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REGISTERED NUMBER: 12515384 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

P Kelly Projects Ltd

P Kelly Projects Ltd (Registered number: 12515384)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P Kelly Projects Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr P N Kelly
Mrs S M Kelly
Ms G F Kelly





REGISTERED OFFICE: Vero Unit 2B1
Great Brooke Farm
Brooke Lane, Warsash
Southampton
Hampshire
SO31 9FF





REGISTERED NUMBER: 12515384 (England and Wales)





ACCOUNTANTS: Don Roper Accountant Limited
Linden Lea
Allington Lane
West End
Southampton
Hampshire
SO30 3HQ

P Kelly Projects Ltd (Registered number: 12515384)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 76 351

CURRENT ASSETS
Stocks 5 148,647 50,000
Debtors 6 5,734 13,501
Cash at bank 122,643 126,622
277,024 190,123
CREDITORS
Amounts falling due within one year 7 86,457 76,342
NET CURRENT ASSETS 190,567 113,781
TOTAL ASSETS LESS CURRENT
LIABILITIES

190,643

114,132

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 190,543 114,032
SHAREHOLDERS' FUNDS 190,643 114,132

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

P Kelly Projects Ltd (Registered number: 12515384)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:




Mr P N Kelly - Director



Mrs S M Kelly - Director


P Kelly Projects Ltd (Registered number: 12515384)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

P Kelly Projects Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

P Kelly Projects Ltd (Registered number: 12515384)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 833
DEPRECIATION
At 1 April 2023 482
Charge for year 275
At 31 March 2024 757
NET BOOK VALUE
At 31 March 2024 76
At 31 March 2023 351

5. STOCKS
31.3.24 31.3.23
£    £   
Work-in-progress 148,647 50,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 2,800 13,501
VAT 2,934 -
5,734 13,501

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 28,873 560
Corporation tax 47,902 16,639
Social security and other taxes - 2,014
VAT - 3,965
Directors' current accounts 6,504 42,174
Accrued expenses 3,178 10,990
86,457 76,342

P Kelly Projects Ltd (Registered number: 12515384)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 April 2023 114,032
Profit for the year 146,511
Dividends (70,000 )
At 31 March 2024 190,543

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr P N Kelly
Balance outstanding at start of year (41,263 ) (49,287 )
Amounts advanced 72,470 94,117
Amounts repaid (36,800 ) (86,093 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,593 ) (41,263 )

11. RELATED PARTY DISCLOSURES

The company was under the control of Mr P and Mrs S Kelly throughout the current period. Mr P and Mrs S Kelly are the managing directors and majority shareholders.

During the year Mr P Kelly raised invoices personally to the company amounting to £24,000 (2023: £21,600) for the hire of plant and machinery which he owns. .