Company Registration No. 11508020 (England and Wales)
BLOORE KING AND KAVANAGH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
BLOORE KING AND KAVANAGH LIMITED
COMPANY INFORMATION
Directors
Mr C M Bloore
Mrs L Bloore
Mr T J Kavanagh
Company number
11508020
Registered office
8 Hagley Road
Halesowen
West Midlands
B63 4RG
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
114 High Street
Stourbridge
DY8 1DZ
BLOORE KING AND KAVANAGH LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
BLOORE KING AND KAVANAGH LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BLOORE KING AND KAVANAGH LIMITED FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bloore King and Kavanagh Limited for the year ended 30 September 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of Bloore King and Kavanagh Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bloore King and Kavanagh Limited and state those matters that we have agreed to state to the Board of Directors of Bloore King and Kavanagh Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bloore King and Kavanagh Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Bloore King and Kavanagh Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bloore King and Kavanagh Limited. You consider that Bloore King and Kavanagh Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Bloore King and Kavanagh Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
7 March 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
BLOORE KING AND KAVANAGH LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2023
30 September 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,078
914
Investments
5
1,100
1,100
2,178
2,014
Current assets
Debtors
6
22,633
22,446
Cash at bank and in hand
142,388
160,017
165,021
182,463
Creditors: amounts falling due within one year
7
(122,939)
(139,740)
Net current assets
42,082
42,723
Total assets less current liabilities
44,260
44,737
Creditors: amounts falling due after more than one year
8
(17,370)
(27,447)
Provisions for liabilities
10
(270)
(133)
Net assets
26,620
17,157
Capital and reserves
Called up share capital
11
300
300
Profit and loss reserves
26,320
16,857
Total equity
26,620
17,157
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BLOORE KING AND KAVANAGH LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023
30 September 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 7 March 2024 and are signed on its behalf by:
Mrs L Bloore
Director
Company Registration No. 11508020
BLOORE KING AND KAVANAGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 4 -
1
Accounting policies
Company information
Bloore King and Kavanagh Limited is a private company limited by shares incorporated in England and Wales. The registered office is 8 Hagley Road, Halesowen, West Midlands, B63 4RG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and has been amortised on a systematic basis over its expected life.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on cost
Computer equipment
25% on cost
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
BLOORE KING AND KAVANAGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 5 -
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 12 (2022 - 11).
BLOORE KING AND KAVANAGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2022 and 30 September 2023
36,000
Amortisation and impairment
At 1 October 2022 and 30 September 2023
36,000
Carrying amount
At 30 September 2023
At 30 September 2022
4
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 October 2022
10,504
1,471
11,975
Additions
899
899
At 30 September 2023
10,504
2,370
12,874
Depreciation and impairment
At 1 October 2022
9,974
1,087
11,061
Depreciation charged in the year
309
426
735
At 30 September 2023
10,283
1,513
11,796
Carrying amount
At 30 September 2023
221
857
1,078
At 30 September 2022
530
384
914
5
Fixed asset investments
2023
2022
£
£
Investments
1,100
1,100
BLOORE KING AND KAVANAGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
5
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 October 2022 & 30 September 2023
1,100
Carrying amount
At 30 September 2023
1,100
At 30 September 2022
1,100
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
14,388
14,611
Other debtors
8,245
7,835
22,633
22,446
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,077
9,829
Trade creditors
12,182
10,370
Amounts owed to group undertakings
1,688
Taxation and social security
31,826
43,995
Other creditors
68,854
73,858
122,939
139,740
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
17,370
27,447
BLOORE KING AND KAVANAGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 8 -
9
Secured debts
The following secured debts are included within creditors:
2023
2022
£
£
Bank loans
27,447
37,276
Bank loans are secured by way of a government-backed guarantee.
10
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
270
133
11
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
75 Ordinary A of £1 each
75
75
75 Ordinary B of £1 each
75
75
135 Ordinary C of £1 each
135
135
15 Ordinary D of £1 each
15
15
300
300
12
Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
13
Ultimate controlling party
There is no ultimate controlling party.
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