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REGISTERED NUMBER: 03985427 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

STEVE REES (KITCHENS) LIMITED

STEVE REES (KITCHENS) LIMITED (REGISTERED NUMBER: 03985427)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STEVE REES (KITCHENS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Mr S J Rees





SECRETARY: Mr S J Rees





REGISTERED OFFICE: 7-8 Raleigh Walk
Waterfront 2000
Brigantine Place
Cardiff
South Glamorgan
CF10 4LN





REGISTERED NUMBER: 03985427 (England and Wales)






STEVE REES (KITCHENS) LIMITED (REGISTERED NUMBER: 03985427)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 13,536 16,920
13,536 16,920

CURRENT ASSETS
Stocks 6 32,271 22,263
Debtors 7 3,643 23,229
Cash at bank 7,648 3,986
43,562 49,478
CREDITORS
Amounts falling due within one year 8 45,478 43,450
NET CURRENT (LIABILITIES)/ASSETS (1,916 ) 6,028
TOTAL ASSETS LESS CURRENT LIABILITIES 11,620 22,948

CREDITORS
Amounts falling due after more than one
year

9

(10,833

)

(15,890

)

PROVISIONS FOR LIABILITIES (3,215 ) (3,215 )
NET (LIABILITIES)/ASSETS (2,428 ) 3,843

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings (3,428 ) 2,843
SHAREHOLDERS' FUNDS (2,428 ) 3,843

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

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.

STEVE REES (KITCHENS) LIMITED (REGISTERED NUMBER: 03985427)

BALANCE SHEET - continued
30 APRIL 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 January 2025 and were signed by:





Mr S J Rees - Director


STEVE REES (KITCHENS) LIMITED (REGISTERED NUMBER: 03985427)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Steve Rees (Kitchens) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 ten 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.


STEVE REES (KITCHENS) LIMITED (REGISTERED NUMBER: 03985427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 30,000
AMORTISATION
At 1 May 2023
and 30 April 2024 30,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

STEVE REES (KITCHENS) LIMITED (REGISTERED NUMBER: 03985427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Office Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023
and 30 April 2024 1,528 16,920 5,850 24,298
DEPRECIATION
At 1 May 2023 1,528 - 5,850 7,378
Charge for year - 3,384 - 3,384
At 30 April 2024 1,528 3,384 5,850 10,762
NET BOOK VALUE
At 30 April 2024 - 13,536 - 13,536
At 30 April 2023 - 16,920 - 16,920

6. STOCKS
30.4.24 30.4.23
£    £   
Stocks 20,997 15,263
Work-in-progress 11,274 7,000
32,271 22,263

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 2,290 21,886
Other debtors 1,144 1,144
Prepayments 209 199
3,643 23,229

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 30,644 30,596
Tax - 3,477
Social security and other taxes 919 733
VAT 8,440 2,919
Other creditors 1,775 2,025
Directors' loan accounts 3,700 3,700
45,478 43,450

STEVE REES (KITCHENS) LIMITED (REGISTERED NUMBER: 03985427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bounce back loan 10,833 15,890

Amounts falling due in more than five years:

Repayable by instalments
Bounce back loan 10,833 15,890

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
1,000 Ordinary £1 1,000 1,000

11. RELATED PARTY DISCLOSURES

The company is controlled by Mr S J Rees who is also the sole director.