Registered number
00686483
Kenny and Reynolds Limited
Filleted Accounts
30 June 2024
Kenny and Reynolds Limited
Registered number: 00686483
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 15,064 22,450
Current assets
Debtors 4 7,596,785 7,765,780
Cash at bank and in hand 45,371 18,256
7,642,156 7,784,036
Creditors: amounts falling due within one year 5 (9,779,897) (9,783,133)
Net current liabilities (2,137,741) (1,999,097)
Net liabilities (2,122,677) (1,976,647)
Capital and reserves
Called up share capital 3,300 3,300
Capital redempton reserve 700 700
Profit and loss account (2,126,677) (1,980,647)
Shareholders' funds (2,122,677) (1,976,647)
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.
P F Kenny
Director
Approved by the board on 25 March 2025
Kenny and Reynolds Limited
Notes to the Accounts
for the year ended 30 June 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).
Going Concern
The financial statements have been prepared using the going concern basis despite the deficit of £2,120,857 (2023 £1,976,647) on the balance sheet as the immediate parent undertaking, The Kenny Group has agreed to continue to support the company for the foreseeable future.
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.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 12.5% to 25% reducing balance
Fixtures, fittings, tools and equipment over 5 years
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 104,584 89,768 194,352
At 30 June 2024 104,584 89,768 194,352
Depreciation
At 1 July 2023 103,977 67,925 171,902
Charge for the year 106 7,280 7,386
At 30 June 2024 104,083 75,205 179,288
Net book value
At 30 June 2024 501 14,563 15,064
At 30 June 2023 607 21,843 22,450
4 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 7,579,133 7,748,628
Other debtors 17,652 17,152
7,596,785 7,765,780
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 4,660 24,610
Amounts owed to group undertakings and undertakings in which the company has a participating interest 9,760,456 9,733,836
Other taxes and social security costs 9,011 9,571
Other creditors 5,770 15,116
9,779,897 9,783,133
6 Related party transactions 2024 2023
£ £
Kenny Reconstruction Limited
Related party by virtue of common control
During the year there were bank transfers of £230,000 (2023- £210,000) made to Kenny & Reynolds Limited. The company has also been recharged other miscellaneous intercompany recharges of £15,800 (2023 - £35,750).
Amount due from (to) the related party (9,746,276) (9,719,656)
Kenny Properties Limited
Related party by virtue of common control
During the year the company has carried out work to the value of £200,000 (2023 - £200,000) in respect of properties owned by Kenny Properties Limited. Recharges by way of management charges have been made to Kenny Properties Limited amounting to £150,000 (2023 - £150,000).
Amount due from (to) the related party 7,579,133 7,748,628
Kenny and Reynolds Restoration Limited
Related party by virtue of common control
Amount due from (to) the related party (14,180) (14,180)
7 Controlling party
The Kenny Group is this company's controllong part by virtue of its shareholding in the company. The ultimate controlling party is Kenny Holdings Limited. The registered office of both undertakings is the same as the company.
8 Other information
Kenny and Reynolds Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Yard
17 Annette Road
London
N7 6EH
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