| KERNEIS ADVISORY LIMITED |
| Notes to the Accounts |
| for the year ended 31 March 2026 |
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| 1 |
Accounting policies |
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Basis of preparation |
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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). |
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Turnover |
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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. |
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Tangible fixed assets |
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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: |
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Artwork |
20% Straight line |
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Office furniture |
33.33% Straight line |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Employees |
2026 |
|
2025 |
| Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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| 3 |
Tangible fixed assets |
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Artwork |
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Office furniture |
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Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 April 2025 |
12,000 |
|
1,165 |
|
13,165 |
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At 31 March 2026 |
12,000 |
|
1,165 |
|
13,165 |
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Depreciation |
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At 1 April 2025 |
9,600 |
|
1,164 |
|
10,764 |
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Charge for the year |
2,399 |
|
- |
|
2,399 |
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At 31 March 2026 |
11,999 |
|
1,164 |
|
13,163 |
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Net book value |
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At 31 March 2026 |
1 |
|
1 |
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2 |
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At 31 March 2025 |
2,400 |
|
1 |
|
2,401 |
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| 4 |
Debtors |
2026 |
|
2025 |
| £ |
£ |
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Trade debtors |
27,483 |
|
47,615 |
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| 5 |
Creditors: amounts falling due within one year |
2026 |
|
2025 |
| £ |
£ |
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Taxation and social security costs |
10,320 |
|
8,650 |
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Other creditors |
1,778 |
|
1,130 |
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12,098 |
|
9,780 |
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Included in creditors is £497 owing to the director. The loan is interest free and there is no fixed |
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date of repayment. The director has confirmed that the loan will only be repaid as and when |
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cash flow permits. |
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| 6 |
Other information |
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KERNEIS ADVISORY LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
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Devonshire House |
|
582 Honeypot Lane |
|
Stanmore |
|
Middlesex |
|
HA7 1JS |