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REGISTERED NUMBER: 04006706 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Tailor Made Kitchens Ltd

Tailor Made Kitchens Ltd (Registered number: 04006706)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tailor Made Kitchens Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: D J Macaskill





REGISTERED OFFICE: 12 West Links
Tollgate
Chandlers Ford
Eastleigh
Hampshire
SO53 3TG





REGISTERED NUMBER: 04006706 (England and Wales)





ACCOUNTANTS: Talbot Accounting Solutions LLP
Bartley Cottage
Ringwood Road
Bartley
Southampton
Hampshire
SO40 7LD

Tailor Made Kitchens Ltd (Registered number: 04006706)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,473 34,161

CURRENT ASSETS
Stocks 142,332 164,282
Debtors 5 840,401 1,286,679
Cash at bank and in hand 309,803 151,960
1,292,536 1,602,921
CREDITORS
Amounts falling due within one year 6 515,386 811,803
NET CURRENT ASSETS 777,150 791,118
TOTAL ASSETS LESS CURRENT
LIABILITIES

830,623

825,279

CREDITORS
Amounts falling due after more than one
year

7

(90,669

)

(120,833

)

PROVISIONS FOR LIABILITIES (4,328 ) (263 )
NET ASSETS 735,626 704,183

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 735,526 704,083
735,626 704,183

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Tailor Made Kitchens Ltd (Registered number: 04006706)

Balance Sheet - continued
31 May 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2024 and were signed by:





D J Macaskill - Director


Tailor Made Kitchens Ltd (Registered number: 04006706)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Tailor Made Kitchens Ltd 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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised on percent completion of unit fittings when the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Tailor Made Kitchens Ltd (Registered number: 04006706)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Government grants
Government grants are recognised as income in the period to which they relate.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 99,178
Additions 37,137
At 31 May 2024 136,315
DEPRECIATION
At 1 June 2023 65,017
Charge for year 17,825
At 31 May 2024 82,842
NET BOOK VALUE
At 31 May 2024 53,473
At 31 May 2023 34,161

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 341,586 736,008
Other debtors 498,815 550,671
840,401 1,286,679

Tailor Made Kitchens Ltd (Registered number: 04006706)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts (see note 8) 7,389 -
Trade creditors 435,725 714,287
Taxation and social security 4,727 25,654
Other creditors 17,545 21,862
515,386 811,803

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 70,834 120,833
Hire purchase contracts (see note 8) 19,835 -
90,669 120,833

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.5.24 31.5.23
£    £   
Net obligations repayable:
Within one year 7,389 -
Between one and five years 19,835 -
27,224 -

Non-cancellable operating leases
31.5.24 31.5.23
£    £   
Within one year - 3,400

9. RELATED PARTY DISCLOSURES

The parent company is Tailor Made Holdings Limited, making it a related party.

At the year end the company was owed £459,419 (2023: £489,403) by Tailor Made Holdings Limited. This balance is included within other debtors.

Macmills Ltd
Macmills Ltd is the parent company of Tailor Made Holdings Limited, making it a related party.

At the year end the company was owed £nil (2023: £nil) by Macmills Ltd.