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Registered number: 12254165
Kitchen Direct Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
E Johnson & Associates Ltd
637 Green Lanes
London
N8 0RE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12254165
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 210,724 212,284
210,724 212,284
CURRENT ASSETS
Stocks 5 61,209 142,603
Debtors 6 257,094 135,144
Cash at bank and in hand 7,663 16,239
325,966 293,986
Creditors: Amounts Falling Due Within One Year 7 (240,774 ) (202,946 )
NET CURRENT ASSETS (LIABILITIES) 85,192 91,040
TOTAL ASSETS LESS CURRENT LIABILITIES 295,916 303,324
Creditors: Amounts Falling Due After More Than One Year 8 (91,997 ) (120,373 )
NET ASSETS 203,919 182,951
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 203,918 182,950
SHAREHOLDERS' FUNDS 203,919 182,951
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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 her 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
Miss M I Todorova
Director
21st 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 Direct Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12254165 . The registered office is 239 King Henrys Drive New Addington, Croydon, CR0 0AE.
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 25% on reducing balance
Motor Vehicles 25% on reducing balance
Computer Equipment 25% on 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.
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2.6. 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 2)
1 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2024 326,284 27,500 5,647 359,431
Additions 31,807 - 14,002 45,809
As at 31 March 2025 358,091 27,500 19,649 405,240
Depreciation
As at 1 April 2024 129,742 14,141 3,264 147,147
Provided during the period 38,621 4,453 4,295 47,369
As at 31 March 2025 168,363 18,594 7,559 194,516
Net Book Value
As at 31 March 2025 189,728 8,906 12,090 210,724
As at 1 April 2024 196,542 13,359 2,383 212,284
5. Stocks
2025 2024
£ £
Work in progress 61,209 142,603
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6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 114,064 26,755
Other debtors 143,030 108,389
257,094 135,144
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 31,298 26,430
Trade creditors 111,167 52,055
Bank loans and overdrafts 6,250 6,250
Other loans 71,883 63,278
Other creditors 2,013 5,626
Taxation and social security 18,163 49,307
240,774 202,946
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 69,080 91,206
Bank loans 22,917 29,167
91,997 120,373
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 31,298 26,430
Later than one year and not later than five years 69,080 91,206
100,378 117,636
100,378 117,636
10. Share Capital
2025 2024
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 1.00 each 1 1
11. Dividends
2025 2024
£ £
On equity shares:
Final dividend paid 42,000 59,000
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12. Related Party Transactions
During the year, total dividends of £42,000 were paid to the director.
13. Ultimate Controlling Party
The company's ultimate controlling party is Ms M I Todorova by virtue of his ownership of 100% of the issued share capital in the company.
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