Registered number
06771886
JLT Kitchens Limited
Filleted Accounts
31 December 2023
JLT Kitchens Limited
Registered number: 06771886
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 8,626 9,676
Current assets
Debtors 4 70,676 45,157
Creditors: amounts falling due within one year 5 (91,193) (69,152)
Net current liabilities (20,517) (23,995)
Net liabilities (11,891) (14,319)
Capital and reserves
Called up share capital 2 2
Profit and loss account (11,893) (14,321)
Shareholders' funds (11,891) (14,319)
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 members have 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.
M.C. Wheeler
Director
Approved by the board on 25 September 2024
JLT Kitchens Limited
Notes to the Accounts
for the year ended 31 December 2023
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.
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:
Plant and machinery 25% reducing balance
Motor vehicles 10 % 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.
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 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 2,090 17,179 19,269
At 31 December 2023 2,090 17,179 19,269
Depreciation
At 1 January 2023 1,544 8,049 9,593
Charge for the year 137 913 1,050
At 31 December 2023 1,681 8,962 10,643
Net book value
At 31 December 2023 409 8,217 8,626
At 31 December 2022 546 9,130 9,676
4 Debtors 2023 2022
£ £
Other debtors 70,676 45,157
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 16,778 12,704
Trade creditors 79 630
Taxation and social security costs 74,336 55,818
91,193 69,152
6 Other information
JLT Kitchens Limited is a private company limited by shares and incorporated in England. Its registered office is:
15 Epping Gardens
Sothall
Sheffield
South Yorkshire
S20 2GT
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