Kerr & Co Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 10446955 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 26 OCTOBER 2016 TO 31 MARCH 2018

FOR

KERR & CO LIMITED

TRADING AS

JOHN KERR - CHARTERED ACCOUNTANTS

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

504,825

Tangible assets

5

17,700

522,525

CURRENT ASSETS

Debtors

6

335,575

Cash at bank and in hand

26,137

361,712

CREDITORS

Amounts falling due within one year

7

680,774

NET CURRENT LIABILITIES

(319,062

)

TOTAL ASSETS LESS CURRENT LIABILITIES

203,463

CREDITORS

Amounts falling due after more than one year

8

(200,000

)

PROVISIONS FOR LIABILITIES

(3,363

)

NET ASSETS

100

CAPITAL AND RESERVES

Called up share capital

100

100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2018 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 18 July 2018 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

L12 2AH

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.

Turnover

All of our revenue steams 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 period 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 period 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 profit or loss in the period to which they relate.

3.

EMPLOYEES

The average number of employees during the period was 17 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

571,500

At 31 March 2018

571,500

AMORTISATION

Charge for period

66,675

At 31 March 2018

66,675

NET BOOK VALUE

At 31 March 2018

504,825

5.	TANGIBLE FIXED ASSETS

Furniture

& equipment

£

COST

Additions

19,766

At 31 March 2018

19,766

DEPRECIATION

Charge for period

2,066

At 31 March 2018

2,066

NET BOOK VALUE

At 31 March 2018

17,700

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

192,340

Amounts recoverable on

contracts

110,423

Other debtors

32,812

335,575

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

27,715

Amounts owed to group undertakings

478,586

Taxation and social security

56,941

Other creditors

117,532

680,774

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other creditors

200,000

9.	LEASING AGREEMENTS

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

£

Within one year

15,000

Between one and five years

60,000

In more than five years

56,250

131,250

10.	SECURED DEBTS

The following secured debts are included within creditors:

£

Deferred consideration payable

300,000

The deferred consideration payable is secured by a floating charge over the company's book debts.

11.	PARENT UNDERTAKING