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Company Registration No. 10772431 (England and Wales)
Kitchen Carousel Ltd Unaudited accounts for the year ended 31 March 2023
Kitchen Carousel Ltd Unaudited accounts Contents
Page
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Kitchen Carousel Ltd Company Information for the year ended 31 March 2023
Director
S Hamilton-Bergin
Company Number
10772431 (England and Wales)
Registered Office
1 West Street Lewes East Sussex BN7 2NZ
Accountants
Maxwell-Gumbleton & Co. 1 West Street Lewes East Sussex BN7 2NZ
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Kitchen Carousel Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
83,852 
74,739 
Current assets
Inventories
49,800 
39,150 
Debtors
8,183 
7,562 
Cash at bank and in hand
356 
370 
58,339 
47,082 
Creditors: amounts falling due within one year
(128,391)
(123,971)
Net current liabilities
(70,052)
(76,889)
Total assets less current liabilities
13,800 
(2,150)
Creditors: amounts falling due after more than one year
(21,867)
(20,000)
Net liabilities
(8,067)
(22,150)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(8,068)
(22,151)
Shareholders' funds
(8,067)
(22,150)
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 November 2023 and were signed on its behalf by
S Hamilton-Bergin Director Company Registration No. 10772431
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Kitchen Carousel Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Kitchen Carousel Ltd is a private company, limited by shares, registered in England and Wales, registration number 10772431. The registered office is 1 West Street, Lewes, East Sussex, BN7 2NZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
20% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Kitchen Carousel Ltd Notes to the Accounts for the year ended 31 March 2023
Going concern
The company is dependent upon the continued support of the director. It is the directors opinion that this support will continues and it is therefore appropriate to prepare the accounts on a going concern basis
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 April 2022
8,494 
72,051 
32,385 
14,983 
- 
127,913 
Additions
- 
18,375 
- 
- 
3,322 
21,697 
At 31 March 2023
8,494 
90,426 
32,385 
14,983 
3,322 
149,610 
Depreciation
At 1 April 2022
3,591 
28,264 
7,217 
14,102 
- 
53,174 
Charge for the year
850 
6,834 
3,121 
672 
1,107 
12,584 
At 31 March 2023
4,441 
35,098 
10,338 
14,774 
1,107 
65,758 
Net book value
At 31 March 2023
4,053 
55,328 
22,047 
209 
2,215 
83,852 
At 31 March 2022
4,903 
43,787 
25,168 
881 
- 
74,739 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
1,236 
818 
Accrued income and prepayments
870 
1,744 
Other debtors
6,077 
5,000 
8,183 
7,562 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
12,004 
15,817 
Taxes and social security
- 
175 
Other creditors
15,490 
17,476 
Loans from directors
96,892 
83,476 
Accruals
1,505 
1,611 
Deferred income
2,500 
5,416 
128,391 
123,971 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
21,867 
20,000 
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Kitchen Carousel Ltd Notes to the Accounts for the year ended 31 March 2023
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
- 
18,000 
Later than one year and not later than five years
- 
16,500 
- 
34,500 
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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