REGISTERED NUMBER: |
KELLY'S REMOVALS & TRANSPORT (GUILDFORD) |
LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
REGISTERED NUMBER: |
KELLY'S REMOVALS & TRANSPORT (GUILDFORD) |
LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
KELLY'S REMOVALS & TRANSPORT (GUILDFORD) |
LIMITED (REGISTERED NUMBER: 00606638) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 September 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 10 |
KELLY'S REMOVALS & TRANSPORT (GUILDFORD) |
LIMITED |
COMPANY INFORMATION |
for the year ended 30 September 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Ashbourne House |
The Guildway |
Old Portsmouth Road |
Guildford |
Surrey |
GU3 1LR |
KELLY'S REMOVALS & TRANSPORT (GUILDFORD) |
LIMITED (REGISTERED NUMBER: 00606638) |
BALANCE SHEET |
30 September 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Investments | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
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. |
KELLY'S REMOVALS & TRANSPORT (GUILDFORD) |
LIMITED (REGISTERED NUMBER: 00606638) |
BALANCE SHEET - continued |
30 September 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
KELLY'S REMOVALS & TRANSPORT (GUILDFORD) |
LIMITED (REGISTERED NUMBER: 00606638) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 September 2024 |
1. | STATUTORY INFORMATION |
Kelly's Removals & Transport (Guildford) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Kellys Removal & Transport (Guildford) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover in the prior year represents the net invoiced to group companies in respect of charges incurred on their behalf. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Other income |
Other operating income relates to dividends received from subsidiary companies and bank interest received on deposits. |
Tangible fixed assets |
Tangible assets are stated at cost less accumulated depreciation. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: |
Motor vehicles | - | 25% on reducing balance |
On disposal, the difference between net proceeds and the carrying amount of item sold is recognised in the profit and loss account and is included in administrative expenses. |
Financial instruments |
Financial instruments are classified by directors as basic or non-basic following the conditions on FRS102 Section 11. Basic financial instruments are initially measured at transaction price and subsequently recognised at amortised cost using the effective interest method. The company does not have any financial non-basic instruments. |
KELLY'S REMOVALS & TRANSPORT (GUILDFORD) |
LIMITED (REGISTERED NUMBER: 00606638) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Investments in subsidiary companies and unlisted investments |
Investments in subsidiary companies and unlisted investments are initially recorded at cost, being the fair value of the consideration given and including acquisition costs associated with the investment. The investments are reviewed for impairment on an annual basis and provision is made where there has been a permanent diminution in their value. |
Operating leases |
Rentals paid under operating leases are charged on a straight line basis over the life of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - |
KELLY'S REMOVALS & TRANSPORT (GUILDFORD) |
LIMITED (REGISTERED NUMBER: 00606638) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2024 |
4. | TANGIBLE FIXED ASSETS |
Motor |
vehicles |
£ |
COST |
At 1 October 2023 |
Disposals | ( |
) |
At 30 September 2024 |
DEPRECIATION |
At 1 October 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
5. | FIXED ASSET INVESTMENTS |
2024 | 2023 |
£ | £ |
Shares in group undertakings |
Additional information is as follows: |
Shares in |
group |
undertakings |
£ |
COST |
At 1 October 2023 |
Additions |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
Investments (neither listed nor unlisted) were as follows: |
2024 | 2023 |
£ | £ |
Other investments | - | 10,603 |
Eliminated on disposal | - | (10,603 | ) |
- | - |
KELLY'S REMOVALS & TRANSPORT (GUILDFORD) |
LIMITED (REGISTERED NUMBER: 00606638) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2024 |
5. | FIXED ASSET INVESTMENTS - continued |
During the year, a £90,100 investment was made into two new subsidiaries, Spaceways Storage Limited and George Lambert & Son Limited which have been included within shares in group undertakings. The brought forward balance represents the investment in Kelly's Storage Limited, Kellys Self Storage Limited and Kellys International Limited. |
6. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
Included within other debtors within one year is a corporation tax asset of £Nil (2023: £29,224). |
