Registered number
07947123
Exeter Kitchen Fitter Limited
Unaudited Filleted Accounts
31 March 2024
Exeter Kitchen Fitter Limited
Registered number: 07947123
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 8,900 6,891
Current assets
Debtors 5 28,698 6,110
Cash at bank and in hand 13,350 6,207
42,048 12,317
Creditors: amounts falling due within one year 6 (16,256) (18,076)
Net current assets/(liabilities) 25,792 (5,759)
Total assets less current liabilities 34,692 1,132
Provisions for liabilities (1,073) -
Net assets 33,619 1,132
Capital and reserves
Called up share capital 100 100
Profit and loss account 33,519 1,032
Shareholders' funds 33,619 1,132
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Simon Shattock
Director
Approved by the board on 16 August 2024
Exeter Kitchen Fitter Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the time incurred to date to the total estimated time of the contract.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 20% reducing balance
Plant and machinery 15% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Debtors and creditors
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 25,000
At 31 March 2024 25,000
Amortisation
At 1 April 2023 25,000
At 31 March 2024 25,000
Net book value
At 31 March 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 10,921 23,300 34,221
Additions 3,808 - 3,808
At 31 March 2024 14,729 23,300 38,029
Depreciation
At 1 April 2023 7,157 20,173 27,330
Charge for the year 1,174 625 1,799
At 31 March 2024 8,331 20,798 29,129
Net book value
At 31 March 2024 6,398 2,502 8,900
At 31 March 2023 3,764 3,127 6,891
5 Debtors 2024 2023
£ £
Trade debtors 3,471 -
Amounts recoverable under contracts 17,856 3,672
Deferred tax asset - 1,937
Other debtors 7,371 501
28,698 6,110
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 53 -
Tax and social security 9,941 -
Other taxes and social security costs 2,031 -
Other creditors 4,231 18,076
16,256 18,076
7 Loans to director
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Interest free and repayable
on demand 186 7,200 (312) 7,074
186 7,200 (312) 7,074
8 Other information
Exeter Kitchen Fitter Limited is a private company limited by shares and incorporated in England. Its registered office is:
68 Alphington Road
Exeter
EX2 8HU
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