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Registration number: 08778183

Kitchen Angels Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Kitchen Angels Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Kitchen Angels Ltd

(Registration number: 08778183)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

2,202

2,417

Current assets

 

Stocks

6

6,000

6,000

Debtors

7

460,343

432,217

Cash at bank and in hand

 

161

40,745

 

466,504

478,962

Creditors: Amounts falling due within one year

8

(473,747)

(497,607)

Net current liabilities

 

(7,243)

(18,645)

Total assets less current liabilities

 

(5,041)

(16,228)

Creditors: Amounts falling due after more than one year

8

(9,614)

(15,020)

Provisions for liabilities

-

(604)

Net liabilities

 

(14,655)

(31,852)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(14,755)

(31,952)

Shareholders' deficit

 

(14,655)

(31,852)

 

Kitchen Angels Ltd

(Registration number: 08778183)
Balance Sheet as at 30 November 2023

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 August 2024 and signed on its behalf by:
 

.........................................
H Guerroudj
Director

 

Kitchen Angels Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At 30 November 2023 the company had net liabilities of £14,655 and net current liabilities of £7,243. Substantially all of the company's financial requirements have been met by H Guerroudj, a director of the company whoj has confirmed that he will continue to provide such financial support as is necessary to enable the company to meet its liabilities as they fall due and these accounts have therefore been prepared on the going concern basis, which assumes that this will be the case.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of golf retail supplies and the provision of catering services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises deferred tax.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Kitchen Angels Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance basis

Fixtures and fittings

25% reducing balance basis

Office equipment

25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Kitchen Angels Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 3).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2022

10,000

10,000

At 30 November 2023

10,000

10,000

Amortisation

At 1 December 2022

10,000

10,000

At 30 November 2023

10,000

10,000

Carrying amount

At 30 November 2023

-

-

 

Kitchen Angels Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

4,808

416

11,119

16,343

Additions

-

315

-

315

At 30 November 2023

4,808

731

11,119

16,658

Depreciation

At 1 December 2022

3,735

69

10,122

13,926

Charge for the year

268

13

249

530

At 30 November 2023

4,003

82

10,371

14,456

Carrying amount

At 30 November 2023

805

649

748

2,202

At 30 November 2022

1,073

347

997

2,417

6

Stocks

2023
£

2022
£

Other inventories

6,000

6,000

7

Debtors

Current

2023
£

2022
£

Trade debtors

1,356

1,806

Other debtors

458,987

430,411

 

460,343

432,217

 

Kitchen Angels Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

30,126

21,744

Trade creditors

 

25,047

25,774

Other creditors

 

418,574

450,089

 

473,747

497,607

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

9,614

15,020

9

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Bank borrowings

5,700

5,446

Bank overdrafts

24,426

16,298

30,126

21,744

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

9,614

15,020

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £61,500 (2022 - £61,500).

 

Kitchen Angels Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

11

Related party transactions

Transactions with directors

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

H Guerroudj

Director loan

105,503

11,787

(23,767)

93,523

2022

At 1 December 2021
£

Advances to director
£

Repayments by director
£

At 30 November 2022
£

H Guerroudj

Director loan

127,457

50,909

(72,863)

105,503

Other related party transactions

During the year Kitchen Angels Ltd made payments and received income on behalf of Touch of Angels TOA Ltd. At the balance sheet date the amount owed to Kitchen Angels Ltd was £316,653 (2022: £281,976).

During the year Kitchen Angels Ltd made payments and received income on behalf of Hampshire Golf Ltd. At the balance sheet date the amount owed to Hampshire Golf Ltd was £306,541 (2022: £308,147).

During the year Kitchen Angels Ltd made payments and received income on behalf of Ryehill Golf Ltd. At the balance sheet date the amount owed to Ryehill Golf Ltd was £91,081 (2022: £117,200).