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REGISTERED NUMBER: 12419077 (England and Wales)















Financial Statements

for the Year Ended 31 March 2024

for

SQUIRES KITCHEN LIMITED

SQUIRES KITCHEN LIMITED (REGISTERED NUMBER: 12419077)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SQUIRES KITCHEN LIMITED

Company Information
for the year ended 31 March 2024







Director: R F Newman





Registered office: Aissela
46 High Street
Esher
Surrey
KT10 9QY





Registered number: 12419077 (England and Wales)





Auditors: Cooper Parry Group Limited
Statutory Auditor
Aissela
46 High Street
Esher
Surrey
KT10 9QY

SQUIRES KITCHEN LIMITED (REGISTERED NUMBER: 12419077)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 (11,353 ) (24,977 )
Tangible assets 5 278,165 190,387
266,812 165,410

Current assets
Stocks 271,218 281,791
Debtors 6 146,254 155,959
Cash at bank 7,578 14,117
425,050 451,867
Creditors
Amounts falling due within one year 7 1,861,722 1,499,890
Net current liabilities (1,436,672 ) (1,048,023 )
Total assets less current liabilities (1,169,860 ) (882,613 )

Creditors
Amounts falling due after more than one
year

8

(79,913

)

-

Provisions for liabilities (50,470 ) (33,884 )
Net liabilities (1,300,243 ) (916,497 )

Capital and reserves
Called up share capital 10 100 100
Retained earnings (1,300,343 ) (916,597 )
Shareholders' funds (1,300,243 ) (916,497 )

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 November 2024 and were signed by:





R F Newman - Director


SQUIRES KITCHEN LIMITED (REGISTERED NUMBER: 12419077)

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

Squires Kitchen Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The financial statements have been prepared on a going concern basis. The basis is considered appropriate by the director.

The Director has reviewed and considered relevant information, including the annual budget and future cash flows in making his assessment. Given the proposed future performance and the net liability position of the company the Director has also sought and obtained the support of the parent undertaking for a period of at least 12 months from the signing of the accounts. Based on these assessments, the Director has concluded that he can continue to adopt the going concern basis in preparing the annual report and accounts.

The financial statements do not include any adjustments that would be required if the going concern concept was not deemed appropriate.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
All fixed assets are initially recorded at cost.

Depreciation if calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Leasehold improvements Straight line over 10 years
Fixtures and fittings Straight line over 5 years
Plant and machinery 15% per annum on cost

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

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity statements. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


SQUIRES KITCHEN LIMITED (REGISTERED NUMBER: 12419077)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. Employees and directors

The average number of employees during the year was 17 (2023 - 25 ) .

4. Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023
and 31 March 2024 (68,119 )
Amortisation
At 1 April 2023 (43,142 )
Amortisation for year (13,624 )
At 31 March 2024 (56,766 )
Net book value
At 31 March 2024 (11,353 )
At 31 March 2023 (24,977 )

SQUIRES KITCHEN LIMITED (REGISTERED NUMBER: 12419077)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


5. Tangible fixed assets
Fixtures
Leasehold Plant and and
improvements machinery fittings Totals
£ £ £ £
Cost
At 1 April 2023 146,910 70,876 58,366 276,152
Additions 8,013 107,250 11,671 126,934
At 31 March 2024 154,923 178,126 70,037 403,086
Depreciation
At 1 April 2023 43,049 20,569 22,147 85,765
Charge for year 15,042 11,395 12,719 39,156
At 31 March 2024 58,091 31,964 34,866 124,921
Net book value
At 31 March 2024 96,832 146,162 35,171 278,165
At 31 March 2023 103,861 50,307 36,219 190,387

Fixed assets, included in the above, which are held under finance leases are as follows:
Plant and
machinery
£
Cost
Additions 106,550
At 31 March 2024 106,550
Depreciation
Charge for year 3,985
At 31 March 2024 3,985
Net book value
At 31 March 2024 102,565

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 65,876 85,291
Amounts owed by group undertakings 30,509 11,316
Other debtors 1,134 1,249
VAT 23,153 23,884
Prepayments and accrued income 25,582 34,219
146,254 155,959

SQUIRES KITCHEN LIMITED (REGISTERED NUMBER: 12419077)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


7. Creditors: amounts falling due within one year
2024 2023
£ £
Finance leases (see note 9) 21,310 -
Trade creditors 92,811 205,859
Amounts owed to group undertakings 1,546,900 1,106,589
Social security and other taxes 7,189 12,494
Other creditors 97,025 52,015
Accruals and deferred income 96,487 122,933
1,861,722 1,499,890

8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Finance leases (see note 9) 79,913 -

9. Leasing agreements

Minimum lease payments fall due as follows:

Finance leases
2024 2023
£ £
Net obligations repayable:
Within one year 21,310 -
Between one and five years 79,913 -
101,223 -

Non-cancellable
operating leases
2024 2023
£ £
Within one year 71,794 95,725
Between one and five years - 71,794
71,794 167,519

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary 1 100 100

11. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Paul Hodgett (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited

12. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

SQUIRES KITCHEN LIMITED (REGISTERED NUMBER: 12419077)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


13. Ultimate controlling party

The company is a wholly owned subsidiary undertaking of Thew Arnott Group Limited, a company registered at Aissela, 46 High Street, Esher, Surrey, KT10 9QY. Copies of group accounts can be obtained from Companies House, Cardiff.