J Kelly Plant Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09141468 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

J KELLY PLANT SERVICES LTD

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Paul Edward Kelly

Mr John James Kelly

REGISTERED OFFICE:

C/O Michael Filiou Ltd

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

REGISTERED NUMBER:

09141468 (England and Wales)

ACCOUNTANTS:

Michael Filiou Ltd

Chartered Certified Accountants

www.michaelfiliou.com

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

FIXED ASSETS

Tangible assets

4

226,141

180,716

CURRENT ASSETS

Debtors

133,856

104,708

Cash at bank and in hand

51,565

2,487

185,421

107,195

CREDITORS

Amounts falling due within one year

134,434

114,152

NET CURRENT ASSETS/(LIABILITIES)

50,987

(6,957

)

TOTAL ASSETS LESS CURRENT LIABILITIES

277,128

173,759

CREDITORS

Amounts falling due after more than one year

(92,297

)

(53,504

)

PROVISIONS FOR LIABILITIES

(42,967

)

(33,969

)

NET ASSETS

141,864

86,286

CAPITAL AND RESERVES

Called up share capital

5

40,000

40,000

Retained earnings

101,864

46,286

SHAREHOLDERS' FUNDS

141,864

86,286

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2020 and were signed on its behalf by:

Mr John James Kelly - Director

Mr Paul Edward Kelly - Director

1.	STATUTORY INFORMATION

J Kelly Plant Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The accounts have been prepared on a going concern basis.

The directors are aware however of material uncertainties that cast doubt on the company's ability to continue as a going concern. As with most businesses, these material uncertainties are in relation to the ongoing Covid-19 virus outbreak which has had an impact on the operations, customers, suppliers and staff. The directors have (where appropriate) utilised the grants and benefits available from the government and are taking all the steps they can to protect the future of the business.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% straight line

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

15% straight line

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme 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 4 (2019 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2019

304,779

Additions

134,917

Disposals

(111,187

)

At 31 March 2020

328,509

DEPRECIATION

At 1 April 2019

124,063

Charge for year

47,249

Eliminated on disposal

(68,944

)

At 31 March 2020

102,368

NET BOOK VALUE

At 31 March 2020

226,141

At 31 March 2019

180,716

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 April 2019

231,495

Additions

122,417

Disposals

(62,187

)

At 31 March 2020

291,725

DEPRECIATION

At 1 April 2019

77,494

Charge for year

43,697

Eliminated on disposal

(30,050

)

At 31 March 2020

91,141

NET BOOK VALUE

At 31 March 2020

200,584

At 31 March 2019

154,001

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

40,000

Ordinary

£1

40,000

40,000

6.	RELATED PARTY DISCLOSURES

At the balance sheet date the amount owed to the directors was £225 (2019 £2,440). This loan is interest free and repayable within one year.

7.	ULTIMATE CONTROLLING PARTY

Mr John James Kelly and Mr Paul Edward Kelly are considered to be the controlling parties. They each hold 50% of the issued share capital.