IRIS Accounts Production v24.2.0.383 05363895 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh053638952022-12-31053638952023-12-31053638952023-01-012023-12-31053638952021-12-31053638952022-01-012022-12-31053638952022-12-3105363895ns15:EnglandWales2023-01-012023-12-3105363895ns14:PoundSterling2023-01-012023-12-3105363895ns10:Director12023-01-012023-12-3105363895ns10:Director22023-01-012023-12-3105363895ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105363895ns10:SmallEntities2023-01-012023-12-3105363895ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3105363895ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105363895ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105363895ns10:FullAccounts2023-01-012023-12-310536389512023-01-012023-12-3105363895ns10:CompanySecretary12023-01-012023-12-3105363895ns10:RegisteredOffice2023-01-012023-12-3105363895ns5:CurrentFinancialInstruments2023-12-3105363895ns5:CurrentFinancialInstruments2022-12-3105363895ns5:ShareCapital2023-12-3105363895ns5:ShareCapital2022-12-3105363895ns5:RetainedEarningsAccumulatedLosses2023-12-3105363895ns5:RetainedEarningsAccumulatedLosses2022-12-3105363895ns5:NetGoodwill2023-01-012023-12-3105363895ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3105363895ns5:FurnitureFittings2023-01-012023-12-3105363895ns5:MotorVehicles2023-01-012023-12-3105363895ns5:NetGoodwill2022-12-3105363895ns5:NetGoodwill2023-12-3105363895ns5:NetGoodwill2022-12-3105363895ns5:FurnitureFittings2022-12-3105363895ns5:MotorVehicles2022-12-3105363895ns5:FurnitureFittings2023-12-3105363895ns5:MotorVehicles2023-12-3105363895ns5:FurnitureFittings2022-12-3105363895ns5:MotorVehicles2022-12-3105363895ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105363895ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3105363895ns10:Director222022-12-3105363895ns10:Director222021-12-3105363895ns10:Director222023-01-012023-12-3105363895ns10:Director222022-01-012022-12-3105363895ns10:Director222023-12-3105363895ns10:Director222022-12-31053638951ns10:Director12022-12-31053638951ns10:Director12021-12-31053638951ns10:Director12023-01-012023-12-31053638951ns10:Director12022-01-012022-12-31053638951ns10:Director12023-12-31053638951ns10:Director12022-12-31
REGISTERED NUMBER: 05363895 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Kirks Quality Foods Limited

Kirks Quality Foods Limited (Registered number: 05363895)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Kirks Quality Foods Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: J D Kirk
A D Kirk





SECRETARY: J D Kirk





REGISTERED OFFICE: Endeavour House
7 Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR





REGISTERED NUMBER: 05363895 (England and Wales)





ACCOUNTANTS: INSIGHT
Acorn House
Church Lane
Croft
Skegness
Lincolnshire
PE24 4RW

Kirks Quality Foods Limited (Registered number: 05363895)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 63,558 77,338
63,558 77,338

CURRENT ASSETS
Stocks 35,000 45,000
Debtors 6 126,397 119,292
Cash at bank and in hand 241,931 579,926
403,328 744,218
CREDITORS
Amounts falling due within one year 7 241,261 224,818
NET CURRENT ASSETS 162,067 519,400
TOTAL ASSETS LESS CURRENT
LIABILITIES

225,625

596,738

PROVISIONS FOR LIABILITIES 16,274 14,120
NET ASSETS 209,351 582,618

CAPITAL AND RESERVES
Called up share capital 50,300 50,300
Retained earnings 159,051 532,318
SHAREHOLDERS' FUNDS 209,351 582,618

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Kirks Quality Foods Limited (Registered number: 05363895)

Balance Sheet - continued
31 December 2023


The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:




J D Kirk - Director



A D Kirk - Director


Kirks Quality Foods Limited (Registered number: 05363895)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Kirks Quality Foods Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Shop stock is valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Kirks Quality Foods Limited (Registered number: 05363895)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Government grants
Revenue grants - the income received is recognised on receipt.

Capital grants - the receipt is accrued and released matching the useful life of the asset(s).

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 100,000
AMORTISATION
At 1 January 2023
and 31 December 2023 100,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023 422,377 48,515 470,892
Additions 9,657 - 9,657
Disposals (11,119 ) - (11,119 )
At 31 December 2023 420,915 48,515 469,430
DEPRECIATION
At 1 January 2023 366,612 26,942 393,554
Charge for year 16,504 5,397 21,901
Eliminated on disposal (9,569 ) (14 ) (9,583 )
At 31 December 2023 373,547 32,325 405,872
NET BOOK VALUE
At 31 December 2023 47,368 16,190 63,558
At 31 December 2022 55,765 21,573 77,338

Kirks Quality Foods Limited (Registered number: 05363895)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 92,691 112,778
Bad debt provision (2,720 ) -
Directors' current accounts 28,988 -
S455 Tax recoverable 2,369 2,369
VAT 728 -
Prepayments 4,341 4,145
126,397 119,292

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 71,921 84,300
Tax 21,101 18,864
Social security and other taxes 6,959 1,318
VAT - 1
Other creditors 3,025 4,484
Directors' current accounts - 5,085
Accruals and deferred income 48,500 12,750
Accrued expenses 89,755 98,016
241,261 224,818

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   

9. TRANSACTIONS WITH DIRECTORS

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
A D Kirk
Balance outstanding at start of year (4,357 ) 517
Amounts advanced 36,545 22,276
Amounts repaid (17,515 ) (27,150 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,673 (4,357 )

Kirks Quality Foods Limited (Registered number: 05363895)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. TRANSACTIONS WITH DIRECTORS - continued

J D Kirk
Balance outstanding at start of year (727 ) (228 )
Amounts advanced 32,549 26,126
Amounts repaid (17,515 ) (26,625 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,307 (727 )

10. ULTIMATE CONTROLLING PARTY

The controlling party is Kirks Holdings Limited.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Kirks Quality Foods Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kirks Quality Foods Limited for the year ended 31 December 2023 which comprise the Statement of Income and Retained Earnings, 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Kirks Quality Foods Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kirks Quality Foods Limited and state those matters that we have agreed to state to the Board of Directors of Kirks Quality Foods Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kirks Quality Foods Limited and its Board of Directors, as a body, for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the financial statements of Kirks Quality Foods 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 statutory financial statements.






INSIGHT
Acorn House
Church Lane
Croft
Skegness
Lincolnshire
PE24 4RW


12 September 2024