Kernon Countryside Consultants Ltd 07598736 false 2021-05-01 2022-04-30 2022-04-30 The principal activity of the company is that of chartered surveyors and rural planning consultants. Digita Accounts Production Advanced 6.30.9574.0 true 07598736 2021-05-01 2022-04-30 07598736 2022-04-30 07598736 core:AcceleratedTaxDepreciationDeferredTax 2022-04-30 07598736 core:ProvisionsDeferredTax 2022-04-30 07598736 core:RetainedEarningsAccumulatedLosses 2022-04-30 07598736 core:ShareCapital 2022-04-30 07598736 core:CurrentFinancialInstruments 2022-04-30 07598736 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 07598736 core:Non-currentFinancialInstruments 2022-04-30 07598736 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-30 07598736 core:Goodwill 2022-04-30 07598736 core:FurnitureFittingsToolsEquipment 2022-04-30 07598736 bus:SmallEntities 2021-05-01 2022-04-30 07598736 bus:AuditExemptWithAccountantsReport 2021-05-01 2022-04-30 07598736 bus:FullAccounts 2021-05-01 2022-04-30 07598736 bus:SmallCompaniesRegimeForAccounts 2021-05-01 2022-04-30 07598736 bus:RegisteredOffice 2021-05-01 2022-04-30 07598736 bus:Director2 2021-05-01 2022-04-30 07598736 bus:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30 07598736 core:Goodwill 2021-05-01 2022-04-30 07598736 core:FurnitureFittingsToolsEquipment 2021-05-01 2022-04-30 07598736 core:OfficeEquipment 2021-05-01 2022-04-30 07598736 core:PlantMachinery 2021-05-01 2022-04-30 07598736 countries:AllCountries 2021-05-01 2022-04-30 07598736 core:Goodwill 2021-04-30 07598736 core:FurnitureFittingsToolsEquipment 2021-04-30 07598736 2020-05-01 2021-04-30 07598736 2021-04-30 07598736 core:AcceleratedTaxDepreciationDeferredTax 2021-04-30 07598736 core:ProvisionsDeferredTax 2021-04-30 07598736 core:RetainedEarningsAccumulatedLosses 2021-04-30 07598736 core:ShareCapital 2021-04-30 07598736 core:CurrentFinancialInstruments 2021-04-30 07598736 core:CurrentFinancialInstruments core:WithinOneYear 2021-04-30 07598736 core:Non-currentFinancialInstruments 2021-04-30 07598736 core:Non-currentFinancialInstruments core:AfterOneYear 2021-04-30 07598736 core:Goodwill 2021-04-30 07598736 core:FurnitureFittingsToolsEquipment 2021-04-30 iso4217:GBP xbrli:pure

Registration number: 07598736

Prepared for the registrar

Kernon Countryside Consultants Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2022

 

Kernon Countryside Consultants Ltd

(Registration number: 07598736)
Balance Sheet as at 30 April 2022

Note

2022
 £

2021
 £

Fixed assets

 

Intangible assets

5

75,000

93,750

Tangible assets

6

10,639

13,754

 

85,639

107,504

Current assets

 

Debtors

7

111,316

116,155

Cash at bank and in hand

 

45,251

99,409

 

156,567

215,564

Creditors: Amounts falling due within one year

8

(135,840)

(207,099)

Net current assets

 

20,727

8,465

Total assets less current liabilities

 

106,366

115,969

Creditors: Amounts falling due after more than one year

8

(15,758)

(25,214)

Deferred tax liabilities

4

(2,598)

(2,570)

Net assets

 

88,010

88,185

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

87,910

88,085

Total equity

 

88,010

88,185

For the financial year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 Board on 17 August 2022 and signed on its behalf by:
 

Mrs S Kernon
Director

   
     
 

Kernon Countryside Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

 

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:
Greenacres Barn
Stoke Common Lane
Purton Stoke
Swindon
Wiltshire
SN5 4LL

 

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge 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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Kernon Countryside Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

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.

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

Office equipment

Reducing balance 15%

Plant and machinery

Reducing balance 25%

Intangible assets

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.

Negative goodwill arising on an acquisition is recognised on the face of the balance sheet on the acquisition date and subsequently the excess up to the fair value of non-monetary assets acquired is recognised in profit or loss in the periods in which the non-monetary assets are recovered.

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

Straight line over 10 years

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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.

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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

 

Kernon Countryside Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2021 - 7).

 

Kernon Countryside Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

 

4

Deferred tax

Deferred tax assets and liabilities

2022

Asset
£

Liability
£

Fixed asset timing differences

-

2,660

Short term timing differences

62

-

 

62

2,660

2021

Asset
£

Liability
£

Fixed asset timing differences

-

2,613

Short term timing differences

43

-

 

43

2,613

 

5

Intangible assets

Goodwill
 £

Cost

At 1 May 2021

250,000

At 30 April 2022

250,000

Amortisation

At 1 May 2021

156,250

Amortisation charge

18,750

At 30 April 2022

175,000

Carrying amount

At 30 April 2022

75,000

At 30 April 2021

93,750

 

Kernon Countryside Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

 

6

Tangible assets

Furniture, fittings and equipment
 £

Cost

At 1 May 2021

32,386

Additions

1,257

Disposals

(7,761)

At 30 April 2022

25,882

Depreciation

At 1 May 2021

18,632

Charge for the year

2,280

Eliminated on disposal

(5,669)

At 30 April 2022

15,243

Carrying amount

At 30 April 2022

10,639

At 30 April 2021

13,754

 

7

Debtors

2022
 £

2021
 £

Trade debtors

97,712

102,493

Prepayments and accrued income

13,604

13,662

111,316

116,155

 

8

Creditors

Note

2022
 £

2021
 £

Due within one year

 

Loans and borrowings

9

32,507

109,487

Trade creditors

 

24,794

14,669

Social security and other taxes

 

33,022

36,120

Other creditors

 

580

527

Accrued expenses

 

2,200

2,200

Corporation tax liability

42,737

44,096

 

135,840

207,099

Due after one year

 

Loans and borrowings

9

15,758

25,214

 

Kernon Countryside Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

 

9

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Bank loan - secured

4,398

55,501

Bank overdrafts

7,622

9,671

Directors' loan

20,487

44,315

32,507

109,487

2022
£

2021
£

Non-current loans and borrowings

Bank loan - secured

15,758

25,214

 

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £6,000 (2021 - £1,196).

 

11

Related party transactions

Transactions with directors

At 30 April 2022 the company owed the directors Mr A P Kernon and Mrs S Kernon £20,487 (2021: £44,315) in the form of a directors' loan account. The loan is unsecured, repayable on demand and no interest was charged on the loan.