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REGISTERED NUMBER: 03387664 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

KEITS TRAINING SERVICES LTD

KEITS TRAINING SERVICES LTD (REGISTERED NUMBER: 03387664)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KEITS TRAINING SERVICES LTD

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTOR: D J Rose





REGISTERED OFFICE: 10 London Mews
Paddington
LONDON
W2 1HY





REGISTERED NUMBER: 03387664 (England and Wales)





ACCOUNTANTS: Stein Richards
Chartered Accountants
10 London Mews
London
W21HY

KEITS TRAINING SERVICES LTD (REGISTERED NUMBER: 03387664)

BALANCE SHEET
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,939 6,057

CURRENT ASSETS
Stocks 128 1,881
Debtors 5 388,409 377,736
Cash at bank 131,582 358,993
520,119 738,610
CREDITORS
Amounts falling due within one year 6 143,615 247,479
NET CURRENT ASSETS 376,504 491,131
TOTAL ASSETS LESS CURRENT
LIABILITIES

380,443

497,188

CREDITORS
Amounts falling due after more than one
year

7

88,636

129,545
NET ASSETS 291,807 367,643

CAPITAL AND RESERVES
Called up share capital 9 46 46
Retained earnings 291,761 367,597
SHAREHOLDERS' FUNDS 291,807 367,643

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

KEITS TRAINING SERVICES LTD (REGISTERED NUMBER: 03387664)

BALANCE SHEET - continued
31 March 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 November 2023 and were signed by:





D J Rose - Director


KEITS TRAINING SERVICES LTD (REGISTERED NUMBER: 03387664)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

KEITS Training Services 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.

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.

Going concern
After reviewing the company's forecasts and projections, the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Turnover represents apprenticeship and traineeship funding together with other related commercial income receivable in the year net of discounts and VAT.

Rendering of services

Revenue for providing services are recognised in the period to which they relate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Short leasehold property - 20% straight line
Patterns and designs - 25% reducing balance
Fixtures and fittings - 15% reducing balance
Computer equipment - 25% straight line

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

Hire purchase and leasing commitments
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2022 - 42 ) .

KEITS TRAINING SERVICES LTD (REGISTERED NUMBER: 03387664)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Short Patterns Fixtures
leasehold and and Computer
property designs fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2022
and 31 March 2023 4,612 7,000 54,324 42,204 108,140
DEPRECIATION
At 1 April 2022 4,196 6,834 49,838 41,215 102,083
Charge for year 415 42 673 988 2,118
At 31 March 2023 4,611 6,876 50,511 42,203 104,201
NET BOOK VALUE
At 31 March 2023 1 124 3,813 1 3,939
At 31 March 2022 416 166 4,486 989 6,057

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 207,382 193,544
Other debtors 181,027 184,192
388,409 377,736

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 40,909 40,910
Trade creditors 26,581 22,529
Taxation and social security 32,331 48,883
Other creditors 43,794 135,157
143,615 247,479

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 88,636 129,545

8. SECURED DEBTS

Lloyds bank holds a fixed and floating charge over the companies assets .

KEITS TRAINING SERVICES LTD (REGISTERED NUMBER: 03387664)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
46 Ordinary £1 46 46

10. OTHER FINANCIAL COMMITMENTS

Operating lease commitments not included in the balance sheet amount to £73,685 (2022 - £140,831).

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
D J Rose
Balance outstanding at start of year 132,854 76,395
Amounts advanced - 98,459
Amounts repaid (4,496 ) (42,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 128,358 132,854

The director has a loan facility of £100,000 with the company and will pay an annual interest charge of 2.5% on the outstanding balance. The loan was repaid in full on 31 October 2023.