Painted Kitchen Company Ltd 15415394 false 2024-01-16 2025-01-31 2025-01-31 The principal activity of the company is Manufacturer of kitchen furniture Digita Accounts Production Advanced 6.30.9574.0 true 15415394 2024-01-16 2025-01-31 15415394 2025-01-31 15415394 bus:Director1 1 2025-01-31 15415394 bus:OrdinaryShareClass1 2025-01-31 15415394 core:CurrentFinancialInstruments 2025-01-31 15415394 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 15415394 core:Goodwill 2025-01-31 15415394 core:FurnitureFittingsToolsEquipment 2025-01-31 15415394 bus:SmallEntities 2024-01-16 2025-01-31 15415394 bus:AuditExemptWithAccountantsReport 2024-01-16 2025-01-31 15415394 bus:FilletedAccounts 2024-01-16 2025-01-31 15415394 bus:SmallCompaniesRegimeForAccounts 2024-01-16 2025-01-31 15415394 bus:RegisteredOffice 2024-01-16 2025-01-31 15415394 bus:Director1 2024-01-16 2025-01-31 15415394 bus:Director1 1 2024-01-16 2025-01-31 15415394 bus:OrdinaryShareClass1 2024-01-16 2025-01-31 15415394 bus:PrivateLimitedCompanyLtd 2024-01-16 2025-01-31 15415394 bus:Agent1 2024-01-16 2025-01-31 15415394 core:Goodwill 2024-01-16 2025-01-31 15415394 core:FurnitureFittings 2024-01-16 2025-01-31 15415394 core:FurnitureFittingsToolsEquipment 2024-01-16 2025-01-31 15415394 core:OfficeEquipment 2024-01-16 2025-01-31 15415394 countries:EnglandWales 2024-01-16 2025-01-31 15415394 bus:Director1 1 2024-01-15 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 15415394

Painted Kitchen Company Ltd

Unaudited Filleted Financial Statements

for the Period from 16 January 2024 to 31 January 2025

 

Painted Kitchen Company Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Painted Kitchen Company Ltd

Company Information

Director

Mr Alan Richards

Registered office

36 Mount Pleasant Drive
Bournemouth
Dorset
BH8 9JN

Accountants

Neil Wilson Accountancy Limited Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

Painted Kitchen Company Ltd

(Registration number: 15415394)
Balance Sheet as at 31 January 2025

Note

2025
£

Fixed assets

 

Intangible assets

4

1,800

Tangible assets

5

7,525

 

9,325

Current assets

 

Stocks

6

133,000

Debtors

7

40,808

Cash at bank and in hand

 

110,510

 

284,318

Creditors: Amounts falling due within one year

8

(193,797)

Net current assets

 

90,521

Total assets less current liabilities

 

99,846

Provisions for liabilities

(62,013)

Net assets

 

37,833

Capital and reserves

 

Called up share capital

9

100

Retained earnings

37,733

Shareholders' funds

 

37,833

For the financial period ending 31 January 2025 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 period 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.

These financial statements have been prepared and 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 13 May 2025
 

.........................................
Mr Alan Richards
Director

 

Painted Kitchen Company Ltd

Notes to the Unaudited Financial Statements for the Period from 16 January 2024 to 31 January 2025

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:
36 Mount Pleasant Drive
Bournemouth
Dorset
BH8 9JN

These financial statements were authorised for issue by the director on 13 May 2025.

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.

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 sales/value added tax, returns, rebates and discounts.

The company recognises revenue 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.

 

Painted Kitchen Company Ltd

Notes to the Unaudited Financial Statements for the Period from 16 January 2024 to 31 January 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% Reducing balance

Office Equipment

25% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

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.

 

Painted Kitchen Company Ltd

Notes to the Unaudited Financial Statements for the Period from 16 January 2024 to 31 January 2025

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 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 7.

 

Painted Kitchen Company Ltd

Notes to the Unaudited Financial Statements for the Period from 16 January 2024 to 31 January 2025

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

2,400

2,400

At 31 January 2025

2,400

2,400

Amortisation

Amortisation charge

600

600

At 31 January 2025

600

600

Carrying amount

At 31 January 2025

1,800

1,800

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

10,033

10,033

At 31 January 2025

10,033

10,033

Depreciation

Charge for the period

2,508

2,508

At 31 January 2025

2,508

2,508

Carrying amount

At 31 January 2025

7,525

7,525

6

Stocks

2025
£

Work in progress

25,000

Other inventories

108,000

133,000

 

Painted Kitchen Company Ltd

Notes to the Unaudited Financial Statements for the Period from 16 January 2024 to 31 January 2025

7

Debtors

Current

2025
£

Trade debtors

40,808

 

40,808

 

Painted Kitchen Company Ltd

Notes to the Unaudited Financial Statements for the Period from 16 January 2024 to 31 January 2025

8

Creditors

Creditors: amounts falling due within one year

2025
£

Due within one year

Taxation and social security

45,268

Accruals and deferred income

26,130

Other creditors

122,399

193,797

9

Share capital

Allotted, called up and fully paid shares

2025

No.

£

Ordinary £1 share of £1 each

100

100

   

10

Dividends

2025

£

Interim dividend of £300.00 per ordinary share

30,000

 

11

Related party transactions

Transactions with the director

2025

At 16 January 2024
£

Repayments by director
£

At 31 January 2025
£

Mr Alan Richards

Alan Richards

-

(41,594)

(41,594)

Director's remuneration

The director's remuneration for the period was as follows:

 

Painted Kitchen Company Ltd

Notes to the Unaudited Financial Statements for the Period from 16 January 2024 to 31 January 2025

2025
£

Remuneration

4,190

Contributions paid to money purchase schemes

60,000

64,190

Dividends paid to the director

2025
£

Mr Alan Richards

Alan Richards

30,000