4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07953159 2023-03-01 2024-02-29 07953159 2024-02-29 07953159 2023-02-28 07953159 2022-03-01 2023-02-28 07953159 2023-02-28 07953159 2022-02-28 07953159 core:PlantMachinery 2023-03-01 2024-02-29 07953159 core:FurnitureFittings 2023-03-01 2024-02-29 07953159 core:MotorVehicles 2023-03-01 2024-02-29 07953159 bus:LeadAgentIfApplicable 2023-03-01 2024-02-29 07953159 bus:Director2 2023-03-01 2024-02-29 07953159 core:PlantMachinery 2023-02-28 07953159 core:FurnitureFittings 2023-02-28 07953159 core:MotorVehicles 2023-02-28 07953159 core:PlantMachinery 2024-02-29 07953159 core:FurnitureFittings 2024-02-29 07953159 core:MotorVehicles 2024-02-29 07953159 core:WithinOneYear 2024-02-29 07953159 core:WithinOneYear 2023-02-28 07953159 core:AfterOneYear 2024-02-29 07953159 core:AfterOneYear 2023-02-28 07953159 core:ShareCapital 2024-02-29 07953159 core:ShareCapital 2023-02-28 07953159 core:RetainedEarningsAccumulatedLosses 2024-02-29 07953159 core:RetainedEarningsAccumulatedLosses 2023-02-28 07953159 core:PlantMachinery 2023-02-28 07953159 core:FurnitureFittings 2023-02-28 07953159 core:MotorVehicles 2023-02-28 07953159 bus:SmallEntities 2023-03-01 2024-02-29 07953159 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 07953159 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07953159 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07953159 bus:FullAccounts 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: 07953159
Karl Benz Kitchens and Interiors Limited
Filleted Unaudited Financial Statements
29 February 2024
Karl Benz Kitchens and Interiors Limited
Financial Statements
Year ended 29 February 2024
Contents
Page
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
Karl Benz Kitchens and Interiors Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Karl Benz Kitchens and Interiors Limited
Year ended 29 February 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 Karl Benz Kitchens and Interiors Limited for the year ended 29 February 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Karl Benz Kitchens and Interiors Limited in accordance with the terms of our engagement letter dated 8 July 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Karl Benz Kitchens and Interiors Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Karl Benz Kitchens and Interiors Limited and its director for our work or for this report.
It is your duty to ensure that Karl Benz Kitchens and Interiors Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Karl Benz Kitchens and Interiors Limited. You consider that Karl Benz Kitchens and Interiors 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 financial statements of Karl Benz Kitchens and Interiors 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 financial statements.
HEBBLETHWAITES Chartered Accountants
2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ
28 November 2024
Karl Benz Kitchens and Interiors Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
5,378
9,847
Current assets
Stocks
326,729
349,262
Debtors
6
78,879
72,269
Cash at bank and in hand
58,138
53,708
---------
---------
463,746
475,239
Creditors: amounts falling due within one year
7
519,191
486,602
---------
---------
Net current liabilities
55,445
11,363
--------
--------
Total assets less current liabilities
( 50,067)
( 1,516)
Creditors: amounts falling due after more than one year
8
238,000
238,000
---------
---------
Net liabilities
( 288,067)
( 239,516)
---------
---------
Karl Benz Kitchens and Interiors Limited
Statement of Financial Position (continued)
29 February 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
120
120
Profit and loss account
( 288,187)
( 239,636)
---------
---------
Shareholders deficit
( 288,067)
( 239,516)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 November 2024 , and are signed on behalf of the board by:
P G Cunningham
Director
Company registration number: 07953159
Karl Benz Kitchens and Interiors Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Napier, 01 Napier Street, Sheffield, S11 8HA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There is a deficit on the statement of financial position at the year end date but the directors consider that it is appropriate to prepare the financial statements on a going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & machinery
-
20% straight line
Fixtures & fittings
-
25% straight line
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 March 2023 and 29 February 2024
48,939
20,679
18,045
87,663
--------
--------
--------
--------
Depreciation
At 1 March 2023
46,823
18,049
12,944
77,816
Charge for the year
1,682
1,512
1,275
4,469
--------
--------
--------
--------
At 29 February 2024
48,505
19,561
14,219
82,285
--------
--------
--------
--------
Carrying amount
At 29 February 2024
434
1,118
3,826
5,378
--------
--------
--------
--------
At 28 February 2023
2,116
2,630
5,101
9,847
--------
--------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
74,290
66,327
Other debtors
4,589
5,942
--------
--------
78,879
72,269
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
67,001
67,735
Social security and other taxes
18,107
12,092
Other creditors
434,083
406,775
---------
---------
519,191
486,602
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
238,000
238,000
---------
---------