Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31false2022-01-01provision of cleaning services114113truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08169513 2022-01-01 2022-12-31 08169513 2021-01-01 2021-12-31 08169513 2022-12-31 08169513 2021-12-31 08169513 2021-01-01 08169513 c:Director1 2022-01-01 2022-12-31 08169513 d:PlantMachinery 2022-01-01 2022-12-31 08169513 d:PlantMachinery 2022-12-31 08169513 d:PlantMachinery 2021-12-31 08169513 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 08169513 d:MotorVehicles 2022-01-01 2022-12-31 08169513 d:MotorVehicles 2022-12-31 08169513 d:MotorVehicles 2021-12-31 08169513 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 08169513 d:OfficeEquipment 2022-01-01 2022-12-31 08169513 d:OfficeEquipment 2022-12-31 08169513 d:OfficeEquipment 2021-12-31 08169513 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 08169513 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 08169513 d:CurrentFinancialInstruments 2022-12-31 08169513 d:CurrentFinancialInstruments 2021-12-31 08169513 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08169513 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 08169513 d:ShareCapital 2022-12-31 08169513 d:ShareCapital 2021-12-31 08169513 d:RetainedEarningsAccumulatedLosses 2022-12-31 08169513 d:RetainedEarningsAccumulatedLosses 2021-12-31 08169513 c:FRS102 2022-01-01 2022-12-31 08169513 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 08169513 c:FullAccounts 2022-01-01 2022-12-31 08169513 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 08169513 2 2022-01-01 2022-12-31 08169513 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 08169513 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 08169513









KEY ENVIRO SOLUTIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

 
KEY ENVIRO SOLUTIONS LIMITED
REGISTERED NUMBER: 08169513

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
202,336
120,427

Current assets
  

Debtors: amounts falling due within one year
 5 
468,842
570,083

Cash at bank and in hand
 6 
885,997
798,320

  
1,354,839
1,368,403

Creditors: amounts falling due within one year
 7 
(250,701)
(328,492)

Net current assets
  
 
 
1,104,138
 
 
1,039,911

Total assets less current liabilities
  
1,306,474
1,160,338

Provisions for liabilities
  

Deferred tax
  
(30,579)
(1,309)

Net assets
  
1,275,895
1,159,029


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,275,795
1,158,929

  
1,275,895
1,159,029


Page 1

 
KEY ENVIRO SOLUTIONS LIMITED
REGISTERED NUMBER: 08169513
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 October 2023.




Mr P A Openibo
Director


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
KEY ENVIRO SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Key Enviro Solutions Limited ("the Company") is a company limited by shares and incorporated in England and Wales. The address of its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA. 
The principal activity of the Company continued to be that of the provision of cleaning services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
KEY ENVIRO SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in Statement of income and retained earnings using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
KEY ENVIRO SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following annual basis:

Plant and machinery
-
25% on reducing balance
Motor vehicles
-
25% on reducing balance
Office equipment
-
25% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short term debtors are measured at transaction price, less any impairment.

Page 5

 
KEY ENVIRO SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 114 (2021 - 113).

Page 6

 
KEY ENVIRO SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost


At 1 January 2022
166,030
-
24,992
191,022


Additions
7,839
119,573
3,015
130,427



At 31 December 2022

173,869
119,573
28,007
321,449



Depreciation


At 1 January 2022
59,252
-
11,343
70,595


Charge for the year on owned assets
27,337
17,438
3,743
48,518



At 31 December 2022

86,589
17,438
15,086
119,113



Net book value



At 31 December 2022
87,280
102,135
12,921
202,336



At 31 December 2021
106,778
-
13,649
120,427

Page 7

 
KEY ENVIRO SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Debtors

2022
2021
£
£


Trade debtors
255,661
416,324

Amounts owed by group undertakings
39,000
39,000

Other debtors
174,181
114,759

468,842
570,083



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
885,997
798,320



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
42,522
33,813

Corporation tax
35,550
130,812

Other taxation and social security
160,582
154,143

Other creditors
3,047
724

Accruals and deferred income
9,000
9,000

250,701
328,492



8.


Deferred taxation




2022
2021


£

£






At beginning of year
(1,309)
(1,314)


Charged to profit or loss
(29,270)
5



At end of year
(30,579)
(1,309)

Page 8

 
KEY ENVIRO SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
 
8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Accelerated capital allowances
(30,579)
(1,309)


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £34,739 (2021 - £34,828). Contributions totalling £Nil (2021 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


10.


Related party transactions

At the year end, the Company was owed £39,000 (2021 - £39,000) by its parent company.
At the year end, the Company was owed £33,706 
(2021 - £39,728) by a company under common control.


11.


Transactions with directors

During the year, the director had advances from the Company as follows:


2022
2021
£
£



Balance brought forward owed to the company
36,398
387,306

Amounts advanced
148,075
200,417

Amounts repaid
(87,237)
(555,366)

Interest charged
1,683
4,041

Balance carried forward owed to the company
98,919
36,398

During the year, interest was charged on overdrawn balances at HMRC's offical rate of interest.


12.


Ultimate parent undertaking and controlling party

The director is deemed to be the Company's controlling party by virtue of his majority shareholding in the Company's parent company, Key Environmental Solutions (Holdings) Limited, a company incorporated in England and Wales.

 
Page 9