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Registered number: 12111668
1 Kitchen Installation Solutions Services Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Elsby & Company Limited
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12111668
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 23,880 31,564
23,880 31,564
CURRENT ASSETS
Stocks 5 45,298 59,486
Debtors 6 24,409 15,714
Cash at bank and in hand 284 3,037
69,991 78,237
Creditors: Amounts Falling Due Within One Year 7 (131,856 ) (50,781 )
NET CURRENT ASSETS (LIABILITIES) (61,865 ) 27,456
TOTAL ASSETS LESS CURRENT LIABILITIES (37,985 ) 59,020
Creditors: Amounts Falling Due After More Than One Year 8 (31,107 ) (31,336 )
NET (LIABILITIES)/ASSETS (69,092 ) 27,684
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (69,192 ) 27,584
SHAREHOLDERS' FUNDS (69,092) 27,684
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Page 2
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.
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 D Farrar
Director
13th February 2025
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
1 Kitchen Installation Solutions Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12111668 . The registered office is 155 Wellingborough Road, Rushden, Northamptonshire, NN10 9TB.
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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Straight Line
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
The taxation expense represents the sum of the corporation tax currently payable and any deferred tax.
The corporation tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at 31 July 2024.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 August 2023 31,751 5,200 36,951
Additions 709 - 709
As at 31 July 2024 32,460 5,200 37,660
Depreciation
As at 1 August 2023 4,087 1,300 5,387
Provided during the period 7,093 1,300 8,393
As at 31 July 2024 11,180 2,600 13,780
Net Book Value
As at 31 July 2024 21,280 2,600 23,880
As at 1 August 2023 27,664 3,900 31,564
5. Stocks
2024 2023
£ £
Stock 3,631 2,000
Work in progress 41,667 57,486
45,298 59,486
6. Debtors
2024 2023
£ £
Due within one year
Amounts owed by group undertakings 6,615 8,188
Other debtors 17,794 7,526
24,409 15,714
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 32,446 16,081
Bank loans and overdrafts 7,847 7,842
Amounts owed to group undertakings 46,708 -
Other creditors 2,786 17,244
Taxation and social security 42,069 9,614
131,856 50,781
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 31,107 31,336
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9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
Page 5