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REGISTERED NUMBER: 00135927 (England and Wales)

















KELLY & CO. (CRAMB BROS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






KELLY & CO. (CRAMB BROS) LIMITED (REGISTERED NUMBER: 00135927)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


KELLY & CO. (CRAMB BROS) LIMITED (REGISTERED NUMBER: 00135927)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Quoted investments 4 1,876,887 1,944,755
Investment property 5 350,000 350,000
2,226,887 2,294,755

CURRENT ASSETS
Debtors 6 725 330
Cash at bank 24,176 75,298
24,901 75,628
CREDITORS
Amounts falling due within one year 7 6,640 5,862
NET CURRENT ASSETS 18,261 69,766
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,245,148

2,364,521

PROVISIONS FOR LIABILITIES 150,567 127,673
NET ASSETS 2,094,581 2,236,848

CAPITAL AND RESERVES
Called up share capital 14,016 14,016
Share premium 8 4 4
Fair value reserve 8 768,985 869,502
Retained earnings 8 1,311,576 1,353,326
SHAREHOLDERS' FUNDS 2,094,581 2,236,848

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2023 and were signed on its behalf by:





P M Cramb - Director


KELLY & CO. (CRAMB BROS) LIMITED (REGISTERED NUMBER: 00135927)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Kelly & Co. (Cramb Bros) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00135927

Registered office: 9 Eastheath Gardens
Wokingham
Berkshire
RG41 2PH

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.

Going concern
The financial statements have been prepared on a going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Directors' opinion, there are no significant judgements or key sources of estimation uncertainty.

Investment property
Investment properties are shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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 in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current and 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.

KELLY & CO. (CRAMB BROS) LIMITED (REGISTERED NUMBER: 00135927)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Quoted investments
Quoted investments are shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2022 1,944,755
Additions 9,757
Disposals (2 )
Revaluations (77,623 )
At 31 March 2023 1,876,887
NET BOOK VALUE
At 31 March 2023 1,876,887
At 31 March 2022 1,944,755

Quoted investments consist of listed equities which are revalued annually to net realisable value, by reference to the stock market. The original cost of the quoted investments at 31st March 2023 was £1,210,170 (2022: 1,200,416).

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 350,000
NET BOOK VALUE
At 31 March 2023 350,000
At 31 March 2022 350,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2022 252,837
Cost 97,163
350,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 375 330
Other debtors 350 -
725 330

KELLY & CO. (CRAMB BROS) LIMITED (REGISTERED NUMBER: 00135927)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 6,640 5,862

8. RESERVES
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1 April 2022 1,353,326 4 869,502 2,222,832
Deficit for the year (40,651 ) (40,651 )
Dividends (101,616 ) (101,616 )
Revaluation in year 100,517 - (100,517 ) -
At 31 March 2023 1,311,576 4 768,985 2,080,565

Unrealised gains and losses on revaluation of quoted investments are recognised through the profit and loss account as required by FRS 102.

Deferred tax is recognised on the net unrealised gain, being the difference between the original cost of the investments, adjusted for indexation allowance, and the fair value at the balance sheet date.

During the year, there was a revaluation loss of £77,623 (2022: gain of £63,094) on the quoted investments, which is recognised within the income statement and fair value reserve net of movement on deferred taxation of £22,894 (2022: £11,988).

9. RELATED PARTY DISCLOSURES

At the year end the company owed £333 (2022: £333) to P M Cramb.