Outdoor Kitchens & Design Ltd - Period Ending 2021-09-30

Outdoor Kitchens & Design Ltd

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 5

Outdoor Kitchens & Design Ltd

(Registration number: 08053090)
Balance Sheet as at 30 September 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	4	15,454	15,254
Current assets
Stocks		7,180	8,832
Debtors	5	877	532
Cash at bank and in hand		22,622	12,701
		30,679	22,065
Creditors: Amounts falling due within one year	6	(106,633)	(126,416)
Net current liabilities		(75,954)	(104,351)
Net liabilities		(60,500)	(89,097)
Capital and reserves
Called up share capital		2	2
Profit and loss account		(60,502)	(89,099)
Shareholders' deficit		(60,500)	(89,097)

For the financial year ending 30 September 2021 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 16 February 2022 and signed on its behalf by:
 

......................................... M Warriner Director

Outdoor Kitchens & Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existance in the foreseeable future. The company has sufficient financial support from the directors and as a consequence they believe that the company is well placed to manage its business risks successfully. They therefore continues to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of outdoor kitchen facilities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and and machinery	25% per annum of net book value
Property improvements	20% per annum of net book value
Office equipment	20% per annum of net book value
Motor vehicles	20% per annum of net book value

Outdoor Kitchens & Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 2).

Outdoor Kitchens & Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

5

Debtors

	2021 £	2020 £
Trade debtors	38	100
Prepayments	-	432
Other debtors	839	-
	877	532

6

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Trade creditors	7,202	8,243
Taxation and social security	-	3,398
Other creditors	99,431	114,775
	106,633	126,416

7	Related party transactions

Other transactions with directors

M Warriner, director, had a loan with the company. At the balance sheet date the amount owed to M Warriner
was £93,172 (2019 : £66,928).

Summary of transactions with other related parties

Outdoor Kitchens & Design Limited had an inter-company loan with Warriner Builders Limited. Both companies share the same board of directors. During the year, Warriner Builders Limited ceased to trade and the balance of £26,336 was written off to the director loan account held by M Warriner.