Company Registration No. NI692907 (Northern Ireland)
Kennedy Joinery Ltd
Unaudited accounts
for the period from 29 November 2022 to 30 November 2023
Kennedy Joinery Ltd
Unaudited accounts
Contents
Kennedy Joinery Ltd
Company Information
for the period from 29 November 2022 to 30 November 2023
Directors
Stephen Kennedy
Jonathan Kennedy
Company Number
NI692907 (Northern Ireland)
Registered Office
14d Carmavy Road
Nutts Corner
Crumlin
BT29 4TF
United Kingdom
Accountants
DJB Accounting Ltd
34 Knockmoyle Drive
Greystone Road
Antrim
BT41 1HE
Kennedy Joinery Ltd
Accountants' report
Accountants' report to the board of directors of Kennedy Joinery Ltd on the preparation of the unaudited statutory accounts for the period from 29 November 2022 to 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Kennedy Joinery Ltd for the period from
29 November 2022 to
30 November 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Kennedy Joinery Ltd, as a body, in accordance with the terms of our engagement letter dated 1 April 2021. Our work has been undertaken solely to prepare for your approval the accounts of Kennedy Joinery Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kennedy Joinery Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Kennedy Joinery Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Kennedy Joinery Ltd. You consider that Kennedy Joinery Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Kennedy Joinery Ltd. 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 accounts.
DJB Accounting Ltd
34 Knockmoyle Drive
Greystone Road
Antrim
BT41 1HE
21 June 2024
Kennedy Joinery Ltd
Statement of financial position
as at 30 November 2023
Cash at bank and in hand
(19,714)
Creditors: amounts falling due within one year
(59,036)
Net current liabilities
(59,407)
Profit and loss account
(7,409)
Shareholders' funds
(7,407)
For the period ending 30 November 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by
Stephen Kennedy
Director
Company Registration No. NI692907
Kennedy Joinery Ltd
Notes to the Accounts
for the period from 29 November 2022 to 30 November 2023
Kennedy Joinery Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI692907. The registered office is 14d Carmavy Road, Nutts Corner, Crumlin, BT29 4TF, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Kennedy Joinery Ltd
Notes to the Accounts
for the period from 29 November 2022 to 30 November 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors shall continue to adopt the going concern basis of accounting in preparing the financial statements.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
Additions
50,000
16,000
66,000
At 30 November 2023
50,000
16,000
66,000
Charge for the period
10,000
4,000
14,000
At 30 November 2023
10,000
4,000
14,000
At 30 November 2023
40,000
12,000
52,000
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
Taxes and social security
1,104
Loans from directors
56,936
Kennedy Joinery Ltd
Notes to the Accounts
for the period from 29 November 2022 to 30 November 2023
7
Average number of employees
During the period the average number of employees was 0.