Keohane Carpentry and Construction Ltd 09117304 false 2017-08-01 2018-07-31 2018-07-31 The principal activity of the company is carpentry and construction services. Digita Accounts Production Advanced 6.21.8540.0 Software true 09117304 2017-08-01 2018-07-31 09117304 2018-07-31 09117304 core:RetainedEarningsAccumulatedLosses 2018-07-31 09117304 core:ShareCapital 2018-07-31 09117304 core:CurrentFinancialInstruments 2018-07-31 09117304 core:CurrentFinancialInstruments core:WithinOneYear 2018-07-31 09117304 core:Goodwill 2018-07-31 09117304 core:OfficeEquipment 2018-07-31 09117304 bus:SmallEntities 2017-08-01 2018-07-31 09117304 bus:AuditExemptWithAccountantsReport 2017-08-01 2018-07-31 09117304 bus:FullAccounts 2017-08-01 2018-07-31 09117304 bus:SmallCompaniesRegimeForAccounts 2017-08-01 2018-07-31 09117304 bus:RegisteredOffice 2017-08-01 2018-07-31 09117304 bus:Director1 2017-08-01 2018-07-31 09117304 bus:PrivateLimitedCompanyLtd 2017-08-01 2018-07-31 09117304 core:Goodwill 2017-08-01 2018-07-31 09117304 core:ComputerEquipment 2017-08-01 2018-07-31 09117304 core:OfficeEquipment 2017-08-01 2018-07-31 09117304 countries:AllCountries 2017-08-01 2018-07-31 09117304 2017-07-31 09117304 core:Goodwill 2017-07-31 09117304 core:OfficeEquipment 2017-07-31 09117304 2016-08-01 2017-07-31 09117304 2017-07-31 09117304 core:RetainedEarningsAccumulatedLosses 2017-07-31 09117304 core:ShareCapital 2017-07-31 09117304 core:CurrentFinancialInstruments 2017-07-31 09117304 core:CurrentFinancialInstruments core:WithinOneYear 2017-07-31 09117304 core:Goodwill 2017-07-31 09117304 core:OfficeEquipment 2017-07-31 iso4217:GBP xbrli:pure

Registration number: 09117304

Keohane Carpentry and Construction Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2018

 

Keohane Carpentry and Construction Ltd

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 6

 

Keohane Carpentry and Construction Ltd

(Registration number: 09117304)
Balance Sheet as at 31 July 2018

Note

2018
£

2017
£

Fixed assets

 

Intangible assets

4

2,000

4,000

Tangible assets

5

187

280

 

2,187

4,280

Current assets

 

Debtors

6

2,581

928

Cash at bank and in hand

 

39,172

33,821

 

41,753

34,749

Creditors: Amounts falling due within one year

7

(26,903)

(27,402)

Net current assets

 

14,850

7,347

Net assets

 

17,037

11,627

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

16,937

11,527

Total equity

 

17,037

11,627

For the financial year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 17 October 2018
 

.........................................

N Keohane
Director

 

Keohane Carpentry and Construction Ltd

Notes to the Financial Statements for the Year Ended 31 July 2018

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7a King Street
Frome
Somerset
BA11 1BH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Keohane Carpentry and Construction Ltd

Notes to the Financial Statements for the Year Ended 31 July 2018

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

25% on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Keohane Carpentry and Construction Ltd

Notes to the Financial Statements for the Year Ended 31 July 2018

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2017 - 1).

 

Keohane Carpentry and Construction Ltd

Notes to the Financial Statements for the Year Ended 31 July 2018

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2017

10,000

10,000

At 31 July 2018

10,000

10,000

Amortisation

At 1 August 2017

6,000

6,000

Amortisation charge

2,000

2,000

At 31 July 2018

8,000

8,000

Net book value

At 31 July 2018

2,000

2,000

At 31 July 2017

4,000

4,000

5

Tangible assets

Computer
£

Total
£

Cost or valuation

At 1 August 2017

373

373

At 31 July 2018

373

373

Depreciation

At 1 August 2017

93

93

Charge for the year

93

93

At 31 July 2018

186

186

Carrying amount

At 31 July 2018

187

187

At 31 July 2017

280

280

6

Debtors

2018
£

2017
£

Other debtors

2,581

928

2,581

928

 

Keohane Carpentry and Construction Ltd

Notes to the Financial Statements for the Year Ended 31 July 2018

7

Creditors

Amounts falling due within one year

2018
£

2017
£

Due within one year

Taxation and social security

1,844

1,788

Accruals and deferred income

860

860

Other creditors

19,393

19,393

Corporation tax

4,806

5,361

26,903

27,402