KELLY ENTERPRISES (N.I.) LTD

Company Registration Number:
NI645963 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 May 2023

Period of accounts

Start date: 01 June 2022

End date: 31 May 2023

KELLY ENTERPRISES (N.I.) LTD

Contents of the Financial Statements

for the Period Ended 31 May 2023

Balance sheet
Notes

KELLY ENTERPRISES (N.I.) LTD

Balance sheet

As at 31 May 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets: 3 3,000 3,750
Tangible assets: 4 4,545 4,646
Total fixed assets: 7,545 8,396
Current assets
Stocks: 35,600 28,150
Debtors:   2,817 3,088
Cash at bank and in hand: 22,853 39,351
Total current assets: 61,270 70,589
Creditors: amounts falling due within one year:   (9,120) (12,468)
Net current assets (liabilities): 52,150 58,121
Total assets less current liabilities: 59,695 66,517
Total net assets (liabilities): 59,695 66,517
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 59,595 66,417
Shareholders funds: 59,695 66,517

The notes form part of these financial statements

KELLY ENTERPRISES (N.I.) LTD

Balance sheet statements

For the year ending 31 May 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 22 February 2024
and signed on behalf of the board by:

Name: Rosaleen Kelly
Status: Director

The notes form part of these financial statements

KELLY ENTERPRISES (N.I.) LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax

Tangible fixed assets and depreciation policy

Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:Fixtures, fittings and equipment 10% Reducing balanceThe carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable

Intangible fixed assets and amortisation policy

Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Statement of Financial Position and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.

Valuation and information policy

Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

KELLY ENTERPRISES (N.I.) LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

2. Employees

2023 2022
Average number of employees during the period 2 2

KELLY ENTERPRISES (N.I.) LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

3. Intangible Assets

Total
Cost £
At 01 June 2022 7,500
At 31 May 2023 7,500
Amortisation
At 01 June 2022 3,750
Charge for year 750
At 31 May 2023 4,500
Net book value
At 31 May 2023 3,000
At 31 May 2022 3,750

KELLY ENTERPRISES (N.I.) LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

4. Tangible Assets

Total
Cost £
At 01 June 2022 6,950
Additions 404
At 31 May 2023 7,354
Depreciation
At 01 June 2022 2,304
Charge for year 505
At 31 May 2023 2,809
Net book value
At 31 May 2023 4,545
At 31 May 2022 4,646