Company No:
Contents
DIRECTOR | Ms D Griffin |
REGISTERED OFFICE | Ground Floor Blackbrook Gate 1 |
Blackbrook Business Park | |
Taunton | |
TA1 2PX | |
United Kingdom |
COMPANY NUMBER | 12828184 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Blackbrook Gate 1 | |
Blackbrook Business Park | |
Taunton | |
Somerset TA1 2PX |
Note | 30.09.2022 | 30.09.2021 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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13,461 | 14,841 | |||
Current assets | ||||
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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71,764 | 51,977 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 21,470 | 20,890 | ||
Total assets less current liabilities | 34,931 | 35,731 | ||
Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholder's funds |
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Director's responsibilities:
The financial statements of Kitchen @ Quantock Lakes Limited (registered number:
Ms D Griffin
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Kitchen @ Quantock Lakes Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
In light of the current economic situation, both in the UK and globally, impacted by rising energy costs, inflation and general cost of living increases, the director has given consideration to the impact of these issues on the operations and financial position of the company, as well as upon customers and suppliers. The director is satisfied that, having considered no less than 12 months from the date of approval of the financial statements, the issues identified do not present a significant risk to the going concern basis of the company and, therefore, that the going concern basis of preparation remains appropriate.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Vehicles |
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Tools and equipment |
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Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
Year ended 30.09.2022 |
Period from 21.08.2020 to 30.09.2021 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Vehicles | Tools and equipment | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 October 2021 |
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Additions |
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At 30 September 2022 |
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Accumulated depreciation | |||||
At 01 October 2021 |
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Charge for the financial year |
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At 30 September 2022 |
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Net book value | |||||
At 30 September 2022 |
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At 30 September 2021 |
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30.09.2022 | 30.09.2021 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by director |
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Prepayments |
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Other debtors |
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30.09.2022 | 30.09.2021 | ||
£ | £ | ||
Trade creditors |
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Accruals |
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Corporation tax |
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Other taxation and social security |
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Other creditors |
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Transactions with the entity's director
30.09.2022 | 30.09.2021 | ||
£ | £ | ||
Director | 1,610 | 0 |
During the year, advances totalling £3,610 were made to the director, of which £2,000 was repaid during the year. As at 30 September 2022 the amount owed to the company was £1,610.
Allotted, called-up and fully-paid
30.09.2022 | 30.09.2021 | ||
£ | £ | ||
10 ordinary shares of £1.00 each | 10 | 10 |