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REGISTERED NUMBER: 04549953 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

M.H. KENNEDY AND SON LIMITED

M.H. KENNEDY AND SON LIMITED (REGISTERED NUMBER: 04549953)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M.H. KENNEDY AND SON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S J Kennedy
M H Kennedy
Mrs S M Kennedy





SECRETARY: Mrs S M Kennedy





REGISTERED OFFICE: Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ





REGISTERED NUMBER: 04549953 (England and Wales)





ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

M.H. KENNEDY AND SON LIMITED (REGISTERED NUMBER: 04549953)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 86,126 89,180

CURRENT ASSETS
Stocks 7,627 13,007
Debtors 5 13,212 15,450
Cash at bank and in hand 5,272 11,630
26,111 40,087
CREDITORS
Amounts falling due within one year 6 53,562 57,282
NET CURRENT LIABILITIES (27,451 ) (17,195 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,675

71,985

CREDITORS
Amounts falling due after more than one
year

7

(28,972

)

(45,282

)

PROVISIONS FOR LIABILITIES 9 (16,465 ) (20,409 )
NET ASSETS 13,238 6,294

CAPITAL AND RESERVES
Called up share capital 250 250
Retained earnings 12,988 6,044
SHAREHOLDERS' FUNDS 13,238 6,294

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

M.H. KENNEDY AND SON LIMITED (REGISTERED NUMBER: 04549953)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:




S J Kennedy - Director M H Kennedy - Director




Mrs S M Kennedy - Director


M.H. KENNEDY AND SON LIMITED (REGISTERED NUMBER: 04549953)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

M.H. Kennedy and Son Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentational currency of the financial statements is in Pound Sterling (£) which is rounded to the nearest pound (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents income from agricultural and horticultural services provided which are recognised when the services have been provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - at varying rates on cost
Motor vehicles - at varying rates on cost
Computer equipment - 25% on reducing balance

Tangible fixed assets are initially measured at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are classified by the director as basic or advanced following the conditions in FRS 102 section 11. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


M.H. KENNEDY AND SON LIMITED (REGISTERED NUMBER: 04549953)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 246,104 33,426 1,471 281,001
Additions 5,000 8,295 - 13,295
Disposals (5,147 ) - (301 ) (5,448 )
At 31 March 2024 245,957 41,721 1,170 288,848
DEPRECIATION
At 1 April 2023 169,538 21,125 1,158 191,821
Charge for year 13,627 2,077 75 15,779
Eliminated on disposal (4,594 ) - (284 ) (4,878 )
At 31 March 2024 178,571 23,202 949 202,722
NET BOOK VALUE
At 31 March 2024 67,386 18,519 221 86,126
At 31 March 2023 76,566 12,301 313 89,180

The net book value of tangible fixed assets includes £ 67,401 (2023 - £ 69,575 ) in respect of assets held under hire purchase contracts.

M.H. KENNEDY AND SON LIMITED (REGISTERED NUMBER: 04549953)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,257 12,641
Other debtors 955 2,809
13,212 15,450

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,000 21,019
Hire purchase contracts 14,898 17,696
Trade creditors 10,795 3,905
Taxation and social security 12,729 8,204
Other creditors 8,140 6,458
53,562 57,282

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 8,750 15,745
Hire purchase contracts 20,222 29,537
28,972 45,282

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 14,019
Hire purchase contracts 35,120 47,233
35,120 61,252

The hire purchase contracts are secured against the assets purchased using that finance.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 16,465 20,409

Deferred
tax
£   
Balance at 1 April 2023 20,409
Accelerated capital allowances (3,944 )
Balance at 31 March 2024 16,465