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REGISTERED NUMBER: 12985784 (England and Wales)















Kelmore Limited

Unaudited Financial Statements

for the Year Ended 31 October 2024






Kelmore Limited (Registered number: 12985784)






Contents of the Financial Statements
for the year ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kelmore Limited

Company Information
for the year ended 31 October 2024







DIRECTORS: MD Kelly
R Kelly





REGISTERED OFFICE: The Dell
Berry Way
Chorley
Lancashire
PR7 6RA





REGISTERED NUMBER: 12985784 (England and Wales)





ACCOUNTANTS: McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Kelmore Limited (Registered number: 12985784)

Balance Sheet
31 October 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Tangible assets 4 4,705,994 3,902,022

CURRENT ASSETS
Stocks 5 975,817 259,134
Debtors 6 2,156,613 109,243
Cash at bank 759,820 21,028
3,892,250 389,405
CREDITORS
Amounts falling due within one year 7 3,552,329 5,386,805
NET CURRENT ASSETS/(LIABILITIES) 339,921 (4,997,400 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,045,915

(1,095,378

)

CREDITORS
Amounts falling due after more than one
year

8

6,000,000

-
NET LIABILITIES (954,085 ) (1,095,378 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (954,185 ) (1,095,478 )
SHAREHOLDERS' FUNDS (954,085 ) (1,095,378 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Kelmore Limited (Registered number: 12985784)

Balance Sheet - continued
31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 April 2025 and were signed on its behalf by:




MD Kelly - Director



R Kelly - Director


Kelmore Limited (Registered number: 12985784)

Notes to the Financial Statements
for the year ended 31 October 2024

1. STATUTORY INFORMATION

Kelmore Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£) and the amounts in the financial statements have been rounded to the nearest £1.

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 as modified by the revaluation of certain assets.

Going concern
The company traded profitably during the year following the initial 2-3 year start up phase and at the balance sheet date, the company had net current assets of £339,921 (2023: net current liabilities £4,997,400) and net liabilities of £954,085 (2023: £1,095,378).

Included within this figure are short and long term loans totalling £7,404,186 (2023: £4,984,185) owing to the directors of the company and their immediate family. These loans are secured on the assets of the company following the creation of a charge in December 2023. Subsequent to the year end the directors continued to make further funds available.

The directors have prepared plans and forecasts which cover a period of at least 12 months from the date of approval of the financial statements. These forecasts include these additional funds together with the inflow of funds from working capital management. Taking all of the this into consideration, the directors confirm that the going concern basis remains appropriate for the preparation of the financial statements.

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.
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

No depreciation is provided on the company's long leasehold buildings as the directors consider that the lives of these assets are so long and residual values, based on prices prevailing at the time of acquisition, are sufficiently high that any depreciation would be immaterial. Provision is made in the profit and loss account in the event of any permanent diminution in the value of the properties.

Assets in the course of construction at the reporting date are recognised at cost, which is based on the work done plus other direct costs incurred. No depreciation is charged on these assets until the period in which they are fully brought into use.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Kelmore Limited (Registered number: 12985784)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, which include creditors, accruals, loans and funding, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 10 ) .

Kelmore Limited (Registered number: 12985784)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Assets in
course of Long Plant and
construction leasehold machinery
£ £ £
COST
At 1 November 2023 3,462,091 160,520 169,508
Additions - 84,830 669,771
Disposals - - -
Transfers (3,462,091 ) - 3,462,091
At 31 October 2024 - 245,350 4,301,370
DEPRECIATION
At 1 November 2023 - - 16,285
Charge for year - 4,879 251,919
Eliminated on disposal - - -
At 31 October 2024 - 4,879 268,204
NET BOOK VALUE
At 31 October 2024 - 240,471 4,033,166
At 31 October 2023 3,462,091 160,520 153,223

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST
At 1 November 2023 47,466 72,846 12,697 3,925,128
Additions 122,182 202,294 21,290 1,100,367
Disposals - (6,235 ) - (6,235 )
Transfers - - - -
At 31 October 2024 169,648 268,905 33,987 5,019,260
DEPRECIATION
At 1 November 2023 440 4,595 1,786 23,106
Charge for year 9,291 22,965 2,613 291,667
Eliminated on disposal - (1,507 ) - (1,507 )
At 31 October 2024 9,731 26,053 4,399 313,266
NET BOOK VALUE
At 31 October 2024 159,917 242,852 29,588 4,705,994
At 31 October 2023 47,026 68,251 10,911 3,902,022

5. STOCKS
2024 2023
£ £
Stock 975,817 259,134

Kelmore Limited (Registered number: 12985784)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 1,890,168 3,060
Other debtors 266,445 106,183
2,156,613 109,243

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 1,171,106 268,922
Taxation and social security 332,098 8,787
Other creditors 2,049,125 5,109,096
3,552,329 5,386,805

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Other creditors 6,000,000 -

9. CALLED UP SHARE CAPITAL

During the year the A, B, C and D Ordinary shares were reclassified from £1.00 shares to £0.01 shares and subsequently 425 B shares and 325 C shares were reclassified as E Ordinary shares of £0.01 each.

2024 2023
No £    No £   

A Ordinary shares of £0.01 each 6,000 60.00 - -
A Ordinary shares of £1 each - - 60 60.00
B Ordinary shares of £0.01 each 1,375 13.75 - -
B Ordinary shares of £1 each - - 18 18.00
C Ordinary shares of £0.01 each 1,375 13.75 - -
C Ordinary shares of £1 each - - 17 17.00
D Ordinary shares of £0.01 each 500 5.00 - -
D Ordinary shares of £1 each - - 5 5.00
E Ordinary shares of £0.01 each 750 7.50 - -

10,000 100.00 100 100.00

10. RELATED PARTY DISCLOSURES

In the opinion of the directors the company is controlled by Mr P Kelly, Mrs R Kelly and Mr MD Kelly by virtue of their shareholding in the company.

At the year end certain of the directors had loaned funds to the company totalling £7,404,186 (2023: £4,984,185) which are disclosed within other creditors and which are secured on the assets of the company.