Kerr & Co Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10446955 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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

276,225

Tangible assets

5

13,550

16,467

289,775

292,692

CURRENT ASSETS

Debtors

6

209,003

391,635

Cash at bank and in hand

97,466

34,247

306,469

425,882

CREDITORS

Amounts falling due within one year

7

569,402

681,178

NET CURRENT LIABILITIES

(262,933

)

(255,296

)

TOTAL ASSETS LESS CURRENT LIABILITIES

26,842

37,396

CREDITORS

Amounts falling due after more than one year

8

(24,167

)

(34,167

)

PROVISIONS FOR LIABILITIES

(2,575

)

(3,129

)

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 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 14 December 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 stated at cost less amortisation to date. The directors have reviewed the estimated useful life & amortisation period and consider that, for this year, no amortisation charge is required.

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 (2022 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

571,500

AMORTISATION

At 1 April 2022

and 31 March 2023

295,275

NET BOOK VALUE

At 31 March 2023

276,225

At 31 March 2022

276,225

5.	TANGIBLE FIXED ASSETS

Furniture

& equipment

£

COST

At 1 April 2022

and 31 March 2023

29,170

DEPRECIATION

At 1 April 2022

12,703

Charge for year

2,917

At 31 March 2023

15,620

NET BOOK VALUE

At 31 March 2023

13,550

At 31 March 2022

16,467

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

105,603

230,090

Amounts recoverable on

contracts

78,677

136,759

Other debtors

24,723

24,786

209,003

391,635

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loan

10,000

10,000

Trade creditors

14,333

13,622

Amounts owed to group undertakings

511,175

604,474

Taxation and social security

15,154

38,066

Other creditors

18,740

15,016

569,402

681,178

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loan

24,167

34,167

9.	LEASING AGREEMENTS

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

31.3.23

31.3.22

£

£

Within one year

15,000

15,000

Between one and five years

41,250

56,250

56,250

71,250

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