Kitchen Specialists Limited - Accounts to registrar (filleted) - small 18.2

Kitchen Specialists Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 04952288










Unaudited Financial Statements

For The Year Ended 31 January 2019

for

Kitchen Specialists Limited

Kitchen Specialists Limited (Registered number: 04952288)






Contents of the Financial Statements
For The Year Ended 31 January 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Kitchen Specialists Limited

Company Information
For The Year Ended 31 January 2019







DIRECTORS: M Lord
S Lord





REGISTERED OFFICE: 424 Waterloo Road
Blackpool
FY4 4BL





REGISTERED NUMBER: 04952288





ACCOUNTANTS: Danbro Accounting Ltd
Black Diamond, Jubilee House
East Beach
Lytham St. Annes
Lancashire
FY8 5FT

Kitchen Specialists Limited (Registered number: 04952288)

Balance Sheet
31 January 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 63,115 79,059
63,115 79,059

CURRENT ASSETS
Stocks 6 75,000 150,000
Debtors 7 149,230 173,897
Cash at bank 269 34,097
224,499 357,994
CREDITORS
Amounts falling due within one year 8 196,662 370,651
NET CURRENT ASSETS/(LIABILITIES) 27,837 (12,657 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

90,952

66,402

CREDITORS
Amounts falling due after more than one
year

9

(46,077

)

(65,312

)

PROVISIONS FOR LIABILITIES 11 (11,495 ) (14,416 )
NET ASSETS/(LIABILITIES) 33,380 (13,326 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 12 33,280 (13,426 )
SHAREHOLDERS' FUNDS 33,380 (13,326 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 in accordance with Section 476 of the Companies Act 2006.

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.

Kitchen Specialists Limited (Registered number: 04952288)

Balance Sheet - continued
31 January 2019


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 Board of Directors on 16 October 2019 and were signed on its behalf by:




M Lord - Director



S Lord - Director


Kitchen Specialists Limited (Registered number: 04952288)

Notes to the Financial Statements
For The Year Ended 31 January 2019

1. STATUTORY INFORMATION

Kitchen Specialists Limited is a private company, limited by shares , registered in Not specified/Other. 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 represents net invoiced sales of goods and services, excluding value added tax, plus the value of
work-in-progress performed which remained uninvoiced at the balance sheet date, less the value of
work-in-progress brought forward from the previous year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has now been fully
amortised.

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.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Work in progress
Work in progress represents sales of services during the year but not yet invoiced.

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.

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.

Kitchen Specialists Limited (Registered number: 04952288)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2019

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases
are depreciated over the estimated useful lives or the lease terms, whichever is the shorter.

The interest element of these obligations is charged to the profit or loss over the relevant period. The capital
element of the future payments is treated as a liability.

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 13 (2018 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2018
and 31 January 2019 9,000
AMORTISATION
At 1 February 2018
and 31 January 2019 9,000
NET BOOK VALUE
At 31 January 2019 -
At 31 January 2018 -

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 February 2018 165,802 129,532 295,334
Additions 3,296 978 4,274
At 31 January 2019 169,098 130,510 299,608
DEPRECIATION
At 1 February 2018 140,853 75,422 216,275
Charge for year 6,500 13,718 20,218
At 31 January 2019 147,353 89,140 236,493
NET BOOK VALUE
At 31 January 2019 21,745 41,370 63,115
At 31 January 2018 24,949 54,110 79,059

Kitchen Specialists Limited (Registered number: 04952288)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2019

6. STOCKS
2019 2018
£    £   
Work-in-progress 75,000 150,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 79,438 74,221
Amounts owed by group undertakings - 3,663
Other debtors 6,130 11,247
Directors' current accounts 63,662 83,466
Prepayments - 1,300
149,230 173,897

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Bank loans and overdrafts 3,820 3,650
Hire purchase contracts 15,244 15,244
Trade creditors 61,301 114,580
Amounts owed to group undertakings 20,297 172
Tax 42,088 4,671
VAT 17,045 19,631
Other creditors 36,867 212,703
196,662 370,651

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2019 2018
£    £   
Bank loans - 1-2 years 3,820 3,650
Bank loans - 2-5 years 11,461 11,000
Bank loans more 5 yr by instal 18,440 23,062
Hire purchase contracts 12,356 27,600
46,077 65,312

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 18,440 23,062

Kitchen Specialists Limited (Registered number: 04952288)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2019

10. SECURED DEBTS

The following secured debts are included within creditors:

2019 2018
£    £   
Bank loans 37,541 41,362
Hire purchase contracts 27,600 42,844
65,141 84,206

11. PROVISIONS FOR LIABILITIES
2019 2018
£    £   
Deferred tax 11,495 14,416

Deferred
tax
£   
Balance at 1 February 2018 14,416
Provided during year (2,921 )
Balance at 31 January 2019 11,495

12. RESERVES
Retained
earnings
£   

At 1 February 2018 (13,426 )
Profit for the year 146,706
Dividends (100,000 )
At 31 January 2019 33,280

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2019 and
31 January 2018:

2019 2018
£    £   
S Lord
Balance outstanding at start of year 28,646 (2,645 )
Amounts advanced 31,961 39,438
Amounts repaid (48,280 ) (8,147 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,327 28,646

Kitchen Specialists Limited (Registered number: 04952288)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2019

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

M Lord
Balance outstanding at start of year 66,817 17,472
Amounts advanced 200,833 103,272
Amounts repaid (216,315 ) (53,927 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 51,335 66,817

14. RELATED PARTY DISCLOSURES

S Lord is also a director of Smaart Developments Limited and Smoove Property Limited.

During the year various monies have been loaned between the above companies and included within amounts
owed by/to group undetakings at 31 January 2019 is £5415 (2018:£2264) due to/from Smaart Developments
Limited and £14882 (2018:£172) due to Smoove Property Limited.

Included within rent is £22,200 (2018:£22,200) paid to M Lord and within turnover is a sale of £9,863
(2018:£8,333) to Smaart Developments Limited.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Kitchen Specialists Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the
Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of Kitchen Specialists Limited for the year ended 31 January 2019 which comprise the Income
Statement, Balance Sheet and the related notes from the company's accounting records and from information and
explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.

This report is made solely to the Board of Directors of Kitchen Specialists Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kitchen Specialists Limited and state those matters that we have agreed to state to the Board of Directors of Kitchen Specialists Limited, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Kitchen Specialists Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kitchen Specialists Limited. You consider that Kitchen Specialists Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kitchen Specialists Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Danbro Accounting Ltd
Black Diamond, Jubilee House
East Beach
Lytham St. Annes
Lancashire
FY8 5FT


Date: .............................................