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J W KELLY LIMITED - Company Information

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J W Kelly Limited

Registered Number:02938430

For the year ended 31 October 2019

England and Wales

Unaudited Financial Statements

For the year ended 31 October 2019

J W Kelly Limited

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

As at 31 October 2019

J W Kelly Limited

Statement of Financial Position

Registered Number :

02938430

2018

2019

Notes

Fixed assets

Property, plant and equipment

158,461

161,427

158,461

161,427

Current assets

Trade and other receivables

196,899

159,708

64,577

Cash and cash equivalents

102,198

261,906

261,476

Trade and other payables: amounts falling due within one

year

(81,952)

(77,790)

179,524

184,116

Net current assets

Total assets less current liabilities

342,577

340,951

342,577

Net assets

340,951

Capital and reserves

Called up share capital

100

Retained earnings

342,477

340,851

342,577

340,951

Shareholders' funds

For the year ended 31 October 2019 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Mr John Kelly Director

These financial statements were approved and authorised for issue by the Board on 31 December 2019 and were signed by:

The notes form part of these financial statements

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For the year ended 31 October 2019

J W Kelly Limited

Notes to the Financial Statements

Statutory Information

J W Kelly Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number

02938430.

Registered address:

21 New Road

Seven Kings

Ilford

Essex

IG3 8AU

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the

Companies Act 2006. The financial statements have been prepared under the historical costs convention as

modified by the revaluation of certain assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and machinery

25% Reducing balance

Computer equipment

25% Reducing balance

Motor vehicles

No depreciation is provided on the company''s freehold properties since in the opinion of the directors the expected

useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation

would be immaterial. The directors undertake an annual impairment review of these properties.

Inventories

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Debtors include amounts recoverable on long term contracts which are stated at the net sales value of the work done after provision for contingencies and any anticipated future losses on contracts, less amounts received as progress payments on account. Any excess progress payments are included in creditors as payments on account.

Hire purchase and leasing commitments

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

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For the year ended 31 October 2019

J W Kelly Limited

Notes to the Financial Statements Continued

2. Property, plant and equipment

Total

Computer

equipment

Motor vehicles

Plant and

machinery

Land and

buildings

Cost or

valuation

At 01 November 2018

170,045

2,806

7,000

18,683

141,556

2,669

669

2,000

Additions

At 31 October 2019

18,683

9,000

3,475

172,714

141,556

Provision for depreciation and impairment

At 01 November 2018

8,618

1,041

6,299

1,278

Charge for year

5,635

609

675

4,351

At 31 October 2019

14,253

1,650

6,974

5,629

At 31 October 2019

Net book value

141,556

13,054

2,026

1,825

158,461

At 31 October 2018

141,556

17,405

701

1,765

161,427

3. Trade and other receivables

2018

2019

Trade debtors

71,385

36,112

Other debtors

88,323

160,787

196,899

159,708

4. Trade and other payables: amounts falling due within one year

2018

2019

Trade creditors

37,534

62,455

Taxation and social security

36,151

15,019

Other creditors

4,105

4,478

77,790

81,952

5. Average number of persons employed

During the year the average number of employees was 0

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