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REGISTERED NUMBER: 07940434 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 MARCH 2023 TO 31 MARCH 2024

FOR

ONE STOP KITCHENS LTD

ONE STOP KITCHENS LTD (REGISTERED NUMBER: 07940434)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ONE STOP KITCHENS LTD

COMPANY INFORMATION
FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024







DIRECTORS: Mr D Master
Mr M T Espley





REGISTERED OFFICE: 49 Station Road
Polegate
East Sussex
BN26 6EA





REGISTERED NUMBER: 07940434 (England and Wales)





ACCOUNTANTS: Honey Barrett Limited
53 Gildredge Road
Eastbourne
East Sussex
BN21 4SF

ONE STOP KITCHENS LTD (REGISTERED NUMBER: 07940434)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 245,069 164,587

CURRENT ASSETS
Stocks 6 20,000 45,000
Debtors 7 734,188 566,767
Cash at bank and in hand 48,726 192,745
802,914 804,512
CREDITORS
Amounts falling due within one year 8 583,755 525,680
NET CURRENT ASSETS 219,159 278,832
TOTAL ASSETS LESS CURRENT
LIABILITIES

464,228

443,419

CREDITORS
Amounts falling due after more than
one year

9

(49,980

)

(16,965

)

PROVISIONS FOR LIABILITIES 12 (38,616 ) (16,501 )
NET ASSETS 375,632 409,953

CAPITAL AND RESERVES
Called up share capital 13 200 100
Retained earnings 375,432 409,853
SHAREHOLDERS' FUNDS 375,632 409,953

ONE STOP KITCHENS LTD (REGISTERED NUMBER: 07940434)

BALANCE SHEET - continued
31 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 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.

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 Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:





Mr D Master - Director


ONE STOP KITCHENS LTD (REGISTERED NUMBER: 07940434)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024


1. STATUTORY INFORMATION

One Stop Kitchens Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.
Short leasehold - over the term of the lease
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Equipment - 25% on reducing balance

All fixed assets are initially recorded at cost.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

ONE STOP KITCHENS LTD (REGISTERED NUMBER: 07940434)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.


ONE STOP KITCHENS LTD (REGISTERED NUMBER: 07940434)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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 period 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.

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.

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 applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 13 (2023 - 11 ) .

ONE STOP KITCHENS LTD (REGISTERED NUMBER: 07940434)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor
leasehold fittings vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 8,590 - 254,488 14,259 277,337
Additions - 809 156,404 1,132 158,345
Disposals (1,700 ) - (27,990 ) - (29,690 )
At 31 March 2024 6,890 809 382,902 15,391 405,992
DEPRECIATION
At 1 March 2023 6,890 - 97,500 8,360 112,750
Charge for period - 117 59,320 1,802 61,239
Eliminated on disposal - - (13,066 ) - (13,066 )
At 31 March 2024 6,890 117 143,754 10,162 160,923
NET BOOK VALUE
At 31 March 2024 - 692 239,148 5,229 245,069
At 28 February 2023 1,700 - 156,988 5,899 164,587

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2023 224,704
Additions 156,404
Transfer to ownership (162,598 )
At 31 March 2024 218,510
DEPRECIATION
At 1 March 2023 82,724
Charge for period 56,271
Transfer to ownership (89,359 )
At 31 March 2024 49,636
NET BOOK VALUE
At 31 March 2024 168,874
At 28 February 2023 141,980

ONE STOP KITCHENS LTD (REGISTERED NUMBER: 07940434)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024


6. STOCKS
2024 2023
£    £   
Stocks 20,000 45,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 682,217 521,126
Other debtors 5,658 4,203
Prepayments and accrued income 46,313 41,438
734,188 566,767

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 38,966 23,389
Trade creditors 197,420 118,579
Corporation tax 35,089 42,991
PAYE and social security 10,383 9,920
VAT 69,400 40,093
Other creditors 56,522 1,661
Directors' current accounts 22,235 15,211
Accruals and deferred income 153,740 273,836
583,755 525,680

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 49,980 16,965

ONE STOP KITCHENS LTD (REGISTERED NUMBER: 07940434)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024


10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 38,966 23,389
Between one and five years 49,980 16,965
88,946 40,354

Non-cancellable operating leases
2024 2023
£    £   
Within one year 11,740 10,680
Between one and five years 2,080 6,730
13,820 17,410

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase 88,946 40,354

The Hire Purchase contracts are secured against the assets held under such agreements.

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 38,616 16,501

ONE STOP KITCHENS LTD (REGISTERED NUMBER: 07940434)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024


12. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 March 2023 16,501
Provided during period 22,115
Balance at 31 March 2024 38,616

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
50 Ordinary A £1 50 -
50 Ordinary B £1 50 -
200 100

The following shares were allotted and fully paid for cash at par during the period:

50 Ordinary A shares of £1 each
50 Ordinary B shares of £1 each

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 March 2024 and the year ended 28 February 2023:

2024 2023
£    £   
Mr M T Espley
Balance outstanding at start of period (36 ) -
Amounts advanced 56,203 -
Amounts repaid - (36 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 56,167 (36 )

Loans to the Directors' are interest free and repayable on demand.