Registered number
09836242
J P Kavanagh Ltd
Unaudited Filleted Accounts
31 October 2023
J P Kavanagh Ltd
Company Information
Director
Mr J P Kavanagh
Accountants
Pitts & SeeUs
Studio 6
6 Hornsey Street
London
N7 8GR
Registered office
Studio 6
6 Hornsey Street
London
N7 8GR
Registered number
09836242
J P Kavanagh Ltd
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of J P Kavanagh Ltd for the year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of J P Kavanagh Ltd for the year ended 31 October 2023 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity 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, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Pitts & SeeUs
Chartered Accountants
Studio 6
6 Hornsey Street
London
N7 8GR
22 July 2024
J P Kavanagh Ltd
Registered number: 09836242
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 13,354 13,378
Current assets
Debtors 4 26,319 29,432
Cash at bank and in hand 11,049 27,548
37,368 56,980
Creditors: amounts falling due within one year 5 (42,636) (46,763)
Net current (liabilities)/assets (5,268) 10,217
Total assets less current liabilities 8,086 23,595
Creditors: amounts falling due after more than one year 6 (4,602) (7,438)
Net assets 3,484 16,157
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,384 16,057
Shareholder's funds 3,484 16,157
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.
Mr J P Kavanagh
Director
Approved by the board on 22 July 2024
J P Kavanagh Ltd
Notes to the Accounts
for the year ended 31 October 2023
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 30,706
Additions 3,315
At 31 October 2023 34,021
Depreciation
At 1 November 2022 17,328
Charge for the year 3,339
At 31 October 2023 20,667
Net book value
At 31 October 2023 13,354
At 31 October 2022 13,378
4 Debtors 2023 2022
£ £
Trade debtors 26,319 29,432
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 3,060 3,060
Trade creditors 13,249 2,249
Corporation tax 10,659 23,623
Other taxes and social security costs 15,235 17,067
Other creditors 433 764
42,636 46,763
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 4,602 7,438
7 Other information
J P Kavanagh Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Studio 6
6 Hornsey Street
London
N7 8GR
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