REGISTERED NUMBER: 05811339 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2025

for

Lima Kitchens Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Lawson

E L Pantling-Jones

SECRETARY:

M Lawson

REGISTERED OFFICE:

11 Darin Court

Crownhill

Milton Keynes

Buckinghamshire

MK8 0AD

REGISTERED NUMBER:

05811339 (England and Wales)

ACCOUNTANTS:

Connolly Accountants & Business Advisors Ltd

Chartered Certified Accountants

The Stable Yard

25-33 Vicarage Road

Stony Stratford

Milton Keynes

Buckinghamshire

MK11 1BN

FIXED ASSETS

Tangible assets

4

53,815

73,192

CURRENT ASSETS

Stocks

22,000

32,789

Debtors

5

52,359

57,625

Cash at bank

251,740

212,632

326,099

303,046

CREDITORS

Amounts falling due within one year

6

274,956

251,114

NET CURRENT ASSETS

51,143

51,932

TOTAL ASSETS LESS CURRENT LIABILITIES

104,958

125,124

PROVISIONS FOR LIABILITIES

12,464

15,304

NET ASSETS

92,494

109,820

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

92,492

109,818

SHAREHOLDERS' FUNDS

92,494

109,820

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2025 and were signed on its behalf by:

M Lawson - Director

1.	STATUTORY INFORMATION

Lima Kitchens Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	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.

Improvements to property

-

10% on cost

Fixtures and fittings

-

3 years and 20% on cost

Computer equipment

-

3 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors and loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 June 2024

1,750

116,560

16,410

134,720

Additions

-

1,982

2,914

4,896

At 31 May 2025

1,750

118,542

19,324

139,616

DEPRECIATION

At 1 June 2024

1,750

49,066

10,712

61,528

Charge for year

-

20,687

3,586

24,273

At 31 May 2025

1,750

69,753

14,298

85,801

NET BOOK VALUE

At 31 May 2025

-

48,789

5,026

53,815

At 31 May 2024

-

67,494

5,698

73,192

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

39,177

48,978

Other debtors

13,182

8,647

52,359

57,625

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

84,722

29,463

Taxation and social security

49,458

40,681

Other creditors

140,776

180,970

274,956

251,114

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

24,768

24,768

Between one and five years

29,568

54,336

54,336

79,104

8.	PENSION COMMITMENTS

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. The assets of the scheme are held separately from those of the company in an independently administered fund.

Contributions totalling £758 (2024 :£732) were payable to the fund at the balance sheet date and are included in other creditors.