Kerr & Co Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10446955 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

KERR & CO LIMITED

TRADING AS

JOHN KERR - CHARTERED ACCOUNTANTS

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

447,675

504,825

Tangible assets

5

17,808

17,700

465,483

522,525

CURRENT ASSETS

Debtors

6

345,811

335,575

Cash at bank and in hand

96,216

26,137

442,027

361,712

CREDITORS

Amounts falling due within one year

7

804,027

680,774

NET CURRENT LIABILITIES

(362,000

)

(319,062

)

TOTAL ASSETS LESS CURRENT LIABILITIES

103,483

203,463

CREDITORS

Amounts falling due after more than one year

8

(100,000

)

(200,000

)

PROVISIONS FOR LIABILITIES

(3,383

)

(3,363

)

NET ASSETS

100

100

CAPITAL AND RESERVES

Called up share capital

100

100

100

100

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 23 December 2019 and were signed on its behalf by:

D S Glover - Director

1.	STATUTORY INFORMATION

Kerr & Co Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address are as below:

Registered number:

10446955

Registered office:

375 Eaton Road

West Derby

Liverpool

L12 2AH

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

All of our revenue steams involve the rendering of services. Turnover is only recognised once the outcome of

these transactions can be estimated reliably. Turnover represents amounts chargeable to clients, including

expenses and disbursements, but excluding value added tax. Turnover not invoiced to clients at the accounting

date is included in amounts recoverable on contracts within debtors.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Furniture & equipment

-

10% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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.

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

The company operates defined contribution pension schemes. Contributions payable to the company's pension

schemes 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 15 (2018 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

571,500

AMORTISATION

At 1 April 2018

66,675

Charge for year

57,150

At 31 March 2019

123,825

NET BOOK VALUE

At 31 March 2019

447,675

At 31 March 2018

504,825

5.	TANGIBLE FIXED ASSETS

Furniture

& equipment

£

COST

At 1 April 2018

19,766

Additions

2,175

At 31 March 2019

21,941

DEPRECIATION

At 1 April 2018

2,066

Charge for year

2,067

At 31 March 2019

4,133

NET BOOK VALUE

At 31 March 2019

17,808

At 31 March 2018

17,700

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

194,961

192,340

Amounts recoverable on

contracts

107,448

110,423

Other debtors

43,402

32,812

345,811

335,575

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

22,701

27,715

Amounts owed to group undertakings

610,736

478,586

Taxation and social security

55,060

56,941

Other creditors

115,530

117,532

804,027

680,774

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Other creditors

100,000

200,000

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.19

31.3.18

£

£

Within one year

15,000

15,000

Between one and five years

60,000

60,000

In more than five years

41,250

56,250

116,250

131,250

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

£

£

Deferred consideration payable

200,000

300,000

The deferred consideration payable is secured by a floating charge over the company's book debts.

11.	PARENT UNDERTAKING