David Reid Kitchens Limited - Accounts to registrar (filleted) - small 18.2
David Reid Kitchens Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| David Reid Kitchens Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 October 2019 |
| David Reid Kitchens Limited (Registered number: NI035044) |
| Contents of the Financial Statements |
| for the Year Ended 31 October 2019 |
| Page |
| Company information | 1 |
| Statement of financial position | 2 |
| Notes to the financial statements | 3 | to | 6 |
| David Reid Kitchens Limited |
| Company Information |
| for the Year Ended 31 October 2019 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| Chartered Accountants |
| Armagh Business Centre |
| 2 Loughgall Road |
| Armagh |
| BT61 7NH |
| Solicitors: |
| 19 Windsor Avenue |
| Lurgan |
| Co Armagh |
| BT67 9BG |
| David Reid Kitchens Limited (Registered number: NI035044) |
| Statement of Financial Position |
| 31 October 2019 |
| 2019 | 2018 |
| Notes | £ | £ |
| Fixed assets |
| Intangible assets | 4 |
| Property, plant and equipment | 5 |
| Current assets |
| Inventories | 6 |
| Receivables | 7 |
| Cash at bank | 8 |
| Payables |
| Amounts falling due within one year | 9 | ( |
) | ( |
) |
| Net current assets |
| Total assets less current liabilities |
| Provisions for liabilities | 10 | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital | 11 |
| Retained earnings |
| Shareholders' funds |
| 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. |
| 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 on |
| David Reid Kitchens Limited (Registered number: NI035044) |
| Notes to the Financial Statements |
| for the Year Ended 31 October 2019 |
| 1. | Statutory information |
| David Reid Kitchens Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Revenue |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less |
| any accumulated amortisation and any accumulated impairment losses. |
| Property, plant and equipment |
| Land and buildings freehold | - |
| Plant and machinery | - |
| Fixtures, fittings and equipment | - |
| Motor vehicles | - |
| The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or |
| changes in circumstances indicate the carrying value may not be recoverable. |
| Inventories |
| Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| 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 Statement of Financial Position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Statement |
| of Financial Position 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. |
| David Reid Kitchens Limited (Registered number: NI035044) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2019 |
| 2. | Accounting policies - continued |
| 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. |
| Receivables |
| Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured |
| initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective |
| interest method, less any impairment. |
| Cash and cash equivalents |
| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of |
| not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months |
| from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of |
| change in value. |
| Payables |
| Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are |
| measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the |
| effective interest method. |
| Dividends |
| Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when |
| paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. |
| Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable. |
| Provisions for liabilities |
| Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that |
| probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of |
| the obligation. Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year |
| that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of |
| Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and |
| uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of |
| Financial Position. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Intangible fixed assets |
| Goodwill |
| £ |
| Cost |
| At 1 November 2018 |
| and 31 October 2019 |
| Amortisation |
| At 1 November 2018 |
| Charge for year |
| At 31 October 2019 |
| Net book value |
| At 31 October 2019 |
| At 31 October 2018 |
| David Reid Kitchens Limited (Registered number: NI035044) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2019 |
| 5. | Property, plant and equipment |
| Fixtures, |
| Land and | fittings |
| buildings | Plant and | and | Motor |
| freehold | machinery | equipment | vehicles | Totals |
| £ | £ | £ | £ | £ |
| Cost |
| At 1 November 2018 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 October 2019 |
| Depreciation |
| At 1 November 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 October 2019 |
| Net book value |
| At 31 October 2019 |
| At 31 October 2018 |
| 6. | Inventories |
| 2019 | 2018 |
| £ | £ |
| Work in progress |
| The replacement cost of inventory did not differ significantly from the figures shown. |
| 7. | Receivables: amounts falling due within one year |
| 2019 | 2018 |
| £ | £ |
| Trade receivables |
| Other receivables |
| 8. | Cash at bank |
| 2019 | 2018 |
| £ | £ |
| Cash at bank and in hand | 805,517 | 876,612 |
| 9. | Payables: amounts falling due within one year |
| 2019 | 2018 |
| £ | £ |
| Trade payables |
| Taxation and social security |
| Other payables |
| David Reid Kitchens Limited (Registered number: NI035044) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2019 |
| 10. | Provisions for liabilities |
| 2019 | 2018 |
| £ | £ |
| Deferred tax | 27,231 | 16,394 |
| Deferred tax |
| £ |
| Balance at 1 November 2018 |
| Charge to Income statement during year |
| Balance at 31 October 2019 |
| 11. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary shares | 1 | 100 | 100 |
| 12. | Pension commitments |
| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from |
| those of the company in an independently administered fund. Pension costs amounted to £5,703 (2018 - £3,631). |
| 13. | Directors' advances, credits and guarantees |
| The following advances and credits to directors subsisted during the years ended 31 October 2019 and |
| 31 October 2018: |
| 2019 | 2018 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |