Registered number
05575504
Winchester Kitchens Limited
Unaudited Filleted Accounts
31 March 2024
Winchester Kitchens Limited
Report and accounts
Contents
Page
Company information 1
Director's report 2
Chartered Accountants' report 3
Balance sheet 4
Notes to the accounts 5
Winchester Kitchens Limited
Company Information
Director
R J Stables
B P Townsend
Secretary
R J Stables
Accountants
Cochrane & Co Accountants Limited
38 Kings Road
Lee-on-the-Solent
Hampshire
PO13 9NU
Registered office
32 Staple Gardens
Winchester
Hampshire
SO23 8SR
Registered number
05575504
Winchester Kitchens Limited
Registered number: 05575504
Director's Report
The director presents his report and accounts for the year ended 31 March 2024.
Principal activities
The company's principal activity during the year continued to be that of kitchen design, sale and installation.
Directors
The following persons served as directors during the year:
R J Stables
B P Townsend
Third party indemnity provisions
The company pays for directors' insurance.
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 4 September 2024 and signed on its behalf.
Mr B Townsend
Director
Winchester Kitchens Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Winchester Kitchens Limited for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Winchester Kitchens Limited for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Cochrane & Co Accountants Limited
Chartered Accountants
38 Kings Road
Lee-on-the-Solent
Hampshire
PO13 9NU
11 September 2024
Winchester Kitchens Limited
Registered number: 05575504
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 47,053 80,732
Current assets
Debtors 5 48,197 13,439
Cash at bank and in hand 909 5,950
49,106 19,389
Creditors: amounts falling due within one year 6 (151,225) (164,825)
Net current liabilities (102,119) (145,436)
Total assets less current liabilities (55,066) (64,704)
Creditors: amounts falling due after more than one year 7 (33,902) (48,077)
Net liabilities (88,968) (112,781)
Capital and reserves
Called up share capital 133 133
Profit and loss account (89,101) (112,914)
Shareholder's funds (88,968) (112,781)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 B Townsend
Director
Approved by the board on 4 September 2024
Winchester Kitchens 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).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Goodwill is being written off over it's life, estimated by the directors, of 10 years.
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, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over 10 years
Plant and machinery 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Going concern
The directors are aware that due to the insolvent balance sheet, the dividends are 'illegal' under the Companies Act.

The company made a positive effort to reduce overheads in the prior year by halving the area of the showroom and reducing rent and associated overheads. The directors have continued to reduce overeads in the current year. It is their opinion that these reductions will result in the company being profitable again which in turn will reduce and eventually eradicate the Balance Sheet deficit.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 50,000
At 31 March 2024 50,000
Amortisation
At 1 April 2023 50,000
At 31 March 2024 50,000
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
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 7,128 126,239 133,367
Disposals - (17,995) (17,995)
At 31 March 2024 7,128 108,244 115,372
Depreciation
At 1 April 2023 7,128 45,507 52,635
Charge for the year - 20,183 20,183
On disposals - (4,499) (4,499)
At 31 March 2024 7,128 61,191 68,319
Net book value
At 31 March 2024 - 47,053 47,053
At 31 March 2023 - 80,732 80,732
5 Debtors 2024 2023
£ £
Trade debtors 36,968 881
Other debtors 11,229 12,558
48,197 13,439
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 21,476 5,463
Obligations under finance lease and hire purchase contracts 2,633 6,298
Trade creditors 64,231 100,017
Corporation tax - 4,109
Other taxes and social security costs 41,576 26,470
Other creditors 21,309 22,468
151,225 164,825
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 32,146 37,885
Obligations under finance lease and hire purchase contracts 1,756 10,192
33,902 48,077
8 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 9,742 16,033
9 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 60,138 78,642
10 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
R J Stables
DCA 12,920 12,920
12,920 - - 12,920
The directors loan is interest free but repayable on demand.
11 Controlling party
The company is controlled by the directors.
12 Other information
Winchester Kitchens Limited is a private company limited by shares and incorporated in England. Its registered office is:
32 Staple Gardens
Winchester
Hampshire
SO23 8SR
Winchester Kitchens Limited 05575504 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts April 2024 Mr B Townsend 05575504 2022-04-01 2023-03-31 05575504 core:WithinOneYear 2023-03-31 05575504 core:AfterOneYear 2023-03-31 05575504 core:ShareCapital 2023-03-31 05575504 core:RetainedEarningsAccumulatedLosses 2023-03-31 05575504 core:AllPeriods 2023-03-31 05575504 2023-04-01 2024-03-31 05575504 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05575504 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05575504 bus:Director1 2023-04-01 2024-03-31 05575504 bus:Director2 2023-04-01 2024-03-31 05575504 bus:CompanySecretary1 2023-04-01 2024-03-31 05575504 bus:Director40 2023-04-01 2024-03-31 05575504 1 2023-04-01 2024-03-31 05575504 2 2023-04-01 2024-03-31 05575504 core:LandBuildings 2023-04-01 2024-03-31 05575504 core:PlantMachinery 2023-04-01 2024-03-31 05575504 bus:Director1 1 2023-04-01 2024-03-31 05575504 countries:England 2023-04-01 2024-03-31 05575504 bus:FRS102 2023-04-01 2024-03-31 05575504 bus:FilletedAccounts 2023-04-01 2024-03-31 05575504 2024-03-31 05575504 core:WithinOneYear 2024-03-31 05575504 core:AfterOneYear 2024-03-31 05575504 core:ShareCapital 2024-03-31 05575504 core:RetainedEarningsAccumulatedLosses 2024-03-31 05575504 core:Goodwill 2024-03-31 05575504 core:LandBuildings 2024-03-31 05575504 core:PlantMachinery 2024-03-31 05575504 core:AllPeriods 2024-03-31 05575504 bus:Director1 1 2024-03-31 05575504 2023-03-31 05575504 core:Goodwill 2023-03-31 05575504 core:LandBuildings 2023-03-31 05575504 core:PlantMachinery 2023-03-31 05575504 bus:Director1 1 2023-03-31 iso4217:GBP xbrli:pure