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REGISTERED NUMBER: 10286709 (England and Wales)












FUTURE KITCHEN DESIGNS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






FUTURE KITCHEN DESIGNS LIMITED (REGISTERED NUMBER: 10286709)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FUTURE KITCHEN DESIGNS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: Mr R I Turner





REGISTERED OFFICE: Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT





REGISTERED NUMBER: 10286709 (England and Wales)





ACCOUNTANTS: Wallace Crooke Walsall Limited
Chartered Accountants
Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT

FUTURE KITCHEN DESIGNS LIMITED (REGISTERED NUMBER: 10286709)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 4,275 42,750
Debtors 6 4,047 20,071
Cash at bank and in hand 30 5,171
8,352 67,992
CREDITORS
Amounts falling due within one year 7 275,896 289,817
NET CURRENT LIABILITIES (267,544 ) (221,825 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(267,544

)

(221,825

)

CREDITORS
Amounts falling due after more than one
year

8

23,333

28,333
NET LIABILITIES (290,877 ) (250,158 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (290,977 ) (250,258 )
SHAREHOLDERS' FUNDS (290,877 ) (250,158 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 March 2024 and were signed by:



Mr R I Turner - Director


FUTURE KITCHEN DESIGNS LIMITED (REGISTERED NUMBER: 10286709)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Future Kitchen Designs Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements have been prepared on a basis other than going concern on the grounds that the directors have taken the decision to cease the company's trading activities after the Balance Sheet date, but prior to the date of approval of these financial statements.

The company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise agreement are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


FUTURE KITCHEN DESIGNS LIMITED (REGISTERED NUMBER: 10286709)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Franchise
agreement
£   
COST
At 1 August 2022
and 31 July 2023 20,000
AMORTISATION
At 1 August 2022
and 31 July 2023 20,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

FUTURE KITCHEN DESIGNS LIMITED (REGISTERED NUMBER: 10286709)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2022 4,748 795 5,543
Disposals (4,748 ) (795 ) (5,543 )
At 31 July 2023 - - -
DEPRECIATION
At 1 August 2022 4,748 795 5,543
Eliminated on disposal (4,748 ) (795 ) (5,543 )
At 31 July 2023 - - -
NET BOOK VALUE
At 31 July 2023 - - -
At 31 July 2022 - - -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 4,517
Other debtors 4,047 15,554
4,047 20,071

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,833 10,000
Trade creditors 1,019 26,589
Taxation and social security - 1,644
Other creditors 269,044 251,584
275,896 289,817

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 23,333 28,333

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 35,000
Between one and five years - 78,086
- 113,086

FUTURE KITCHEN DESIGNS LIMITED (REGISTERED NUMBER: 10286709)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100