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REGISTERED NUMBER: 12515384 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

P Kelly Projects Ltd

P Kelly Projects Ltd (Registered number: 12515384)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P Kelly Projects Ltd

Company Information
for the Year Ended 31 March 2022







DIRECTORS: Mr P N Kelly
Mrs S M Kelly
Ms G F Kelly





REGISTERED OFFICE: Hawthorn Cottage
Osborne Road
Warsash
Southampton
Hampshire
SO31 9GG





REGISTERED NUMBER: 12515384 (England and Wales)





ACCOUNTANTS: Don Roper Accountant Limited
Linden Lea
Allington Lane
West End
Southampton
Hampshire
SO30 3HQ

P Kelly Projects Ltd (Registered number: 12515384)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 626 -

CURRENT ASSETS
Stocks 5 4,103 8,286
Debtors 6 24,072 4,800
Cash at bank 146,039 111,669
174,214 124,755
CREDITORS
Amounts falling due within one year 7 101,219 87,075
NET CURRENT ASSETS 72,995 37,680
TOTAL ASSETS LESS CURRENT
LIABILITIES

73,621

37,680

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 73,521 37,580
SHAREHOLDERS' FUNDS 73,621 37,680

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

P Kelly Projects Ltd (Registered number: 12515384)

Balance Sheet - continued
31 March 2022


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2022 and were signed on its behalf by:




Mr P N Kelly - Director



Mrs S M Kelly - Director


P Kelly Projects Ltd (Registered number: 12515384)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

P Kelly Projects 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - NIL ) .

P Kelly Projects Ltd (Registered number: 12515384)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 833
At 31 March 2022 833
DEPRECIATION
Charge for year 207
At 31 March 2022 207
NET BOOK VALUE
At 31 March 2022 626

5. STOCKS
31.3.22 31.3.21
£    £   
Work-in-progress 4,103 8,286

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 24,072 4,800

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade creditors 29,744 10,036
Corporation tax 13,461 8,815
Social security and other taxes 200 -
VAT 5,540 7,280
Directors' current accounts 49,286 57,362
Accrued expenses 2,988 3,582
101,219 87,075

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.22 31.3.21
value: £    £   
100 Ordinary £1 100 100

P Kelly Projects Ltd (Registered number: 12515384)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

9. RESERVES
Retained
earnings
£   

At 1 April 2021 37,580
Profit for the year 58,109
Dividends (22,168 )
At 31 March 2022 73,521

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2022 and the period ended 31 March 2021:

31.3.22 31.3.21
£    £   
Mr P N Kelly
Balance outstanding at start of year (57,362 ) -
Amounts advanced 31,028 107,151
Amounts repaid (22,953 ) (164,513 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (49,287 ) (57,362 )

11. RELATED PARTY DISCLOSURES

The company was under the control of Mr P and Mrs S Kelly throughout the current period. Mr P and Mrs S Kelly are the managing directors and majority shareholders.

No transactions with related parties were undertaken such as are required to be disclosed under Section 1a (Small entities) for Financial Reporting Standard 102.