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Company registration number:
07050061
Kelly and Richardson Ltd
Unaudited Filleted Financial Statements for the year ended
31 December 2021
Ginger Accounts
AAT
28 Rowanwater, Garstang Road, St Michaels, Preston, Lancashire, PR3 0TD, United Kingdom
Kelly and Richardson Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Kelly and Richardson Ltd
Year ended
31 December 2021
As described on the statement of financial position, the Board of Directors of
Kelly and Richardson Ltd
are responsible for the preparation of the
financial statements
for the year ended
31 December 2021
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Ginger Accounts
AAT
28 Rowanwater, Garstang Road
St Michaels
Preston
Lancashire
PR3 0TD
United Kingdom
Date:
18 May 2022
Kelly and Richardson Ltd
Statement of Financial Position
31 December 2021
20212020
Note££
Fixed assets    
Tangible assets 5
2,289
 
1,440
 
Current assets    
Debtors 6
1,184
 
4,635
 
Cash at bank and in hand
15,380
 
11,761
 
16,564
 
16,396
 
Creditors: amounts falling due within one year 7
(7,960
)
(5,692
)
Net current assets
8,604
 
10,704
 
Total assets less current liabilities 10,893   12,144  
Creditors: amounts falling due after more than one year 8
(8,207
)
(12,000
)
Net assets
2,686
 
144
 
Capital and reserves    
Called up share capital
2
 
2
 
Profit and loss account
2,684
 
142
 
Shareholders funds
2,686
 
144
 
For the year ending
31 December 2021
, 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
18 May 2022
, and are signed on behalf of the board by:
Mrs Carole Kelly
Mr John Kelly
DirectorDirector
Company registration number:
07050061
Kelly and Richardson Ltd
Notes to the Financial Statements
Year ended
31 December 2021

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
16 Stonyhurst
,
Chorley
,
PR7 3NR
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

The financial statements have been prepared on a going concern basis

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
25% straight line
Plant and machinery
25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2020:
2.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 January 2021
9,256
 
Additions
1,968
 
At
31 December 2021
11,224
 
Depreciation  
At
1 January 2021
7,816
 
Charge
1,119
 
At
31 December 2021
8,935
 
Carrying amount  
At
31 December 2021
2,289
 
At 31 December 2020
1,440
 

6 Debtors

20212020
££
Trade debtors
1,184
 
4,635
 

7 Creditors: amounts falling due within one year

20212020
££
Bank loans and overdrafts
2,400
  -  
Taxation and social security
4,978
 
6,079
 
Other creditors
582
 
(387
)
7,960
 
5,692
 

8 Creditors: amounts falling due after more than one year

20212020
££
Bank loans and overdrafts
8,207
 
12,000
 

9 Controlling party

The directors are the controlling party by virtue of their controlling shareholding in the company.  The ultimate controlling party is the same as the controlling party