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Company registration number: 11782874
Kemsley & Co (London) Limited
Unaudited filleted financial statements
31 March 2025
Kemsley & Co (London) Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Kemsley & Co (London) Limited
Directors and other information
Directors Christopher Scrivener
Ben G Thomas
Peter R Thomas (Resigned 1 September 2024)
Company number 11782874
Registered office 124-126 Church Hill
Loughton
Essex
IG10 1LH
Business address New Spitalfields Market
3 Sherrin Road
London
E10 5SG
Accountants Pollock Taylor Ltd
Chartered Certified Accountants
124-126 Church Hill
Loughton
Essex
IG10 1LH
Kemsley & Co (London) Limited
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Intangible assets 5 - 82,257
Tangible assets 6 65,734 76,266
_________ _________
65,734 158,523
Current assets
Debtors 7 224,778 299,135
Cash at bank and in hand 732,428 55,656
_________ _________
957,206 354,791
Creditors: amounts falling due
within one year 8 ( 371,142) ( 133,912)
_________ _________
Net current assets 586,064 220,879
_________ _________
Total assets less current liabilities 651,798 379,402
Provisions for liabilities ( 12,489) ( 5,398)
_________ _________
Net assets 639,309 374,004
_________ _________
Capital and reserves
Called up share capital 20,000 20,000
Profit and loss account 619,309 354,004
_________ _________
Shareholders funds 639,309 374,004
_________ _________
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 June 2025 , and are signed on behalf of the board by:
Christopher Scrivener
Director
Company registration number: 11782874
Kemsley & Co (London) Limited
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 124-126 Church Hill, Loughton, Essex, IG10 1LH.
The principal activity of the company is the wholesale distribution of fruit and vegetables.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 20 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 15 (2024: 15 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 April 2024 205,644 205,644
Disposals (205,644) (205,644)
_________ _________
At 31 March 2025 - -
_________ _________
Amortisation
At 1 April 2024 123,387 123,387
Disposals ( 123,387) ( 123,387)
_________ _________
At 31 March 2025 - -
_________ _________
Carrying amount
At 31 March 2025 - -
_________ _________
At 31 March 2024 82,257 82,257
_________ _________
6. Tangible assets
Plant and machinery Total
£ £
Cost
At 1 April 2024 170,171 170,171
Additions 1,070 1,070
_________ _________
At 31 March 2025 171,241 171,241
_________ _________
Depreciation
At 1 April 2024 93,905 93,905
Charge for the year 11,602 11,602
_________ _________
At 31 March 2025 105,507 105,507
_________ _________
Carrying amount
At 31 March 2025 65,734 65,734
_________ _________
At 31 March 2024 76,266 76,266
_________ _________
7. Debtors
2025 2024
£ £
Trade debtors 173,694 150,641
Other debtors 51,084 148,494
_________ _________
224,778 299,135
_________ _________
8. Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors 273,580 114,167
Corporation tax 79,053 -
Social security and other taxes 10,297 11,001
Other creditors 8,212 8,744
_________ _________
371,142 133,912
_________ _________