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
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
Kitchen Carousel Ltd
Statement of financial position
as at 31 March 2023
Tangible assets
83,852
74,739
Cash at bank and in hand
356
370
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)
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
Kitchen Carousel Ltd
Notes to the Accounts
for the year ended 31 March 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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 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.
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.
Kitchen Carousel Ltd
Notes to the Accounts
for the year ended 31 March 2023
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
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
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
Amounts falling due within one year
Accrued income and prepayments
870
1,744
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
Deferred income
2,500
5,416
7
Creditors: amounts falling due after more than one year
2023
2022
Kitchen Carousel Ltd
Notes to the Accounts
for the year ended 31 March 2023
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
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).