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Unaudited Financial Statements for the Year Ended 30 April 2019 |
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Kevin Sumner Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 April 2019 |
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for |
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Kevin Sumner Limited |
Kevin Sumner Limited (Registered number: 07249764) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Kevin Sumner Limited |
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Company Information |
for the Year Ended 30 April 2019 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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1 Pinnacle Way |
Pride Park |
Derby |
Derbyshire |
DE24 8ZS |
Kevin Sumner Limited (Registered number: 07249764) |
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Balance Sheet |
30 April 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director on
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Kevin Sumner Limited (Registered number: 07249764) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2019 |
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1. | STATUTORY INFORMATION |
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Kevin Sumner Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the company's share of the profits of the partnership Shakespeares Martineau. |
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Goodwill |
Purchased goodwill is amortised at rates calculated to write off the assets on a straight line basis over their |
estimated useful economic lives as follows: |
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Goodwill - ten years |
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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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Investment property |
Investment property is shown at the most recent valuation. Any surplus of deficit is deal with via fair value |
reserve. No depreciation is provided in respect of the investment properties. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 May 2018 |
and 30 April 2019 |
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AMORTISATION |
At 1 May 2018 |
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Amortisation for year |
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At 30 April 2019 |
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NET BOOK VALUE |
At 30 April 2019 |
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At 30 April 2018 |
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Goodwill arose on the purchase of the company's share in Marrons Solicitors, which merged with Shakespeares |
Matineau on 1st September 2013. |
Kevin Sumner Limited (Registered number: 07249764) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2019 |
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5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2018 |
and 30 April 2019 |
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NET BOOK VALUE |
At 30 April 2019 |
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At 30 April 2018 |
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Investment property was valued on an open market basis on 30th April 2019 by the director, Mr K Sumner. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Due from Shakespeare Martineau |
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Other debtors | - | 11,400 |
Directors' current accounts | 129,752 | 126,282 |
Section 455 tax |
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Other than as stated under directors loan account above, none of the above amounts related to amounts due from |
the director or shareholder of the company either directly or indirectly. |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Tax |
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Other creditors |
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Accruals and deferred income |
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8. | 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 | 1 | 1 |
Kevin Sumner Limited (Registered number: 07249764) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2019 |
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9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 April 2019 and |
30 April 2018: |
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2019 | 2018 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Interest was charged on the overdrawn director's loan account at HM Revenue & Customs official rate of interest |
during the year being 2.5% per annum. |
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The full loan balance was cleared within nine months of the year end. |
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10. | RELATED PARTY DISCLOSURES |
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The balance outstanding on interest free loans provided from companies with common directors amounted to |
£707,872 (2018: £790,654). |