Ashford Kitchens and Interiors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06404041 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

ASHFORD KITCHENS AND INTERIORS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R H Flower

Mrs T Flower

S Flower

Mrs G J Flower

G E F Fox

SECRETARY:

Mrs T Flower

REGISTERED OFFICE:

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

REGISTERED NUMBER:

06404041 (England and Wales)

ACCOUNTANTS:

Oury Clark Chartered Accountants

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

FIXED ASSETS

Intangible assets

4

110,833

128,333

Tangible assets

5

1,403,924

100,997

Investment property

6

339,801

339,801

1,854,558

569,131

CURRENT ASSETS

Stocks

48,773

43,010

Debtors

7

1,917,816

1,449,588

Cash at bank and in hand

547,564

909,155

2,514,153

2,401,753

CREDITORS

Amounts falling due within one year

8

2,464,942

2,234,090

NET CURRENT ASSETS

49,211

167,663

TOTAL ASSETS LESS CURRENT LIABILITIES

1,903,769

736,794

CREDITORS

Amounts falling due after more than one year

9

484,399

-

NET ASSETS

1,419,370

736,794

CAPITAL AND RESERVES

Called up share capital

10

104

104

Share premium

17,996

17,996

Retained earnings

1,401,270

718,694

SHAREHOLDERS' FUNDS

1,419,370

736,794

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

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 and authorised for issue on 11 May 2022 and were signed on its behalf by:

R H Flower - Director

1.	STATUTORY INFORMATION

Ashford Kitchens and Interiors 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.

The company trades from two locations:

85 Church Road, Ashford, Middlesex TW15 2PE

1-2 The Parade, The Broadway, Farnham Common, SL2 3QJ

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.

Deposits, which are non-refundable, are taken to sales when received. Payments in advance of installation are deferred until the installation is completed.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

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 etc

-

20% on cost and 15% on reducing balance

Government grants

Receipts under the Coronavirus Job Retention Scheme are recognised in the same period in which the relevant wage expenses are recognised.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic Financial Instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS102.

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2020 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2021

and 31 December 2021

349,999

AMORTISATION

At 1 January 2021

221,666

Charge for year

17,500

At 31 December 2021

239,166

NET BOOK VALUE

At 31 December 2021

110,833

At 31 December 2020

128,333

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2021

15,500

152,987

168,487

Additions

1,328,250

-

1,328,250

At 31 December 2021

1,343,750

152,987

1,496,737

DEPRECIATION

At 1 January 2021

-

67,490

67,490

Charge for year

-

25,323

25,323

At 31 December 2021

-

92,813

92,813

NET BOOK VALUE

At 31 December 2021

1,343,750

60,174

1,403,924

At 31 December 2020

15,500

85,497

100,997

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2021

and 31 December 2021

339,801

NET BOOK VALUE

At 31 December 2021

339,801

At 31 December 2020

339,801

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

1,889,433

1,322,088

Other debtors

28,383

127,500

1,917,816

1,449,588

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans and overdrafts

39,241

49,000

Trade creditors

236,289

345,614

Taxation and social security

393,166

286,311

Other creditors & accruals

1,796,246

1,553,165

2,464,942

2,234,090

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans

484,399

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

31.12.20

value:

£

£

100

Ordinary A Shares

£1

100

100

2

Ordinary B Shares

£1

2

2

2

Ordinary C Shares

£1

2

2

104

104