| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30th June 2025 |
| for |
| James B Kerr Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30th June 2025 |
| for |
| James B Kerr Limited |
| James B Kerr Limited (Registered number: SC265171) |
| Contents of the Financial Statements |
| for the Year Ended 30th June 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 6 |
| James B Kerr Limited |
| Company Information |
| for the Year Ended 30th June 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Dumfries Enterprise Park |
| Heathhall |
| Dumfries |
| DUMFRIESSHIRE |
| DG1 3SJ |
| James B Kerr Limited (Registered number: SC265171) |
| Balance Sheet |
| 30th June 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| James B Kerr Limited (Registered number: SC265171) |
| Balance Sheet - continued |
| 30th June 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| James B Kerr Limited (Registered number: SC265171) |
| Notes to the Financial Statements |
| for the Year Ended 30th June 2025 |
| 1. | STATUTORY INFORMATION |
| James B Kerr Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover 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, of £12,000, being amortised evenly over its estimated useful life of 10 years. |
| The assets are reviewed for impairment if there are any factors that indicate the carrying amount may be impaired. |
| 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. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Amounts written off each asset over the estimated useful life represent cost less residual value. |
| The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| 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. |
| James B Kerr Limited (Registered number: SC265171) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th June 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. |
| Trade debtors |
| Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business. |
| Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties. |
| Trade creditors |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. |
| Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities. |
| Borrowings |
| Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. |
| Provisions and contingencies |
| Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably. |
| Provisions and contingencies |
| Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1st July 2024 |
| and 30th June 2025 |
| AMORTISATION |
| At 1st July 2024 |
| Charge for year |
| At 30th June 2025 |
| NET BOOK VALUE |
| At 30th June 2025 |
| At 30th June 2024 |
| James B Kerr Limited (Registered number: SC265171) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th June 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1st July 2024 |
| Additions |
| At 30th June 2025 |
| DEPRECIATION |
| At 1st July 2024 |
| Charge for year |
| At 30th June 2025 |
| NET BOOK VALUE |
| At 30th June 2025 |
| At 30th June 2024 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| 9. | RELATED PARTY DISCLOSURES |
| At 30th June 2025 the company owed the sum of £79,376 (2024 - £90,105) to Mr J Kerr by way of an interest free directors loan. |