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Unaudited Financial Statements |
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for the Year Ended 31st March 2021 |
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Kitchen Crafts And Furniture LLP |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31st March 2021 |
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for |
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Kitchen Crafts And Furniture LLP |
Kitchen Crafts And Furniture LLP (Registered number: OC384953) |
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Contents of the Financial Statements |
for the Year Ended 31st March 2021 |
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Page |
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General Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Kitchen Crafts And Furniture LLP |
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General Information |
for the Year Ended 31st March 2021 |
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DESIGNATED MEMBERS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Bank House |
Market Square |
Congleton |
Cheshire |
CW12 1ET |
Kitchen Crafts And Furniture LLP (Registered number: OC384953) |
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Abridged Balance Sheet |
31st March 2021 |
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31/3/21 | 31/3/20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET LIABILITIES ATTRIBUTABLE TO
MEMBERS |
(13,341 |
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(14,135 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
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MEMBERS' OTHER INTERESTS |
Capital accounts | (13,341 | ) | (14,135 | ) |
(13,341 | ) | (14,135 | ) |
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TOTAL MEMBERS' INTERESTS |
Members' other interests | (13,341 | ) | (14,135 | ) |
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The members acknowledge their responsibilities for: |
(a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
Kitchen Crafts And Furniture LLP (Registered number: OC384953) |
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Abridged Balance Sheet - continued |
31st March 2021 |
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In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the members of the LLP and authorised for issue on
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Kitchen Crafts And Furniture LLP (Registered number: OC384953) |
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Notes to the Financial Statements |
for the Year Ended 31st March 2021 |
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1. | STATUTORY INFORMATION |
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Kitchen Crafts And Furniture LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going Concern |
The directors have considered the potential impact of COVID-19 on the principal activities of the business and they believe that they have sufficient resources in place to operate for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. |
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Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Financial instruments |
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors and other loans. |
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Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
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Trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
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Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and Retained Earnings. |
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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. |
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Pension costs and other post-retirement benefits |
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate. |
Kitchen Crafts And Furniture LLP (Registered number: OC384953) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st March 2021 |
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3. | EMPLOYEE INFORMATION |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1st April 2020 |
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Additions |
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Disposals | ( |
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At 31st March 2021 |
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DEPRECIATION |
At 1st April 2020 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31st March 2021 |
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NET BOOK VALUE |
At 31st March 2021 |
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At 31st March 2020 |
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5. | COVID-19 TRANSACTIONS |
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During the year, the UK continued to be impacted by the outbreak of COVID-19. In order to manage the spread of the virus the Government has imposed significant restrictions on the movement of people and the ability of businesses to continue to trade. The Directors acknowledge the increasing risk from COVID-19 and have sought to mitigate their risk by carrying out a thorough review of the business as discussed below: |
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Government assistance |
The business has taken advantage of the government grants and furloughing scheme whereby the company has furloughed a number of staff members which has resulted in the reduction of the wage cost. |