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REGISTERED NUMBER: 00599232 (England and Wales)















Unaudited Financial Statements for the Year Ended 29th February 2024

for

Sponge Kitchens (Hayes) Limited

Sponge Kitchens (Hayes) Limited (Registered number: 00599232)






Contents of the Financial Statements
for the Year Ended 29th February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sponge Kitchens (Hayes) Limited

Company Information
for the Year Ended 29th February 2024







DIRECTORS: A R Stewart
Mrs S M Stewart





REGISTERED OFFICE: 106 Wickham Road
Beckenham
Kent
BR3 6QH





REGISTERED NUMBER: 00599232 (England and Wales)





ACCOUNTANTS: Mr I P Scott
Accountant
81 Hawes Lane
West Wickham
Kent
BR4 0DF

Sponge Kitchens (Hayes) Limited (Registered number: 00599232)

Balance Sheet
29th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,987 34,324

CURRENT ASSETS
Stocks 1,650 1,650
Debtors 5 158,952 149,752
Cash at bank 13,524 4,541
174,126 155,943
CREDITORS
Amounts falling due within one year 6 59,390 65,081
NET CURRENT ASSETS 114,736 90,862
TOTAL ASSETS LESS CURRENT
LIABILITIES

144,723

125,186

PROVISIONS FOR LIABILITIES 7 5,501 6,280
NET ASSETS 139,222 118,906

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 138,722 118,406
139,222 118,906

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 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.

Sponge Kitchens (Hayes) Limited (Registered number: 00599232)

Balance Sheet - continued
29th February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th August 2024 and were signed on its behalf by:




A R Stewart - Director



Mrs S M Stewart - Director


Sponge Kitchens (Hayes) Limited (Registered number: 00599232)

Notes to the Financial Statements
for the Year Ended 29th February 2024

1. STATUTORY INFORMATION

Sponge Kitchens (Hayes) 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.
Plant and machinery - 20% on cost and 10% on cost
Fixtures and fittings - 20% on cost

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 Income Statement, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 16 ) .

Sponge Kitchens (Hayes) Limited (Registered number: 00599232)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st March 2023 102,625 55,950 158,575
Additions 3,769 - 3,769
At 29th February 2024 106,394 55,950 162,344
DEPRECIATION
At 1st March 2023 92,097 32,154 124,251
Charge for year 2,538 5,568 8,106
At 29th February 2024 94,635 37,722 132,357
NET BOOK VALUE
At 29th February 2024 11,759 18,228 29,987
At 28th February 2023 10,528 23,796 34,324

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by associates 158,433 149,577
Other debtors 519 175
158,952 149,752

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 11,609 8,384
Amounts owed to associates 29 29
Taxation and social security 19,081 15,022
Other creditors 28,671 41,646
59,390 65,081

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 5,501 6,280

Deferred
tax
£   
Balance at 1st March 2023 6,280
Credit to Income Statement during year (779 )
Balance at 29th February 2024 5,501

Sponge Kitchens (Hayes) Limited (Registered number: 00599232)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

8. RELATED PARTY DISCLOSURES

The company paid rent for trading premises at Hayes to A.R. Stewart of £10,500, a director and shareholder of the company.

Products for resale are supplied at cost between this company and Sponge Kitchens Limited, a company under common control. The net cost of supplies charged in the year from that company was £74,814 (2023: £66,783).