Edward Keirby & Co Ltd - Filleted accounts

Registered number

00128371

Edward Keirby & Co Ltd

Filleted Accounts

31 December 2024

Edward Keirby & Co Ltd
Registered number:		00128371
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		7,595			8,840

Current assets
Stocks & work in progress		71,866			39,321
Debtors	4	179,814			237,826
Cash at bank and in hand		70,971			148,502
		322,651			425,649

Creditors: amounts falling due within one year	5	(103,775)			(166,128)

Net current assets			218,876			259,521

Total assets less current liabilities			226,471			268,361

Creditors: amounts falling due after more than one year	6		(7,500)			(17,500)

Provisions for liabilities			(29)			(29)


Net assets			218,942			250,832

Capital and reserves
Called up share capital			3,600			3,600
Share premium			750			750
Capital redemption reserve			500			500
Profit and loss account			214,092			245,982

Shareholders' funds			218,942			250,832

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mrs I Jenkins
Director
Approved by the board on 15 September 2025

Edward Keirby & Co Ltd
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	10% reducing balance
	Computer equipment	25% reducing balance
	Motor vehicles	25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			12		12


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 January 2024	158,525		6,391		164,916
	At 31 December 2024	158,525		6,391		164,916

	Depreciation
	At 1 January 2024	149,749		6,327		156,076
	Charge for the year	1,229		16		1,245
	At 31 December 2024	150,978		6,343		157,321

	Net book value
	At 31 December 2024	7,547		48		7,595
	At 31 December 2023	8,776		64		8,840


4	Debtors			2024		2023
£					£

	Trade debtors			71,094		109,012
	Directors accounts			63,415		79,044
	Other debtors			45,305		49,770
				179,814		237,826


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Bank loans and overdrafts			10,000		10,000
	Trade creditors			18,751		31,427
	Invoice financing			53,498		68,769
	Taxation and social security costs			7,904		23,966
	Other creditors			13,622		31,966
				103,775		166,128

	Metro Bank holds a fixed and floating charge over the assets of the company.


6	Creditors: amounts falling due after one year			2024		2023
£					£

	Bank loans			7,500		17,500


7	Pension commitments

	The company operates a defined contribution pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amount to £3,000 (2023: £3,000). Auto enrolment pension The company operates an auto enrolment pension scheme. The charge represents contributions payable by the company to the fund and administration charges. These amounted to £7,284 (2023: £6,447).


8	Other financial commitments			2024		2023
£					£

	Total future minimum payments under non-cancellable operating leases			34,536		68,114


9	Related party transactions

	The directors drew salaries of £128,464 (2023: £128,464) during the year. Mrs I Jenkins holds a directors loan and the balance at the year end was £-25,835 (2023: £-41,262). Advances of £8,414 and repayments of £23,842 were made during the year. No amounts were written off. This loan is interest free and repayable on demand. Mr RE Jenkins holds a directors loan and the balance at the year end was £-37,580 (2023: £-37,782). Advances of £5,258 and repayments of £5,460 were made during the year. No amounts were written off. This loan is interest free and repayable on demand.


10	Other information

	Edward Keirby & Co Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Vine Works
	Chichester Street
	Rochdale
	OL16 2BG