Kitchen Workshop Limited - Accounts to registrar (filleted) - small 22.3

Kitchen Workshop Limited - Accounts to registrar (filleted) - small 22.3

KITCHEN WORKSHOP LIMITED - Company Information

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REGISTERED NUMBER: 07350054 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

KITCHEN WORKSHOP LIMITED
KITCHEN WORKSHOP LIMITED (REGISTERED NUMBER: 07350054)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


KITCHEN WORKSHOP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTOR: Mr D Hunt





REGISTERED OFFICE: Long Lane
Newport
Isle of Wight
PO30 2NW





REGISTERED NUMBER: 07350054 (England and Wales)





ACCOUNTANTS: Garbetts (IOW) Limited
Exchange House
St Cross Lane
Newport
Isle of Wight
PO30 5BZ
Page 1
KITCHEN WORKSHOP LIMITED (REGISTERED NUMBER: 07350054)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 53,463 34,123
53,463 34,123

CURRENT ASSETS
Stocks 40,710 38,616
Debtors 6 118,907 1,065
Cash at bank 211,492 190,122
371,109 229,803
CREDITORS
Amounts falling due within one year 7 208,436 118,557
NET CURRENT ASSETS 162,673 111,246
TOTAL ASSETS LESS CURRENT LIABILITIES 216,136 145,369

PROVISIONS FOR LIABILITIES 13,366 6,483
NET ASSETS 202,770 138,886

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 202,670 138,786
SHAREHOLDERS' FUNDS 202,770 138,886

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The notes form part of these financial statements

Page 2 continued...
KITCHEN WORKSHOP LIMITED (REGISTERED NUMBER: 07350054)

BALANCE SHEET - continued
31 MARCH 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 December 2022 and were signed by:





Mr D Hunt - Director


The notes form part of these financial statements

Page 3
KITCHEN WORKSHOP LIMITED (REGISTERED NUMBER: 07350054)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

Kitchen Workshop Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


Page 4 continued...
KITCHEN WORKSHOP LIMITED (REGISTERED NUMBER: 07350054)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2021 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2021
and 31 March 2022 1,580
AMORTISATION
At 1 April 2021
and 31 March 2022 1,580
NET BOOK VALUE
At 31 March 2022 -
At 31 March 2021 -

Page 5 continued...
KITCHEN WORKSHOP LIMITED (REGISTERED NUMBER: 07350054)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2021 91,459
Additions 37,491
Disposals (1,850 )
At 31 March 2022 127,100
DEPRECIATION
At 1 April 2021 57,336
Charge for year 17,822
Eliminated on disposal (1,521 )
At 31 March 2022 73,637
NET BOOK VALUE
At 31 March 2022 53,463
At 31 March 2021 34,123

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 25,311 -
Other debtors 93,596 1,065
118,907 1,065

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Payments on account 108,017 28,124
Trade creditors 1,531 5,916
Taxation and social security 31,400 27,943
Other creditors 67,488 56,574
208,436 118,557

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr D Hunt.

Page 6