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Registration number: 12588669

Kitchens by Gregory Limited trading as Pistachio Kitchens

Report of the Directors and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Kitchens by Gregory Limited

trading as Pistachio Kitchens

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

 

Company Information

1

Accountants' Report

2 to 3

Balance Sheet

4 to 5

Notes to the Unaudited Financial Statements

6 to 13

 

Kitchens by Gregory Limited

trading as Pistachio Kitchens

Company Information
for the Year Ended 31 May 2024

Director

Mr Gregory Ball

Registered office

10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

Accountants

Insight Strategic Associates Limited
Chartered Certified Accountants
10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Kitchens by Gregory Limited trading as Pistachio Kitchens
for the Year Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kitchens by Gregory Limited for the year ended 31 May 2024 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.
 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
 

This report is made solely to the Board of Directors of Kitchens by Gregory Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Kitchens by Gregory Limited and state those matters that we have agreed to state to the Board of Directors of Kitchens by Gregory Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kitchens by Gregory Limited and its Board of Directors as a body for our work or for this report.
 

It is your duty to ensure that Kitchens by Gregory Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Kitchens by Gregory Limited. You consider that Kitchens by Gregory 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 accounts of Kitchens by Gregory 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 accounts.

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Kitchens by Gregory Limited trading as Pistachio Kitchens
for the Year Ended 31 May 2024

......................................

Insight Strategic Associates
Chartered Certified Accountants

10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

12 October 2024

 

Kitchens by Gregory Limited

trading as Pistachio Kitchens

(Registration number: 12588669 )
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

689

Current assets

 

Debtors

5

81,957

82,103

Creditors: Amounts falling due within one year

6

(88,394)

(92,073)

Net current liabilities

 

(6,437)

(9,970)

Total assets less current liabilities

 

(6,437)

(9,281)

Provisions for liabilities

-

(131)

Net liabilities

 

(6,437)

(9,412)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(6,438)

(9,413)

Shareholders' deficit

 

(6,437)

(9,412)

For the financial year ending 31 May 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 October 2024
 

 

Kitchens by Gregory Limited

trading as Pistachio Kitchens

(Registration number: 12588669 )
Balance Sheet as at 31 May 2024

.........................................
Mr Gregory Ball
Director

 

Kitchens by Gregory Limited

trading as Pistachio Kitchens

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
10 Towerfield Road
Shoeburyness
Essex
SS3 9QE
England

These financial statements were authorised for issue by the director on 14 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Kitchens by Gregory Limited

trading as Pistachio Kitchens

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

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Kitchens by Gregory Limited

trading as Pistachio Kitchens

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

2

Accounting policies (continued)

Asset class

Depreciation method and rate

Office Equipment

33% Straight Line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Kitchens by Gregory Limited

trading as Pistachio Kitchens

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

2

Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

Kitchens by Gregory Limited

trading as Pistachio Kitchens

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

5,742

5,742

Disposals

(2,988)

(2,988)

At 31 May 2024

2,754

2,754

Depreciation

At 1 June 2023

5,053

5,053

Charge for the year

689

689

Eliminated on disposal

(2,988)

(2,988)

At 31 May 2024

2,754

2,754

Carrying amount

At 31 May 2024

-

-

At 31 May 2023

689

689

5

Debtors

Current

2024
£

2023
£

Trade debtors

34,228

7,264

Other debtors

47,729

74,839

 

81,957

82,103

6

Creditors

Creditors: amounts falling due within one year

 

Kitchens by Gregory Limited

trading as Pistachio Kitchens

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

6

Creditors (continued)

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

19,144

19,066

Trade creditors

 

24,821

31,820

Taxation and social security

 

29,990

38,992

Accruals and deferred income

 

2,214

2,195

Other creditors

 

12,225

-

 

88,394

92,073

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Share Capital of £1 each

1

1

1

1

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

19,144

19,066

9

Related party transactions

 

Kitchens by Gregory Limited

trading as Pistachio Kitchens

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

9

Related party transactions (continued)

Transactions with the director

2024

At 1 June 2023
£

Advances to director
£

Repayments by director
£

At 31 May 2024
£

Mr Gregory Ball

55,955

77,351

(103,939)

29,367

2023

At 1 June 2022
£

Advances to director
£

Repayments by director
£

At 31 May 2023
£

Mr Gregory Ball

(34,040)

139,643

(49,648)

55,955

 

Kitchens by Gregory Limited

trading as Pistachio Kitchens

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

9

Related party transactions (continued)

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

12,358