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Registered number: 03349335
Online Kitchen Store Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03349335
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 767,571 566,959
767,571 566,959
CURRENT ASSETS
Stocks 5 83,157 95,583
Debtors 6 271,385 132,718
Cash at bank and in hand 95,244 67,805
449,786 296,106
Creditors: Amounts Falling Due Within One Year 7 (476,413 ) (315,069 )
NET CURRENT ASSETS (LIABILITIES) (26,627 ) (18,963 )
TOTAL ASSETS LESS CURRENT LIABILITIES 740,944 547,996
Creditors: Amounts Falling Due After More Than One Year 8 (384,895 ) (265,396 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (183,593 ) (104,167 )
NET ASSETS 172,456 178,433
CAPITAL AND RESERVES
Called up share capital 10 49,632 49,632
Profit and Loss Account 122,824 128,801
SHAREHOLDERS' FUNDS 172,456 178,433
Page 1
Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr O Martin
Director
10/12/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Online Kitchen Store Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03349335 . The registered office is 19-21 Manor Road, Caddington, Bedfordshire, LU1 4EE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised once goods have been delivered.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% on cost
Plant & Machinery 10% on cost
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
2.4. Leasing and Hire Purchase Contracts
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.
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.6. 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 orsubstantively enacted by the balance sheet date.
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.
2.7. Pensions
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. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 15)
15 15
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Page 4
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 October 2023 359,926 667,492 169,942 49,370 1,246,730
Additions - 291,665 19,755 11,235 322,655
Disposals - (51,000 ) - - (51,000 )
As at 30 September 2024 359,926 908,157 189,697 60,605 1,518,385
Depreciation
As at 1 October 2023 111,748 482,099 53,176 32,748 679,771
Provided during the period 31,023 49,880 35,347 5,793 122,043
Disposals - (51,000 ) - - (51,000 )
As at 30 September 2024 142,771 480,979 88,523 38,541 750,814
Net Book Value
As at 30 September 2024 217,155 427,178 101,174 22,064 767,571
As at 1 October 2023 248,178 185,393 116,766 16,622 566,959
5. Stocks
2024 2023
£ £
Stock 83,157 95,583
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 201,023 84,196
Prepayments and accrued income 11,031 9,364
Other debtors 225 9,869
Corporation tax recoverable assets 4,948 15,329
Directors' loan accounts - 1,000
Amounts owed by group undertakings 54,158 12,960
271,385 132,718
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 62,285 48,674
Trade creditors 199,028 120,638
Bank loans and overdrafts 31,914 23,540
Corporation tax - 7,105
Other taxes and social security - 6,988
VAT 34,769 36,791
Pension Payable 1,908 624
Bank loans and overdrafts 600 1,335
Accruals and deferred income 145,909 54,546
Amounts owed to group undertakings - 14,828
476,413 315,069
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 134,197 96,347
Bank loans 232,864 169,049
Other loans 17,834 -
384,895 265,396
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 62,285 48,674
Later than one year and not later than five years 134,197 96,347
196,482 145,021
196,482 145,021
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 49,632 49,632
11. Related Party Transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group per section 33.1A of FRS102.
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