Kerr & Co Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 10446955 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

KERR & CO LIMITED

TRADING AS

JOHN KERR - CHARTERED ACCOUNTANTS

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

276,225

333,375

Tangible assets

5

16,467

19,384

292,692

352,759

CURRENT ASSETS

Debtors

6

391,635

331,559

Cash at bank and in hand

34,247

150,985

425,882

482,544

CREDITORS

Amounts falling due within one year

7

681,178

787,353

NET CURRENT LIABILITIES

(255,296

)

(304,809

)

TOTAL ASSETS LESS CURRENT LIABILITIES

37,396

47,950

CREDITORS

Amounts falling due after more than one year

8

(34,167

)

(44,167

)

PROVISIONS FOR LIABILITIES

(3,129

)

(3,683

)

NET ASSETS

100

100

CAPITAL AND RESERVES

Called up share capital

100

100

100

100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 30 January 2023 and were signed on its behalf by:

D S Glover - Director

1.	STATUTORY INFORMATION

Kerr & Co Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

10446955

Registered office:

375 Eaton Road

West Derby

Liverpool

Merseyside

L12 2AH

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

All of our revenue streams involve the rendering of services. Turnover is only recognised once the outcome of these transactions can be estimated reliably. Turnover represents amounts chargeable to clients, including expenses and disbursements, but excluding value added tax. Turnover not invoiced to clients at the accounting date is included in amounts recoverable on contracts within debtors.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Furniture & equipment

-

10% on 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.

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

The company operates defined contribution pension schemes. Contributions payable to the company's pension schemes are charged to the income statement in the period to which they relate.

3.

EMPLOYEES

The average number of employees during the year was 8 (2021 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

571,500

AMORTISATION

At 1 April 2021

238,125

Amortisation for year

57,150

At 31 March 2022

295,275

NET BOOK VALUE

At 31 March 2022

276,225

At 31 March 2021

333,375

5.	TANGIBLE FIXED ASSETS

Furniture

& equipment

£

COST

At 1 April 2021

and 31 March 2022

29,170

DEPRECIATION

At 1 April 2021

9,786

Charge for year

2,917

At 31 March 2022

12,703

NET BOOK VALUE

At 31 March 2022

16,467

At 31 March 2021

19,384

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

230,090

203,100

Amounts recoverable on

contracts

136,759

101,190

Other debtors

24,786

27,269

391,635

331,559

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loan

10,000

5,833

Trade creditors

13,622

14,733

Amounts owed to group undertakings

604,474

690,767

Taxation and social security

38,066

60,947

Other creditors

15,016

15,073

681,178

787,353

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loan

34,167

44,167

Amounts falling due in more than five years:

Repayable by instalments

Bank loan

-

4,167

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.22

31.3.21

£

£

Within one year

15,000

15,000

Between one and five years

56,250

60,000

In more than five years

-

11,250

71,250

86,250

10.	CONTINGENT LIABILITIES

The company is party to a debenture and cross guarantee containing fixed and floating charges over all assets of the company to secure the liabilities of its parent undertaking and its subsidiary undertakings to their bankers.

11.	PARENT UNDERTAKING