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Registration number: 09640453

Joel D Kerr Funeral Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

image-name
 

Joel D Kerr Funeral Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Joel D Kerr Funeral Services Limited

Company Information

Director

Mr Joel David Kerr

Registered office

191 York Road
Hartlepool
England
TS269EE

Accountants

Chuhan and Singh Partnership Limited
Chartered Accountants
81 Borough Road
Middlesbrough
TS1 3AA

 

Joel D Kerr Funeral Services Limited

(Registration number: 09640453)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

387,757

386,857

Current assets

 

Stocks

1,370

1,370

Debtors

5

133,132

133,629

Cash at bank and in hand

 

34,357

67,457

 

168,859

202,456

Creditors: Amounts falling due within one year

6

(114,787)

(123,304)

Net current assets

 

54,072

79,152

Total assets less current liabilities

 

441,829

466,009

Creditors: Amounts falling due after more than one year

6

(177,130)

(219,397)

Net assets

 

264,699

246,612

Capital and reserves

 

Called up share capital

100

100

Retained earnings

264,599

246,512

Shareholders' funds

 

264,699

246,612

 

Joel D Kerr Funeral Services Limited

(Registration number: 09640453)
Balance Sheet as at 30 June 2023 (continued)

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 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 31 January 2024
 

.........................................
Mr Joel David Kerr
Director

 

Joel D Kerr Funeral Services Limited

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 and Wales.

The address of its registered office is:
191 York Road
Hartlepool
England
TS269EE

These financial statements were authorised for issue by the director on 31 January 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 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 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.

 

Joel D Kerr Funeral Services Limited

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

2

Accounting policies (continued)

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

Fixtures and fittings

15% reducing balance

Plant and machinery

15% reducing balance

Leasehold property improvements

20% reducing balance

Motor cars

25% reducing balance

Other vehicles

10% 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Joel D Kerr Funeral Services Limited

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

2

Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Joel D Kerr Funeral Services Limited

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

2

Accounting policies (continued)

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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 5 (2022 - 6).

 

Joel D Kerr Funeral Services Limited

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

4

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

9,244

11,878

12,872

498,833

532,827

Additions

-

-

-

40,360

40,360

Disposals

-

-

-

(18,968)

(18,968)

At 30 June 2023

9,244

11,878

12,872

520,225

554,219

Depreciation

At 1 July 2022

4,959

7,654

5,064

128,293

145,970

Charge for the year

857

634

1,228

31,634

34,353

Eliminated on disposal

-

-

-

(13,861)

(13,861)

At 30 June 2023

5,816

8,288

6,292

146,066

166,462

Carrying amount

At 30 June 2023

3,428

3,590

6,580

374,159

387,757

At 30 June 2022

4,285

4,224

7,808

370,540

386,857

Included within the net book value of land and buildings above is £3,428 (2022 - £4,285) in respect of long leasehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Trade debtors

133,132

109,119

Other debtors

-

24,510

 

133,132

133,629

 

Joel D Kerr Funeral Services Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

42,328

42,147

Trade creditors

 

26,391

50,794

Taxation and social security

 

41,667

25,427

Accruals and deferred income

 

4,335

4,335

Other creditors

 

66

601

 

114,787

123,304

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

177,130

219,397

 

Joel D Kerr Funeral Services Limited

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

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

37,564

55,733

Hire purchase contracts

139,566

163,664

177,130

219,397

2023
£

2022
£

Current loans and borrowings

Bank borrowings

18,230

18,049

Hire purchase contracts

24,098

24,098

42,328

42,147