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REGISTERED NUMBER: 03932795 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Kitchen Doors NW Limited

Kitchen Doors NW Limited (Registered number: 03932795)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kitchen Doors NW Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: T W Nicol
D Nicol





REGISTERED OFFICE: Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB





REGISTERED NUMBER: 03932795 (England and Wales)





ACCOUNTANTS: Bennett Kirkhope Smith
Chartered Certified Accountants
Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB

Kitchen Doors NW Limited (Registered number: 03932795)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 335,448 121,225

CURRENT ASSETS
Stocks 18,850 14,500
Debtors 5 61,302 79,275
Cash at bank and in hand 250,472 436,345
330,624 530,120
CREDITORS
Amounts falling due within one year 6 205,174 345,599
NET CURRENT ASSETS 125,450 184,521
TOTAL ASSETS LESS CURRENT
LIABILITIES

460,898

305,746

CREDITORS
Amounts falling due after more than
one year

7

(114,667

)

-

PROVISIONS FOR LIABILITIES 10 (67,930 ) (30,760 )
NET ASSETS 278,301 274,986

Kitchen Doors NW Limited (Registered number: 03932795)

Balance Sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 100 100
Capital redemption reserve 50 50
Retained earnings 278,151 274,836
SHAREHOLDERS' FUNDS 278,301 274,986

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 13 March 2024 and were signed on its behalf by:




D Nicol - Director



T W Nicol - Director


Kitchen Doors NW Limited (Registered number: 03932795)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Kitchen Doors NW 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, 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.


Kitchen Doors NW Limited (Registered number: 03932795)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 6 (2022 - 6 ) .

Kitchen Doors NW Limited (Registered number: 03932795)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 177,744 6,111 30,109 213,964
Additions 226,646 4,375 - 231,021
Disposals (37,028 ) - - (37,028 )
At 31 December 2023 367,362 10,486 30,109 407,957
DEPRECIATION
At 1 January 2023 65,870 4,062 22,807 92,739
Charge for year 12,240 1,606 1,826 15,672
Eliminated on disposal (35,902 ) - - (35,902 )
At 31 December 2023 42,208 5,668 24,633 72,509
NET BOOK VALUE
At 31 December 2023 325,154 4,818 5,476 335,448
At 31 December 2022 111,874 2,049 7,302 121,225

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2023 115,000
Additions 215,000
Transfer to ownership (115,000 )
At 31 December 2023 215,000
DEPRECIATION
At 1 January 2023 21,850
Charge for year 9,315
Transfer to ownership (31,165 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 215,000
At 31 December 2022 93,150

Kitchen Doors NW Limited (Registered number: 03932795)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 45,184 28,195
Bad debt provision - (1,466 )
VAT 5,555 -
Prepayments 10,563 52,546
61,302 79,275

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 8)
57,334

46,000
Trade creditors 30,639 19,600
Amounts owed to group undertakings 108,996 198,451
Corporation tax - 55,380
Social security and other taxes 1,928 3,571
VAT - 17,642
Accrued expenses 6,277 4,955
205,174 345,599

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 8)
114,667

-

Kitchen Doors NW Limited (Registered number: 03932795)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Gross obligations repayable:
Within one year 65,132 47,745
Between one and five years 130,264 -
195,396 47,745

Finance charges repayable:
Within one year 7,798 1,745
Between one and five years 15,597 -
23,395 1,745

Net obligations repayable:
Within one year 57,334 46,000
Between one and five years 114,667 -
172,001 46,000

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Between one and five years 30,000 45,000

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 172,001 46,000

The hire purchase obligations are secured on the asset to which they relate.

Kitchen Doors NW Limited (Registered number: 03932795)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 67,930 30,760

Deferred
tax
£   
Balance at 1 January 2023 30,760
Charge to Statement of Income and Retained Earnings
during year

37,170
Balance at 31 December 2023 67,930

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
50 Ordinary £1 50 50
25 A Ordinary £1 25 25
25 B Ordinary £1 25 25
100 100

12. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party