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REGISTERED NUMBER: 04686941 (England and Wales)















KELVIN FRANCIS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2022






KELVIN FRANCIS LTD (REGISTERED NUMBER: 04686941)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KELVIN FRANCIS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2022







DIRECTORS: A Filice
K L Francis





SECRETARY: K L Francis





REGISTERED OFFICE: 362 Cyncoed Road
Cyncoed
Cardiff
South Glamorgan
CF23 6SA





REGISTERED NUMBER: 04686941 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

KELVIN FRANCIS LTD (REGISTERED NUMBER: 04686941)

BALANCE SHEET
31ST MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 59,165 4,145
Investments 6 2,182 2,182
61,347 6,327

CURRENT ASSETS
Debtors 7 205,328 182,766
Cash at bank and in hand 61,269 63,273
266,597 246,039
CREDITORS
Amounts falling due within one year 8 173,491 189,206
NET CURRENT ASSETS 93,106 56,833
TOTAL ASSETS LESS CURRENT
LIABILITIES

154,453

63,160

CREDITORS
Amounts falling due after more than one
year

9

(39,020

)

(16,792

)

PROVISIONS FOR LIABILITIES (10,896 ) -
NET ASSETS 104,537 46,368

KELVIN FRANCIS LTD (REGISTERED NUMBER: 04686941)

BALANCE SHEET - continued
31ST MARCH 2022

2022 2021
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 103 103
Retained earnings 104,434 46,265
SHAREHOLDERS' FUNDS 104,537 46,368

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th August 2022 and were signed on its behalf by:




K L Francis - Director



A Filice - Director


KELVIN FRANCIS LTD (REGISTERED NUMBER: 04686941)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022

1. STATUTORY INFORMATION

Kelvin Francis Ltd is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - Straight line over 15 years
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
Investments in shares are included at fair value through profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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.


KELVIN FRANCIS LTD (REGISTERED NUMBER: 04686941)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2021 - 16 ) .

KELVIN FRANCIS LTD (REGISTERED NUMBER: 04686941)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2021
and 31st March 2022 250,000
AMORTISATION
At 1st April 2021
and 31st March 2022 250,000
NET BOOK VALUE
At 31st March 2022 -
At 31st March 2021 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st April 2021 30,609 25,797 5,727 29,084 91,217
Additions - 61,995 - - 61,995
At 31st March 2022 30,609 87,792 5,727 29,084 153,212
DEPRECIATION
At 1st April 2021 28,571 24,276 5,630 28,595 87,072
Charge for year 2,038 4,791 24 122 6,975
At 31st March 2022 30,609 29,067 5,654 28,717 94,047
NET BOOK VALUE
At 31st March 2022 - 58,725 73 367 59,165
At 31st March 2021 2,038 1,521 97 489 4,145

KELVIN FRANCIS LTD (REGISTERED NUMBER: 04686941)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
and
fittings
£   
COST
Additions 49,760
At 31st March 2022 49,760
DEPRECIATION
Charge for year 4,147
At 31st March 2022 4,147
NET BOOK VALUE
At 31st March 2022 45,613

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1st April 2021
and 31st March 2022 2,182
NET BOOK VALUE
At 31st March 2022 2,182
At 31st March 2021 2,182

Cost or valuation at 31st March 2022 is represented by:

Other
investments
£   
Valuation in 2022 2,182

KELVIN FRANCIS LTD (REGISTERED NUMBER: 04686941)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 50,731 36,375
Other debtors 32,874 37,877
Loan to Kelvin Francis & Co 37,125 37,390
Directors' current accounts 60,521 60,521
Deferred tax asset - 37
Prepayments 24,077 10,566
205,328 182,766

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 3,333 3,208
Hire purchase contracts 7,254 -
Trade creditors 31,214 10,203
Corporation Tax 20,506 40,442
Social security and other taxes 4,903 5,014
VAT 10,312 43,337
Directors' current accounts 80,112 70,298
Accrued expenses 15,857 16,704
173,491 189,206

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2022 2021
£    £   
Bank loans - 1-2 years - 16,792
Hire purchase contracts 39,020 -
39,020 16,792

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
3 Ordinary A £1 3 3
100 Ordinary B £1 100 100
103 103

KELVIN FRANCIS LTD (REGISTERED NUMBER: 04686941)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

11. RELATED PARTY DISCLOSURES

As at 31 March 2022 the director loan account balances were:

A Filice £60,521 overdrawn (2021 - £60,521 overdrawn)
K L Francis £80,112 in credit (2021 - £70,298 in credit)

Kelvin Francis Ltd was owed £37,125 (2020 - £37,390) by Kelvin Francis and Co, a business also owned and controlled by the directors

A personal guarantee has been issued by both directors to secure the liabilities of Kelvin Francis Ltd to the sum of £60,000.