Registered number
11976485
KERNEIS ADVISORY LIMITED
Filleted Accounts
31 March 2024
KERNEIS ADVISORY LIMITED
Registered number: 11976485
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,801 7,589
Current assets
Debtors 4 33 4,800
Cash at bank and in hand 18,463 215,656
18,496 220,456
Creditors: amounts falling due within one year 5 (2,050) (7,585)
Net current assets 16,446 212,871
Net assets 21,247 220,460
Capital and reserves
Called up share capital 1 1
Profit and loss account 21,246 220,459
Shareholder's funds 21,247 220,460
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Kerneis
Director
Approved by the board on 9 April 2024
KERNEIS ADVISORY LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Artwork 20% Straight line
Office furniture 33.33% Straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Artwork Office furniture Total
£ £ £
Cost
At 1 April 2023 12,000 1,165 13,165
At 31 March 2024 12,000 1,165 13,165
Depreciation
At 1 April 2023 4,800 776 5,576
Charge for the year 2,400 388 2,788
At 31 March 2024 7,200 1,164 8,364
Net book value
At 31 March 2024 4,800 1 4,801
At 31 March 2023 7,200 389 7,589
4 Debtors 2024 2023
£ £
Trade debtors - 4,800
Other debtors 33 -
33 4,800
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 838 4,538
Other creditors 1,212 3,047
2,050 7,585
Included in creditors is £312 owing to the director. The loan is interest free and there is no fixed
date of repayment. The director has confirmed that the loan will only be repaid as and when
cash flow permits.
6 Other information
KERNEIS ADVISORY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
582 Honeypot Lane
Stanmore
Middlesex
HA7 1JS
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