P J Keary Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03041803

P J Keary Limited

Filleted Unaudited Financial Statements

31 December 2024

P J Keary Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	4	532,538	415,493

Current assets

Stocks		6,041	13,661
Debtors	5	989,085	1,072,342
Cash at bank and in hand		2,473,185	2,038,789
		------------	------------
		3,468,311	3,124,792

Creditors: amounts falling due within one year	6	1,103,807	1,239,815
		------------	------------
Net current assets		2,364,504	1,884,977
		------------	------------
Total assets less current liabilities		2,897,042	2,300,470

Creditors: amounts falling due after more than one year	7	48,858	50,839

Provisions	1,105	–
	------------	------------
Net assets	2,847,079	2,249,631
	------------	------------

Capital and reserves

Called up share capital	680	680
Capital redemption reserve	320	320
Profit and loss account	2,846,079	2,248,631
	------------	------------
Shareholders funds	2,847,079	2,249,631
	------------	------------

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.

For the year ending 31 December 2024 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 .

P J Keary Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 24 June 2025 , and are signed on behalf of the board by:

Mr Patrick Keary

Director

Company registration number: 03041803

P J Keary Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 190 Salmon Street, Kingsbury, London, NW9 8NY, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

Revenue recognition

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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Tangible assets

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

Long leasehold property	-	6% straight line
Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	10% reducing balance
Motor vehicles	-	25% reducing balance

	Equipment	-	25 % reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

4. Tangible assets

	Long leasehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2024	386,541	115,724	114,152	933,379	39,893	1,589,689
Additions	230,196	–	1,000	5,941	5,862	242,999
Disposals	–	–	–	( 36,492)	–	( 36,492)
	---------	---------	---------	---------	--------	------------
At 31 Dec 2024	616,737	115,724	115,152	902,828	45,755	1,796,196
	---------	---------	---------	---------	--------	------------
Depreciation
At 1 Jan 2024	386,541	115,367	92,603	555,129	24,556	1,174,196
Charge for the year	13,812	357	2,255	93,647	5,299	115,370
Disposals	–	–	–	( 25,908)	–	( 25,908)
	---------	---------	---------	---------	--------	------------
At 31 Dec 2024	400,353	115,724	94,858	622,868	29,855	1,263,658
	---------	---------	---------	---------	--------	------------
Carrying amount
At 31 Dec 2024	216,384	–	20,294	279,960	15,900	532,538
	---------	---------	---------	---------	--------	------------
At 31 Dec 2023	–	357	21,549	378,250	15,337	415,493
	---------	---------	---------	---------	--------	------------

5. Debtors

	2024	2023
	£	£
Trade debtors	592,878	773,980
Other debtors	396,207	298,362
	---------	------------
	989,085	1,072,342
	---------	------------

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	1,800	2,401
Trade creditors	907,490	1,079,256
Social security and other taxes	140,400	75,353
Rent Deposit	8,050	16,416
Other creditors	46,067	66,389
	------------	------------
	1,103,807	1,239,815
	------------	------------

7. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Other creditors	48,858	50,839
	--------	--------

8. Related party transactions

P J Keary Limited and P J Keary Holdings Limited are related to each other by virtue of common directorship and shareholding. As at year end P J Keary Holdings Limited owed £271,680 to P J Keary Limited .