REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Period |
1st September 2022 to 28th February 2024 |
for |
School Kitchen Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Period |
1st September 2022 to 28th February 2024 |
for |
School Kitchen Limited |
School Kitchen Limited (Registered number: 10909358) |
Contents of the Financial Statements |
For The Period 1st September 2022 to 28th February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
School Kitchen Limited |
Company Information |
For The Period 1st September 2022 to 28th February 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
4 Old Market Place |
Ripon |
North Yorkshire |
HG4 1EQ |
School Kitchen Limited (Registered number: 10909358) |
Balance Sheet |
28th February 2024 |
28.2.24 | 31.8.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
School Kitchen Limited (Registered number: 10909358) |
Balance Sheet - continued |
28th February 2024 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
School Kitchen Limited (Registered number: 10909358) |
Notes to the Financial Statements |
For The Period 1st September 2022 to 28th February 2024 |
1. | STATUTORY INFORMATION |
School Kitchen Limited is a |
2. | STATEMENT OF COMPLIANCE |
These financial statements were prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102") as issued in August 2014. The financial statements have been prepared under the historical cost convention. |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £. |
Turnover |
The turnover represents net invoiced sales of consultancy and food services, excluding value added tax after adjusting for opening and closing work in progress provisions. |
Turnover is measured at the fair value of the consideration received or receivable for consultancy and food services, net of VAT and any discounts. Turnover is recognised when the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually the date when the consultancy or food service was provided. |
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 |
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less any estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
Computer equipment 33% straight line on cost |
Plant and machinery 20% straight line on cost |
Delivery bikes 20% straight line on cost |
Property improvements 25% straight line on cost |
Stock and work in progress |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Work in progress is valued at cost plus attributable profit. Attributable profit is that part of the total profit on the contract which fairly reflects the work performed at the balance sheet date and which can be assessed with reasonable certainty. |
School Kitchen Limited (Registered number: 10909358) |
Notes to the Financial Statements - continued |
For The Period 1st September 2022 to 28th February 2024 |
3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 unless considered not material. |
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 period 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 |
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. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account, unless the asset is carried at a revalued amount and the impairment loss is a decrease to a previous revaluation. |
Provisions |
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. |
Interest receivable |
Interest income is recognised using the effective interest method. |
School Kitchen Limited (Registered number: 10909358) |
Notes to the Financial Statements - continued |
For The Period 1st September 2022 to 28th February 2024 |
3. | ACCOUNTING POLICIES - continued |
Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. |
A basic financial liability that is a loan from a person who is a director and a shareholder is recorded at the initial transaction price and is not measured at fair value. |
Employee benefits |
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. |
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
5. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
Additions |
At 28th February 2024 |
AMORTISATION |
Charge for period |
At 28th February 2024 |
NET BOOK VALUE |
At 28th February 2024 |
School Kitchen Limited (Registered number: 10909358) |
Notes to the Financial Statements - continued |
For The Period 1st September 2022 to 28th February 2024 |
6. | TANGIBLE FIXED ASSETS |
Improvements | Plant and | Delivery | Computer |
to property | machinery | Bikes | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st September 2022 |
Additions |
At 28th February 2024 |
DEPRECIATION |
At 1st September 2022 |
Charge for period |
At 28th February 2024 |
NET BOOK VALUE |
At 28th February 2024 |
At 31st August 2022 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.24 | 31.8.22 |
£ | £ |
Other debtors |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.24 | 31.8.22 |
£ | £ |
Trade creditors |
Corporation Tax |
Social security and other taxes |
Other creditors |
Directors' current accounts |
Accrued expenses |
9. | PROVISIONS FOR LIABILITIES |
28.2.24 | 31.8.22 |
£ | £ |
Deferred tax | 6,100 | - |
Deferred tax |
£ |
Accelerated capital allowances | 6,100 |
Balance at 28th February 2024 |