Silverfin false 31/05/2023 01/06/2022 31/05/2023 Joanne Brimecombe 01/06/2022 Lee Brimecombe 14/05/2018 Mariam Nebbett 01/06/2022 Paul Nebbett 14/05/2018 07 November 2023 The principal activity of the Company during the financial year is the retailing construction and installation of kitchens. 11360701 2023-05-31 11360701 bus:Director1 2023-05-31 11360701 bus:Director2 2023-05-31 11360701 bus:Director3 2023-05-31 11360701 bus:Director4 2023-05-31 11360701 2022-05-31 11360701 core:CurrentFinancialInstruments 2023-05-31 11360701 core:CurrentFinancialInstruments 2022-05-31 11360701 core:ShareCapital 2023-05-31 11360701 core:ShareCapital 2022-05-31 11360701 core:RetainedEarningsAccumulatedLosses 2023-05-31 11360701 core:RetainedEarningsAccumulatedLosses 2022-05-31 11360701 core:Goodwill 2022-05-31 11360701 core:Goodwill 2023-05-31 11360701 core:LandBuildings 2022-05-31 11360701 core:PlantMachinery 2022-05-31 11360701 core:Vehicles 2022-05-31 11360701 core:FurnitureFittings 2022-05-31 11360701 core:OfficeEquipment 2022-05-31 11360701 core:ComputerEquipment 2022-05-31 11360701 core:LandBuildings 2023-05-31 11360701 core:PlantMachinery 2023-05-31 11360701 core:Vehicles 2023-05-31 11360701 core:FurnitureFittings 2023-05-31 11360701 core:OfficeEquipment 2023-05-31 11360701 core:ComputerEquipment 2023-05-31 11360701 bus:OrdinaryShareClass1 2023-05-31 11360701 core:WithinOneYear 2023-05-31 11360701 core:WithinOneYear 2022-05-31 11360701 core:BetweenOneFiveYears 2023-05-31 11360701 core:BetweenOneFiveYears 2022-05-31 11360701 core:MoreThanFiveYears 2023-05-31 11360701 core:MoreThanFiveYears 2022-05-31 11360701 2022-06-01 2023-05-31 11360701 bus:FullAccounts 2022-06-01 2023-05-31 11360701 bus:SmallEntities 2022-06-01 2023-05-31 11360701 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 11360701 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 11360701 bus:Director1 2022-06-01 2023-05-31 11360701 bus:Director2 2022-06-01 2023-05-31 11360701 bus:Director3 2022-06-01 2023-05-31 11360701 bus:Director4 2022-06-01 2023-05-31 11360701 core:Goodwill core:TopRangeValue 2022-06-01 2023-05-31 11360701 core:Goodwill 2022-06-01 2023-05-31 11360701 core:LandBuildings core:TopRangeValue 2022-06-01 2023-05-31 11360701 core:PlantMachinery core:TopRangeValue 2022-06-01 2023-05-31 11360701 core:Vehicles core:TopRangeValue 2022-06-01 2023-05-31 11360701 core:FurnitureFittings core:TopRangeValue 2022-06-01 2023-05-31 11360701 core:OfficeEquipment core:TopRangeValue 2022-06-01 2023-05-31 11360701 core:ComputerEquipment core:TopRangeValue 2022-06-01 2023-05-31 11360701 2021-06-01 2022-05-31 11360701 core:LandBuildings 2022-06-01 2023-05-31 11360701 core:PlantMachinery 2022-06-01 2023-05-31 11360701 core:Vehicles 2022-06-01 2023-05-31 11360701 core:FurnitureFittings 2022-06-01 2023-05-31 11360701 core:OfficeEquipment 2022-06-01 2023-05-31 11360701 core:ComputerEquipment 2022-06-01 2023-05-31 11360701 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 11360701 bus:OrdinaryShareClass1 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11360701 (England and Wales)

DEKOR KITCHENS LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2023
Pages for filing with the registrar

DEKOR KITCHENS LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2023

Contents

DEKOR KITCHENS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 May 2023
DEKOR KITCHENS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 May 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 14,956 32,866
14,957 32,867
Current assets
Stocks 50,622 77,883
Debtors 5 3,525 20,093
Cash at bank and in hand 125,277 287,026
179,424 385,002
Creditors: amounts falling due within one year 6 ( 110,416) ( 210,568)
Net current assets 69,008 174,434
Total assets less current liabilities 83,965 207,301
Provision for liabilities ( 3,313) ( 7,328)
Net assets 80,652 199,973
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 80,552 199,873
Total shareholders' funds 80,652 199,973

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Dekor Kitchens Limited (registered number: 11360701) were approved and authorised for issue by the Director on 07 November 2023. They were signed on its behalf by:

Lee Brimecombe
Director
Paul Nebbett
Director
DEKOR KITCHENS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
DEKOR KITCHENS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dekor Kitchens Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3 The Venture Centre Yeoford Way, Matford Park, Exeter, EX2 8LB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life of 5 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation,
less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 5 years straight line
Plant and machinery 5 years straight line
Vehicles 5 years straight line
Fixtures and fittings 5 years straight line
Office equipment 5 years straight line
Computer equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over
the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 June 2022 1 1
At 31 May 2023 1 1
Accumulated amortisation
At 01 June 2022 0 0
At 31 May 2023 0 0
Net book value
At 31 May 2023 1 1
At 31 May 2022 1 1

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Office equipment Computer equipment Total
£ £ £ £ £ £ £
Cost
At 01 June 2022 18,676 363 27,178 48,838 1,232 3,677 99,964
Additions 0 106 0 0 0 2,421 2,527
At 31 May 2023 18,676 469 27,178 48,838 1,232 6,098 102,491
Accumulated depreciation
At 01 June 2022 14,940 17 10,979 39,071 666 1,425 67,098
Charge for the financial year 3,736 72 5,436 9,768 247 1,178 20,437
At 31 May 2023 18,676 89 16,415 48,839 913 2,603 87,535
Net book value
At 31 May 2023 0 380 10,763 ( 1) 319 3,495 14,956
At 31 May 2022 3,736 346 16,199 9,767 566 2,252 32,866

5. Debtors

2023 2022
£ £
Amounts owed by associates 50 50
Amounts owed by directors 0 579
Prepayments 3,475 19,464
3,525 20,093

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 3,997 78,623
Amounts owed to associates 13,450 13,850
Amounts owed to directors 59,259 13,322
Accruals 2,997 2,915
Taxation and social security 30,713 61,443
Other creditors 0 40,415
110,416 210,568

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
- within one year 27,699 27,699
- between one and five years 110,795 110,795
- after five years 193,861 221,560
332,355 360,054

9. Related party transactions

Transactions with the entity's directors

During the year the directors maintained current accounts with the company. At the year end the company owed the directors £59,259 (2022: £13,322). Interest was charged on these loans when overdrawn at 2%.