Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01Funeral and related activities2521truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07095620 2023-01-01 2023-12-31 07095620 2022-01-01 2022-12-31 07095620 2023-12-31 07095620 2022-12-31 07095620 c:Director2 2023-01-01 2023-12-31 07095620 d:PlantMachinery 2023-01-01 2023-12-31 07095620 d:PlantMachinery 2023-12-31 07095620 d:PlantMachinery 2022-12-31 07095620 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07095620 d:MotorVehicles 2023-01-01 2023-12-31 07095620 d:MotorVehicles 2023-12-31 07095620 d:MotorVehicles 2022-12-31 07095620 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07095620 d:FurnitureFittings 2023-01-01 2023-12-31 07095620 d:FurnitureFittings 2023-12-31 07095620 d:FurnitureFittings 2022-12-31 07095620 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07095620 d:OfficeEquipment 2023-01-01 2023-12-31 07095620 d:OfficeEquipment 2023-12-31 07095620 d:OfficeEquipment 2022-12-31 07095620 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07095620 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07095620 d:CurrentFinancialInstruments 2023-12-31 07095620 d:CurrentFinancialInstruments 2022-12-31 07095620 d:Non-currentFinancialInstruments 2023-12-31 07095620 d:Non-currentFinancialInstruments 2022-12-31 07095620 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07095620 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07095620 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 07095620 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 07095620 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 07095620 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 07095620 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 07095620 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 07095620 d:ShareCapital 2023-12-31 07095620 d:ShareCapital 2022-12-31 07095620 d:RetainedEarningsAccumulatedLosses 2023-12-31 07095620 d:RetainedEarningsAccumulatedLosses 2022-12-31 07095620 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 07095620 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 07095620 c:FRS102 2023-01-01 2023-12-31 07095620 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07095620 c:FullAccounts 2023-01-01 2023-12-31 07095620 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07095620 2 2023-01-01 2023-12-31 07095620 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 07095620









KEVIN MATTHEWS FUNERAL SERVICE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
KEVIN MATTHEWS FUNERAL SERVICE LIMITED
REGISTERED NUMBER: 07095620

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
193,128
213,759

Current assets
  

Stocks
  
58,321
78,848

Debtors: amounts falling due within one year
 5 
227,201
304,169

Cash at bank and in hand
 6 
139,276
118,318

  
424,798
501,335

Creditors: amounts falling due within one year
 7 
(106,700)
(125,313)

Net current assets
  
 
 
318,098
 
 
376,022

Total assets less current liabilities
  
511,226
589,781

Creditors: amounts falling due after more than one year
 8 
(22,521)
(31,632)

Provisions for liabilities
  

Deferred tax
 10 
(19,961)
(39,342)

Net assets
  
468,744
518,807


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
468,644
518,707

  
468,744
518,807


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
KEVIN MATTHEWS FUNERAL SERVICE LIMITED
REGISTERED NUMBER: 07095620
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2024.




K Matthews
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
KEVIN MATTHEWS FUNERAL SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Kevin Matthews Funeral Service Limited (the 'Company') is a private company limited by shares and incorporated in England and Wales. The Company's registered office is located at Leytonstone House, 3 Hanbury Drive,Leytonstone, London, E11 1GA
The Company's principal business is that of funerals and related activities.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
KEVIN MATTHEWS FUNERAL SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss as incurred.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

The Company contributes to certain employees' pension schemes and the pension charge represents the contributions payable to the schemes. The assets of the schemes are held in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
KEVIN MATTHEWS FUNERAL SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Motor vehicles
-
25%
Fixtures and fittings
-
20%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Page 5

 
KEVIN MATTHEWS FUNERAL SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 25 (2022 - 21).

Page 6

 
KEVIN MATTHEWS FUNERAL SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
47,952
454,511
68,478
51,120
622,061


Additions
971
-
7,861
34,630
43,462


Disposals
-
(32,713)
-
-
(32,713)



At 31 December 2023

48,923
421,798
76,339
85,750
632,810



Depreciation


At 1 January 2023
22,070
312,353
43,894
29,985
408,302


Charge for the year on owned assets
6,583
35,539
5,611
12,052
59,785


Disposals
-
(28,405)
-
-
(28,405)



At 31 December 2023

28,653
319,487
49,505
42,037
439,682



Net book value



At 31 December 2023
20,270
102,311
26,834
43,713
193,128



At 31 December 2022
25,882
142,158
24,584
21,135
213,759

Page 7

 
KEVIN MATTHEWS FUNERAL SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
129,795
210,919

Other debtors
39,500
35,999

Prepayments and accrued income
57,906
57,251

227,201
304,169



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
139,276
118,318



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,648
10,648

Trade creditors
2,334
61,576

Corporation tax
64,688
17,272

Other taxation and social security
18,673
14,208

Other creditors
5,557
17,161

Accruals and deferred income
4,800
4,448

106,700
125,313



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
22,521
31,632


The above loans are secured by the UK government.

Page 8

 
KEVIN MATTHEWS FUNERAL SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,648
10,648

Amounts falling due 1-2 years

Bank loans
10,648
10,648

Amounts falling due 2-5 years

Bank loans
11,873
20,984

33,169
42,280



10.


Deferred taxation




2023


£






At beginning of year
(39,342)


Utilised in year
19,381



At end of year
(19,961)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(19,961)
(39,342)


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £16,920 (2022 - £5,702). Contributions totalling £4,064 (2022 - £1,363) were payable to the fund at the reporting date and are included in creditors.

Page 9

 
KEVIN MATTHEWS FUNERAL SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Related party transactions

Within other creditors is an amount owed to the directors of £1,493 (2022 - £4,923) at the year end.
During the period costs in respect of rent have been incurred totalling £33,800 (
2022 - £43,704) on properties which are owned by the directors personally.

 
Page 10