7. | CURRENT ASSET INVESTMENTS |
2024 | 2023 |
£ | £ |
Unlisted investments | 4,000 | 4,000 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
KELLY'S REMOVALS & TRANSPORT (GUILDFORD) |
LIMITED (REGISTERED NUMBER: 00606638) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2024 |
9. | LEASING AGREEMENTS - continued |
Rentals due in the prior year relate to a motor vehicle where the company held responsibility for the lease. The amounts paid were recharged under a separate informal agreement. |
10. | SECURED DEBTS |
Barclays Bank PLC held a charge over the land at Slyfield Industrial Estate, Guildford and a fixed charge over all assets held by Kellys Removals & Transport Limited. A floating charge is also held over all assets not secured by the fixed charge together with a negative pledge. Following the sale of the land, Barclays still retain a charge over the land which is covered by the cross guarantee noted below. |
There are also cross guarantees and debentures held by Barclays Bank between the entities in the table below. These relate to a debt owed by Henry Walter Martin Limited, a company owned and controlled by The Martin Family Trust of which P R Martin is a beneficiary. |
- Kelly's Removals & Transport (Guildford) Limited | - MB&H Limited |
- Kelly's Storage Limited | - Henry Walter Martin Limited |
- Kellys Self Storage Limited |
11. | RELATED PARTY DISCLOSURES |
Kelly's International Partnership |
P R Martin and G J Hutchinson are partners. |
Included within other debtors is a balance of £Nil owed by Kelly's International Partnership (2023: £16,000). |
MB&H Limited |
Included within amounts owed to group undertakings is a balance of £1,762,756 (2023: £794,772) owed to MB&H Limited, a company of which P R Martin is a shareholder and director. |
Henry Walter Martin Limited |
A company owned and controlled by The Martin Family Trust of which P R Martin is a beneficiary. Henry Walter Martin Limited (HWM) owed the company £823,916 (2023: £818,527) which is included within other debtors, £20,466 (2023: £15,071) is due within one year and £803,450 (2023: £803,450) is due in more than one year. |
The amounts due in more than one year of £803,450, are the balance of loan notes issued to HWM following the sale of the property to in the year. These amounts are subordinated in favour of other loan notes in HWM and are not repayable until these loans have been repaid and as such are shown as a long term debtor. The loan notes attract interest at the Bank of England's base rate but the directors have waived this interest in the current year. |
Kelly's SCCS Limited |
Included within other debtors is a balance of £53,117 owed by Kelly's SCCS Limited, a company of which P R Martin and G J Hutchinson are shareholders and directors. |
Movesecured Limited |
Included within other creditors is a balance of £99 owed to Movesecured Limited, a company of which P R Martin is a shareholder and director. |
Kelly's Removals & Transport (Guildford) Limited has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. This allowed for transactions with members of the group headed Kelly's Removals & Transport (Guildford) Limited not to be disclosed on the grounds that 100% of the voting rights in the company are controlled within the group. |
KELLY'S REMOVALS & TRANSPORT (GUILDFORD) |
LIMITED (REGISTERED NUMBER: 00606638) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2024 |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is P R Martin. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
KELLY'S REMOVALS & TRANSPORT (GUILDFORD) |
LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kelly's Removals & Transport (Guildford) Limited for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Kelly's Removals & Transport (Guildford) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kelly's Removals & Transport (Guildford) Limited and state those matters that we have agreed to state to the Board of Directors of Kelly's Removals & Transport (Guildford) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kelly's Removals & Transport (Guildford) Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Kelly's Removals & Transport (Guildford) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kelly's Removals & Transport (Guildford) Limited. You consider that Kelly's Removals & Transport (Guildford) Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Kelly's Removals & Transport (Guildford) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Director, who obtain access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk. |
Chartered Accountants |
Ashbourne House |
The Guildway |
Old Portsmouth Road |
Guildford |
Surrey |
GU3 1LR |