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REGISTERED NUMBER: 05153080















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

KITCHEN SOLUTIONS LIMITED

KITCHEN SOLUTIONS LIMITED (REGISTERED NUMBER: 05153080)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KITCHEN SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr J G Mitchell
Mr J W Walker





REGISTERED OFFICE: Kings Norton Business Centre
20 Prince Road
Kings Norton
Birmingham
West Midlands
B30 3HB





REGISTERED NUMBER: 05153080





ACCOUNTANTS: Lowson Ward
Chartered Accountants
292 Wake Green Road
Birmingham
B13 9QP

KITCHEN SOLUTIONS LIMITED (REGISTERED NUMBER: 05153080)

BALANCE SHEET
31 DECEMBER 2024

31/12/24 31/12/23
Notes £    £   
FIXED ASSETS
Tangible assets 3 9,980 15,914

CURRENT ASSETS
Stocks 532,780 563,560
Debtors 4 17,480 60,123
Cash at bank and in hand 104,026 111,728
654,286 735,411
CREDITORS
Amounts falling due within one year 5 (421,615 ) (501,111 )
NET CURRENT ASSETS 232,671 234,300
TOTAL ASSETS LESS CURRENT
LIABILITIES

242,651

250,214

CREDITORS
Amounts falling due after more than
one year

6

(21,789

)

(64,060

)

PROVISIONS FOR LIABILITIES (2,500 ) (3,200 )
NET ASSETS 218,362 182,954

KITCHEN SOLUTIONS LIMITED (REGISTERED NUMBER: 05153080)

BALANCE SHEET - continued
31 DECEMBER 2024

31/12/24 31/12/23
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 218,162 182,754
SHAREHOLDERS' FUNDS 8 218,362 182,954

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2025 and were signed on its behalf by:





Mr J G Mitchell - Director


KITCHEN SOLUTIONS LIMITED (REGISTERED NUMBER: 05153080)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 40% p.a. reducing balance

All fixed assets are initially recorded at cost.

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

KITCHEN SOLUTIONS LIMITED (REGISTERED NUMBER: 05153080)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

KITCHEN SOLUTIONS LIMITED (REGISTERED NUMBER: 05153080)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

3. TANGIBLE FIXED ASSETS
Fixtures
and Motor
Website fittings vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 8,800 321 16,800 3,626 29,547
Additions - - - 720 720
Reclassification/transfer - (321 ) - 321 -
At 31 December 2024 8,800 - 16,800 4,667 30,267
DEPRECIATION
At 1 January 2024 3,520 321 6,720 3,072 13,633
Charge for year 2,112 - 4,032 510 6,654
Reclassification/transfer - (321 ) - 321 -
At 31 December 2024 5,632 - 10,752 3,903 20,287
NET BOOK VALUE
At 31 December 2024 3,168 - 6,048 764 9,980
At 31 December 2023 5,280 - 10,080 554 15,914

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade debtors 17,480 60,123

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Bank loans and overdrafts 10,000 10,000
Funding Circle loans 32,704 65,054
Capital on tap 49,790 -
Trade creditors 245,077 355,028
Corporation tax 25,950 20,983
PAYE and NIC 12,162 10,140
VAT 16,254 12,794
Other creditors 14,459 5,764
Wages control account 7,755 3,653
Directors' current accounts 2,584 13,775
Accruals and deferred income 4,880 3,920
421,615 501,111

KITCHEN SOLUTIONS LIMITED (REGISTERED NUMBER: 05153080)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/12/24 31/12/23
£    £   
Bank loans - 2-5 years 9,300 19,873
Funding Circle loans 12,489 44,187
21,789 64,060

7. SECURED DEBTS

The following secured debts are included within creditors:

31/12/24 31/12/23
£    £   
Bank loans 19,300 29,873
Funding Circle loans 32,704 65,054
Capital on tap 49,790 -
Funding Circle loans 12,489 44,187
114,283 139,114

8. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
31/12/24 31/12/23
£    £   
Profit for the financial year 40,408 56,188
Dividends (5,000 ) (22,500 )
35,408 33,688
Opening shareholders' funds - 149,266
Net addition to shareholders' funds 35,408 182,954
Opening shareholders' funds 182,954 -
Closing shareholders' funds 218,362 182,954