4 false false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 05556866 2022-10-01 2023-09-30 05556866 2023-09-30 05556866 2022-09-30 05556866 2021-10-01 2022-09-30 05556866 2022-09-30 05556866 2021-09-30 05556866 core:PlantMachinery 2022-10-01 2023-09-30 05556866 core:FurnitureFittings 2022-10-01 2023-09-30 05556866 core:MotorVehicles 2022-10-01 2023-09-30 05556866 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 05556866 bus:Director2 2022-10-01 2023-09-30 05556866 core:WithinOneYear 2023-09-30 05556866 core:WithinOneYear 2022-09-30 05556866 core:ShareCapital 2023-09-30 05556866 core:ShareCapital 2022-09-30 05556866 core:RetainedEarningsAccumulatedLosses 2023-09-30 05556866 core:RetainedEarningsAccumulatedLosses 2022-09-30 05556866 bus:SmallEntities 2022-10-01 2023-09-30 05556866 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 05556866 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 05556866 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 05556866 bus:AbridgedAccounts 2022-10-01 2023-09-30 05556866 bus:OrdinaryShareClass1 2023-09-30 05556866 bus:OrdinaryShareClass1 2022-09-30
COMPANY REGISTRATION NUMBER: 05556866
1st Class Kitchens Limited
Filleted Unaudited Abridged Financial Statements
30 September 2023
1st Class Kitchens Limited
Abridged Financial Statements
Year Ended 30 September 2023
Contents
Pages
Abridged statement of financial position
1 to 2
Notes to the abridged financial statements
3 to 5
1st Class Kitchens Limited
Abridged Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
£
Fixed Assets
Tangible assets
5
15,010
17,100
Current Assets
Stocks
32,196
70,234
Debtors
25,276
19,263
Cash at bank and in hand
83,553
35,605
---------
---------
141,025
125,102
Creditors: amounts falling due within one year
92,565
94,176
---------
---------
Net Current Assets
48,460
30,926
--------
--------
Total Assets Less Current Liabilities
63,470
48,026
Provisions
Taxation including deferred tax
2,920
3,249
--------
--------
Net Assets
60,550
44,777
--------
--------
Capital and Reserves
Called up share capital
6
2
2
Profit and loss account
60,548
44,775
--------
--------
Shareholders Funds
60,550
44,777
--------
--------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 September 2023 in accordance with Section 444(2A) of the Companies Act 2006.
1st Class Kitchens Limited
Abridged Statement of Financial Position (continued)
30 September 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 22 February 2024 , and are signed on behalf of the board by:
Mr D Oxley
Director
Company registration number: 05556866
1st Class Kitchens Limited
Notes to the Abridged Financial Statements
Year Ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office and the company's place of business is 456 Derby Road, Chesterfield, Derbyshire, S40 2EU.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. All of the members have consented to the preparation of abridged accounts in accordance with Section 444(2A) of the Companies Act 2006.
Revenue recognition
The turnover shown in the profit and loss account represents amounts earned during the year, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference .
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
15% reducing balance
Office Equipment
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Government and Local Authority grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there are reasonable assurances that the company will comply with the conditions attached to them and the grant will be received.
Government grants are recognised using the accrual model.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Tangible assets
£
Cost
At 1 October 2022
48,823
Additions
1,840
--------
At 30 September 2023
50,663
--------
Depreciation
At 1 October 2022
31,723
Charge for the year
3,930
--------
At 30 September 2023
35,653
--------
Carrying amount
At 30 September 2023
15,010
--------
At 30 September 2022
17,100
--------
6. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
7. Directors' advances, credits and guarantees
There are no director's advances, credits or guarantees requiring disclosure.