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Registration number: 04736221

Bispham & Cleveleys Kitchens Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Bispham & Cleveleys Kitchens Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Financial Statements

5 to 12

 

Bispham & Cleveleys Kitchens Ltd

Company Information

Registered office

14-22 Red Bank Road
Bispham
Blackpool
Lancashire
FY2 9HR

Accountants

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Bispham & Cleveleys Kitchens Ltd
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bispham & Cleveleys Kitchens Ltd for the year ended 30 April 2024 as set out on pages 3 to 12 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Bispham & Cleveleys Kitchens Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Bispham & Cleveleys Kitchens Ltd and state those matters that we have agreed to state to the Board of Directors of Bispham & Cleveleys Kitchens Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bispham & Cleveleys Kitchens Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Bispham & Cleveleys Kitchens Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Bispham & Cleveleys Kitchens Ltd. You consider that Bispham & Cleveleys Kitchens Ltd 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 accounts of Bispham & Cleveleys Kitchens Ltd. 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 accounts.

......................................

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

29 October 2024

 

Bispham & Cleveleys Kitchens Ltd

(Registration number: 04736221)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

16,400

22,750

Tangible assets

5

162,554

160,615

Investment property

6

1,355,022

622,353

 

1,533,976

805,718

Current assets

 

Stocks

7

29,080

40,740

Debtors

8

18,731

16,831

Cash at bank and in hand

 

416,722

905,167

 

464,533

962,738

Creditors: Amounts falling due within one year

9

(300,146)

(237,511)

Net current assets

 

164,387

725,227

Total assets less current liabilities

 

1,698,363

1,530,945

Provisions for liabilities

(36,570)

(30,516)

Net assets

 

1,661,793

1,500,429

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

1,661,693

1,500,329

Shareholders' funds

 

1,661,793

1,500,429

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.

 

Bispham & Cleveleys Kitchens Ltd

(Registration number: 04736221)
Balance Sheet as at 30 April 2024

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 29 October 2024
 

.........................................
Mr S Hoddy
Director

 

Bispham & Cleveleys Kitchens Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
14-22 Red Bank Road
Bispham
Blackpool
Lancashire
FY2 9HR

These financial statements were authorised for issue by the director on 29 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 current and 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.

 

Bispham & Cleveleys Kitchens Ltd

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable 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

Leasehold Property

10% Straight line

Fixtures, Fittings and & Equipment

25% Reducing balance

Motor Vehicles

25% Reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Bispham & Cleveleys Kitchens Ltd

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

Asset class

Amortisation method and rate

Goodwill

5% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

 

Bispham & Cleveleys Kitchens Ltd

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 42 (2023 - 48).

 

Bispham & Cleveleys Kitchens Ltd

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

1,207,000

1,207,000

At 30 April 2024

1,207,000

1,207,000

Amortisation

At 1 May 2023

1,184,250

1,184,250

Amortisation charge

6,350

6,350

At 30 April 2024

1,190,600

1,190,600

Carrying amount

At 30 April 2024

16,400

16,400

At 30 April 2023

22,750

22,750

 

Bispham & Cleveleys Kitchens Ltd

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

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

64,206

1,519,465

18,769

1,602,440

Additions

-

64,221

-

64,221

Disposals

-

(10,576)

-

(10,576)

At 30 April 2024

64,206

1,573,110

18,769

1,656,085

Depreciation

At 1 May 2023

57,787

1,368,608

15,430

1,441,825

Charge for the year

6,419

53,389

835

60,643

Eliminated on disposal

-

(8,937)

-

(8,937)

At 30 April 2024

64,206

1,413,060

16,265

1,493,531

Carrying amount

At 30 April 2024

-

160,050

2,504

162,554

At 30 April 2023

6,419

150,857

3,339

160,615

Included within the net book value of land and buildings above is £Nil (2023 - £6,420) in respect of long leasehold land and buildings.
 

6

Investment properties

2024
£

At 1 May

622,353

Additions

732,669

At 30 April

1,355,022

There has been no valuation of investment property by an independent valuer.

7

Stocks

2024
£

2023
£

Other inventories

29,080

40,740

 

Bispham & Cleveleys Kitchens Ltd

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

8

Debtors

Current

2024
£

2023
£

Trade debtors

-

12,342

Prepayments

18,731

4,489

 

18,731

16,831

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

81,035

62,803

Taxation and social security

198,233

156,106

Accruals and deferred income

17,357

16,714

Other creditors

3,521

1,888

300,146

237,511

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

99

99

99

99

Ordinary A of £1 each

1

1

1

1

100

100

100

100

 

Bispham & Cleveleys Kitchens Ltd

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

11

Related party transactions

Loans from related parties

2024

Key management
£

Total
£

At start of period

804

804

Advanced

182

182

At end of period

986

986

2023

Key management
£

Total
£

At start of period

272

272

Advanced

532

532

At end of period

804

804

Terms of loans from related parties

Loans are interest free, unsecured and repayable on demand.