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Company registration number:
05279193
Kitchens By Design (Norfolk) Limited
Unaudited Financial Statements for the year ended
30 November 2024
Kitchens By Design (Norfolk) Limited
Officers and Professional Advisers
Year ended
30 November 2024
Directors
M Newman
P Newman
T Newman
Registered office
73 Plumstead Road
Thorpe End
Norwich
Norfolk
NR13 5AJ
England
Accountant
Sharon Secker Accountancy & Bookkeeeping Services
Driftwood
Kimberley Road
Bacton
Norfolk
NR12 0EN
United Kingdom
Kitchens By Design (Norfolk) Limited
Directors' Report
Year ended
30 November 2024
The directors present their report and the unaudited
financial statements
of the company for the year ended 30 November 2024.

Directors

The directors who served the company during the year were as follows:
M Newman
P Newman
T Newman

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
14 March 2025
and signed on behalf of the board by:
M Newman
P Newman
DirectorDirector
Kitchens By Design (Norfolk) Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Kitchens By Design (Norfolk) Limited
Year ended
30 November 2024
As described on the statement of financial position, the Board of Directors of
Kitchens By Design (Norfolk) Limited
are responsible for the preparation of the
financial statements
for the year ended
30 November 2024
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Sharon Secker Accountancy & Bookkeeeping Services
Driftwood
Kimberley Road
Bacton
Norfolk
NR12 0EN
United Kingdom
Date:
7 March 2025
Kitchens By Design (Norfolk) Limited
Income Statement
Year ended
30 November 2024
20242023
££
Turnover
531,045
 
824,860
 
Cost of sales
(345,145
) (529,101 )
Gross profit
185,900
 
295,759
 
Administrative expenses
(155,339
)
(157,817
)
Operating profit
30,561
 
137,942
 
Other interest receivable and similar income
3,110
 
1,399
 
Interest payable and similar expenses -  
(79
)
Profit before tax
33,671
 
139,262
 
Tax on profit
(5,597
)
(35,033
)
Profit for the financial year
28,074
 
104,229
 
The company has no other recognised items of income or expense other than the results for the year as set out above.
Kitchens By Design (Norfolk) Limited
Statement of Income and Retained Earnings
Year ended
30 November 2024
20242023
££
Retained earnings at the start of the year
177,833
 
202,666
 
Profit for the financial year
28,074
 
104,229
 
Dividends declared and paid or payable during the year
(63,196
)
(129,062
)
Retained earnings at the end of the year
142,711
 
177,833
 
Kitchens By Design (Norfolk) Limited
Statement of Financial Position
30 November 2024
20242023
Note££
Fixed assets    
Tangible assets 5
52,598
 
66,021
 
Current assets    
Stocks
3,850
 
3,036
 
Debtors 6
75,090
 
12,282
 
Cash at bank and in hand
168,554
 
208,091
 
247,494
 
223,409
 
Creditors: amounts falling due within one year 7
(140,008
)
(91,763
)
Net current assets
107,486
 
131,646
 
Total assets less current liabilities 160,084   197,667  
Creditors: amounts falling due after more than one year 8
(10,200
)
(9,305
)
Provisions for liabilities
(7,162
)
(10,518
)
Net assets
142,722
 
177,844
 
Capital and reserves    
Called up share capital
11
 
11
 
Profit and loss account
142,711
 
177,833
 
Shareholders funds
142,722
 
177,844
 
For the year ending
30 November 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
have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These
financial statements
were approved by the board of directors and authorised for issue on
14 March 2025
, and are signed on behalf of the board by:
M Newman
P Newman
DirectorDirector
Company registration number:
05279193
Kitchens By Design (Norfolk) Limited
Notes to the Financial Statements
Year ended
30 November 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
73 Plumstead Road
,
Thorpe End
,
Norwich
,
Norfolk
,
NR13 5AJ
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
33% straight line
Fixtures and fittings
33% straight line
Motor vehicles
33% straight line
Office equipment
33% straight line

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 stocks to their present location and condition.

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 and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4 Average number of employees

The average number of persons employed by the company during the year was
4
(2023:
5.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 December 2023
23,950
 
104,491
 
128,441
 
Additions -  
23,942
 
23,942
 
At
30 November 2024
23,950
 
128,433
 
152,383
 
Depreciation      
At
1 December 2023
9,390
 
53,030
 
62,420
 
Charge
7,983
 
29,382
 
37,365
 
At
30 November 2024
17,373
 
82,412
 
99,785
 
Carrying amount      
At
30 November 2024
6,577
 
46,021
 
52,598
 
At 30 November 2023
14,560
 
51,461
 
66,021
 

6 Debtors

20242023
££
Trade debtors
67,658
 
5,479
 
Other debtors
7,432
 
6,803
 
75,090
 
12,282
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
10,902
 
10,272
 
Taxation and social security
38,110
 
70,233
 
Other creditors
90,996
 
11,258
 
140,008
 
91,763
 

8 Creditors: amounts falling due after more than one year

20242023
££
Other creditors
10,200
 
9,305
 

9 Controlling party

By way of their equal shareholding M Newman and P Newman share ultimate control of the company.