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REGISTERED NUMBER: 04898884 (England and Wales)












Unaudited Financial Statements

for the Year Ended 28 February 2024

for

K & T'S Food & Wine Limited

K & T'S Food & Wine Limited (Registered number: 04898884)






Contents of the Financial Statements
for the year ended 28 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


K & T'S Food & Wine Limited

Company Information
for the year ended 28 February 2024







DIRECTOR: Mrs T A Fletcher





REGISTERED OFFICE: 170 Frank Webb Avenue
Crewe
Cheshire
CW1 3NF





REGISTERED NUMBER: 04898884 (England and Wales)





ACCOUNTANTS: Banks Sheridan
Datum House
Electra Way
Crewe
Cheshire
CW1 6ZF

K & T'S Food & Wine Limited (Registered number: 04898884)

Statement of Financial Position
28 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 - 820
Tangible assets 6 23,630 28,200
23,630 29,020

CURRENT ASSETS
Stocks 54,300 54,068
Debtors 7 6,693 5,000
Cash at bank and in hand 173,195 187,053
234,188 246,121
CREDITORS
Amounts falling due within one year 8 (53,630 ) (57,037 )
NET CURRENT ASSETS 180,558 189,084
TOTAL ASSETS LESS CURRENT
LIABILITIES

204,188

218,104

PROVISIONS FOR LIABILITIES 9 (5,908 ) (5,212 )
NET ASSETS 198,280 212,892

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 198,278 212,890
198,280 212,892

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

K & T'S Food & Wine Limited (Registered number: 04898884)

Statement of Financial Position - continued
28 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2024 and were signed by:





Mrs T A Fletcher - Director


K & T'S Food & Wine Limited (Registered number: 04898884)

Notes to the Financial Statements
for the year ended 28 February 2024

1. STATUTORY INFORMATION

K & T's Food & Wine Limited's principal activity during the year under review was that of a convenience store to the shops local area.

The company is a private company limited by shares and incorporated in England and Wales. The registered office address is 170 Frank Webb Avenue, Crewe, Cheshire, CW1 3NF. The company's registered number is 04898884.

The functional and presentational currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated,

Basis of preparation
The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006.

Going concern
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the director.

The director therefore considers it appropriate to prepare the financial statements on the going concern basis.

Revenue
Revenue represents net invoiced sales of goods, excluding value added tax. Sales are recognised on the date the goods are purchased by a customer and the significant risks and rewards of ownership of the goods are transferred to the buyer.

Commissions received
Commissions received are included within Other Operating Income and accounted for on an accruals basis.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

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.

K & T'S Food & Wine Limited (Registered number: 04898884)

Notes to the Financial Statements - continued
for the year ended 28 February 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates so as to write off their cost less residual amounts over their estimated useful economic lives. Assets are also reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the assets carrying amount exceeds its recoverable amount.

Fixtures & fittings-15% reducing balance
Motor vehicles-25% reducing balance

The residual values and useful lives of assets are reviewed and adjusted if appropriate at each statement of financial position date.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Operating lease 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

K & T'S Food & Wine Limited (Registered number: 04898884)

Notes to the Financial Statements - continued
for the year ended 28 February 2024

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 28 February 2024 16,400
AMORTISATION
At 1 March 2023 15,580
Charge for year 820
At 28 February 2024 16,400
NET BOOK VALUE
At 28 February 2024 -
At 28 February 2023 820

6. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 March 2023 135,381 15,895 151,276
Additions 659 - 659
Disposals - (15,895 ) (15,895 )
At 28 February 2024 136,040 - 136,040
DEPRECIATION
At 1 March 2023 108,240 14,836 123,076
Charge for year 4,170 - 4,170
Eliminated on disposal - (14,836 ) (14,836 )
At 28 February 2024 112,410 - 112,410
NET BOOK VALUE
At 28 February 2024 23,630 - 23,630
At 28 February 2023 27,141 1,059 28,200

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 6,693 5,000

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 22,070 19,193
Taxation and social security 10,706 24,403
Other creditors 20,854 13,441
53,630 57,037

K & T'S Food & Wine Limited (Registered number: 04898884)

Notes to the Financial Statements - continued
for the year ended 28 February 2024

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 5,908 5,212

Deferred
tax
£   
Balance at 1 March 2023 5,212
Charge for the year 696
Balance at 28 February 2024 5,908