A + H Kitchens Limited - Filleted accounts

Registered number

03405493

A + H Kitchens Limited

Report and Unaudited Accounts

31 July 2017

Collins

Chartered Accountants

West Midlands

A + H Kitchens Limited
Registered number:		03405493
Balance Sheet
as at 31 July 2017


Notes		2017		2016
		£	£	£	£
Fixed assets
Tangible assets	3		242,399		215,609

Current assets
Stocks		101,423		78,950
Debtors	4	305,948		291,591
Cash at bank and in hand		86,572		115,382
		493,943		485,923

Creditors: amounts falling due within one year	5	(445,650)		(408,271)

Net current assets			48,293		77,652

Total assets less current liabilities			290,692		293,261

Creditors: amounts falling due after more than one year	6		(77,332)		(88,221)

Provisions for liabilities			(41,562)		(33,270)

Net assets			171,798		171,770

Capital and reserves
Called up share capital			60		60
Profit and loss account			171,738		171,710

Shareholders' funds			171,798		171,770

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



H Kavanagh
Director
Approved by the board on 14 December 2017

A + H Kitchens Limited
Notes to the Accounts
for the year ended 31 July 2017


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102 (as applicable to small companies), The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the sale of goods, this is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	over 5 years
	Motor vehicles	over 4 years
	Fixtures, fittings, tools and equipment	over 3 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.


2	Employees			2017		2016
Number					Number

	Average number of persons employed by the company			34		30


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 August 2016	553,826		42,347		596,173
	Additions	127,920		12,000		139,920
	Disposals	(63,900)		-		(63,900)
	At 31 July 2017	617,846		54,347		672,193

	Depreciation
	At 1 August 2016	365,085		15,479		380,564
	Charge for the year	61,777		13,586		75,363
	On disposals	(26,133)		-		(26,133)
	At 31 July 2017	400,729		29,065		429,794

	Net book value
	At 31 July 2017	217,117		25,282		242,399
	At 31 July 2016	188,741		26,868		215,609



4	Debtors			2017		2016
£					£

	Trade debtors			293,843		273,487
	Prepayments and accrued income			8,275		16,654
	Other debtors			3,830		1,450
				305,948		291,591


5	Creditors: amounts falling due within one year			2017		2016
£					£

	Obligations under finance lease and hire purchase contracts			58,029		36,470
	Trade creditors			153,594		145,902
	Corporation tax			43,865		41,360
	Other taxes and social security costs			82,138		72,867
	Directors loans			3,603		2,586
	Accruals and deferred income			104,421		109,086
				445,650		408,271


6	Creditors: amounts falling due after one year			2017		2016
£					£

	Obligations under finance lease and hire purchase contracts			77,332		88,221


7	Pension commitments

	The company operates an auto enrolement pension in respect of it's employees. Contributions in the year amounted to £2218.


8	Other financial commitments			2017		2016
£					£

	Total future minimum payments under non-cancellable operating leases			28,500		28,500


9	Other information

	A + H Kitchens Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Ferrofort Works
	6-18 Arthur Road
	Hay Mills
	Birmingham
	B25 8HA