Registered number
04669207
KITCHENS CONTINENTAL LIMITED
Filleted Accounts
29 February 2024
KITCHENS CONTINENTAL LIMITED
Registered number: 04669207
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 31,600 31,600
Tangible assets 4 25,235 25,235
56,835 56,835
Current assets
Stocks 115,245 108,749
Debtors 5 137,085 133,437
252,330 242,186
Creditors: amounts falling due within one year 6 (209,967) (200,727)
Net current assets 42,363 41,459
Net assets 99,198 98,294
Capital and reserves
Called up share capital 4 4
Profit and loss account 99,194 98,290
Shareholders' funds 99,198 98,294
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B Miel
Director
Approved by the board on 12 November 2024
KITCHENS CONTINENTAL LIMITED
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings
Leasehold land and buildings
Fixtures, fittings, tools and equipment
Plant and machinery difference between estimated realisable value and net book value at the end of each year
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2023 31,600
At 29 February 2024 31,600
Amortisation
At 29 February 2024 -
Net book value
At 29 February 2024 31,600
At 28 February 2023 31,600
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 91,876
At 29 February 2024 91,876
Depreciation
At 1 March 2023 66,641
At 29 February 2024 66,641
Net book value
At 29 February 2024 25,235
At 28 February 2023 25,235
5 Debtors 2024 2023
£ £
Trade debtors 108,734 108,932
Other debtors 28,351 24,505
137,085 133,437
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 25,018 49,312
Trade creditors 16,369 25,771
Amounts owed to group undertakings and undertakings in which the company has a participating interest 146,918 111,486
Taxation and social security costs (6,533) 3,912
Other creditors 28,195 10,246
209,967 200,727
7 Other information
KITCHENS CONTINENTAL LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
196 Brent Street,
Hendon,
London,
NW4 1BE
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