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Company No: 07098038 (England and Wales)

PROJECT KITCHENS UK LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

PROJECT KITCHENS UK LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

PROJECT KITCHENS UK LIMITED

BALANCE SHEET

As at 31 January 2024
PROJECT KITCHENS UK LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 633,440 261,590
633,440 261,590
Current assets
Debtors 4 0 200,000
0 200,000
Creditors: amounts falling due within one year 5 ( 171,850) 0
Net current (liabilities)/assets (171,850) 200,000
Total assets less current liabilities 461,590 461,590
Net assets 461,590 461,590
Capital and reserves
Called-up share capital 6 45 45
Share premium account 5 5
Profit and loss account 461,540 461,540
Total shareholders' funds 461,590 461,590

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Project Kitchens UK Limited (registered number: 07098038) were approved and authorised for issue by the Director on 21 June 2024. They were signed on its behalf by:

Mrs B Sewell
Director
PROJECT KITCHENS UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
PROJECT KITCHENS UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Project Kitchens UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 4 Ball Green, Trafford Park, Manchester, M32 0QT, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Fixed asset investments

2024 2023
£ £
Subsidiary undertakings 633,440 261,590

Investments in subsidiaries

2024
£
Cost
At 01 February 2023 261,590
Additions 371,850
At 31 January 2024 633,440
Carrying value at 31 January 2024 633,440
Carrying value at 31 January 2023 261,590

In the opinion of the director, costs remains a realistic estimate of the market value of investments.

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.01.2024
Ownership
31.01.2023
Project Kitchens Limited 4 Ball Green, Trafford Park, Manchester Supply of fitted kitchens Ordinary 100.00% 100.00%
Project Kitchens (South) Limited 4 Ball Green, Trafford Park, Manchester Supply of fitted kitchens Ordinary 100.00% 0.00%

4. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 0 200,000

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Group undertakings 171,850 0

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
3,500 Ordinary shares of £ 0.01 each (2023: 4,500 shares of £ 0.01 each) 35 45
1,000 C Ordinary shares of £ 0.01 each (2023: nil shares) 10 0
45 45