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COMPANY REGISTRATION NUMBER: 08174862
KIDZ KITCHEN LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 July 2024
KIDZ KITCHEN LIMITED
STATEMENT OF FINANCIAL POSITION
31 July 2024
2024
2023
Note
£
£
£
£
Fixed Assets
Tangible assets
5
96,954
55,523
Current Assets
Stocks
2,619
250
Debtors
6
64,579
61,377
Cash at bank and in hand
165,899
127,267
-----------
-----------
233,097
188,894
Creditors: amounts falling due within one year
7
112,110
88,813
-----------
-----------
Net Current Assets
120,987
100,081
-----------
-----------
Total Assets Less Current Liabilities
217,941
155,604
Creditors: amounts falling due after more than one year
8
24,415
9,509
-----------
-----------
Net Assets
193,526
146,095
-----------
-----------
KIDZ KITCHEN LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 July 2024
2024
2023
Note
£
£
£
£
Capital and Reserves
Called up share capital
6
6
Profit and loss account
193,520
146,089
-----------
-----------
Shareholders Funds
193,526
146,095
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 17 December 2024 , and are signed on behalf of the board by:
A D Bramwell
Director
Company registration number: 08174862
KIDZ KITCHEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Units 4 & 6 Great Northern Terrace, Lincoln, Lincolnshire, LN5 8HJ, England.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% straight line
Equipment
-
20% straight line
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance Leases and Hire Purchase Contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument .
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 14 (2023: 11 ).
5. Tangible Assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 August 2023
59,893
85,016
144,909
Additions
16,074
44,368
60,442
---------
-----------
-----------
At 31 July 2024
75,967
129,384
205,351
---------
-----------
-----------
Depreciation
At 1 August 2023
19,283
70,103
89,386
Charge for the year
14,171
4,840
19,011
---------
-----------
-----------
At 31 July 2024
33,454
74,943
108,397
---------
-----------
-----------
Carrying amount
At 31 July 2024
42,513
54,441
96,954
---------
-----------
-----------
At 31 July 2023
40,610
14,913
55,523
---------
-----------
-----------
6. Debtors
2024
2023
£
£
Trade debtors
62,347
59,745
Other debtors
2,232
1,632
---------
---------
64,579
61,377
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4,229
3,870
Trade creditors
7,286
21,471
Corporation tax
16,016
17,407
Social security and other taxes
50,349
36,090
Other creditors
34,230
9,975
-----------
---------
112,110
88,813
-----------
---------
Bank borrowing is secured by a directors' guarantee.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,280
9,509
Other creditors
19,135
---------
--------
24,415
9,509
---------
--------
Bank borrowing is secured by a directors' guarantee.