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COMPANY REGISTRATION NUMBER: 05086921
A KENNEDY CONSTRUCTION LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 April 2023
A KENNEDY CONSTRUCTION LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2023
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
A KENNEDY CONSTRUCTION LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
6
816,572
708,440
CURRENT ASSETS
Debtors
7
461,767
247,569
Cash at bank and in hand
104
199,238
---------
---------
461,871
446,807
CREDITORS: amounts falling due within one year
8
( 395,642)
( 302,899)
---------
---------
NET CURRENT ASSETS
66,229
143,908
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
882,801
852,348
PROVISIONS
Taxation including deferred tax
( 6,285)
( 21,310)
---------
---------
NET ASSETS
876,516
831,038
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
876,416
830,938
---------
---------
SHAREHOLDERS FUNDS
876,516
831,038
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2023 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 .
A KENNEDY CONSTRUCTION LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 18 October 2023 , and are signed on behalf of the board by:
A Kennedy
Director
Company registration number: 05086921
A KENNEDY CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1, Richardshaw Drive, Pudsey, Leeds, West Yorkshire, LS28 6QR.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation to date.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 14 (2022: 12 ).
5. TAX ON PROFIT/(LOSS)
Major components of tax income
2023
2022
£
£
Current tax:
Adjustments in respect of prior periods
( 16,931)
Deferred tax:
Origination and reversal of timing differences
( 15,025)
( 3,168)
--------
--------
Tax on profit/(loss)
( 15,025)
( 20,099)
--------
--------
6. TANGIBLE ASSETS
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 May 2022
524,904
494,484
47,601
164,292
1,572
1,232,853
Additions
213,515
213,515
Disposals
( 129,400)
( 129,400)
---------
---------
--------
---------
-------
------------
At 30 Apr 2023
524,904
578,599
47,601
164,292
1,572
1,316,968
---------
---------
--------
---------
-------
------------
Depreciation
At 1 May 2022
425,062
17,137
80,650
1,564
524,413
Charge for the year
56,588
6,093
20,911
2
83,594
Disposals
( 107,611)
( 107,611)
---------
---------
--------
---------
-------
------------
At 30 Apr 2023
374,039
23,230
101,561
1,566
500,396
---------
---------
--------
---------
-------
------------
Carrying amount
At 30 Apr 2023
524,904
204,560
24,371
62,731
6
816,572
---------
---------
--------
---------
-------
------------
At 30 Apr 2022
524,904
69,422
30,464
83,642
8
708,440
---------
---------
--------
---------
-------
------------
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation to date.
7. DEBTORS
2023
2022
£
£
Trade debtors
431,806
209,014
Other debtors
29,961
38,555
---------
---------
461,767
247,569
---------
---------
8. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
30,564
Trade creditors
338,807
261,402
Social security and other taxes
477
10,014
Other creditors
25,794
31,483
---------
---------
395,642
302,899
---------
---------