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Registration number: 11920839

Woody Muddy Kitchens Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Woody Muddy Kitchens Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Woody Muddy Kitchens Ltd

Company Information

Director

Mr AP Massey

Registered office

2 Western Street
Barnsley
South Yorkshire
S70 2BP

Accountants

Cameron Alexander Accountants Limited
Chartered Certified Accountants
2 Western Street
Barnsley
S70 2BP

 

Woody Muddy Kitchens Ltd

(Registration number: 11920839)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

18,965

11,841

Current assets

 

Stocks

4

559

1,774

Debtors

5

4,559

19,720

Cash at bank and in hand

 

8,004

14,657

 

13,122

36,151

Creditors: Amounts falling due within one year

6

(23,839)

(34,965)

Net current (liabilities)/assets

 

(10,717)

1,186

Total assets less current liabilities

 

8,248

13,027

Creditors: Amounts falling due after more than one year

6

-

(6,800)

Provisions for liabilities

(1,786)

(1,212)

Net assets

 

6,462

5,015

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

6,362

4,915

Shareholders' funds

 

6,462

5,015

For the financial year ending 30 April 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 28 October 2024
 

 

Woody Muddy Kitchens Ltd

(Registration number: 11920839)
Balance Sheet as at 30 April 2024

.........................................
Mr AP Massey
Director

 

Woody Muddy Kitchens Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

Accounting policies

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.

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 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.

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:

Asset class

Depreciation method and rate

Plant and Machinery

- 25% reducing balance

 

Woody Muddy Kitchens Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Woody Muddy Kitchens Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

10,064

10,528

20,592

Additions

2,430

8,400

10,830

Disposals

(1,823)

-

(1,823)

At 30 April 2024

10,671

18,928

29,599

Depreciation

At 1 May 2023

3,735

5,016

8,751

Charge for the year

1,818

1,247

3,065

Eliminated on disposal

(1,182)

-

(1,182)

At 30 April 2024

4,371

6,263

10,634

Carrying amount

At 30 April 2024

6,300

12,665

18,965

At 30 April 2023

6,329

5,512

11,841

4

Stocks

2024
£

2023
£

Other inventories

559

1,774

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,836

17,054

Prepayments

2,723

2,666

 

4,559

19,720

 

Woody Muddy Kitchens Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

-

2,400

Trade creditors

 

490

1,071

Accruals and deferred income

 

792

788

Other creditors

 

22,557

30,706

 

23,839

34,965

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

-

6,800

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

95

95

95

95

Ordinary A of £1 each

5

5

5

5

100

100

100

100

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

6,800

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

2,400

 

Woody Muddy Kitchens Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

9

Related party transactions

Transactions with the director

2024

At 1 May 2023
£

Advances to director
£

At 30 April 2024
£

Mr AP Massey

No interest is charged on the loan and there is no fixed date of repayment.

29,659

(7,102)

22,556