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Registered number: 08384510
Kitchen Craft Design Limited
Financial Statements
For The Year Ended 31 March 2025
Gravitate Accounting
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08384510
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 76,508 187,748
76,508 187,748
CURRENT ASSETS
Stocks 5 553,394 542,792
Debtors 6 436,204 401,656
Cash at bank and in hand 416,438 435,103
1,406,036 1,379,551
Creditors: Amounts Falling Due Within One Year 7 (723,258 ) (750,925 )
NET CURRENT ASSETS (LIABILITIES) 682,778 628,626
TOTAL ASSETS LESS CURRENT LIABILITIES 759,286 816,374
Creditors: Amounts Falling Due After More Than One Year 8 (5,534 ) (147,748 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (37,374 ) (22,722 )
NET ASSETS 716,378 645,904
CAPITAL AND RESERVES
Called up share capital 10 100 1
Profit and Loss Account 716,278 645,903
SHAREHOLDERS' FUNDS 716,378 645,904
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For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
W Toon
Director
19th December 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Kitchen Craft Design Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08384510 . The registered office is Unit 4 Warwick Industrial Estate, Birdholme, Chesterfield, S40 2TT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
Showroom displays 20% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Financial Instruments
Debtors and creditors with no stated interest rate, and repayable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit or loss account within overheads. 
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 21 (2024: 19)
21 19
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Showroom displays Total
£ £ £ £ £
Cost
As at 1 April 2024 55,675 71,971 47,933 145,323 320,902
Additions 4,342 11,016 360 - 15,718
Disposals - (8,378 ) - (129,540 ) (137,918 )
As at 31 March 2025 60,017 74,609 48,293 15,783 198,702
Depreciation
As at 1 April 2024 35,806 32,164 23,565 41,619 133,154
Provided during the period 7,677 12,705 4,946 20,742 46,070
Disposals - (3,665 ) - (53,365 ) (57,030 )
As at 31 March 2025 43,483 41,204 28,511 8,996 122,194
Net Book Value
As at 31 March 2025 16,534 33,405 19,782 6,787 76,508
As at 1 April 2024 19,869 39,807 24,368 103,704 187,748
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2025 2024
£ £
Motor Vehicles 13,667 18,223
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5. Stocks
2025 2024
£ £
Stock 553,394 542,792
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 22,163 23,099
Other debtors 414,041 378,557
436,204 401,656
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 6,641 6,401
Trade creditors 289,344 355,430
Other creditors 274,805 307,157
Taxation and social security 152,468 81,937
723,258 750,925
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 5,534 12,415
Bank loans - 135,333
5,534 147,748
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,641 6,401
Later than one year and not later than five years 5,534 12,415
12,175 18,816
12,175 18,816
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 1
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11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mr William Toon (13,000 ) 117,000 (98,259 ) - 5,741
The above loan is unsecured, interest free and repayable on demand.
12. Related Party Transactions
As at 31 March 2025, amounts owed from entitites under common control £382,399 (2024: £332,071).
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