IRIS Accounts Production v24.1.0.578 00340852 Board of Directors Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false Ordinary Shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh003408522023-02-28003408522024-02-29003408522023-03-012024-02-29003408522022-02-28003408522022-03-012023-02-28003408522023-02-2800340852ns15:EnglandWales2023-03-012024-02-2900340852ns14:PoundSterling2023-03-012024-02-2900340852ns10:Director12023-03-012024-02-2900340852ns10:Director22023-03-012024-02-2900340852ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2900340852ns10:SmallEntities2023-03-012024-02-2900340852ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2900340852ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2900340852ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2900340852ns10:FullAccounts2023-03-012024-02-2900340852ns10:OrdinaryShareClass12023-03-012024-02-2900340852ns10:RegisteredOffice2023-03-012024-02-2900340852ns5:CurrentFinancialInstruments2024-02-2900340852ns5:CurrentFinancialInstruments2023-02-2800340852ns5:ShareCapital2024-02-2900340852ns5:ShareCapital2023-02-2800340852ns5:RetainedEarningsAccumulatedLosses2024-02-2900340852ns5:RetainedEarningsAccumulatedLosses2023-02-2800340852ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-03-012024-02-2900340852ns5:LongLeaseholdAssetsns5:LandBuildings2023-03-012024-02-2900340852ns5:PlantMachinery2023-03-012024-02-2900340852ns5:FurnitureFittings2023-03-012024-02-2900340852ns5:LandBuildings2023-02-2800340852ns5:LongLeaseholdAssetsns5:LandBuildings2023-02-2800340852ns5:PlantMachinery2023-02-2800340852ns5:FurnitureFittings2023-02-2800340852ns5:LandBuildings2023-03-012024-02-2900340852ns5:LandBuildings2024-02-2900340852ns5:LongLeaseholdAssetsns5:LandBuildings2024-02-2900340852ns5:PlantMachinery2024-02-2900340852ns5:FurnitureFittings2024-02-2900340852ns5:LandBuildings2023-02-2800340852ns5:LongLeaseholdAssetsns5:LandBuildings2023-02-2800340852ns5:PlantMachinery2023-02-2800340852ns5:FurnitureFittings2023-02-2800340852ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2900340852ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2800340852ns5:AcceleratedTaxDepreciationDeferredTax2024-02-2900340852ns5:AcceleratedTaxDepreciationDeferredTax2023-02-2800340852ns5:DeferredTaxation2023-02-2800340852ns5:DeferredTaxation2023-03-012024-02-2900340852ns5:DeferredTaxation2024-02-2900340852ns10:OrdinaryShareClass12024-02-29
REGISTERED NUMBER: 00340852 (England and Wales)















Unaudited Financial Statements for the Year Ended 29th February 2024

for

Sponge Kitchens Limited

Sponge Kitchens Limited (Registered number: 00340852)






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 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: 00340852 (England and Wales)





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

Sponge Kitchens Limited (Registered number: 00340852)

Balance Sheet
29th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 186,647 174,173

CURRENT ASSETS
Stocks 5,970 5,970
Debtors 5 15,502 10,302
Cash at bank 325,735 306,131
347,207 322,403
CREDITORS
Amounts falling due within one year 6 282,532 271,457
NET CURRENT ASSETS 64,675 50,946
TOTAL ASSETS LESS CURRENT
LIABILITIES

251,322

225,119

PROVISIONS FOR LIABILITIES 7 16,539 14,143
NET ASSETS 234,783 210,976

CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings 234,583 210,776
SHAREHOLDERS' FUNDS 234,783 210,976

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 Limited (Registered number: 00340852)

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 Limited (Registered number: 00340852)

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

1. STATUTORY INFORMATION

Sponge Kitchens 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.
Freehold property - Straight line over 30 years
Long leasehold - 20% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost and 10% 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 24 (2023 - 26 ) .

Sponge Kitchens Limited (Registered number: 00340852)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Long Plant and and
property leasehold machinery fittings Totals
£    £    £    £    £   
COST
At 1st March 2023 135,000 16,769 278,356 105,306 535,431
Additions - - 25,710 2,596 28,306
At 29th February 2024 135,000 16,769 304,066 107,902 563,737
DEPRECIATION
At 1st March 2023 36,000 16,769 220,189 88,300 361,258
Charge for year - - 11,632 4,200 15,832
At 29th February 2024 36,000 16,769 231,821 92,500 377,090
NET BOOK VALUE
At 29th February 2024 99,000 - 72,245 15,402 186,647
At 28th February 2023 99,000 - 58,167 17,006 174,173

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,951 7,782
Amounts owed by associates 47 47
Other debtors 5,504 2,473
15,502 10,302

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 33,111 28,201
Amounts owed to associates 158,433 149,577
Taxation and social security 12,387 8,799
Other creditors 78,601 84,880
282,532 271,457

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 16,539 14,143

Deferred
tax
£   
Balance at 1st March 2023 14,143
Charge to Income Statement during year 2,396
Balance at 29th February 2024 16,539

Sponge Kitchens Limited (Registered number: 00340852)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary Shares £1 200 200

9. RELATED PARTY DISCLOSURES

The company paid rent for trading premises at Park Langley to A.R. Stewart of £12,000, a director and shareholder of the company.

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