Registration number: NI614109

B J Kelso Limited

(Registration number: NI614109)
Balance Sheet as at 31 January 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	847,878	391,794
Current assets
Stocks	5	166,443	169,948
Debtors	6	52,851	68,389
Other financial assets		5,130	65,130
Cash at bank and in hand		76,629	137,640
		301,053	441,107
Creditors: Amounts falling due within one year	7	(265,768)	(128,276)
Net current assets		35,285	312,831
Total assets less current liabilities		883,163	704,625
Creditors: Amounts falling due after more than one year	7	(141,459)	-
Provisions for liabilities		(50,047)	(57,424)
Net assets		691,657	647,201
Capital and reserves
Called up share capital	8	2	2
Retained earnings		691,655	647,199
Shareholders' funds		691,657	647,201

For the financial year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

B J Kelso Limited

(Registration number: NI614109)
Balance Sheet as at 31 January 2026

Approved and authorised by the director on 16 October 2026
 

......................................... Mr Bryce Kelso Director

B J Kelso Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 81 Tamlaght Road, Upperlands, Maghera, Co. Londonderry, BT56 5XB.

These financial statements were authorised for issue by the director on 16 October 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The Company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

B J Kelso Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% straight line

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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 transaction 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.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

B J Kelso Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2025 - 5).

B J Kelso Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

4	Tangible assets

	Land and buildings £	Entitlements  £	Other tangible assets £	Total £
Cost or valuation
At 1 February 2025	225,459	1,350	706,611	933,420
Additions	494,057	-	27,900	521,957
At 31 January 2026	719,516	1,350	734,511	1,455,377
Depreciation
At 1 February 2025	84,032	-	457,594	541,626
Charge for the year	12,659	-	53,214	65,873
At 31 January 2026	96,691	-	510,808	607,499
Carrying amount
At 31 January 2026	622,825	1,350	223,703	847,878
At 31 January 2025	141,427	1,350	249,017	391,794

5

Stocks

	2026 £	2025 £
Stock	166,443	169,948

6

Debtors

Current	2026 £	2025 £
Trade debtors	43,601	59,477
Other debtors	9,250	8,912
	52,851	68,389

B J Kelso Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

7

Creditors

	2026 £	2025 £
Due within one year
Hire purchase	32,600	-
Other creditors	233,168	128,276
	265,768	128,276
Due after one year
Hire purchase	141,459	-

8	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

9	Related party transactions

The following balance was owed to the director at the year end:

	2026  £	2025  £
Directors current account	137,894	1,688