Davies Kitchens Ltd 14518544 false 2022-12-01 2023-12-31 2023-12-31 The principal activity of the company is Retail of furniture, lighting and similar Digita Accounts Production Advanced 6.30.9574.0 true true 14518544 2022-12-01 2023-12-31 14518544 2023-12-31 14518544 core:CurrentFinancialInstruments 2023-12-31 14518544 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 14518544 core:Non-currentFinancialInstruments 2023-12-31 14518544 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 14518544 core:OtherResidualIntangibleAssets 2023-12-31 14518544 core:MotorVehicles 2023-12-31 14518544 bus:SmallEntities 2022-12-01 2023-12-31 14518544 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-12-31 14518544 bus:FullAccounts 2022-12-01 2023-12-31 14518544 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-12-31 14518544 bus:RegisteredOffice 2022-12-01 2023-12-31 14518544 bus:Director1 2022-12-01 2023-12-31 14518544 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-12-31 14518544 core:IntangibleAssetsOtherThanGoodwill 2022-12-01 2023-12-31 14518544 core:OtherResidualIntangibleAssets 2022-12-01 2023-12-31 14518544 core:MotorVehicles 2022-12-01 2023-12-31 14518544 countries:AllCountries 2022-12-01 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 14518544

Davies Kitchens Ltd

trading as Dream Doors Burnley

Annual Report and Unaudited Financial Statements

for the Period from 1 December 2022 to 31 December 2023

 

Davies Kitchens Ltd

trading as Dream Doors Burnley

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Davies Kitchens Ltd

trading as Dream Doors Burnley

(Registration number: 14518544)
Balance Sheet as at 31 December 2023

Note

2023
£

Fixed assets

 

Intangible assets

4

18,480

Tangible assets

5

21,374

 

39,854

Current assets

 

Stocks

24,773

Debtors

6

1,318

Cash at bank and in hand

 

8,045

 

34,136

Creditors: Amounts falling due within one year

7

(77,180)

Net current liabilities

 

(43,044)

Total assets less current liabilities

 

(3,190)

Creditors: Amounts falling due after more than one year

7

(66,875)

Net liabilities

 

(70,065)

Capital and reserves

 

Called up share capital

1

Retained earnings

(70,066)

Shareholders' deficit

 

(70,065)

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges her 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Davies Kitchens Ltd

trading as Dream Doors Burnley

(Registration number: 14518544)
Balance Sheet as at 31 December 2023

Approved and authorised by the director on 15 August 2024
 

.........................................
Ms G H A Davies
Director

   
     
 

Davies Kitchens Ltd

trading as Dream Doors Burnley

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 December 2023

1

General information

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

The address of its registered office is:
The Power House 3 Bank Street (Ground Floor Only)
Rawtenstall
Rossendale
BB4 6QS
England

These financial statements were authorised for issue by the director on 15 August 2024.

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 the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the shareholders that they will continue to give financial support to the company for twelve months from the date of signing these accounts.

On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above may not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustments to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Davies Kitchens Ltd

trading as Dream Doors Burnley

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 December 2023

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.

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 Vehicle

25% Reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Franchise Fee

20% Straight Line

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Davies Kitchens Ltd

trading as Dream Doors Burnley

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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 the director) during the period, was 4.

 

Davies Kitchens Ltd

trading as Dream Doors Burnley

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 December 2023

4

Intangible assets

Franchise Fees

Total
£

Cost or valuation

Additions acquired separately

23,100

23,100

At 31 December 2023

23,100

23,100

Amortisation

Amortisation charge

4,620

4,620

At 31 December 2023

4,620

4,620

Carrying amount

At 31 December 2023

18,480

18,480

5

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

Additions

28,499

28,499

At 31 December 2023

28,499

28,499

Depreciation

Charge for the period

7,125

7,125

At 31 December 2023

7,125

7,125

Carrying amount

At 31 December 2023

21,374

21,374

6

Debtors

Current

2023
£

Trade debtors

1,317

Other debtors

1

 

1,318

 

Davies Kitchens Ltd

trading as Dream Doors Burnley

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

8

25,187

Trade creditors

 

9,671

Taxation and social security

 

8,372

Accruals and deferred income

 

4,395

Other creditors

 

29,555

 

77,180

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £25,187 .

Creditors: amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

8

66,875

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £66,875.

 

Davies Kitchens Ltd

trading as Dream Doors Burnley

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 December 2023

8

Loans and borrowings

2023
£

Non-current loans and borrowings

Bank borrowings

44,730

Other borrowings

22,145

66,875

2023
£

Current loans and borrowings

Bank borrowings

18,084

Other borrowings

7,103

25,187