Company registration number 04209389 (England and Wales)
KEVIN SHERRATT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
KEVIN SHERRATT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
KEVIN SHERRATT LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
10,521
11,887
Current assets
Debtors
6
465
220
Cash at bank and in hand
92,405
95,141
92,870
95,361
Creditors: amounts falling due within one year
7
(57,575)
(57,026)
Net current assets
35,295
38,335
Total assets less current liabilities
45,816
50,222
Provisions for liabilities
(428)
(342)
Net assets
45,388
49,880
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
45,387
49,879
Total equity
45,388
49,880

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 21 October 2024
K P Sherratt
Director
Company Registration No. 04209389
KEVIN SHERRATT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

Kevin Sherratt Limited is a private company limited by shares incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for services provided relating to the telecommunications industry, net of VAT and trade discounts. Income is recognised in the period to which it relates.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.

 

1.4
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Plant and machinery
25% on reducing balance
Motor vehicles
25% on reducing balance

 

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

KEVIN SHERRATT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
3,318
7,598
Deferred tax
Origination and reversal of timing differences
86
(95)
Total tax charge
3,404
7,503
KEVIN SHERRATT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
2,995
Amortisation and impairment
At 1 May 2023 and 30 April 2024
2,995
Carrying amount
At 30 April 2024
-
0
At 30 April 2023
-
0
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 and 30 April 2024
17,086
Depreciation and impairment
At 1 May 2023
5,199
Depreciation charged in the year
1,366
At 30 April 2024
6,565
Carrying amount
At 30 April 2024
10,521
At 30 April 2023
11,887
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
465
220
7
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
3,306
7,598
Other taxation and social security
121
1,742
Other creditors
54,148
47,686
57,575
57,026
KEVIN SHERRATT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
9
Related party transactions

Included within other creditors is £51,630 (2023: £45,328) owed to the director by the company as at the balance sheet date.

2024-04-302023-05-01false21 October 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityK P SherrattD E Sherrattfalsefalse042093892023-05-012024-04-30042093892024-04-30042093892023-04-3004209389core:OtherPropertyPlantEquipment2024-04-3004209389core:OtherPropertyPlantEquipment2023-04-3004209389core:CurrentFinancialInstrumentscore:WithinOneYear2024-04-3004209389core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3004209389core:CurrentFinancialInstruments2024-04-3004209389core:CurrentFinancialInstruments2023-04-3004209389core:ShareCapital2024-04-3004209389core:ShareCapital2023-04-3004209389core:RetainedEarningsAccumulatedLosses2024-04-3004209389core:RetainedEarningsAccumulatedLosses2023-04-3004209389bus:Director12023-05-012024-04-3004209389core:Goodwill2023-05-012024-04-3004209389core:PlantMachinery2023-05-012024-04-3004209389core:MotorVehicles2023-05-012024-04-30042093892022-05-012023-04-3004209389core:UKTax2023-05-012024-04-3004209389core:UKTax2022-05-012023-04-3004209389core:NetGoodwill2023-04-3004209389core:NetGoodwill2024-04-3004209389core:NetGoodwill2023-04-3004209389core:OtherPropertyPlantEquipment2023-04-3004209389core:OtherPropertyPlantEquipment2023-05-012024-04-3004209389core:WithinOneYear2024-04-3004209389core:WithinOneYear2023-04-3004209389bus:PrivateLimitedCompanyLtd2023-05-012024-04-3004209389bus:SmallCompaniesRegimeForAccounts2023-05-012024-04-3004209389bus:FRS1022023-05-012024-04-3004209389bus:AuditExemptWithAccountantsReport2023-05-012024-04-3004209389bus:CompanySecretary12023-05-012024-04-3004209389bus:FullAccounts2023-05-012024-04-30xbrli:purexbrli:sharesiso4217:GBP