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Registered number: 09939207
Doran Kennedy Sales Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Edwards Accountancy Services Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09939207
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 5,000 7,500
Tangible Assets 5 11,321 13,806
16,321 21,306
CURRENT ASSETS
Cash at bank and in hand 8,124 25,152
8,124 25,152
Creditors: Amounts Falling Due Within One Year 6 (2,816 ) (4,746 )
NET CURRENT ASSETS (LIABILITIES) 5,308 20,406
TOTAL ASSETS LESS CURRENT LIABILITIES 21,629 41,712
Creditors: Amounts Falling Due After More Than One Year 7 (22,852 ) (38,694 )
NET (LIABILITIES)/ASSETS (1,223 ) 3,018
CAPITAL AND RESERVES
Called up share capital 8 3 3
Profit and Loss Account (1,226 ) 3,015
SHAREHOLDERS' FUNDS (1,223) 3,018
Page 1
Page 2
For the year ending 31 January 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 Keith Owen
Director
16/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Doran Kennedy Sales Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09939207 . The registered office is 14 Park Brow Drive, Liverpool, L32 6QP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any 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:
Freehold straight line
Motor Vehicles reducing balance
Fixtures & Fittings Reducing Balance
Computer Equipment Reducing balance
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 12,500
As at 31 January 2024 12,500
Amortisation
As at 1 February 2023 5,000
Provided during the period 2,500
As at 31 January 2024 7,500
Net Book Value
As at 31 January 2024 5,000
As at 1 February 2023 7,500
5. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 February 2023 5,602 12,948 1,731 2,057 22,338
As at 31 January 2024 5,602 12,948 1,731 2,057 22,338
Depreciation
As at 1 February 2023 3,050 4,241 567 674 8,532
Provided during the period 459 1,567 210 249 2,485
As at 31 January 2024 3,509 5,808 777 923 11,017
Net Book Value
As at 31 January 2024 2,093 7,140 954 1,134 11,321
As at 1 February 2023 2,552 8,707 1,164 1,383 13,806
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax - 382
Other taxes and social security 185 153
VAT 2,631 4,211
2,816 4,746
Page 4
Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 7,102 21,944
Directors loan account 15,750 16,750
22,852 38,694
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3 3
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