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REGISTERED NUMBER: 09290852 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Key Lettings and Asset Management Ltd

Key Lettings and Asset Management Ltd (Registered number: 09290852)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Key Lettings and Asset Management Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTOR: J T Crowther





REGISTERED OFFICE: Unit 1 11 Eagle Parade
Buxton
Derbyshire
SK17 6EQ





REGISTERED NUMBER: 09290852 (England and Wales)





ACCOUNTANTS: Guthrie Accountancy Services Ltd
Unit 1
11 Eagle Parade
Buxton
Derbyshire
SK17 6EQ

Key Lettings and Asset Management Ltd (Registered number: 09290852)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,205 4,271
Tangible assets 5 15,630 20,911
18,835 25,182

CURRENT ASSETS
Debtors 6 75,899 60,164
Cash at bank and in hand 78,514 82,301
154,413 142,465
CREDITORS
Amounts falling due within one year 7 63,904 63,316
NET CURRENT ASSETS 90,509 79,149
TOTAL ASSETS LESS CURRENT
LIABILITIES

109,344

104,331

CREDITORS
Amounts falling due after more than one
year

8

35,896

40,705
NET ASSETS 73,448 63,626

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 73,438 63,616
SHAREHOLDERS' FUNDS 73,448 63,626

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 Lettings and Asset Management Ltd (Registered number: 09290852)

Balance Sheet - continued
28 February 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 2 June 2023 and were signed by:





J T Crowther - Director


Key Lettings and Asset Management Ltd (Registered number: 09290852)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Key Lettings and Asset Management 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten 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.
Plant and machinery etc - 33% on cost

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.

Key Lettings and Asset Management Ltd (Registered number: 09290852)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

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 5 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022 4,271
Impairments (1,066 )
At 28 February 2023 3,205
NET BOOK VALUE
At 28 February 2023 3,205
At 28 February 2022 4,271

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022
and 28 February 2023 45,402
DEPRECIATION
At 1 March 2022 24,491
Charge for year 5,281
At 28 February 2023 29,772
NET BOOK VALUE
At 28 February 2023 15,630
At 28 February 2022 20,911

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 18,387 24,239
Other debtors 57,512 35,925
75,899 60,164

Key Lettings and Asset Management Ltd (Registered number: 09290852)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 5,002 4,884
Trade creditors 1 1,048
Taxation and social security 18,106 27,836
Other creditors 40,795 29,548
63,904 63,316

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 35,896 40,705