Kitchen Renovate Ltd 13034843 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is kitchen installations. Digita Accounts Production Advanced 6.30.9574.0 true true 13034843 2022-12-01 2023-11-30 13034843 2023-11-30 13034843 bus:Director1 1 2023-11-30 13034843 core:CurrentFinancialInstruments 2023-11-30 13034843 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 13034843 core:Non-currentFinancialInstruments 2023-11-30 13034843 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 13034843 core:OtherResidualIntangibleAssets 2023-11-30 13034843 core:FurnitureFittingsToolsEquipment 2023-11-30 13034843 bus:SmallEntities 2022-12-01 2023-11-30 13034843 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 13034843 bus:FullAccounts 2022-12-01 2023-11-30 13034843 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 13034843 bus:RegisteredOffice 2022-12-01 2023-11-30 13034843 bus:Director1 2022-12-01 2023-11-30 13034843 bus:Director1 1 2022-12-01 2023-11-30 13034843 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 13034843 core:IntangibleAssetsOtherThanGoodwill 2022-12-01 2023-11-30 13034843 core:OtherResidualIntangibleAssets 2022-12-01 2023-11-30 13034843 core:FurnitureFittings 2022-12-01 2023-11-30 13034843 core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 13034843 core:OfficeEquipment 2022-12-01 2023-11-30 13034843 countries:EnglandWales 2022-12-01 2023-11-30 13034843 2022-11-30 13034843 bus:Director1 1 2022-11-30 13034843 core:OtherResidualIntangibleAssets 2022-11-30 13034843 core:FurnitureFittingsToolsEquipment 2022-11-30 13034843 2021-12-01 2022-11-30 13034843 2022-11-30 13034843 core:CurrentFinancialInstruments 2022-11-30 13034843 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 13034843 core:Non-currentFinancialInstruments 2022-11-30 13034843 core:Non-currentFinancialInstruments core:AfterOneYear 2022-11-30 13034843 core:OtherResidualIntangibleAssets 2022-11-30 13034843 core:FurnitureFittingsToolsEquipment 2022-11-30 iso4217:GBP xbrli:pure

Registration number: 13034843

Kitchen Renovate Ltd

trading as Dream Doors Birmingham South

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Kitchen Renovate Ltd

trading as Dream Doors Birmingham South

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Kitchen Renovate Ltd

trading as Dream Doors Birmingham South

Company Information

Director

Mr M Wadsley

Registered office

176 New Road
Rubery
Birmingham
B45 9JA

Accountants

Ikara Business Solutions Limited
1 Pavilion Square
Cricketers Way
Westhoughton
Bolton
BL5 3AJ

 

Kitchen Renovate Ltd

trading as Dream Doors Birmingham South

(Registration number: 13034843)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

9,240

13,860

Tangible assets

6

5,869

7,899

 

15,109

21,759

Current assets

 

Stocks

7

-

32,236

Debtors

8

22,701

15,743

Cash at bank and in hand

 

21,362

44,263

 

44,063

92,242

Creditors: Amounts falling due within one year

9

(47,882)

(105,290)

Net current liabilities

 

(3,819)

(13,048)

Total assets less current liabilities

 

11,290

8,711

Creditors: Amounts falling due after more than one year

9

(9,946)

(22,166)

Net assets/(liabilities)

 

1,344

(13,455)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

1,343

(13,456)

Shareholders' funds/(deficit)

 

1,344

(13,455)

 

Kitchen Renovate Ltd

trading as Dream Doors Birmingham South

(Registration number: 13034843)
Balance Sheet as at 30 November 2023

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 March 2024
 

.........................................
Mr M Wadsley
Director

 

Kitchen Renovate Ltd

trading as Dream Doors Birmingham South

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
176 New Road
Rubery
Birmingham
B45 9JA

These financial statements were authorised for issue by the director on 18 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements were prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Kitchen Renovate Ltd

trading as Dream Doors Birmingham South

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% of cost

Fixtures and fittings

25% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Franchise fee

20% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Kitchen Renovate Ltd

trading as Dream Doors Birmingham South

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2022 - 6).

 

Kitchen Renovate Ltd

trading as Dream Doors Birmingham South

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

2,030

2,682

Amortisation expense

4,620

4,620

5

Intangible assets

Franchise Fee
£

Total
£

Cost or valuation

At 1 December 2022

23,100

23,100

At 30 November 2023

23,100

23,100

Amortisation

At 1 December 2022

9,240

9,240

Amortisation charge

4,620

4,620

At 30 November 2023

13,860

13,860

Carrying amount

At 30 November 2023

9,240

9,240

At 30 November 2022

13,860

13,860

 

Kitchen Renovate Ltd

trading as Dream Doors Birmingham South

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2022

14,132

14,132

At 30 November 2023

14,132

14,132

Depreciation

At 1 December 2022

6,233

6,233

Charge for the year

2,030

2,030

At 30 November 2023

8,263

8,263

Carrying amount

At 30 November 2023

5,869

5,869

At 30 November 2022

7,899

7,899

7

Stocks

2023
£

2022
£

Work in progress

-

32,236

8

Debtors

Current

2023
£

2022
£

Trade debtors

8,450

5,693

Prepayments

4,200

6,300

Other debtors

10,051

3,750

 

22,701

15,743

 

Kitchen Renovate Ltd

trading as Dream Doors Birmingham South

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

12,486

12,486

Trade creditors

 

21,272

13,813

Taxation and social security

 

10,279

14,778

Accruals and deferred income

 

955

47,007

Other creditors

 

2,890

17,206

 

47,882

105,290

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £12,486 (2022 - £12,486).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

9,946

22,166

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £9,946 (2022 - £22,166).

 

Kitchen Renovate Ltd

trading as Dream Doors Birmingham South

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

9,946

22,166

2023
£

2022
£

Current loans and borrowings

Bank borrowings

12,486

12,486

11

Related party transactions

Transactions with the director

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr M Wadsley

(14,066)

48,694

(28,326)

6,302