James W. Kerr Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC029941 (Scotland)

Financial Statements for the Year Ended 31 May 2021

for

James W. Kerr Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs. G F Kerr

T W Kerr

M Kerr

SECRETARY:

Mrs. G F Kerr

REGISTERED OFFICE:

237 Morningside Road

Edinburgh

EH10 4QU

REGISTERED NUMBER:

SC029941 (Scotland)

ACCOUNTANTS:

Neil Nisbet & Co.

2nd Floor

Thain House

226 Queensferry Road

Edinburgh

EH4 2BP

FIXED ASSETS

Tangible assets

4

27,174

28,225

Investments

5

1

1

27,175

28,226

CURRENT ASSETS

Debtors

6

97,048

41,746

Cash at bank

6

22

97,054

41,768

CREDITORS

Amounts falling due within one year

7

31,269

19,866

NET CURRENT ASSETS

65,785

21,902

TOTAL ASSETS LESS CURRENT LIABILITIES

92,960

50,128

CREDITORS

Amounts falling due after more than one year

8

20,000

25,000

NET ASSETS

72,960

25,128

CAPITAL AND RESERVES

Called up share capital

25,000

25,000

Retained earnings

47,960

128

SHAREHOLDERS' FUNDS

72,960

25,128

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 May 2022 and were signed on its behalf by:

Mrs. G F Kerr - Director

1.	STATUTORY INFORMATION

James W. Kerr Limited is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets

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

Land and buildings

-

2% on cost

Plant and machinery etc

-

5% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 June 2020

and 31 May 2021

49,236

11,180

60,416

DEPRECIATION

At 1 June 2020

22,930

9,261

32,191

Charge for year

492

559

1,051

At 31 May 2021

23,422

9,820

33,242

NET BOOK VALUE

At 31 May 2021

25,814

1,360

27,174

At 31 May 2020

26,306

1,919

28,225

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 June 2020

and 31 May 2021

1

NET BOOK VALUE

At 31 May 2021

1

At 31 May 2020

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Other debtors

97,048

41,746

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Bank loans and overdrafts

5,000

-

Taxation and social security

15,658

10,056

Other creditors

10,611

9,810

31,269

19,866

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.21

31.5.20

£

£

Bank loans

20,000

25,000

31.5.21

31.5.20

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

5,000