Jeremy Kitchin Practice M&A Ltd 04021604 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is Accountancy practice mergers and acquisitions Digita Accounts Production Advanced 6.30.9574.0 true 04021604 2022-07-01 2023-06-30 04021604 2023-06-30 04021604 bus:OrdinaryShareClass1 2023-06-30 04021604 core:CurrentFinancialInstruments 2023-06-30 04021604 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 04021604 core:FurnitureFittingsToolsEquipment 2023-06-30 04021604 bus:SmallEntities 2022-07-01 2023-06-30 04021604 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 04021604 bus:FullAccounts 2022-07-01 2023-06-30 04021604 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 04021604 bus:RegisteredOffice 2022-07-01 2023-06-30 04021604 bus:Director3 2022-07-01 2023-06-30 04021604 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 04021604 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 04021604 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 04021604 core:PlantMachinery 2022-07-01 2023-06-30 04021604 countries:England 2022-07-01 2023-06-30 04021604 2022-06-30 04021604 core:FurnitureFittingsToolsEquipment 2022-06-30 04021604 2021-07-01 2022-06-30 04021604 2022-06-30 04021604 bus:OrdinaryShareClass1 2022-06-30 04021604 core:CurrentFinancialInstruments 2022-06-30 04021604 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 04021604 core:FurnitureFittingsToolsEquipment 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04021604

Jeremy Kitchin Practice M&A Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Jeremy Kitchin Practice M&A Ltd

(Registration number: 04021604)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

181

225

Current assets

 

Debtors

5

-

16,299

Cash at bank and in hand

 

39,052

66,637

 

39,052

82,936

Creditors: Amounts falling due within one year

6

(15,303)

(24,890)

Net current assets

 

23,749

58,046

Total assets less current liabilities

 

23,930

58,271

Provisions for liabilities

(34)

(45)

Net assets

 

23,896

58,226

Capital and reserves

 

Called up share capital

7

100

100

Revaluation reserve

(19,304)

(19,304)

Retained earnings

43,100

77,430

Shareholders' funds

 

23,896

58,226

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 November 2023
 

.........................................
Miss Lucinda Kitchin
Director

 

Jeremy Kitchin Practice M&A Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Fielding
Main Street
Farnsfield
Newark
NG22 8EA

These financial statements were authorised for issue by the director on 17 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Jeremy Kitchin Practice M&A Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Jeremy Kitchin Practice M&A Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

3,767

3,767

At 30 June 2023

3,767

3,767

Depreciation

At 1 July 2022

3,541

3,541

Charge for the year

45

45

At 30 June 2023

3,586

3,586

Carrying amount

At 30 June 2023

181

181

At 30 June 2022

225

225

5

Debtors

Current

2023
£

2022
£

Trade debtors

-

16,299

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

165

7,245

Other creditors

15,138

17,645

15,303

24,890

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100