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REGISTERED NUMBER: 08777598 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

KITCHEN PROJECT SOLUTIONS LIMITED

KITCHEN PROJECT SOLUTIONS LIMITED (REGISTERED NUMBER: 08777598)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


KITCHEN PROJECT SOLUTIONS LIMITED (REGISTERED NUMBER: 08777598)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,524,693 401,342
Investment property 5 303,649 -
1,828,342 401,342

CURRENT ASSETS
Stocks 1,967,168 707,112
Debtors 6 3,188,911 4,569,464
Cash at bank and in hand 355,809 428,446
5,511,888 5,705,022
CREDITORS
Amounts falling due within one year 7 2,737,657 3,393,414
NET CURRENT ASSETS 2,774,231 2,311,608
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,602,573

2,712,950

CREDITORS
Amounts falling due after more than one
year

8

(1,531,458

)

(820,483

)

PROVISIONS FOR LIABILITIES (67,515 ) (89,030 )
NET ASSETS 3,003,600 1,803,437

CAPITAL AND RESERVES
Called up share capital 182 100
Share premium 1,000,000 -
Retained earnings 2,003,418 1,803,337
3,003,600 1,803,437

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

KITCHEN PROJECT SOLUTIONS LIMITED (REGISTERED NUMBER: 08777598)

BALANCE SHEET - continued
29 FEBRUARY 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 Profit and Loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 November 2024 and were signed by:





R J Tollerfield - Director


KITCHEN PROJECT SOLUTIONS LIMITED (REGISTERED NUMBER: 08777598)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Kitchen Project Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08777598

Registered office: 5 Brooklands Place
Brooklands Road
Sale
Cheshire
M33 3SD

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 33% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Freehold property was purchased during the year and has been initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Depreciation is charged annually per the depreciation policy.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The investment property was purchased during the year and is held based on the valuation performed as part of the purchase.

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


KITCHEN PROJECT SOLUTIONS LIMITED (REGISTERED NUMBER: 08777598)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 25 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 March 2023 - 52,594 297,665
Additions 1,214,597 - 447
At 29 February 2024 1,214,597 52,594 298,112
DEPRECIATION
At 1 March 2023 - 52,594 85,525
Charge for year 8,097 - 37,102
At 29 February 2024 8,097 52,594 122,627
NET BOOK VALUE
At 29 February 2024 1,206,500 - 175,485
At 28 February 2023 - - 212,140

KITCHEN PROJECT SOLUTIONS LIMITED (REGISTERED NUMBER: 08777598)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 311,965 16,291 678,515
Additions - 2,062 1,217,106
At 29 February 2024 311,965 18,353 1,895,621
DEPRECIATION
At 1 March 2023 126,306 12,748 277,173
Charge for year 46,415 2,141 93,755
At 29 February 2024 172,721 14,889 370,928
NET BOOK VALUE
At 29 February 2024 139,244 3,464 1,524,693
At 28 February 2023 185,659 3,543 401,342

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 303,649
At 29 February 2024 303,649
NET BOOK VALUE
At 29 February 2024 303,649

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 583,572 424,585
Other debtors 2,605,339 4,144,879
3,188,911 4,569,464

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 95,380 70,000
Hire purchase contracts 33,296 -
Trade creditors 1,813,675 915,011
Taxation and social security 314,052 155,029
Other creditors 481,254 2,253,374
2,737,657 3,393,414

KITCHEN PROJECT SOLUTIONS LIMITED (REGISTERED NUMBER: 08777598)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 59,864 624,410
Hire purchase contracts 112,094 196,073
Other creditors 1,359,500 -
1,531,458 820,483

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 450,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 1,359,500 -
Hire purchase contracts 145,390 196,073
1,504,890 196,073

There is a fixed and floating charge registered over the undertakings and assets of the company. At 29 February 2024 the amount outstanding in respect of these borrowings was £1,359,500.

10. RELATED PARTY DISCLOSURES

At the balance sheet date, amounts due from companies under common control totalled £260,731 (2023: £256,856). No interest has been charged in respect of this loan, which is repayable on demand and classified within debtors.

At the balance sheet date, amounts due to a company under control totalled £314,256 (2023: £198,464). No interest has been charged in respect of this loan, which is repayable on demand and classified within creditors.