REGISTERED NUMBER: 01116598 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

JIM KELLY & COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms N Kelly

S Povey

SECRETARY:

Ms N Kelly

REGISTERED OFFICE:

Church Street Chambers

251 Church Street

Blackpool

Lancashire

FY1 3PB

REGISTERED NUMBER:

01116598 (England and Wales)

ACCOUNTANTS:

Whitehead & Howarth

327 Clifton Drive South

Lytham St Annes

Lancashire

FY8 1HN

FIXED ASSETS

Tangible assets

4

32,871

14,899

CURRENT ASSETS

Debtors

5

500,853

405,889

Cash at bank and in hand

275,007

188,238

775,860

594,127

CREDITORS

Amounts falling due within one year

6

730,786

545,268

NET CURRENT ASSETS

45,074

48,859

TOTAL ASSETS LESS CURRENT LIABILITIES

77,945

63,758

CREDITORS

Amounts falling due after more than one year

7

(26,277

)

(32,308

)

PROVISIONS FOR LIABILITIES

9

(3,766

)

(2,915

)

NET ASSETS

47,902

28,535

CAPITAL AND RESERVES

Called up share capital

19,052

19,052

Retained earnings

28,850

9,483

SHAREHOLDERS' FUNDS

47,902

28,535

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

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

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 11 September 2025 and were signed on its behalf by:

Ms N Kelly - Director

1.	STATUTORY INFORMATION

Jim Kelly & Company 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.

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.

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 etc

-

25% on reducing balance

Fixed assets are stated at their purchase price together with any incidental costs of acquisition.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 8 (2023 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

260,842

Additions

24,639

At 31 December 2024

285,481

DEPRECIATION

At 1 January 2024

245,943

Charge for year

6,667

At 31 December 2024

252,610

NET BOOK VALUE

At 31 December 2024

32,871

At 31 December 2023

14,899

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

443,647

346,690

Other debtors

57,206

59,199

500,853

405,889

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

5,950

5,950

Trade creditors

612,302

463,956

Taxation and social security

39,584

21,532

Other creditors

72,950

53,830

730,786

545,268

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

26,277

32,308

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,477

8,508

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

32,972

33,358

Between one and five years

33,349

56,079

66,321

89,437

9.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

3,766

2,915

Deferred

tax

£

Balance at 1 January 2024

2,915

Provided during year

851

Balance at 31 December 2024

3,766

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

Ms N Kelly

Balance outstanding at start of year

2,971

500

Amounts advanced

-

2,971

Amounts repaid

(2,971

)

(500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

2,971

11.	RELATED PARTY DISCLOSURES

During the period the company paid rent amounting to £30,000 (2023:£26,667) to Nikki Kelly Properties Limited, a company controlled by N Kelly. At the year end Nikki Kelly Properties Limited owed the company £54,667 (2023: £54,667).

12.	ULTIMATE CONTROLLING PARTY

In the directors' opinion N Kelly controls the company.