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COMPANY REGISTRATION NUMBER: 05086921
A KENNEDY CONSTRUCTION LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 April 2024
A KENNEDY CONSTRUCTION LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
A KENNEDY CONSTRUCTION LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
6
881,301
816,572
CURRENT ASSETS
Debtors
7
195,551
461,767
Cash at bank and in hand
312,812
104
---------
---------
508,363
461,871
CREDITORS: amounts falling due within one year
8
( 300,039)
( 395,642)
---------
---------
NET CURRENT ASSETS
208,324
66,229
------------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,089,625
882,801
PROVISIONS
Taxation including deferred tax
( 41,592)
( 6,285)
------------
---------
NET ASSETS
1,048,033
876,516
------------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
1,047,933
876,416
------------
---------
SHAREHOLDERS FUNDS
1,048,033
876,516
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
A KENNEDY CONSTRUCTION LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 23 August 2024 , and are signed on behalf of the board by:
A Kennedy
M Kennedy
Director
Director
Company registration number: 05086921
A KENNEDY CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1, Richardshaw Drive, Pudsey, Leeds, West Yorkshire, LS28 6QR.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation to date.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 11 (2023: 14 ).
5. TAX ON PROFIT
Major components of tax expense/(income)
2024
2023
£
£
Current tax:
UK current tax expense
33,939
Deferred tax:
Origination and reversal of timing differences
35,307
( 15,025)
--------
--------
Tax on profit
69,246
( 15,025)
--------
--------
6. TANGIBLE ASSETS
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 May 2023
524,904
578,599
47,601
164,292
1,572
1,316,968
Additions
139,967
26,020
165,987
Disposals
( 12,538)
( 12,538)
---------
---------
--------
---------
-------
------------
At 30 Apr 2024
524,904
718,566
47,601
177,774
1,572
1,470,417
---------
---------
--------
---------
-------
------------
Depreciation
At 1 May 2023
374,039
23,230
101,561
1,566
500,396
Charge for the year
68,905
4,874
22,188
2
95,969
Disposals
( 7,249)
( 7,249)
---------
---------
--------
---------
-------
------------
At 30 Apr 2024
442,944
28,104
116,500
1,568
589,116
---------
---------
--------
---------
-------
------------
Carrying amount
At 30 Apr 2024
524,904
275,622
19,497
61,274
4
881,301
---------
---------
--------
---------
-------
------------
At 30 Apr 2023
524,904
204,560
24,371
62,731
6
816,572
---------
---------
--------
---------
-------
------------
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation to date.
7. DEBTORS
2024
2023
£
£
Trade debtors
155,943
431,806
Other debtors
39,608
29,961
---------
---------
195,551
461,767
---------
---------
8. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
30,564
Trade creditors
249,569
338,807
Corporation tax
33,939
Social security and other taxes
12,669
477
Other creditors
3,862
25,794
---------
---------
300,039
395,642
---------
---------