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Registered Number: 02315184
England and Wales

 

 

 

ACADEMY KITCHENS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Director Luke Sebastian Cutting
Registered Number 02315184
Registered Office Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
Accountants Ludlow Painter Limited
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
1
Director's report and financial statements
The director presents his annual report and the financial statements for the year ended 31 December 2023.
Principal activities
The principal activity of the company during the financial year was of kitchen installation and general building work.
Director
The director who served the company throughout the year was as follows:
Luke Sebastian Cutting
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the companys transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Luke Sebastian Cutting
Director

Date approved: 18 September 2024
2
Report to the director on the preparation of the unaudited statutory accounts of Academy Kitchens Limited for the year ended 31 December 2023.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Academy Kitchens Limited for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of Academy Kitchens Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Academy Kitchens Limited and state those matters that we have agreed to state to the Board of Directors of Academy Kitchens Limited, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Academy Kitchens Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Academy Kitchens Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Academy Kitchens Limited.You consider that Academy Kitchens Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of Academy Kitchens Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 31 December 2023.



....................................................
Ludlow Painter Limited
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
18 September 2024
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 5 40,000    40,000 
Tangible fixed assets 6 97,569    107,653 
137,569    147,653 
Current assets      
Stocks 7 145,000    85,443 
Debtors 8 390,888    216,631 
Cash at bank and in hand 258,782    261,653 
794,670    563,727 
Creditors: amount falling due within one year 9 (266,565)   (83,127)
Net current assets 528,105    480,600 
 
Total assets less current liabilities 665,674    628,253 
Accruals and deferred income (102,368)  
Net assets 563,306    628,253 
 

Capital and reserves
     
Called up share capital 10 1,000    1,000 
Profit and loss account 562,306    627,253 
Shareholders' funds 563,306    628,253 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 18 September 2024 and were signed by:


-------------------------------
Luke Sebastian Cutting
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 January 2022 1,000  652,753  653,753 
Profit for the year 86,600  86,600 
Total comprehensive income for the year 86,600  86,600 
Dividends (112,100) (112,100)
Total investments by and distributions to owners (112,100) (112,100)
At 31 December 2022 1,000  627,253  628,253 
At 01 January 2023 1,000  627,253  628,253 
Profit for the year 49,503  49,503 
Total comprehensive income for the year 49,503  49,503 
Dividends (114,450) (114,450)
Total investments by and distributions to owners (114,450) (114,450)
At 31 December 2023 1,000  562,306  563,306 
5
General Information
Academy Kitchens Limited is a private company, limited by shares, registered in England and Wales, registration number 02315184, registration address Produce House, 1a Wickham Court Road, West Wickham, Kent, BR4 9LN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Office Equipment 33.3% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Directors' Emoluments

2023
£
  2022
£
Administrative Expenses
Director's Remuneration 11,692    9,000 
11,692    9,000 

3.

Staff Costs

2023
£
  2022
£
Wages and salaries 234,365    158,094 
Pension costs, defined contribution plan 6,859    5,823 
Other staff costs 8,355    2,393 
249,579    166,310 

4.

Average number of employees

Average number of employees during the year was 9 (2022 : 5).
5.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 January 2023 40,000    40,000 
Additions  
Disposals  
At 31 December 2023 40,000    40,000 
Net book values
At 31 December 2023 40,000    40,000 
At 31 December 2022 40,000    40,000 


6.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Office Equipment   Total
  £   £   £   £   £
At 01 January 2023 20,578    114,297    16,669    11,410    162,954 
Additions 26,154    39,335      2,576    68,065 
Disposals   (59,040)       (59,040)
At 31 December 2023 46,732    94,592    16,669    13,986    171,979 
Depreciation
At 01 January 2023 5,145    35,978    4,167    10,011    55,301 
Charge for year 10,396    18,343    3,126    2,004    33,869 
On disposals   (14,760)       (14,760)
At 31 December 2023 15,541    39,561    7,293    12,015    74,410 
Net book values
Closing balance as at 31 December 2023 31,191    55,031    9,376    1,971    97,569 
Opening balance as at 01 January 2023 15,433    78,319    12,502    1,399    107,653 


7.

Stocks

2023
£
  2022
£
Stocks 145,000    85,443 
145,000    85,443 

8.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 356,990    209,631 
Prepayments & Accrued Income 7,000    7,000 
VAT 26,898   
390,888    216,631 

9.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 245,354    67,407 
Corporation Tax 5,561    6,239 
PAYE & Social Security 14,507    4,495 
Other Creditors 1,110    190 
Directors Current Account 33    23 
VAT   4,773 
266,565    83,127 

10.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1,000 Class A shares of £1.00 each 1,000    1,000 
1,000    1,000 

6