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REGISTERED NUMBER: 08291855 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

KEY WEST PEST CONTROL (MIDLANDS) LTD

KEY WEST PEST CONTROL (MIDLANDS) LTD (REGISTERED NUMBER: 08291855)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KEY WEST PEST CONTROL (MIDLANDS) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: S A Warden
Mrs C Warden





REGISTERED OFFICE: 29 Arboretum Street
Nottingham
Nottinghamshire
NG1 4JA





REGISTERED NUMBER: 08291855 (England and Wales)





ACCOUNTANTS: Lemans
29 Arboretum Street
Nottingham
Nottinghamshire
NG1 4JA

KEY WEST PEST CONTROL (MIDLANDS) LTD (REGISTERED NUMBER: 08291855)

BALANCE SHEET
31 DECEMBER 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 81,170 66,174
Investments 6 2,675 2,375
83,845 68,549

CURRENT ASSETS
Stocks 34,731 23,490
Debtors 7 103,660 86,090
Cash at bank and in hand 250,380 226,270
388,771 335,850
CREDITORS
Amounts falling due within one year 8 135,955 132,698
NET CURRENT ASSETS 252,816 203,152
TOTAL ASSETS LESS CURRENT
LIABILITIES

336,661

271,701

CREDITORS
Amounts falling due after more than one
year

9

(97,598

)

(86,128

)

PROVISIONS FOR LIABILITIES (16,577 ) (12,429 )
NET ASSETS 222,486 173,144

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 222,386 173,044
SHAREHOLDERS' FUNDS 222,486 173,144

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

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.

KEY WEST PEST CONTROL (MIDLANDS) LTD (REGISTERED NUMBER: 08291855)

BALANCE SHEET - continued
31 DECEMBER 2022


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by:





S A Warden - Director


KEY WEST PEST CONTROL (MIDLANDS) LTD (REGISTERED NUMBER: 08291855)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Key West Pest Control (Midlands) Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets
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.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


KEY WEST PEST CONTROL (MIDLANDS) LTD (REGISTERED NUMBER: 08291855)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued
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.

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

Investments
Investments are included in the balance sheet at their fair value, fair value is considered to be open market value. Gains and losses are recognized in the profit and loss account when they arise, which are transferred net of deferred tax to the fair value reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2021 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 December 2022 6,000
AMORTISATION
At 1 January 2022
and 31 December 2022 6,000
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 -

KEY WEST PEST CONTROL (MIDLANDS) LTD (REGISTERED NUMBER: 08291855)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2022 104,738 8,700 113,438
Additions 55,067 423 55,490
Disposals (37,748 ) - (37,748 )
At 31 December 2022 122,057 9,123 131,180
DEPRECIATION
At 1 January 2022 43,402 3,862 47,264
Charge for year 25,742 1,316 27,058
Eliminated on disposal (24,312 ) - (24,312 )
At 31 December 2022 44,832 5,178 50,010
NET BOOK VALUE
At 31 December 2022 77,225 3,945 81,170
At 31 December 2021 61,336 4,838 66,174

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2022 73,840
Additions 55,067
Disposals (6,850 )
At 31 December 2022 122,057
DEPRECIATION
At 1 January 2022 22,087
Charge for year 25,742
Eliminated on disposal (2,997 )
At 31 December 2022 44,832
NET BOOK VALUE
At 31 December 2022 77,225
At 31 December 2021 51,753

KEY WEST PEST CONTROL (MIDLANDS) LTD (REGISTERED NUMBER: 08291855)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2022 2,375
Revaluations 300
At 31 December 2022 2,675
NET BOOK VALUE
At 31 December 2022 2,675
At 31 December 2021 2,375

Cost or valuation at 31 December 2022 is represented by:

Other
investments
£   
Valuation in 2022 2,675

If investments had not been revalued they would have been included at the following historical cost:

31.12.22 31.12.21
£    £   
Cost 16,663 16,663

Fixed asset investments were valued on an open market basis on 31 December 2022 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 97,275 82,087
Other debtors 1,889 2,238
Prepayments 4,496 1,765
103,660 86,090

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts 9,849 9,606
Hire purchase contracts (see note 10) 25,873 16,322
Trade creditors 25,340 45,513
Corporation tax 12,059 4,418
Social security and other taxes 40,743 37,216
Directors' current accounts 1,066 1,065
Accrued expenses 21,025 18,558
135,955 132,698

KEY WEST PEST CONTROL (MIDLANDS) LTD (REGISTERED NUMBER: 08291855)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Bank loans 26,616 36,461
Hire purchase contracts (see note 10) 70,982 49,667
97,598 86,128

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.22 31.12.21
£    £   
Net obligations repayable:
Within one year 25,873 16,322
Between one and five years 70,982 49,667
96,855 65,989

11. SECURED DEBTS

The following secured debts are included within creditors:

31.12.22 31.12.21
£    £   
Hire purchase contracts 96,855 65,989

Hire purchase creditors are secured on the assets concerned.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
100 Ordinary £1 100 100