J N K Kitchen Studios Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC459492

J N K Kitchen Studios Ltd

Filleted Unaudited Financial Statements

31 October 2025

J N K Kitchen Studios Ltd

Financial Statements

Year ended 31 October 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

J N K Kitchen Studios Ltd

Statement of Financial Position

31 October 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		602,718	596,842

Current assets

Stocks		483,054	443,706
Debtors	6	95,190	94,825
Cash at bank and in hand		136,172	190,964
		---------	---------
		714,416	729,495

Creditors: amounts falling due within one year	7	612,874		602,125
		---------		---------
Net current assets			101,542	127,370
			---------	---------
Total assets less current liabilities			704,260	724,212

Creditors: amounts falling due after more than one year	8		30,396	24,350

Provisions

Taxation including deferred tax	29,261	27,055
	---------	---------
Net assets	644,603	672,807
	---------	---------

Capital and reserves

Called up share capital	2	2
Non-distributable reserve	25,940	25,940
Profit and loss account	618,661	646,865
	---------	---------
Shareholders funds	644,603	672,807
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

J N K Kitchen Studios Ltd

Statement of Financial Position (continued)

31 October 2025

These financial statements were approved by the board of directors and authorised for issue on 24 July 2026 , and are signed on behalf of the board by:

Mr R Stewart	Mrs J Stewart
Director	Director

Company registration number: SC459492

J N K Kitchen Studios Ltd

Notes to the Financial Statements

Year ended 31 October 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 25 Tyock Industrial Estate, Elgin, IV30 1XY, Moray.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Property	-	2% straight line
Plant & Machinery	-	20% reducing balance
Motor Vehicles	-	25% reducing balance
Office Equipment	-	20% reducing balance

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

The following assets and liabilities are classified as financial instruments - bank, trade debtors, trade creditors, bank loans, directors' loans to the company. Cash and cash equivalents in the statement of financial position comprise cash at bank and in hand held on demand. Bank overdrafts are shown within creditors due within one year. Trade debtors and creditors are measured at the undiscounted amounts receivable from the customer or payable to a supplier, which is normally the invoiced price. Trade debtors are assessed at the end of each reporting period for the objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of income and retained earnings. Loans received from a bank at the market rate of interest are recognised at the amount of cash received from the bank, less separately incurred transition costs. Directors' loans to the company which are repayable on demand are measured at the undiscounted amount of the cash expected to be paid.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2024: 10 ).

5. Tangible assets

	Investment Property	Long leasehold property	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Nov 2024	300,000	248,037	233,522	103,018	9,513	894,090
Additions	–	1,100	8,249	24,495	2,925	36,769
	---------	---------	---------	---------	--------	---------
At 31 Oct 2025	300,000	249,137	241,771	127,513	12,438	930,859
	---------	---------	---------	---------	--------	---------
Depreciation
At 1 Nov 2024	–	29,425	195,424	64,906	7,493	297,248
Charge for the year	–	4,983	9,268	15,651	991	30,893
	---------	---------	---------	---------	--------	---------
At 31 Oct 2025	–	34,408	204,692	80,557	8,484	328,141
	---------	---------	---------	---------	--------	---------
Carrying amount
At 31 Oct 2025	300,000	214,729	37,079	46,956	3,954	602,718
	---------	---------	---------	---------	--------	---------
At 31 Oct 2024	300,000	218,612	38,098	38,112	2,020	596,842
	---------	---------	---------	---------	--------	---------

The investment property is held at its fair value. The investment property was independently valued on 30th August 2023 by Allied Surveyors, Scotland Plc. Allied Surveyors are Chartered Surveyors regulated by The Royal Institution of Chartered Surveyors (RICS). The fair value of the Investment Property is £300,000.

6. Debtors

	2025	2024
	£	£
Trade debtors	60,182	41,101
Other debtors	35,008	53,724
	--------	--------
	95,190	94,825
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	2,492	3,928
Trade creditors	213,590	208,099
Corporation tax	41,777	58,931
Social security and other taxes	9,423	36,736
Other creditors	345,592	294,431
	---------	---------
	612,874	602,125
	---------	---------

Obligations under hire purchase and finance leases of £6,243 (2024 - £3,268) included within other creditors are secured on the assets concerned.

The bank hold a floating charge over the property and undertakings of the company.

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	–	2,591
Other creditors	30,396	21,759
	--------	--------
	30,396	24,350
	--------	--------

Obligations under hire purchase and finance leases of £30,396 (2024 - £21,759) included within other creditors are secured on the assets concerned.

The bank hold a floating charge over the property and undertakings of the company.

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	14,643	12,000
Later than 1 year and not later than 5 years	58,572	48,000
Later than 5 years	842,198	805,200
	---------	---------
	915,413	865,200
	---------	---------

10. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr R Stewart	43,910	155,172	( 182,180)	16,902
	--------	---------	---------	--------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr R Stewart	26,333	127,311	( 109,734)	43,910
	--------	---------	---------	--------

The directors loan account has no set repayment terms. Interest is being charged on the loan.