Kellys News (Ansdell) Limited - Accounts to registrar (filleted) - small 18.2

KELLY'S NEWS (ANSDELL) LIMITED - Company Information

PTP Accounts Production v20.2.0.366 07189931 Board of Directors 1.3.19 29.2.20 29.2.20 false true false false false true false 47840 113949 29481 41293 65611 107402 11710 47840 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure071899312019-02-28071899312020-02-29071899312019-03-012020-02-29071899312018-02-28071899312018-03-012019-02-28071899312019-02-2807189931ns16:EnglandWales2019-03-012020-02-2907189931ns15:PoundSterling2019-03-012020-02-2907189931ns11:Director12019-03-012020-02-2907189931ns11:PrivateLimitedCompanyLtd2019-03-012020-02-2907189931ns11:SmallEntities2019-03-012020-02-2907189931ns11:AuditExempt-NoAccountantsReport2019-03-012020-02-2907189931ns11:SmallCompaniesRegimeForDirectorsReport2019-03-012020-02-2907189931ns11:SmallCompaniesRegimeForAccounts2019-03-012020-02-2907189931ns11:AbridgedAccounts2019-03-012020-02-290718993112019-03-012020-02-290718993142ns11:Director22019-02-280718993142ns11:Director22018-02-280718993142ns11:Director22019-03-012020-02-290718993142ns11:Director22018-03-012019-02-280718993142ns11:Director22020-02-290718993142ns11:Director22019-02-2807189931ns11:Director22019-03-012020-02-2907189931ns11:RegisteredOffice2019-03-012020-02-2907189931ns6:CurrentFinancialInstruments2020-02-2907189931ns6:CurrentFinancialInstruments2019-02-2807189931ns6:Non-currentFinancialInstruments2020-02-2907189931ns6:Non-currentFinancialInstruments2019-02-2807189931ns6:ShareCapital2020-02-2907189931ns6:ShareCapital2019-02-2807189931ns6:RetainedEarningsAccumulatedLosses2020-02-2907189931ns6:RetainedEarningsAccumulatedLosses2019-02-2807189931ns6:NetGoodwill2019-03-012020-02-2907189931ns6:IntangibleAssetsOtherThanGoodwill2019-03-012020-02-2907189931ns6:FurnitureFittings2019-03-012020-02-2907189931ns6:ComputerEquipment2019-03-012020-02-2907189931ns6:Secured2020-02-2907189931ns6:Secured2019-02-2807189931ns11:Director112019-02-2807189931ns11:Director112018-02-2807189931ns11:Director112019-03-012020-02-2907189931ns11:Director112018-03-012019-02-2807189931ns11:Director112020-02-2907189931ns11:Director112019-02-28

REGISTERED NUMBER: 07189931 (England and Wales)

Unaudited Financial Statements for the Year Ended 29 February 2020

for

Kellys News (Ansdell) Limited

Page

Company Information

Abridged Balance Sheet

Notes to the Financial Statements

DIRECTORS:

A Dempster

Miss L Kidson

REGISTERED OFFICE:

17-19 Park Street

Lytham St Annes

Lancashire

FY8 5LU

REGISTERED NUMBER:

07189931 (England and Wales)

ACCOUNTANTS:

Ashworth Treasure (BOC) Limited

17-19 Park Street

Lytham

Lancashire

FY8 5LU

BANKERS:

Royal Bank of Scotland plc

Talbot Square

Blackpool

Lancashire

FY1 1LE

FIXED ASSETS

Intangible assets

Tangible assets

1,774

2,287

1,774

2,287

CURRENT ASSETS

Stocks

25,000

20,000

Debtors

27,411

83,379

Cash in hand

801

668

53,212

104,047

CREDITORS

Amounts falling due within one year

54,110

77,927

NET CURRENT (LIABILITIES)/ASSETS

(898

)

26,120

TOTAL ASSETS LESS CURRENT
LIABILITIES

876

28,407

CREDITORS

Amounts falling due after more than one
year

(5,085

)

(13,490

)

PROVISIONS FOR LIABILITIES

(335

)

(435

)

NET (LIABILITIES)/ASSETS

(4,544

)

14,482

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(4,644

)

14,382

SHAREHOLDERS' FUNDS

(4,544

)

14,482

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 Balance Sheet for the year ended 29 February 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 15 February 2021 and
were signed on its behalf by:

A Dempster - Director

1.	STATUTORY INFORMATION

Kellys News (Ansdell) Limited 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.

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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of businesses in 2010 and 2012, is being

amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings

25% on reducing balance

Computer equipment

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

COST

At 1 March 2019

and 29 February 2020

137,985

AMORTISATION

At 1 March 2019

and 29 February 2020

137,985

NET BOOK VALUE

At 29 February 2020

At 28 February 2019

5.	TANGIBLE FIXED ASSETS

Totals

COST

At 1 March 2019

22,071

Additions

333

At 29 February 2020

22,404

DEPRECIATION

At 1 March 2019

19,784

Charge for year

846

At 29 February 2020

20,630

NET BOOK VALUE

At 29 February 2020

1,774

At 28 February 2019

2,287

6.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

Bank overdrafts

19,536

19,154

Bank loans

13,491

28,728

33,027

47,882

The company's bank borrowings are secured by way of a fixed and floating charge over the company's assets and

book debts.

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2020 and

28 February 2019:

2020

2019

A Dempster and Miss L Kidson

Balance outstanding at start of year

47,840

113,949

Amounts advanced

29,481

41,293

Amounts repaid

(65,611

)

(107,402

)

Amounts written off

Amounts waived

Balance outstanding at end of year

11,710

47,840

Interest at the official rate of interest of £751 (2019: £1,997) was charged on the overdrawn balance.

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £48,000 (2019 - £90,000) were paid to the directors .

Rent of £9,000 (2019: £9,000) was paid to the directors in respect of the business premises.

9.	ULTIMATE CONTROLLING PARTY

The company is under the control of the directors, who own 100% of the issued share capital.