B. Kerins & Co (Contractors) Limited - Limited company - abbreviated - 11.6
B. Kerins & Co (Contractors) Limited - Limited company - abbreviated - 11.6
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 March 2014 |
| for |
| B. KERINS & CO (CONTRACTORS) LIMITED |
| B. KERINS & CO (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00983286) |
| Contents of the Abbreviated Accounts |
| for the year ended 31 March 2014 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| B. KERINS & CO (CONTRACTORS) LIMITED |
| Company Information |
| for the year ended 31 March 2014 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| BANKERS: |
| B. KERINS & CO (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00983286) |
| Abbreviated Balance Sheet |
| 31 March 2014 |
| 2014 | 2013 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investment property | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
4 |
( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Revaluation reserve |
| Profit and loss account |
| 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. |
| B. KERINS & CO (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00983286) |
| Abbreviated Balance Sheet - continued |
| 31 March 2014 |
| The financial statements were approved by the Board of Directors on |
| B. KERINS & CO (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00983286) |
| Notes to the Abbreviated Accounts |
| for the year ended 31 March 2014 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention as modified by the |
| revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities |
| (effective April 2008). |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax. Sales for construction |
| related activities are billed regularly based on costs incurred at the date of billing. Income derived from |
| property rental is recognised based on the occupancy of the tenant. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes |
| in market value is transferred to a revaluation reserve. |
| Investment property is revalued annually at its open market value in accordance with SSAP 19 Accounting for |
| Investment Properties. The surplus or deficit on revaluation is transferred to a revaluation reserve except where |
| the deficit (or its reversal) on an individual property is considered to be permanent, in which case it is taken to |
| the profit and loss account. |
| No depreciation is provided on investment properties, which is a departure from the requirements of the |
| Companies Act 2006. In the opinion of the directors these properties are held primarily for their investment |
| potential and so their current value is of more significance than any measure of consumption and to depreciate |
| them would not give a true and fair view. The provisions of SSAP 19 in respect of investment properties have |
| therefore been adopted in order to give a true and fair view. If this departure from the Companies Act 2006 had |
| not been made, the profit for the year would have been reduced by depreciation. However, the amount of |
| depreciation cannot reasonably be quantified. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| Cost is defined as the initial purchase price of parts and raw materials, including import duties, handling costs |
| and delivery, together with directs costs of production - labour and consumables, together with an estimated |
| overhead allocation to the labour costs incurred. |
| Net realisable value is the estimated proceeds from the sale of items of stock, less all further costs to be |
| incurred in marketing, selling and distributing the items in question. |
| Work in progress is valued by reference to the stage the work on hand is completed, taking the direct cost of |
| materials and labour and adding a reasonable proportion of overheads applicable to the labour rate usage, less |
| any payments received on account at the cut off date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| B. KERINS & CO (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00983286) |
| Notes to the Abbreviated Accounts - continued |
| for the year ended 31 March 2014 |
| 1. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| 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 the profit and loss account over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2013 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2014 |
| DEPRECIATION |
| At 1 April 2013 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2014 |
| NET BOOK VALUE |
| At 31 March 2014 |
| At 31 March 2013 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 April 2013 |
| Revaluations |
| At 31 March 2014 |
| NET BOOK VALUE |
| At 31 March 2014 |
| At 31 March 2013 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| B. KERINS & CO (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00983286) |
| Notes to the Abbreviated Accounts - continued |
| for the year ended 31 March 2014 |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2014 | 2013 |
| value: | £ | £ |
| Ordinary | £1 |
| 6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The director Mr B Kerins advanced £48,232 to the company as a loan on 6th May 2009. The loan is interest |
| bearing and is being repaid by monthly instalments of £505. At the year end the company owed Mr Kerins |
| £26,087 (2013 - £31,242). |
| During the year the director Mrs M P Kerins received dividends totalling £nil (2013 - £4,637)and the director Mr |
| R F Kerins received dividends totalling £12,910 (2013 - £5,881). |
| 7. | ULTIMATE CONTROLLING PARTY |
| The directors, together with members of their close family control the company by virtue of their combined |
| shareholding. |