William Kellett & Sons Ltd 00350893 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is operator of an industrial estate & vehicle hire and sales Digita Accounts Production Advanced 6.30.9574.0 true true 00350893 2023-04-01 2024-03-31 00350893 2024-03-31 00350893 bus:Director3 2024-03-31 00350893 bus:Director4 2024-03-31 00350893 bus:OrdinaryShareClass1 2024-03-31 00350893 bus:PreferenceShareClass1 2024-03-31 00350893 core:RetainedEarningsAccumulatedLosses 2024-03-31 00350893 core:RevaluationReserve 2024-03-31 00350893 core:ShareCapital 2024-03-31 00350893 core:CurrentFinancialInstruments 2024-03-31 00350893 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 00350893 core:Non-currentFinancialInstruments 2024-03-31 00350893 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 00350893 core:FurnitureFittingsToolsEquipment 2024-03-31 00350893 core:MotorVehicles 2024-03-31 00350893 bus:SmallEntities 2023-04-01 2024-03-31 00350893 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 00350893 bus:FilletedAccounts 2023-04-01 2024-03-31 00350893 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 00350893 bus:RegisteredOffice 2023-04-01 2024-03-31 00350893 bus:CompanySecretaryDirector2 2023-04-01 2024-03-31 00350893 bus:Director1 2023-04-01 2024-03-31 00350893 bus:Director3 2023-04-01 2024-03-31 00350893 bus:Director4 2023-04-01 2024-03-31 00350893 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 00350893 bus:PreferenceShareClass1 2023-04-01 2024-03-31 00350893 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00350893 core:FurnitureFittings 2023-04-01 2024-03-31 00350893 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 00350893 core:MotorVehicles 2023-04-01 2024-03-31 00350893 core:PlantMachinery 2023-04-01 2024-03-31 00350893 countries:England 2023-04-01 2024-03-31 00350893 2023-03-31 00350893 core:FurnitureFittingsToolsEquipment 2023-03-31 00350893 core:MotorVehicles 2023-03-31 00350893 2022-04-01 2023-03-31 00350893 2023-03-31 00350893 bus:OrdinaryShareClass1 2023-03-31 00350893 bus:PreferenceShareClass1 2023-03-31 00350893 core:RetainedEarningsAccumulatedLosses 2023-03-31 00350893 core:RevaluationReserve 2023-03-31 00350893 core:ShareCapital 2023-03-31 00350893 core:CurrentFinancialInstruments 2023-03-31 00350893 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 00350893 core:Non-currentFinancialInstruments 2023-03-31 00350893 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 00350893 core:FurnitureFittingsToolsEquipment 2023-03-31 00350893 core:MotorVehicles 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00350893

William Kellett & Sons Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

William Kellett & Sons Ltd

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

William Kellett & Sons Ltd

Company Information

Directors

Mr G Kellett

Mr S G Kellett

Mr J R Kellett

Mr R J Kellett

Company secretary

Mr S G Kellett

Registered office

Security House
Factory Lane Business Park
Penwortham
Preston
Lancashire
PR1 9TD

Accountants

Red Dot Accountants Ltd
15 Olympic Court
Whitehills Business Park
Blackpool
Lancashire
FY4 5GU

 

William Kellett & Sons Ltd

Directors' Report for the Year Ended 31 March 2024

The directors present their report and the financial statements for the year ended 31 March 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr G Kellett

Mr S G Kellett - Company secretary and director

The following directors were appointed after the year end:

Mr J R Kellett (appointed 13 September 2024)

Mr R J Kellett (appointed 13 September 2024)

Principal activity

The principal activity of the company is operator of an industrial estate & vehicle hire and sales

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 12 November 2024 and signed on its behalf by:
 

.........................................
Mr G Kellett
Director

.........................................
Mr S G Kellett
Company secretary and director

 

William Kellett & Sons Ltd

(Registration number: 00350893)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

35,953

26,618

Investment property

5

1,800,000

1,800,000

 

1,835,953

1,826,618

Current assets

 

Stocks

6

62,653

33,956

Debtors

7

41,193

33,937

Cash at bank and in hand

 

289,555

233,520

 

393,401

301,413

Creditors: Amounts falling due within one year

8

(159,983)

(124,755)

Net current assets

 

233,418

176,658

Total assets less current liabilities

 

2,069,371

2,003,276

Creditors: Amounts falling due after more than one year

8

(29,244)

(32,371)

Provisions for liabilities

(123,396)

(121,622)

Net assets

 

1,916,731

1,849,283

Capital and reserves

 

Called up share capital

9

21,606

21,606

Revaluation reserve

1,652,567

1,652,567

Retained earnings

242,558

175,110

Shareholders' funds

 

1,916,731

1,849,283

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 November 2024 and signed on its behalf by:
 

 

William Kellett & Sons Ltd

(Registration number: 00350893)
Balance Sheet as at 31 March 2024

.........................................
Mr G Kellett
Director

.........................................
Mr S G Kellett
Company secretary and director

 

William Kellett & Sons Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Security House
Factory Lane Business Park
Penwortham
Preston
Lancashire
PR1 9TD

These financial statements were authorised for issue by the Board on 12 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises corporation tax and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

William Kellett & Sons Ltd

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

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company.

Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% on reducing balance

Motor vehicles

25% on reducing balance

Portakabins

20% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors The values reflect observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

William Kellett & Sons Ltd

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

90,666

90,353

181,019

Additions

-

20,568

20,568

At 31 March 2024

90,666

110,921

201,587

Depreciation

At 1 April 2023

81,548

72,853

154,401

Charge for the year

1,716

9,517

11,233

At 31 March 2024

83,264

82,370

165,634

Carrying amount

At 31 March 2024

7,402

28,551

35,953

At 31 March 2023

9,118

17,500

26,618

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of freehold land and buildings.
 

5

Investment properties

2024
£

At 1 April

1,800,000

At 31 March

1,800,000

The investment properties were valued by the directors on a current use basis.

There has been no valuation of investment property by an independent valuer.

6

Stocks

2024
£

2023
£

Other inventories

62,653

33,956

 

William Kellett & Sons Ltd

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

7

Debtors

Current

2024
£

2023
£

Trade debtors

34,652

24,115

Prepayments

6,541

9,822

 

41,193

33,937

 

William Kellett & Sons Ltd

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

6,210

8,333

Trade creditors

 

75,660

39,883

Taxation and social security

 

28,175

26,889

Accruals and deferred income

 

29,938

29,650

Other creditors

 

20,000

20,000

 

159,983

124,755

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

16,806

16,806

16,806

16,806

Preference shares of £1 each

4,800

4,800

4,800

4,800

21,606

21,606

21,606

21,606

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

29,244

32,371

Current loans and borrowings

2024
£

2023
£

Bank borrowings

6,210

8,333