Bridport Kitchens Limited 09557048 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is the manufacture and installation of kitchens. Digita Accounts Production Advanced 6.30.9574.0 true 09557048 2023-05-01 2024-04-30 09557048 2024-04-30 09557048 bus:Director1 1 2024-04-30 09557048 bus:OrdinaryShareClass1 2024-04-30 09557048 core:CurrentFinancialInstruments 2024-04-30 09557048 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 09557048 core:Non-currentFinancialInstruments 2024-04-30 09557048 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 09557048 core:FurnitureFittingsToolsEquipment 2024-04-30 09557048 core:MotorVehicles 2024-04-30 09557048 bus:SmallEntities 2023-05-01 2024-04-30 09557048 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 09557048 bus:FullAccounts 2023-05-01 2024-04-30 09557048 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 09557048 bus:RegisteredOffice 2023-05-01 2024-04-30 09557048 bus:Director1 2023-05-01 2024-04-30 09557048 bus:Director1 1 2023-05-01 2024-04-30 09557048 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 09557048 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 09557048 bus:Agent1 2023-05-01 2024-04-30 09557048 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 09557048 core:MotorVehicles 2023-05-01 2024-04-30 09557048 core:PlantMachinery 2023-05-01 2024-04-30 09557048 countries:EnglandWales 2023-05-01 2024-04-30 09557048 2023-04-30 09557048 bus:Director1 1 2023-04-30 09557048 core:FurnitureFittingsToolsEquipment 2023-04-30 09557048 core:MotorVehicles 2023-04-30 09557048 2022-05-01 2023-04-30 09557048 2023-04-30 09557048 bus:Director1 1 2023-04-30 09557048 bus:OrdinaryShareClass1 2023-04-30 09557048 core:CurrentFinancialInstruments 2023-04-30 09557048 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 09557048 core:Non-currentFinancialInstruments 2023-04-30 09557048 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 09557048 core:FurnitureFittingsToolsEquipment 2023-04-30 09557048 core:MotorVehicles 2023-04-30 09557048 bus:Director1 1 2022-05-01 2023-04-30 09557048 bus:Director1 1 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09557048

Bridport Kitchens Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Bridport Kitchens Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Bridport Kitchens Limited

Company Information

Director

Mr L M Teal

Registered office

1 Horn Park Business Centre
Broadwindsor Road
Beaminster
Dorset
DT8 3PT

Accountants

Lanham & Francis
Chartered Accountants
Church House
Church Street
Yeovil
Somerset
BA20 1HB

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Bridport Kitchens Limited
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 Bridport Kitchens Limited for the year ended 30 April 2024 as set out on pages 3 to 10 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 Bridport Kitchens Limited, 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 Bridport Kitchens Limited and state those matters that we have agreed to state to the Board of Directors of Bridport Kitchens Limited, 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 Bridport Kitchens Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Bridport Kitchens Limited 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 Bridport Kitchens Limited. You consider that Bridport Kitchens Limited 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 Bridport Kitchens Limited. 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.






Lanham & Francis
Chartered Accountants
Church House
Church Street
Yeovil
Somerset
BA20 1HB

7 March 2025

 

Bridport Kitchens Limited

(Registration number: 09557048)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

45,977

44,932

Current assets

 

Stocks

5

165,389

138,923

Debtors

6

45,692

40,077

Cash at bank and in hand

 

38,713

33,999

 

249,794

212,999

Creditors: Amounts falling due within one year

7

(212,330)

(167,267)

Net current assets

 

37,464

45,732

Total assets less current liabilities

 

83,441

90,664

Creditors: Amounts falling due after more than one year

7

(49,692)

(62,212)

Provisions for liabilities

(8,735)

(8,537)

Net assets

 

25,014

19,915

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

25,013

19,914

Shareholders' funds

 

25,014

19,915

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.

 

Bridport Kitchens Limited

(Registration number: 09557048)
Balance Sheet as at 30 April 2024 (continued)

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.

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 5 March 2025
 


Mr L M Teal
Director

   
     
 

Bridport Kitchens Limited

Notes to the Unaudited 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:
1 Horn Park Business Centre
Broadwindsor Road
Beaminster
Dorset
DT8 3PT

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

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 value added tax, returns, rebates and discounts. In accordance with UITF40, the company recognises revenue on a contract by contract basis 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.

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 income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Bridport Kitchens Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% per annum, reducing balance basis

Plant and machinery

15% per annum, reducing balance basis

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. In accordance with UITF40, where contracts are incomplete trade debtors reflect the fair value of revenue earned on the contract, less payments received to date.

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, for contracts less than 15% complete, 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Bridport Kitchens Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Financial instruments

Classification
FRS 102 classifies financial instruments as either basic financial instruments or other financial instruments. The accounting treatment varies according to the classification.
Basic financial instruments are defined as one of the following:
- cash
- a debt instrument (such as accounts receivable and payable)
- commitment to receive a loan that satisfy certain criteria
- investments in non-convertible preference shares, and non puttable ordinary shares.

All other financial instruments are classed as other financial instruments and treated accordingly.

 Recognition and measurement
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 16 (2023 - 16).

 

Bridport Kitchens Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

64,608

4,800

69,408

Additions

-

10,550

10,550

At 30 April 2024

64,608

15,350

79,958

Depreciation

At 1 May 2023

20,245

4,231

24,476

Charge for the year

6,654

2,851

9,505

At 30 April 2024

26,899

7,082

33,981

Carrying amount

At 30 April 2024

37,709

8,268

45,977

At 30 April 2023

44,363

569

44,932

5

Stocks

2024
£

2023
£

Other inventories

165,389

138,923

6

Debtors

Current

2024
£

2023
£

Trade debtors

37,318

27,623

Prepayments

157

157

Other debtors

8,217

12,297

 

45,692

40,077

 

Bridport Kitchens Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

12,923

27,387

Trade creditors

 

30,923

40,680

Taxation and social security

 

46,548

57,194

Accruals and deferred income

 

22,962

23,186

Other creditors

 

98,974

18,820

 

212,330

167,267

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

49,692

62,212

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

         
 

Bridport Kitchens Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

33,414

38,018

Other borrowings

16,278

24,194

49,692

62,212

2024
£

2023
£

Current loans and borrowings

Bank borrowings

4,604

4,403

Bank overdrafts

-

4,474

Other borrowings

8,319

18,510

12,923

27,387

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £8,476 (2023 - £11,556).

11

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Repayments by director
£

At 30 April 2024
£

Mr L M Teal

Interest free loan

(10,686)

(42,028)

(52,714)

       
     

 

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Mr L M Teal

Interest free loan

(13,377)

26,591

(23,900)

(10,686)