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REGISTERED NUMBER: NI612777 (Northern Ireland)















SEAN&KATHLEEN KERR LTD

Unaudited Financial Statements for the Year Ended 31 August 2024






SEAN&KATHLEEN KERR LTD (REGISTERED NUMBER: NI612777)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SEAN&KATHLEEN KERR LTD

Company Information
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Sean Kerr
Kathleen Kerr





REGISTERED OFFICE: 23 Innishative Road
Carrickmore
Omagh
Co. Tyrone
BT79 9HS





REGISTERED NUMBER: NI612777 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

SEAN&KATHLEEN KERR LTD (REGISTERED NUMBER: NI612777)

Statement of Financial Position
31 AUGUST 2024

2024 2023
Notes £ £
NON-CURRENT ASSETS
Intangible assets 5 - -
Tangible assets 6 443,385 471,266
443,385 471,266

CURRENT ASSETS
Receivables: amounts falling due within
one year

7

41,089

35,135
Prepayments and accrued income 1,508 1,324
Cash at bank 64,501 26,800
107,098 63,259
PAYABLES
Amounts falling due within one year 8 (241,676 ) (180,530 )
NET CURRENT LIABILITIES (134,578 ) (117,271 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

308,807

353,995

PAYABLES
Amounts falling due after more than
one year

9

(16,081

)

(32,731

)

PROVISIONS FOR LIABILITIES (34,579 ) (31,577 )
NET ASSETS 258,147 289,687

CAPITAL AND RESERVES
Called up share capital 10 2 2
Revaluation reserve 11 26,310 26,310
Retained earnings 231,835 263,375
SHAREHOLDERS' FUNDS 258,147 289,687

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

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

SEAN&KATHLEEN KERR LTD (REGISTERED NUMBER: NI612777)

Statement of Financial Position - continued
31 AUGUST 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2025 and were signed on its behalf by:




Sean Kerr - Director



Kathleen Kerr - Director


SEAN&KATHLEEN KERR LTD (REGISTERED NUMBER: NI612777)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

SEAN&KATHLEEN KERR LTD is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements are prepared under the historical cost convention modified when necessary to include the revaluation of certain non-current assets.

The accounting policies detailed below have been applied consistently throughout the year.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property, plant and equipment
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Freehold Property- 0% Straight Line
Plant & Machinery- 15% Reducing Balance
Motor Vehicles- 25% Reducing Balance

The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

SEAN&KATHLEEN KERR LTD (REGISTERED NUMBER: NI612777)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 2024

3. ACCOUNTING POLICIES - continued

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.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Income Statement annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Income Statement when received.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand and deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within current liabilities.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 September 2023
and 31 August 2024 220,996
AMORTISATION
At 1 September 2023
and 31 August 2024 220,996
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

SEAN&KATHLEEN KERR LTD (REGISTERED NUMBER: NI612777)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 2024

6. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£ £ £ £ £
COST
At 1 September 2023 305,070 505,803 - 34,476 845,349
Additions - - 899 - 899
At 31 August 2024 305,070 505,803 899 34,476 846,248
DEPRECIATION
At 1 September 2023 - 371,934 - 2,149 374,083
Charge for year - 20,519 179 8,082 28,780
At 31 August 2024 - 392,453 179 10,231 402,863
NET BOOK VALUE
At 31 August 2024 305,070 113,350 720 24,245 443,385
At 31 August 2023 305,070 133,869 - 32,327 471,266

7. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade receivables 41,089 32,158
VAT - 2,977
41,089 35,135

8. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts 7,997 6,682
Trade payables 5,274 2,509
Taxation & social security 11,818 7,361
Other payables 216,587 163,978
241,676 180,530

9. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2024 2023
£ £
Hire purchase contracts 7,999 15,484
Other payables 8,082 17,247
16,081 32,731

Bank loan balances are secured by the company and contain a fixed charge, a floating charge and a negative pledge. The floating charge covers all the property undertaking of the company.

Hire purchase liabilities are secured against the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
2 ORDINARY 1 2 2

SEAN&KATHLEEN KERR LTD (REGISTERED NUMBER: NI612777)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 2024

11. RESERVES
Revaluation
reserve
£
At 1 September 2023
and 31 August 2024 26,310

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end an amount of £182,619 was owed to the directors. (£149,746 - 2023)