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REGISTERED NUMBER: 03045992















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Keenan Processing Limited

Keenan Processing Limited (Registered number: 03045992)






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


Keenan Processing Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: A Keenan





REGISTERED OFFICE: Eccles Way
Backworth Business Park
Backworth
Newcastle Upon Tyne
Tyne and Wear
NE27 0BN





REGISTERED NUMBER: 03045992






Keenan Processing Limited (Registered number: 03045992)

Balance Sheet
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,915 18,143

CURRENT ASSETS
Stocks 8,000 8,269
Debtors 5 56,132 29,353
Cash at bank 197,430 165,601
261,562 203,223
CREDITORS
Amounts falling due within one year 6 49,279 41,134
NET CURRENT ASSETS 212,283 162,089
TOTAL ASSETS LESS CURRENT
LIABILITIES

220,198

180,232

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 220,098 180,132
SHAREHOLDERS' FUNDS 220,198 180,232

Keenan Processing Limited (Registered number: 03045992)

Balance Sheet - continued
31 March 2023


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.

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 20 November 2023 and were signed by:





A Keenan - Director


Keenan Processing Limited (Registered number: 03045992)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Keenan Processing Limited is a private company, limited by shares , registered in Not specified/Other. 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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
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.

Keenan Processing Limited (Registered number: 03045992)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 17,500 398,180 415,680
DEPRECIATION
At 1 April 2022 17,500 380,037 397,537
Charge for year - 10,228 10,228
At 31 March 2023 17,500 390,265 407,765
NET BOOK VALUE
At 31 March 2023 - 7,915 7,915
At 31 March 2022 - 18,143 18,143

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 44,423 19,019
Other debtors 11,709 10,334
56,132 29,353

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Hire purchase contracts - 4,213
Trade creditors 20,066 16,154
Taxation and social security 12,630 1,865
Other creditors 16,583 18,902
49,279 41,134