Kelly's of Bodmin Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04569879 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Kelly's of Bodmin Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Kelly

SECRETARY:

T Kelly

REGISTERED OFFICE:

Unit 4 Bodmin Business Park

Launceston Road

Bodmin

Cornwall

PL31 2RJ

REGISTERED NUMBER:

04569879 (England and Wales)

FIXED ASSETS

Tangible assets

4

628,869

715,420

CURRENT ASSETS

Stocks

20,811

32,685

Debtors

96,323

50,077

Cash at bank and in hand

1,309,473

792,199

1,426,607

874,961

CREDITORS

Amounts falling due within one year

422,940

281,829

NET CURRENT ASSETS

1,003,667

593,132

TOTAL ASSETS LESS CURRENT LIABILITIES

1,632,536

1,308,552

PROVISIONS FOR LIABILITIES

101,583

115,333

NET ASSETS

1,530,953

1,193,219

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,530,951

1,193,217

SHAREHOLDERS' FUNDS

1,530,953

1,193,219

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement and an abridged Balance Sheet for the year ended 31 December 2021 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 director and authorised for issue on 21 September 2022 and were signed by:

P Kelly - Director

1.	STATUTORY INFORMATION

Kelly's of Bodmin 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.

Tangible fixed assets

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

Leasehold property

-

2% on cost and over the period of the lease

Plant and machinery

-

10% on cost

Motor vehicles

-

10% on cost

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 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.

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.

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 22 (2020 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2021

1,488,353

Additions

41,588

Disposals

(130,045

)

At 31 December 2021

1,399,896

DEPRECIATION

At 1 January 2021

772,933

Charge for year

98,925

Eliminated on disposal

(100,831

)

At 31 December 2021

771,027

NET BOOK VALUE

At 31 December 2021

628,869

At 31 December 2020

715,420

5.	LEASING AGREEMENTS

Land and Buildings

Other

2021

2020

2021

2020

£

£

£

£

Operating leases which expire:-

Not later than one year

0

0

26,110

29,815

Later than one year and not later than five years

310,290

504,329

129,500

143,750