Acorah Software Products - Accounts Production 15.0.600 false true true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 02358577 Mr J J Kenny Mr R Kenny Mrs L F Kenny iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02358577 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2024-05-31 02358577 2023-05-31 02358577 2024-05-31 02358577 2023-06-01 2024-05-31 02358577 frs-core:CurrentFinancialInstruments 2024-05-31 02358577 frs-core:Non-currentFinancialInstruments 2024-05-31 02358577 frs-core:MotorVehicles 2024-05-31 02358577 frs-core:MotorVehicles 2023-06-01 2024-05-31 02358577 frs-core:MotorVehicles 2023-05-31 02358577 frs-core:ShareCapital 2024-05-31 02358577 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 02358577 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 02358577 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 02358577 frs-bus:SmallEntities 2023-06-01 2024-05-31 02358577 frs-bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 02358577 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 02358577 frs-bus:Director1 2023-06-01 2024-05-31 02358577 frs-bus:Director2 2023-06-01 2024-05-31 02358577 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 02358577 frs-countries:EnglandWales 2023-06-01 2024-05-31 02358577 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-05-31 02358577 2022-05-31 02358577 2023-05-31 02358577 2022-06-01 2023-05-31 02358577 frs-core:CurrentFinancialInstruments 2023-05-31 02358577 frs-core:Non-currentFinancialInstruments 2023-05-31 02358577 frs-core:ShareCapital 2023-05-31 02358577 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 02358577
J. & R. Kenny Property Services Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Company Information 1
Accountant's Report 2
Balance Sheet 3—4
Notes to the Financial Statements 5—7
Page 1
Company Information
Directors Mr J J Kenny
Mr R Kenny
Secretary Mrs L F Kenny
Company Number 02358577
Registered Office Hanover Buildings
11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Accountants ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings, 11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
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Page 2
Accountant's Report
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of J. & R. Kenny Property Services Limited For The Year Ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of J. & R. Kenny Property Services Limited For The Year Ended 31 May 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of J. & R. Kenny Property Services Limited , as a body, in accordance with the terms of our engagement letter dated 12 March 2024. Our work has been undertaken solely to prepare for your approval the accounts of J. & R. Kenny Property Services Limited and state those matters that we have agreed to state to the directors of J. & R. Kenny Property Services Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J. & R. Kenny Property Services Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that J. & R. Kenny Property Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of J. & R. Kenny Property Services Limited . You consider that J. & R. Kenny Property Services Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of J. & R. Kenny Property Services Limited . 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 financial statements.
Signed
ERC Accountants and Business Advisers Limited
10 October 2024
ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings, 11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Page 2
Page 3
Balance Sheet
Registered number: 02358577
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,498 1,997
1,498 1,997
CURRENT ASSETS
Stocks 5 1,000 1,000
Debtors 6 88,202 74,107
Cash at bank and in hand 5,491 42,816
94,693 117,923
Creditors: Amounts Falling Due Within One Year 7 (86,055 ) (69,679 )
NET CURRENT ASSETS (LIABILITIES) 8,638 48,244
TOTAL ASSETS LESS CURRENT LIABILITIES 10,136 50,241
Creditors: Amounts Falling Due After More Than One Year 8 (28,241 ) (33,796 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (380 )
NET (LIABILITIES)/ASSETS (18,105 ) 16,065
CAPITAL AND RESERVES
Called up share capital 10 10,000 9,850
Profit and Loss Account (28,105 ) 6,215
SHAREHOLDERS' FUNDS (18,105) 16,065
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For the year ending 31 May 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J J Kenny
Director
10 October 2024
The notes on pages 5 to 7 form part of these financial statements.
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Page 5
Notes to the Financial Statements
1. General Information
J. & R. Kenny Property Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02358577 . The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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'.
2.2. Going Concern Disclosure
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor vehicles 25% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2023: 22)
19 22
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4. Tangible Assets
Motor vehicles
£
Cost
As at 1 June 2023 40,355
As at 31 May 2024 40,355
Depreciation
As at 1 June 2023 38,358
Provided during the period 499
As at 31 May 2024 38,857
Net Book Value
As at 31 May 2024 1,498
As at 1 June 2023 1,997
5. Stocks
2024 2023
£ £
Work in progress 1,000 1,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 51,956 51,671
Prepayments and accrued income 2,226 1,288
Other debtors 33,050 21,148
Deferred tax current asset 970 -
88,202 74,107
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,194 35,077
Bank loans and overdrafts 5,556 5,556
Corporation tax - 6,390
Other taxes and social security 2,224 2,062
VAT 16,081 15,845
Other creditors 45,557 1,170
Accruals and deferred income 3,085 2,995
Directors' loan accounts 3,358 584
86,055 69,679
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 28,241 33,796
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Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 6,019 11,574
9. Secured Creditors
The loans held are 100% secured via the government-backed bounce back loan scheme.
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 9,850
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 2,000 -
At the time the dividend was paid the directors were not aware that there were insufficient profits available for distribution and the directors acknowledge that no further distributions can be made until there are sufficient profits available for that purpose.
12. Related Party Transactions
The following related party transactions were undertaken during the year:
A director of the company introduced amounts totalling £2,887 and withdrew amounts totalling £1,000 (2023: introduced £1,887 withdrew £3,000). At the balance sheet date the amount payable was £2,354 (2023: £467).
A director of the company introduced amounts totalling £2,887 and withdrew amounts totalling £2,000 (2023: introduced £1,887, withdrew £2,000). At the balance sheet date the amount payable was £1,004 (2023: £117).
Dividends were paid to the directors in respect of their shareholdings totalling £2,000 (2023: £Nil).
The aggregate remuneration paid to key management personnel for the year was £54,677 (2023: £46,611).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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