Peter Kelly (G.B.) Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 03206343 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

PETER KELLY (G.B.) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs D Kelly

Mr L Kelly

Miss J Kelly

REGISTERED OFFICE:

5&6 Manor Court

Manor Garth

Scarborough

North Yorkshire

YO11 3TU

REGISTERED NUMBER:

03206343 (England and Wales)

ACCOUNTANTS:

Fortus North Limited

Business Advisors & Accountants

5&6 Manor Court

Manor Garth

Scarborough

North Yorkshire

YO11 3TU

FIXED ASSETS

Tangible assets

4

4,003

4,448

CURRENT ASSETS

Stocks

1,210,511

1,554,537

Debtors

5

24,473

2,858

Cash at bank

1,240,152

524,432

2,475,136

2,081,827

CREDITORS

Amounts falling due within one year

6

163,096

92,482

NET CURRENT ASSETS

2,312,040

1,989,345

TOTAL ASSETS LESS CURRENT LIABILITIES

2,316,043

1,993,793

CREDITORS

Amounts falling due after more than one year

7

1,445,000

1,445,000

NET ASSETS

871,043

548,793

CAPITAL AND RESERVES

Called up share capital

8

101

101

Retained earnings

870,942

548,692

SHAREHOLDERS' FUNDS

871,043

548,793

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 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 25 November 2022 and were signed on its behalf by:

Mr L Kelly - Director

1.	STATUTORY INFORMATION

Peter Kelly (G.B.) 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.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

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.

Plant and machinery

-

10% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2021

and 31 December 2021

11,382

DEPRECIATION

At 1 January 2021

6,934

Charge for year

445

At 31 December 2021

7,379

NET BOOK VALUE

At 31 December 2021

4,003

At 31 December 2020

4,448

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

24,473

2,858

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

3,987

3,306

Taxation and social security

76,777

1,070

Other creditors

82,332

88,106

163,096

92,482

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Other creditors

1,445,000

1,445,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary

£1

100

100

1

Ordinary B

£1

1

1

101

101

9.	RELATED PARTY DISCLOSURES

Included within creditors falling due after more than one year is £445,000 owed to Kelly Limited. One of the directors and shareholder of Peter Kelly (G.B.) Limited is also a director and shareholder of Kelly Limited.