Registered number
13505462
Cross Kitchen Emsworth Ltd
Filleted Accounts
31 July 2023
Cross Kitchen Emsworth Ltd
Registered number: 13505462
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 31,467 37,135
Current assets
Debtors 4 120,000 146,620
Cash at bank and in hand 29,250 11,326
149,250 157,946
Creditors: amounts falling due within one year 5 (101,624) (28,623)
Net current assets 47,626 129,323
Total assets less current liabilities 79,093 166,458
Creditors: amounts falling due after more than one year 6 (34,004) (177,477)
Provisions for liabilities (5,979) (7,056)
Net assets/(liabilities) 39,110 (18,075)
Capital and reserves
Called up share capital 100 100
Profit and loss account 39,010 (18,175)
Shareholder's funds 39,110 (18,075)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Steven Cross
Director
Approved by the board on 27 November 2023
Cross Kitchen Emsworth Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 5 years
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
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, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 5
3 Tangible fixed assets
Computer equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2022 397 20,893 24,995 46,285
Additions 146 4,205 - 4,351
At 31 July 2023 543 25,098 24,995 50,636
Depreciation
At 1 August 2022 79 4,172 4,899 9,150
Charge for the year 108 5,012 4,899 10,019
At 31 July 2023 187 9,184 9,798 19,169
Net book value
At 31 July 2023 356 15,914 15,197 31,467
At 31 July 2022 318 16,721 20,096 37,135
4 Debtors 2023 2022
£ £
Other debtors 120,000 146,620
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 5,904 -
Trade creditors 17,659 16,191
Taxation and social security costs 38,225 12,432
Other creditors 39,836 -
101,624 28,623
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans - 150,943
Obligations under finance lease and hire purchase contracts 13,994 26,534
Other creditors 20,010 -
34,004 177,477
7 Related party transactions
Included in other debtors is the amount of £39,602 owed to the director (2022 - £26,619 owed by the director). This amount is undated, unsecured, interest free and repayable upon demand.
Included in other debtors is the amount of £120,000 categorised as non-current assets.
8 Controlling party
The controlling party is Mr S Cross, as the Director and shareholder.
9 Other information
Cross Kitchen Emsworth Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 The Briars
Waterberry Drive
Waterlooville
Hampshire
PO7 7YH
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