REGISTERED NUMBER:
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SEAN & KATHLEEN KERR LTD |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2019 |
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REGISTERED NUMBER:
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SEAN & KATHLEEN KERR LTD |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2019 |
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SEAN & KATHLEEN KERR LTD (REGISTERED NUMBER: NI612777) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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Company information | 1 |
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Statement of financial position | 2 |
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Notes to the financial statements | 4 |
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SEAN & KATHLEEN KERR LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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Directors: |
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Registered office: |
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Registered number: |
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Accountants: |
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Chartered Accountants |
36-38 Northland Row |
Dungannon |
Co. Tyrone |
BT71 6AP |
SEAN & KATHLEEN KERR LTD (REGISTERED NUMBER: NI612777) |
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STATEMENT OF FINANCIAL POSITION |
31 AUGUST 2019 |
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2019 | 2018 |
Notes | £ | £ |
NON-CURRENT ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Receivables: amounts falling due within
one year |
7 |
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Prepayments and accrued income |
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Cash at bank |
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PAYABLES |
Amounts falling due within one year | 8 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PAYABLES |
Amounts falling due after more than
one year |
9 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Revaluation reserve | 11 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
SEAN & KATHLEEN KERR LTD (REGISTERED NUMBER: NI612777) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 AUGUST 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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SEAN & KATHLEEN KERR LTD (REGISTERED NUMBER: NI612777) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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1. | STATUTORY INFORMATION |
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Sean & Kathleen Kerr Ltd is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The accounts are prepared under the historical cost convention modified when necessary to include |
the revaluation of certain fixed assets. |
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Revenue |
Revenue is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Goodwill |
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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. |
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Property, plant and equipment |
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Freehold property | - |
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Plant and machinery | - |
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Motor vehicles | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income |
Statement, except to the extent that it relates to items recognised in other comprehensive income |
or directly in equity. |
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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 statement of financial position date. |
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SEAN & KATHLEEN KERR LTD (REGISTERED NUMBER: NI612777) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the statement of financial position date. |
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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. |
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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. |
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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. |
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Cash flow statement |
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare |
a Statement of Cash Flows because it is classified as a small company. |
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Hire purchase and leasing commitments |
Property, plant and equipment held under leasing and hire purchases arrangements which transfer |
substantially all the risks and rewards of ownership to the company are capitalised and included in |
the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding |
commitments are recorded as liabilities. Payments in respect of these obligations are treated as |
consisting of capital and interest elements, with interest charged to the Income Statement. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 September 2018 |
and 31 August 2019 |
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AMORTISATION |
At 1 September 2018 |
and 31 August 2019 |
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NET BOOK VALUE |
At 31 August 2019 |
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At 31 August 2018 |
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SEAN & KATHLEEN KERR LTD (REGISTERED NUMBER: NI612777) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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6. | PROPERTY, PLANT AND EQUIPMENT |
Freehold | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2018 |
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Additions |
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Disposals |
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At 31 August 2019 |
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DEPRECIATION |
At 1 September 2018 |
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Charge for year |
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Eliminated on disposal |
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( |
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At 31 August 2019 |
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NET BOOK VALUE |
At 31 August 2019 |
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At 31 August 2018 |
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7. | RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade receivables |
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Other receivables | 3,828 | 5,984 |
VAT |
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8. | PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade payables |
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Taxation and social security |
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Other payables |
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9. | PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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SEAN & KATHLEEN KERR LTD (REGISTERED NUMBER: NI612777) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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9. | PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR - continued |
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Bank loan balances are secured by the company and contain a fixed charge, a floating charge and a |
negative pledge. The floating charge covers all the property undertaking of the company. |
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Hire purchase liabilities are secured against the assets to which they relate. |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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ORDINARY | 1 | 2 | 2 |
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11. | RESERVES |
Revaluation |
reserve |
£ |
At 1 September 2018 |
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Transfer between reserves | ( |
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At 31 August 2019 |
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12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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At the year end an amount of £73,479 was owed to the directors. (£45,136 - 2018) |