Company registration number 03076303 (England and Wales)
Halifax Kitchen & Bedroom Company Ltd
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 May 2024
PAGES FOR FILING WITH REGISTRAR
Halifax Kitchen & Bedroom Company Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
Halifax Kitchen & Bedroom Company Ltd
Statement of Financial Position
as at 31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
88,467
117,956
Current assets
Stocks
35,000
35,000
Debtors
114,596
4,799
Cash at bank and in hand
62,188
96,630
211,784
136,429
Creditors: amounts falling due within one year
(198,041)
(140,793)
Net current assets/(liabilities)
13,743
(4,364)
Total assets less current liabilities
102,210
113,592
Creditors: amounts falling due after more than one year
(89,192)
(59,915)
Provisions for liabilities
(11,967)
(16,309)
Net assets
1,051
37,368
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
951
37,268
Total equity
1,051
37,368
Halifax Kitchen & Bedroom Company Ltd
Statement of Financial Position (continued)
as at 31 May 2024
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 9 May 2025
B Laycock
Director
Company Registration No. 03076303
Halifax Kitchen & Bedroom Company Ltd
Notes to the financial statements
for the year ended 31 May 2024
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The 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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
Turnover is recognised on delivery of goods to customers.
Tangible fixed assets
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% Reducing Balance
Computers
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Halifax Kitchen & Bedroom Company Ltd
Notes to the financial statements (continued)
for the year ended 31 May 2024
1
Accounting policies
(continued)
- 4 -
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
6
9
3
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2023 and 31 May 2024
77,763
4,521
88,650
170,934
Depreciation and impairment
At 1 June 2023
21,625
1,739
29,614
52,978
Depreciation charged in the year
14,035
695
14,759
29,489
At 31 May 2024
35,660
2,434
44,373
82,467
Carrying amount
At 31 May 2024
42,103
2,087
44,277
88,467
At 31 May 2023
56,138
2,782
59,036
117,956
4
Company information
Halifax Kitchen & Bedroom Company Ltd is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.