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Registration number: 05250372

Kennel Sales Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

Kennel Sales Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Kennel Sales Limited

Company Information

Director

P E Reed

Company secretary

C M Reed

Registered office

59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB

Accountants

Jacobs Allen Limited
Chartered Accountants and Chartered Taxation Advisers
59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB

 

Kennel Sales Limited

(Registration number: 05250372)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,282

1,570

Current assets

 

Debtors

5

799

1,132

Cash at bank and in hand

 

30,854

37,741

 

31,653

38,873

Creditors: Amounts falling due within one year

6

(7,714)

(15,772)

Net current assets

 

23,939

23,101

Net assets

 

25,221

24,671

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

25,121

24,571

Shareholders' funds

 

25,221

24,671

For the financial year ending 31 May 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 his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 February 2024
 

.........................................
P E Reed
Director

 

Kennel Sales Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

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

The address of its registered office is:
59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB

The principal place of business is:
Ladybird Kennels & Cattery
Roman Road
Ingatestone
Essex
CM4 9AD
United Kingdom

These financial statements were authorised for issue by the director on 7 February 2024.

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 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.

Government grants

Grants relating to income on a systemic basis over the periods in which the costs for which the grant is intended to compensate are recognised. A grant that is received as compensation for expense already incurred or for the purpose of giving immediate financial support with no future related cost is recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systemic basis over the expected useful life of the asset.

 

Kennel Sales Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Tax

The tax expense for the period comprises current 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.

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

Furniture, fittings and equipment

20% straight line

Other property, plant and equipment

20% straight line

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Kennel Sales Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

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).

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2022

38,138

124

38,262

Additions

897

-

897

At 31 May 2023

39,035

124

39,159

Depreciation

At 1 June 2022

36,568

124

36,692

Charge for the year

1,185

-

1,185

At 31 May 2023

37,753

124

37,877

Carrying amount

At 31 May 2023

1,282

-

1,282

At 31 May 2022

1,570

-

1,570

 

Kennel Sales Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

5

Debtors

Current

2023
£

2022
£

Prepayments

369

652

Other debtors

430

480

 

799

1,132

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

571

508

Taxation and social security

3,103

8,089

Accruals and deferred income

2,000

2,000

Other creditors

2,040

5,175

7,714

15,772

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £1,960 (2022 - £730).

9

Related party transactions

Other transactions with the director

During the period the director continued to provide interest free advances which are considered repayable on demand. Amounts owing to the director were £2,040 (2022 - £4,599).