1 July 2022 v2024.6.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP049555462022-07-012023-06-30049555462023-06-30049555462022-06-3004955546core:WithinOneYear2023-06-3004955546core:WithinOneYear2022-06-3004955546core:AfterOneYear2023-06-3004955546core:AfterOneYear2022-06-3004955546core:ShareCapital2023-06-3004955546core:ShareCapital2022-06-3004955546core:RetainedEarningsAccumulatedLosses2023-06-3004955546core:RetainedEarningsAccumulatedLosses2022-06-3004955546bus:Director12022-07-012023-06-3004955546bus:RegisteredOffice2022-07-012023-06-3004955546core:PlantMachinery2022-07-012023-06-30049555462021-07-012022-06-3004955546core:PlantMachinery2022-07-0104955546core:PlantMachinery2023-06-3004955546core:PlantMachinery2022-06-300495554612022-07-012023-06-3004955546countries:EnglandWales2022-07-012023-06-3004955546bus:AuditExemptWithAccountantsReport2022-07-012023-06-3004955546bus:PrivateLimitedCompanyLtd2022-07-012023-06-3004955546bus:SmallEntities2022-07-012023-06-3004955546bus:FullAccounts2022-07-012023-06-30
Company registration number:
04955546
A J Kelly & Co (UK) Ltd
Unaudited Filleted Financial Statements for the year ended
30 June 2023
A J Kelly & Co (UK) Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of A J Kelly & Co (UK) Ltd
Year ended
30 June 2023
As described on the statement of financial position, the Board of Directors of
A J Kelly & Co (UK) Ltd
are responsible for the preparation of the
financial statements
for the year ended
30 June 2023
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Atkinson Accounts
Egerton House
55 Hoole Road
Chester
CH2 3NJ
United Kingdom
Date:
13 February 2024
A J Kelly & Co (UK) Ltd
Statement of Financial Position
30 June 2023
20232022
Note££
Fixed assets    
Tangible assets 5
145,091
 
61,868
 
Current assets    
Stocks
11,000
 
15,000
 
Debtors 6
55,523
 
78,733
 
Cash at bank and in hand
181,331
 
42,826
 
247,854
 
136,559
 
Creditors: amounts falling due within one year 7
(177,409
)
(123,781
)
Net current assets
70,445
 
12,778
 
Total assets less current liabilities 215,536   74,646  
Creditors: amounts falling due after more than one year 8
(48,904
)
(37,779
)
Net assets
166,632
 
36,867
 
Capital and reserves    
Called up share capital
2
 
2
 
Profit and loss account
166,630
 
36,865
 
Shareholders funds
166,632
 
36,867
 
For the 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 financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
13 February 2024
, and are signed on behalf of the board by:
A Kelly
Director
Company registration number:
04955546
A J Kelly & Co (UK) Ltd
Notes to the Financial Statements
Year ended
30 June 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
55 Hoole Road
,
Chester
,
CH2 3NJ
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
20% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
6
(2022:
6
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 July 2022
93,501
 
Additions
146,954
 
Disposals
(46,000
)
At
30 June 2023
194,455
 
Depreciation  
At
1 July 2022
31,633
 
Charge
17,731
 
At
30 June 2023
49,364
 
Carrying amount  
At
30 June 2023
145,091
 
At 30 June 2022
61,868
 

6 Debtors

20232022
££
Trade debtors
49,021
 
62,452
 
Other debtors
6,502
 
16,281
 
55,523
 
78,733
 

7 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
3,105
 
3,105
 
Trade creditors
99,933
 
81,646
 
Taxation and social security
18,999
 
4,025
 
Other creditors
55,372
 
35,005
 
177,409
 
123,781
 

8 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
16,596
 
19,174
 
Other creditors
32,308
 
18,605
 
48,904
 
37,779