Kenneth Keegan Funeral Services Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Kenneth Keegan Funeral Services Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC475616 . The registered office is C/O GMH Chartered Accountants, Pavilion 3, Suite 2, St James Business Park, Paisley, PA3 3BB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

2.2. Significant judgements and estimations

The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. The directors are of the opinion that due to the nature of the business, there are no critical accounting estimates of judgements used in the preparation of these financial statements.

2.3. Turnover

Turnover is measured as the value of the consideration received or receivable excluding all taxes in relation to funeral packages provided and vehicle hire services provided.

2.4. Tangible Fixed Assets and Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements	10% on cost
Plant & Machinery	20% on cost and 20% on reducing balance
Motor Vehicles	20% on cost
Fixtures & Fittings	20% on cost

2.5. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

2.6. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

2.7. Financial Instruments

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs.

Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised within profit and loss.

...CONTINUED

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Kenneth Keegan Funeral Services Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

2.7. Financial Instruments - continued

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the assets carrying amount and the present value of estimated future cash flows discounted at the assets original effective interest rate. If a financial asset has a variable interest rate, the discount rate of measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the assets carrying amount and the best estimate of the amount that the company would receive for the asset if it were sold at the balance sheet date.

2.8. 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.

2.9. Pensions

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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 15 (2025: 13)

4. Tangible Assets

	Land & Property
	Improvements	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 May 2025	80,428	305,833	56,548	5,989	448,798
Additions	8,672	47,960	-	1,924	58,556
Disposals	-	(32,770 )	-	-	(32,770 )

As at 30 April 2026	89,100	321,023	56,548	7,913	474,584

Depreciation
As at 1 May 2025	28,070	232,630	2,005	3,309	266,014
Provided during the period	9,164	21,662	11,309	1,278	43,413
Disposals	-	(23,076 )	-	-	(23,076 )

As at 30 April 2026	37,234	231,216	13,314	4,587	286,351

...CONTINUED

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Kenneth Keegan Funeral Services Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

Net Book Value
As at 30 April 2026	51,866	89,807	43,234	3,326	188,233

As at 1 May 2025	52,358	73,203	54,543	2,680	182,784

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2026	2025
	£	£
Plant & Machinery	-	42,907
Motor Vehicles	34,310	43,070

	34,310	85,977

5. Stocks

	2026	2025
	£	£
Stock	23,300	25,500

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	71,376	94,995
Other debtors	194,408	191,096

	265,784	286,091

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	4,302	14,344
Trade creditors	29,709	35,753
Other creditors	28,365	21,804
Taxation and social security	45,208	39,028

	107,584	110,929

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	9,240	13,542

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Kenneth Keegan Funeral Services Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

9. Obligations Under Finance Leases and Hire Purchase

	2026	2025
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	4,302	14,344
Later than one year and not later than five years	9,240	13,542

	13,542	27,886

	13,542	27,886

10. Deferred Taxation

The provision for deferred tax is made up as follows:

	2026	2025
	£	£
Other timing differences	45,517	40,047

11. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 May 2025	40,047	40,047
Deferred taxation	5,470	5,470

Balance at 30 April 2026	45,517	45,517

12. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	102	102

13. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2026	2025
	£	£
Not later than one year	24,000	24,000
Later than one year and not later than five years	62,000	36,000

	86,000	60,000

Lease commitments relates to property lease entered into for a ten year period which had break options at five and seven years. Disclosure of financial commitment within accounts includes up to the end of the lease, previously to the seven year break.

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Kenneth Keegan Funeral Services Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

14. Related Party Transactions

As at the balance sheet date, the amount due from Ross Carriage Masters Limited, a company under common control of the directors, was £173,742 (2025 - £173,742) This balance is included within debtors due after one year.

In the year, the company operated a Director Loan accounts for both directors. As at the year end, the company owed the directors £3 (2025 - £3).

15. Controlling Party

The company's controlling party is Mr K Keegan by virtue of his ownership of the issued share capital in the company.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		188,233		182,784

			188,233		182,784
CURRENT ASSETS
Stocks	5	23,300		25,500
Debtors	6	265,784		286,091
Cash at bank and in hand		420,112		374,874

		709,196		686,465
Creditors: Amounts Falling Due Within One Year	7	(107,584 )		(110,929 )

NET CURRENT ASSETS (LIABILITIES)			601,612		575,536

TOTAL ASSETS LESS CURRENT LIABILITIES			789,845		758,320

Creditors: Amounts Falling Due After More Than One Year	8		(9,240 )		(13,542 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	10		(45,517 )		(40,047 )

NET ASSETS			735,088		704,731

CAPITAL AND RESERVES
Called up share capital	12		102		102
Profit and Loss Account			734,986		704,629

SHAREHOLDERS' FUNDS			735,088		704,731