| KITCHEN REVOLUTIONS LTD |
| Notes to the Accounts |
| for the year ended 31 August 2020 |
|
|
| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Motor vehicles |
18% reducing balance |
|
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| 2 |
Employees |
2020 |
|
2019 |
| Number |
Number |
|
|
Average number of persons employed by the company |
7 |
|
7 |
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| 3 |
Tangible fixed assets |
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Motor vehicles |
| £ |
|
Cost |
|
At 1 September 2019 |
16,298 |
|
At 31 August 2020 |
16,298 |
|
|
|
|
|
|
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|
|
|
Depreciation |
|
At 1 September 2019 |
9,800 |
|
Charge for the year |
1,170 |
|
At 31 August 2020 |
10,970 |
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Net book value |
|
At 31 August 2020 |
5,328 |
|
At 31 August 2019 |
6,498 |
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| 4 |
Creditors: amounts falling due within one year |
2020 |
|
2019 |
| £ |
£ |
|
|
Director current account |
144,811 |
|
40,386 |
|
Taxation and social security costs |
36,892 |
|
18,744 |
|
|
|
|
|
|
181,703 |
|
59,130 |
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| 5 |
Other information |
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KITCHEN REVOLUTIONS LTD is a private company limited by shares and incorporated in England. Its registered office is: |
