James W. Kerr Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC029941 (Scotland)

Financial Statements for the Year Ended 31 May 2017

for

James W. Kerr Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

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.

2nd Floor

Thain House

226 Queensferry Road

Edinburgh

EH4 2BP

FIXED ASSETS

Tangible assets

4

31,378

32,430

CURRENT ASSETS

Debtors

5

24,935

22,380

Cash at bank

4,039

1,447

28,974

23,827

CREDITORS

Amounts falling due within one year

6

17,156

28,899

NET CURRENT ASSETS/(LIABILITIES)

11,818

(5,072

)

TOTAL ASSETS LESS CURRENT LIABILITIES

43,196

27,358

CAPITAL AND RESERVES

Called up share capital

25,000

25,000

Retained earnings

18,196

2,358

SHAREHOLDERS' FUNDS

43,196

27,358

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 28 February 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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

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 3 .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 June 2016

and 31 May 2017

49,236

11,180

60,416

DEPRECIATION

At 1 June 2016

20,962

7,024

27,986

Charge for year

492

560

1,052

At 31 May 2017

21,454

7,584

29,038

NET BOOK VALUE

At 31 May 2017

27,782

3,596

31,378

At 31 May 2016

28,274

4,156

32,430

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Other debtors

24,935

22,380

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Taxation and social security

13,779

20,493

Other creditors

3,377

8,406

17,156

28,899

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £48,000 (2016 - £36,000) were paid to the directors .