Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falsefalse2023-01-01Financial intermediation not elsewhere classified11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04822096 2023-01-01 2023-12-31 04822096 2022-01-01 2022-12-31 04822096 2023-12-31 04822096 2022-12-31 04822096 c:Director1 2023-01-01 2023-12-31 04822096 d:FurnitureFittings 2023-01-01 2023-12-31 04822096 d:FurnitureFittings 2023-12-31 04822096 d:FurnitureFittings 2022-12-31 04822096 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04822096 d:OfficeEquipment 2023-01-01 2023-12-31 04822096 d:OfficeEquipment 2023-12-31 04822096 d:OfficeEquipment 2022-12-31 04822096 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04822096 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04822096 d:Goodwill 2023-01-01 2023-12-31 04822096 d:Goodwill 2023-12-31 04822096 d:Goodwill 2022-12-31 04822096 d:CurrentFinancialInstruments 2023-12-31 04822096 d:CurrentFinancialInstruments 2022-12-31 04822096 d:Non-currentFinancialInstruments 2023-12-31 04822096 d:Non-currentFinancialInstruments 2022-12-31 04822096 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04822096 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04822096 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 04822096 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 04822096 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 04822096 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 04822096 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 04822096 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 04822096 d:ShareCapital 2023-12-31 04822096 d:ShareCapital 2022-12-31 04822096 d:RetainedEarningsAccumulatedLosses 2023-12-31 04822096 d:RetainedEarningsAccumulatedLosses 2022-12-31 04822096 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-12-31 04822096 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-12-31 04822096 c:OrdinaryShareClass1 2023-01-01 2023-12-31 04822096 c:OrdinaryShareClass1 2023-12-31 04822096 c:OrdinaryShareClass1 2022-12-31 04822096 c:FRS102 2023-01-01 2023-12-31 04822096 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04822096 c:FullAccounts 2023-01-01 2023-12-31 04822096 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04822096 2 2023-01-01 2023-12-31 04822096 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 04822096 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04822096










DANIEL KITCHEN LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
DANIEL KITCHEN LIMITED
REGISTERED NUMBER: 04822096

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
61,766
78,518

Tangible assets
 5 
5,122
3,567

  
66,888
82,085

Current assets
  

Debtors
  
237,405
223,727

Cash at bank and in hand
  
757
9,592

  
238,162
233,319

Creditors: amounts falling due within one year
 8 
(141,451)
(127,320)

Net current assets
  
 
 
96,711
 
 
105,999

Total assets less current liabilities
  
163,599
188,084

Creditors: amounts falling due after more than one year
  
(66,650)
(117,655)

Provisions for liabilities
  
(5,000)
(5,000)

Net assets
  
91,949
65,429


Capital and reserves
  

Called up share capital 
 12 
1,000
1,000

Profit and loss account
  
90,949
64,429

  
91,949
65,429

Page 1

 
DANIEL KITCHEN LIMITED
REGISTERED NUMBER: 04822096
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
D Kitchen
Director

Date: 24 September 2024

The notes on pages 3 to 11 form part of these financial statements.
Page 2

 
DANIEL KITCHEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Daniel Kitchen Limited is a private company limited by share capital, incorporated in England and Wales, registration number 04822096. The address of the registered office is 8 Kind Edward Street, Oxford, OX1 4HL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
DANIEL KITCHEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.6

Pensions

Defined contribution pension plan
The Company contributes to a contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
DANIEL KITCHEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases:.

Depreciation is provided on the following basis:

Fixtures & fittings
-
15%
Reducing balance
Office equipment
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.
Page 5

 
DANIEL KITCHEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 6

 
DANIEL KITCHEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
257,522



At 31 December 2023

257,522



Amortisation


At 1 January 2023
179,004


Charge for the year on owned assets
16,752



At 31 December 2023

195,756



Net book value



At 31 December 2023
61,766



At 31 December 2022
78,518



Page 7

 
DANIEL KITCHEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Fixtures & fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
4,131
8,755
12,886


Additions
-
2,551
2,551



At 31 December 2023

4,131
11,306
15,437



Depreciation


At 1 January 2023
2,294
7,024
9,318


Charge for the year on owned assets
420
577
997



At 31 December 2023

2,714
7,601
10,315



Net book value



At 31 December 2023
1,417
3,705
5,122



At 31 December 2022
1,837
1,730
3,567


6.


Debtors

2023
2022
£
£


Trade debtors
-
23,381

Other debtors
215,311
181,915

Prepayments and accrued income
22,095
18,431

237,406
223,727


Included within other debtors due within one year is a loan to Mr D Kitchen, a director, amounting to £163,077 (2022 - £139,016). Interest is charged at the beneficial loan rate and there is no fixed date for repayment.



Page 8

 
DANIEL KITCHEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
757
9,592

757
9,592



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,142
9,892

Other loans
42,110
39,897

Corporation tax
75,931
73,931

Accruals and deferred income
13,268
3,600

141,451
127,320



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
14,760
24,890

Other loans
51,890
92,765

66,650
117,655


Page 9

 
DANIEL KITCHEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,142
9,892

Other loans
42,110
39,897


52,252
49,789

Amounts falling due 1-2 years

Bank loans
10,398
10,142

Other loans
46,982
42,110


57,380
52,252

Amounts falling due 2-5 years

Bank loans
4,362
14,748

Other loans
4,908
50,655


9,270
65,403


118,902
167,444



11.


Provisions





Other provision

£





At 1 January 2023
5,000



At 31 December 2023
5,000

Provision for commissions clawback.

Page 10

 
DANIEL KITCHEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



13.


Pension commitments

The Company contributes into a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,000 (2022 - £1,500). Contributions totalling £Nil (2022 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


14.


Controlling party

The Company is controlled by Daniel Kitchen by virtue of his 100% shareholding.
 
Page 11