REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2022 |
for |
Kenneth Keegan Funeral Services Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2022 |
for |
Kenneth Keegan Funeral Services Ltd |
Kenneth Keegan Funeral Services Ltd (Registered number: SC475616) |
Contents of the Financial Statements |
for the Year Ended 30 April 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 10 |
Kenneth Keegan Funeral Services Ltd |
Company Information |
for the Year Ended 30 April 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
St James Business Centre |
Linwood Road |
Paisley |
Renfrewshire |
PA3 3AT |
Kenneth Keegan Funeral Services Ltd (Registered number: SC475616) |
Balance Sheet |
30 April 2022 |
30.4.22 | 30.4.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
Kenneth Keegan Funeral Services Ltd (Registered number: SC475616) |
Balance Sheet - continued |
30 April 2022 |
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 and authorised for issue on |
Kenneth Keegan Funeral Services Ltd (Registered number: SC475616) |
Notes to the Financial Statements |
for the Year Ended 30 April 2022 |
1. | STATUTORY INFORMATION |
Kenneth Keegan Funeral Services Ltd is a |
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. |
Significant judgements and estimates |
The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. The directors are of the opinion that due to the nature of the business, there are no critical accounting estimates of judgements used in the preparation of these financial statements. |
Turnover |
Turnover is measured as the value of the consideration received or receivable excluding all taxes in relation to funeral packages provided and vehicle hire services provided. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Government grants |
Grants received in the year follow the accrual model and are disclosed separately under other income. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Kenneth Keegan Funeral Services Ltd (Registered number: SC475616) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Trade and other debtors / creditors |
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. |
Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash balances and call deposits. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised within profit and loss. |
For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the assets carrying amount and the present value of estimated future cash flows discounted at the assets original effective interest rate. If a financial asset has a variable interest rate, the discount rate of measuring any impairment loss is the current effective interest rate determined under the contract. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the assets carrying amount and the best estimate of the amount that the company would receive for the asset if it were sold at the balance sheet date. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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. |
Kenneth Keegan Funeral Services Ltd (Registered number: SC475616) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
2. | ACCOUNTING POLICIES - continued |
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. |
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 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2021 |
Additions |
Disposals | ( |
) |
At 30 April 2022 |
DEPRECIATION |
At 1 May 2021 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 April 2022 |
NET BOOK VALUE |
At 30 April 2022 |
At 30 April 2021 |
Kenneth Keegan Funeral Services Ltd (Registered number: SC475616) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2021 |
and 30 April 2022 |
DEPRECIATION |
At 1 May 2021 |
Charge for year |
At 30 April 2022 |
NET BOOK VALUE |
At 30 April 2022 |
At 30 April 2021 |
5. | DEBTORS |
30.4.22 | 30.4.21 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.22 | 30.4.21 |
£ | £ |
Hire purchase contracts (see note 8) |
Trade creditors |
Taxation and social security |
Other creditors |
Kenneth Keegan Funeral Services Ltd (Registered number: SC475616) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.22 | 30.4.21 |
£ | £ |
Hire purchase contracts (see note 8) |
8. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
30.4.22 | 30.4.21 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable operating | leases |
30.4.22 | 30.4.21 |
£ | £ |
Within one year |
Between one and five years |
Lease commitments relates to property lease entered into for a ten year period with break options at three, five and eight years. Disclosure of financial commitment within accounts includes up to the three year break option. |
9. | PROVISIONS FOR LIABILITIES |
30.4.22 | 30.4.21 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Balance at 1 May 2021 |
Provided during year |
Balance at 30 April 2022 |
Kenneth Keegan Funeral Services Ltd (Registered number: SC475616) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
10. | RELATED PARTY DISCLOSURES |
As at the balance sheet date, the amount due from Ross Carriage Masters Limited, a company under common control of the directors, was £173,742 [2021: - £173,742]. This balance is included within debtors due after one year. |
In the year, the company operated a Director Loan accounts for both directors. As at the year end, the company owed the directors £3 [2021 - £3]. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Kenneth Keegan Funeral Services Ltd |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kenneth Keegan Funeral Services Ltd for the year ended 30 April 2022 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
This report is made solely to the Board of Directors of Kenneth Keegan Funeral Services Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kenneth Keegan Funeral Services Ltd and state those matters that we have agreed to state to the Board of Directors of Kenneth Keegan Funeral Services Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Kenneth Keegan Funeral Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kenneth Keegan Funeral Services Ltd. You consider that Kenneth Keegan Funeral Services Ltd is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Kenneth Keegan Funeral Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
St James Business Centre |
Linwood Road |
Paisley |
Renfrewshire |
PA3 3AT |