Registered number
08353736
Neumann Kitchens Ltd
Filleted Accounts
31 December 2023
Neumann Kitchens Ltd
Registered number: 08353736
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,770 9,622
Current assets
Stocks 11,500 24,050
Debtors 4 31,543 16,114
Cash at bank and in hand 49,514 98,818
92,557 138,982
Creditors: amounts falling due within one year 5 (68,205) (111,138)
Net current assets 24,352 27,844
Total assets less current liabilities 31,122 37,466
Creditors: amounts falling due after more than one year 6 (28,812) (36,285)
Net assets 2,310 1,181
Capital and reserves
Called up share capital 2 2
Profit and loss account 2,308 1,179
Shareholders' funds 2,310 1,181
The director is 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 director acknowledges his 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.
J. Neumann
Director
Approved by the board on 27 December 2024
Neumann Kitchens Ltd
Notes to the Accounts
for the year ended 31 December 2023
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.
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:
Plant and machinery 20% per anum on cost
Motor vehicles 25% on written down values
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. 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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
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. 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. Current and deferred tax assets and liabilities are not discounted.
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 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 4,335 21,221 25,556
At 31 December 2023 4,335 21,221 25,556
Depreciation
At 1 January 2023 2,473 13,461 15,934
Charge for the year 912 1,940 2,852
At 31 December 2023 3,385 15,401 18,786
Net book value
At 31 December 2023 950 5,820 6,770
At 31 December 2022 1,862 7,760 9,622
4 Debtors 2023 2022
£ £
Trade debtors 14,043 2,730
Other debtors 17,500 13,384
31,543 16,114
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 6,570 6,570
Obligations under finance lease and hire purchase contracts - 3,978
Trade creditors 11,375 57,584
Corporation tax 46,968 41,706
Other taxes and social security costs 1,992 -
Other creditors 1,300 1,300
68,205 111,138
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 28,812 34,325
Obligations under finance lease and hire purchase contracts - 1,960
28,812 36,285
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
J Neumann
Loan to director 10,000 10,000 (10,000) 10,000
10,000 10,000 (10,000) 10,000
The loan to the director was unsecured and interest free and was repaid after the year end.
8 Other information
Neumann Kitchens Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Fides House
10 Chertsey Road
Woking
Surrey
GU21 5AB
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