Rhythm Kitchen Ltd
Unaudited Financial Statements
For the year ended 31 August 2024
Pages for Filing with Registrar
Company Registration No. 08335684 (England and Wales)
Rhythm Kitchen Ltd
Company Information
Directors
D Dixon
J Roth
Company number
08335684
Registered office
B005 Trident Business Centre
89 Bickersteth Road
Tooting
London
United Kingdom
SW17 9SH
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Rhythm Kitchen Ltd
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Rhythm Kitchen Ltd
Balance Sheet
As at 31 August 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
68,501
56,635
Current assets
Stock
8,458
8,450
Debtors
4
63,675
13,257
Cash at bank and in hand
52,567
65,170
124,700
86,877
Creditors: amounts falling due within one year
5
(130,203)
(93,990)
Net current liabilities
(5,503)
(7,113)
Total assets less current liabilities
62,998
49,522
Creditors: amounts falling due after more than one year
6
(22,000)
Net assets
62,998
27,522
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
62,898
27,422
Total equity
62,998
27,522
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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.
Rhythm Kitchen Ltd
Balance Sheet (Continued)
As at 31 August 2024
Page 2
The financial statements were approved by the board of directors and authorised for issue on 12 June 2025 and are signed on its behalf by:
D Dixon
J Roth
Director
Director
Company Registration No. 08335684
Rhythm Kitchen Ltd
Notes to the Financial Statements
For the year ended 31 August 2024
Page 3
1
Accounting policies
Company information
Rhythm Kitchen Ltd is a private company limited by shares incorporated in England and Wales. The registered office is B005 Trident Business Centre, 89 Bickersteth Road, Tooting, London, United Kingdom, SW17 9SH.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of 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 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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
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:
Leasehold land and buildings
15 years straight line
Plant and equipment
20% straight line
Fixtures and fittings
20% straight line
Computer equipment
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stock
Stock 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 stock to their present location and condition.
1.5
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Rhythm Kitchen Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 August 2024
1
Accounting policies
(Continued)
Page 4
1.6
Financial instruments
All of the company's financial assets and liabilities are basic and measured at amortised cost.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 14 (2023: 14).
Rhythm Kitchen Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 August 2024
Page 5
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 September 2023
76,551
78,150
154,701
Additions
21,608
21,608
At 31 August 2024
76,551
99,758
176,309
Depreciation and impairment
At 1 September 2023
25,942
72,124
98,066
Depreciation charged in the year
5,104
4,638
9,742
At 31 August 2024
31,046
76,762
107,808
Carrying amount
At 31 August 2024
45,505
22,996
68,501
At 31 August 2023
50,609
6,026
56,635
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
13,532
2,822
Other debtors
-
1,820
Prepayments and accrued income
50,143
8,615
63,675
13,257
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
12,000
Trade creditors
19,488
17,396
Amounts owed to group undertakings
13,842
3,274
Corporation tax
6,224
23,070
Other taxation and social security
18,802
14,856
Other creditors
53,333
14,761
Accruals and deferred income
18,514
8,633
130,203
93,990
Rhythm Kitchen Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 August 2024
Page 6
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
22,000
7
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
100 ordinary shares of £1 each
100
100
8
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
Within one year
18,000
18,000
Between two and five years
72,000
72,000
In over five years
57,000
75,000
147,000
165,000
9
Related party transactions
At the year end included in other creditors are amounts owed to D Dixon of £46,382 (2023: £1,820 owed by D Dixon).
At the year end included in other creditors is an amount due to a company under common control of £13,842 (2023: £3,274).