3104639685core:NetGoodwill2022-04-012023-03-3104639685core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3104639685core:ListedExchangeTraded2022-04-012023-03-3104639685core:UnlistedNon-exchangeTraded2022-04-012023-03-3104639685core:MoreThanFiveYears2022-04-012023-03-3104639685core:Non-currentFinancialInstruments2023-03-3104639685core:Non-currentFinancialInstruments2022-03-3104639685dpl:CostSales2022-04-012023-03-3104639685dpl:DistributionCosts2022-04-012023-03-3104639685dpl:AdministrativeExpenses2022-04-012023-03-3104639685core:LandBuildings2022-04-012023-03-3104639685core:PlantMachinery2022-04-012023-03-3104639685core:Vehicles2022-04-012023-03-3104639685core:FurnitureFittings2022-04-012023-03-3104639685core:OfficeEquipment2022-04-012023-03-3104639685core:NetGoodwill2022-04-012023-03-3104639685core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3104639685dpl:GroupUndertakings2022-04-012023-03-3104639685dpl:ParticipatingInterests2022-04-012023-03-3104639685dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3104639685core:ListedExchangeTraded2022-04-012023-03-3104639685dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3104639685core:UnlistedNon-exchangeTraded2022-04-012023-03-3104639685dpl:CostSales2021-04-012022-03-3104639685dpl:DistributionCosts2021-04-012022-03-3104639685dpl:AdministrativeExpenses2021-04-012022-03-3104639685core:LandBuildings2021-04-012022-03-3104639685core:PlantMachinery2021-04-012022-03-3104639685core:Vehicles2021-04-012022-03-3104639685core:FurnitureFittings2021-04-012022-03-3104639685core:OfficeEquipment2021-04-012022-03-3104639685core:NetGoodwill2021-04-012022-03-3104639685core:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3104639685dpl:GroupUndertakings2021-04-012022-03-3104639685dpl:ParticipatingInterests2021-04-012022-03-3104639685dpl:GroupUndertakingscore:ListedExchangeTraded2021-04-012022-03-3104639685core:ListedExchangeTraded2021-04-012022-03-3104639685dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-04-012022-03-3104639685core:UnlistedNon-exchangeTraded2021-04-012022-03-3104639685core:NetGoodwill2023-03-3104639685core:IntangibleAssetsOtherThanGoodwill2023-03-3104639685core:LandBuildings2023-03-3104639685core:PlantMachinery2023-03-3104639685core:Vehicles2023-03-3104639685core:FurnitureFittings2023-03-3104639685core:OfficeEquipment2023-03-3104639685core:AfterOneYear2023-03-3104639685core:WithinOneYear2023-03-3104639685core:ListedExchangeTraded2023-03-3104639685core:UnlistedNon-exchangeTraded2023-03-3104639685core:ShareCapital2023-03-3104639685core:SharePremium2023-03-3104639685core:RevaluationReserve2023-03-3104639685core:OtherReservesSubtotal2023-03-3104639685core:RetainedEarningsAccumulatedLosses2023-03-3104639685core:NetGoodwill2022-03-3104639685core:IntangibleAssetsOtherThanGoodwill2022-03-3104639685core:LandBuildings2022-03-3104639685core:PlantMachinery2022-03-3104639685core:Vehicles2022-03-3104639685core:FurnitureFittings2022-03-3104639685core:OfficeEquipment2022-03-3104639685core:AfterOneYear2022-03-3104639685core:WithinOneYear2022-03-3104639685core:Liste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THE KITCHEN WORKS (NORTH EAST) LIMITED

Registered Number
04639685
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

THE KITCHEN WORKS (NORTH EAST) LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

Mr C Crystal
Mr G Latimer

Registered Address

Millburn House Hexham Business Park
Burn Lane
Hexham
NE46 3RU

Place of Business

Unit C, Euro House

Armstrong Street

Team Valley Trading Estate

Gateshead

NE11 0RQ


Registered Number

04639685 (England and Wales)
THE KITCHEN WORKS (NORTH EAST) LIMITED
Statement of Financial Position
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets537,10055,650
Tangible assets6594,553379,667
631,653435,317
Current assets
Stocks10192,500175,000
Debtors1177,90248,546
Cash at bank and on hand558,260610,598
828,662834,144
Creditors amounts falling due within one year12(559,633)(613,350)
Net current assets (liabilities)269,029220,794
Total assets less current liabilities900,682656,111
Creditors amounts falling due after one year13(375,908)(320,436)
Provisions for liabilities14(145,000)(94,000)
Net assets379,774241,675
Capital and reserves
Called up share capital104104
Share premium882882
Profit and loss account378,788240,689
Shareholders' funds379,774241,675
The financial statements were approved and authorised for issue by the Board of Directors on 28 September 2023, and are signed on its behalf by:
Mr C Crystal
Director
Mr G Latimer
Director

Registered Company No. 04639685
THE KITCHEN WORKS (NORTH EAST) LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Basis of measurement used in financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
3.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery203
Vehicles25-
Intangible assets policy
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Government grants and other government assistance policy
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Employee benefits policy
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
4.Employee information

20232022
Average number of employees during the year3036
5.Intangible assets
Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of goodwill has been set at 20 years and the asset will be amortized on a straight line basis over that period.

Goodwill

Total

££
Cost or valuation
At 01 April 22371,000371,000
At 31 March 23371,000371,000
Amortisation and impairment
At 01 April 22315,350315,350
Charge for year18,55018,550
At 31 March 23333,900333,900
Net book value
At 31 March 2337,10037,100
At 31 March 2255,65055,650
6.Property, plant and equipment

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 April 223,5041,125,426145,1601,274,090
Additions-265,02575,995341,020
Disposals-(147,250)(55,200)(202,450)
At 31 March 233,5041,243,201165,9551,412,660
Depreciation and impairment
At 01 April 2299797,22197,103894,423
Charge for year7077,03522,927100,032
On disposals-(128,952)(47,396)(176,348)
At 31 March 23169745,30472,634818,107
Net book value
At 31 March 233,335497,89793,321594,553
At 31 March 223,405328,20548,057379,667
7.Description of financial commitments other than capital commitments
At 31 March 2023 the company had future minimum lease payments under non-cancellable operating leases of £28,890 (2022: £51,835).
8.Off balance sheet pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. There were no contributions (2022 - £nil) payable to the fund at the reporting date.
9.Description of nature of transactions and balances with related parties
Bank loans are secured by personal guarantees from the directors totalling £45,000 each. The directors are joint partners in a trading partnership. During the year the company rented business premises from the trading partnership for £27,500 (2022 - £19,430).
10.Stocks
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.

2023

2022

££
Raw materials and consumables82,50065,000
Work in progress110,000110,000
Total192,500175,000
11.Debtors

2023

2022

££
Trade debtors / trade receivables61,56532,114
Other debtors8,8288,923
Prepayments and accrued income7,5097,509
Total77,90248,546
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
12.Creditors within one year

2023

2022

££
Trade creditors / trade payables298,744359,080
Bank borrowings and overdrafts45,33265,748
Taxation and social security52,46492,301
Finance lease and HP contracts134,32977,897
Other creditors17,2646,323
Accrued liabilities and deferred income11,50012,001
Total559,633613,350
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. The hire purchase liabilities are secured over the assets concerned.
13.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts54,16799,499
Other creditors321,741220,937
Total375,908320,436
The hire purchase liabilities are secured over the assets concerned.
14.Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate of the settlement can be made.

2023

2022

££
Net deferred tax liability (asset)145,00094,000
Total145,00094,000