Company registration number 08032783 (England and Wales)
KENNEDY DUNDAS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
KENNEDY DUNDAS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
KENNEDY DUNDAS LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mrs L A Kitchener
Lord B Dundas
Ms R A F Kennedy
Company number
08032783
Registered office
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
Accountants
TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
KENNEDY DUNDAS LIMITED
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
25,144
27,920
Investments
4
584,491
491,141
609,635
519,061
Current assets
Debtors
5
115,740
79,748
Cash at bank and in hand
138,264
286,641
254,004
366,389
Creditors: amounts falling due within one year
6
(167,386)
(161,832)
Net current assets
86,618
204,557
Total assets less current liabilities
696,253
723,618
Creditors: amounts falling due after more than one year
7
(10,693)
(13,392)
Provisions for liabilities
(13,650)
-
0
Net assets
671,910
710,226
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
671,909
710,225
Total equity
671,910
710,226
KENNEDY DUNDAS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 3 -

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

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 21 October 2024 and are signed on its behalf by:
Ms R A F Kennedy
Director
Company registration number 08032783 (England and Wales)
KENNEDY DUNDAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
1
Accounting policies
Company information

Kennedy Dundas Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Courtyard, Shoreham Road, Upper Beeding, Steyning, West Sussex, BN44 3TN.

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 is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% per annum reducing balance
Motor vehicles
25% per annum reducing balance
1.4
Fixed asset investments

Fixed asset investments, comprising shares in listed companies, are measured at fair value. Realised and unrealised gains and losses are recognised in the profit and loss accounts.

 

1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
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.

KENNEDY DUNDAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially 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.

 

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

 

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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

KENNEDY DUNDAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 6 -
1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

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

2024
2023
Number
Number
2
2
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 May 2023
47,666
36,699
84,365
Additions
4,338
-
0
4,338
At 30 April 2024
52,004
36,699
88,703
Depreciation and impairment
At 1 May 2023
31,357
25,088
56,445
Depreciation charged in the year
4,211
2,903
7,114
At 30 April 2024
35,568
27,991
63,559
Carrying amount
At 30 April 2024
16,436
8,708
25,144
At 30 April 2023
16,309
11,611
27,920
KENNEDY DUNDAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
584,491
491,141
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 May 2023
491,141
Additions
722,789
Valuation changes
43,505
Profit on disposal
16,099
Other movements
(5,804)
Disposals
(683,239)
At 30 April 2024
584,491
Carrying amount
At 30 April 2024
584,491
At 30 April 2023
491,141
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
85,998
50,026
Other debtors
29,742
29,539
115,740
79,565
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
-
0
183
Total debtors
115,740
79,748
KENNEDY DUNDAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases
2,349
2,349
Trade creditors
1,921
2,437
Corporation tax
96,846
96,119
Other taxation and social security
34,176
27,780
Other creditors
28,949
31,147
Accruals and deferred income
3,145
2,000
167,386
161,832
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Hire Purchase
10,693
13,392
8
Called up share capital
2024
2023
£
£
Ordinary share capital
50 Ordinary A Share of 1p each
0.50
0.50
40 Ordinary B Share of 1p each
0.40
0.40
5 Ordinary C Share of 1p each
0.05
0.05
5 Ordinary D Share of 1p each
0.05
0.05
1.00
1.00
9
Non-distributable profits reserve

As at 30 April 2024, £643,305 of the profit reserve is distributable, £28,604 of the profit reserve is non-distributable.

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