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REGISTERED NUMBER: 04050257 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Key Projects Ltd

Key Projects Ltd (Registered number: 04050257)






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


Key Projects Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: C S Edwards





SECRETARY: Mrs J P Edwards





REGISTERED OFFICE: Woodlea Cottage
Clehonger
Hereford
Herefordshire
HR2 9TP





REGISTERED NUMBER: 04050257 (England and Wales)





ACCOUNTANTS: R J Francis & Co
Suites 1 & 2
Marshall Business Centre
Faraday Road
Hereford
Herefordshire
HR4 9NS

Key Projects Ltd (Registered number: 04050257)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 106,839 96,776

CURRENT ASSETS
Stocks 180,000 -
Debtors 5 13,720 183,523
Cash at bank 341,936 84,111
535,656 267,634
CREDITORS
Amounts falling due within one year 6 602,229 262,494
NET CURRENT (LIABILITIES)/ASSETS (66,573 ) 5,140
TOTAL ASSETS LESS CURRENT LIABILITIES 40,266 101,916

CREDITORS
Amounts falling due after more than one
year

7

(16,326

)

(18,031

)

PROVISIONS FOR LIABILITIES (20,299 ) (18,388 )
NET ASSETS 3,641 65,497

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 3,639 65,495
3,641 65,497

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.

Key Projects Ltd (Registered number: 04050257)

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 15 November 2023 and were signed by:





C S Edwards - Director


Key Projects Ltd (Registered number: 04050257)

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

1. STATUTORY INFORMATION

Key Projects 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Key Projects Ltd (Registered number: 04050257)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 121,708 58,187 42,386 222,281
Additions 8,163 29,116 - 37,279
At 31 March 2023 129,871 87,303 42,386 259,560
DEPRECIATION
At 1 April 2022 49,678 40,457 35,370 125,505
Charge for year 15,509 10,304 1,403 27,216
At 31 March 2023 65,187 50,761 36,773 152,721
NET BOOK VALUE
At 31 March 2023 64,684 36,542 5,613 106,839
At 31 March 2022 72,030 17,730 7,016 96,776

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,922 176,022
Other debtors 10,798 7,501
13,720 183,523

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 25,333 48,178
Trade creditors 392,885 48,942
Taxation and social security 52,488 59,590
Other creditors 131,523 105,784
602,229 262,494

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 16,326 18,031