James W. Kerr Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC029941 (Scotland)

Financial Statements for the Year Ended 31 May 2023

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.

c/o Neil Nisbet & Co.

Thain House

226 Queensferry Road

Edinburgh

EH4 2BP

FIXED ASSETS

Tangible assets

4

25,072

26,123

Investments

5

1

1

25,073

26,124

CURRENT ASSETS

Debtors

6

112,704

132,106

Cash at bank

22

2

112,726

132,108

CREDITORS

Amounts falling due within one year

7

15,448

15,153

NET CURRENT ASSETS

97,278

116,955

TOTAL ASSETS LESS CURRENT LIABILITIES

122,351

143,079

CREDITORS

Amounts falling due after more than one year

8

18,346

21,324

NET ASSETS

104,005

121,755

CAPITAL AND RESERVES

Called up share capital

25,000

25,000

Retained earnings

79,005

96,755

SHAREHOLDERS' FUNDS

104,005

121,755

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 26 February 2024 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 (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 June 2022

and 31 May 2023

49,236

11,180

60,416

DEPRECIATION

At 1 June 2022

23,914

10,379

34,293

Charge for year

492

559

1,051

At 31 May 2023

24,406

10,938

35,344

NET BOOK VALUE

At 31 May 2023

24,830

242

25,072

At 31 May 2022

25,322

801

26,123

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 June 2022

and 31 May 2023

1

NET BOOK VALUE

At 31 May 2023

1

At 31 May 2022

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Other debtors

112,704

132,106

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Bank loans and overdrafts

2,500

2,764

Taxation and social security

12,146

11,588

Other creditors

802

801

15,448

15,153

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.23

31.5.22

£

£

Bank loans

18,346

21,324

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

8,346

11,324

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £9,000 (2022 - £6,000) were paid to the directors .