HUNT BESPOKE KITCHENS & INTERIORS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
Company Registration Number: 04661034
HUNT BESPOKE KITCHENS & INTERIORS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 11
HUNT BESPOKE KITCHENS & INTERIORS LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024
DIRECTOR
A C T Forster
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
The Fodder Barn
Charlton House Farm
Hinton-in-the-Hedges
Brackley
Northamptonshire
NN13 5LH
COMPANY REGISTRATION NUMBER
04661034 England and Wales
HUNT BESPOKE KITCHENS & INTERIORS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
Notes 2024 2023
£ £
FIXED ASSETS
Intangible assets 5 10,105 18,254
Tangible assets 6 102,715 16,113
112,820 34,367
CURRENT ASSETS
Stock 10,120 15,865
Debtors 7 221,080 225,984
Cash at bank and in hand 72,867 84,888
304,067 326,737
CREDITORS: Amounts falling due within one year 8 143,829 127,967
NET CURRENT ASSETS 160,238 198,770
TOTAL ASSETS LESS CURRENT LIABILITIES 273,058 233,137
CREDITORS: Amounts falling due after more than one year 9 66,181 24,000
Provisions for liabilities and charges 19,356 2,868
NET ASSETS 187,521 206,269
CAPITAL AND RESERVES
Called up share capital 100 100
Distributable profit and loss account 187,421 206,169
SHAREHOLDER'S FUNDS 187,521 206,269
HUNT BESPOKE KITCHENS & INTERIORS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board
A C T Forster
Director
Date approved by the board: 26 September 2025
HUNT BESPOKE KITCHENS & INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1 GENERAL INFORMATION
Hunt Bespoke Kitchens & Interiors Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
The Fodder Barn
Charlton House Farm
Hinton-in-the-Hedges
Brackley
Northamptonshire
NN13 5LH
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of the provision of joinery installation services as soon as there is a right to consideration as is determined by reference to the value of the work performed. Revenue is reported in the period in which the service has been provided and reflects the partial performance of the company's contractual obligation where this can be measured reliably. Turnover is stated net of trade discounts and value added tax.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Intangible fixed assets
Intangible fixed assets, other than goodwill, are stated at cost less accumulated amortisation and any accumulated impairment losses. It is amortised on a straight-line basis over its useful economic life of 3 years.
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. At acquisition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses.
Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life. This is now fully amortised.
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations.
HUNT BESPOKE KITCHENS & INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rates so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Land and buildings Straight line basis at 20% per annum
Plant and machinery Straight line basis at 15% per annum
Office and computer equipment Straight line basis at 20% per annum
Motor vehicles Reducing balance basis at 20% per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
HUNT BESPOKE KITCHENS & INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
Stock
Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a first in first out basis.
The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Work in progress
Work in progress has been valued at the lower of cost and estimated selling price less cost to complete and sell. Cost comprises the cost of materials and direct labour relevant to the stage of construction.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
HUNT BESPOKE KITCHENS & INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Leases
Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.
Assets held under finance leases are recognised in accordance with the company's policy for tangible fixed assets. The corresponding obligations to lessors under finance leases are treated in the balance sheet as a liability. The assets and liabilities under finance leases are recognised at amounts equal to the fair value of the assets, or if lower, the present value of minimum lease payments, determined at the inception of the lease.
Minimum lease payments are apportioned between finance charges and the reduction in the outstanding liabilities using the effective interest method. The finance charge is allocated to each period during the lease so as to produce a constant rate of interest on the remaining balance of the liabilities. Finance charges are recognised in the profit and loss account.
Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.
Deferred tax is measured using 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.
Current and deferred tax assets and liabilities are not discounted.
Pensions
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.
HUNT BESPOKE KITCHENS & INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the director in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2024 2023
Average number of employees 8 9
5 INTANGIBLE FIXED ASSETS
Goodwill Website Total
£ £ £
Cost
At 1 January 2024 27,000 24,450 51,450
At 31 December 2024 27,000 24,450 51,450
Accumulated amounts written off
At 1 January 2024 27,000 6,196 33,196
Charge for year - 8,149 8,149
At 31 December 2024 27,000 14,345 41,345
Net book value
At 1 January 2024 - 18,254 18,254
At 31 December 2024 - 10,105 10,105
HUNT BESPOKE KITCHENS & INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
6 TANGIBLE ASSETS
Land and buildings Plant and machinery Office and computer equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 January 2024 2,000 39,849 13,447 30,285 85,581
Additions - 97,271 1,410 - 98,681
At 31 December 2024 2,000 137,120 14,857 30,285 184,262
Accumulated depreciation and impairments
At 1 January 2024 2,000 38,619 5,161 23,688 69,468
Charge for year - 7,915 2,845 1,319 12,079
At 31 December 2024 2,000 46,534 8,006 25,007 81,547
Net book value
At 1 January 2024 - 1,230 8,286 6,597 16,113
At 31 December 2024 - 90,586 6,851 5,278 102,715
Included in the above are assets held under finance leases and hire purchase contracts as follows:
Land and buildings Plant and machinery Office and computer equipment Motor vehicles Total
£ £ £ £ £
Depreciation and impairments charge for year - 7,225 - - 7,225
Net book value
At 1 January 2024 - - - - -
At 31 December 2024 - 85,735 - - 85,735
7 DEBTORS
2024 2023
£ £
Trade debtors 8,711 10,839
Prepayments and accrued income 1,142 1,490
Other debtors 211,227 213,655
221,080 225,984
HUNT BESPOKE KITCHENS & INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
8 CREDITORS: Amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 16,000 16,000
Trade creditors 43,456 19,549
Taxation and social security 25,648 64,886
Hire purchase contracts and finance leases 17,988 -
Accruals and deferred income 36,990 25,456
Other creditors 3,747 2,076
143,829 127,967
9 CREDITORS: Amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 8,000 24,000
Hire purchase contracts and finance leases 58,181 -
66,181 24,000
10 SECURED DEBTS
The hire purchase contracts and finance leases are secured on the assets concerned.
11 CONTINGENCIES AND COMMITMENTS
Other Commitments
Amounts falling due under operating leases: 2024 2023
£ £
In less than one year 21,740 6,916
In more than one but less than five years 47,600 -
69,340 6,916
After the year end but before the accounts were approved, the company entered into a new lease agreement. The amounts falling due in less than one year are £12,551 and the amounts falling due in more than one year but less than five years are £51,997.
HUNT BESPOKE KITCHENS & INTERIORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
12 CONTINGENT ASSETS
A contingent asset has been disclosed in these accounts in respect of professional fees totalling £10,177 paid to an R&D specialist firm which may be refunded to the company depending on the outcome of an ongoing review of the company’s R&D claims. The outcome of this review is not known for certain however it is considered more likely than not that the fees will be repaid to the company.
13 RELATED PARTY TRANSACTIONS
The company has claimed exemptions from reporting disclosure of related party transactions with the following wholly owned group members:
Aberfoss Limited Parent company
During the year, the following transactions with related parties took place:
A C T Forster
Director 2024 2023
£ £
Loan from director The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount: 2,485 1,097
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