Registered number
08410741
Kelly's Kennels Ltd
Unaudited Filleted Accounts
29 February 2024
Kelly's Kennels Ltd
Registered number: 08410741
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 120,833 -
Tangible assets 4 104,537 113,717
225,370 113,717
Current assets
Stocks 137,374 90,800
Debtors 5 674,206 810,698
Cash at bank and in hand 1,177,224 1,607,145
1,988,804 2,508,643
Creditors: amounts falling due within one year 6 (131,244) (520,823)
Net current assets 1,857,560 1,987,820
Net assets 2,082,930 2,101,537
Capital and reserves
Called up share capital 2 2
Profit and loss account 2,082,928 2,101,535
Shareholders' funds 2,082,930 2,101,537
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
William Fenney Kelly Fenney
Director Director
Approved by the board on 28 November 2024
Kelly's Kennels Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% Reducing Balance
Fixtures, fittings, tools and equipment 20% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 9
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2023 110,000
Additions 150,000
At 29 February 2024 260,000
Amortisation
At 1 March 2023 110,000
Provided during the year 29,167
At 29 February 2024 139,167
Net book value
At 29 February 2024 120,833
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 March 2023 53,767 116,274 170,041
Additions - 15,605 15,605
At 29 February 2024 53,767 131,879 185,646
Depreciation
At 1 March 2023 35,308 21,016 56,324
Charge for the year 3,646 21,139 24,785
At 29 February 2024 38,954 42,155 81,109
Net book value
At 29 February 2024 14,813 89,724 104,537
At 28 February 2023 18,459 95,258 113,717
5 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 655,687
Directors Account 645,066 155,011
Other debtors 29,140 -
674,206 810,698
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 110,158 482,014
Corporation tax 6,814 19,664
Other taxes and social security costs 3,122 9,646
Other creditors 11,150 9,499
131,244 520,823
7 Controlling party
The directors named in the directors report have been identified as the ultimate controlling party within the company.
8 Other information
Kelly's Kennels Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Brookside Farm
Lady Lane
Croft
Warrington
WA3 7AY
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