Company registration number 05410762 (England and Wales)
KEEPGATE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
KEEPGATE LIMITED
COMPANY INFORMATION
Directors
E Abbassian
F Zahab
Secretary
E Abbassian
Company number
05410762
Registered office
Palmers Lodge Swiss Cottage
40 College Crescent
Swiss Cottage
London
NW3 5LB
Accountants
Grunberg & Co Limited
5 Technology Park
Colindeep Lane
Colindale
London
United Kingdom
NW9 6BX
KEEPGATE LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
KEEPGATE LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
928,270
928,670
Current assets
Debtors
4
3,562,988
2,969,558
Cash at bank and in hand
13,026
6,979
3,576,014
2,976,537
Creditors: amounts falling due within one year
5
(300,000)
(1,219,143)
Net current assets
3,276,014
1,757,394
Total assets less current liabilities
4,204,284
2,686,064
Creditors: amounts falling due after more than one year
6
(2,179,638)
(2,461,018)
Net assets
2,024,646
225,046
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
2,024,546
224,946
Total equity
2,024,646
225,046

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

KEEPGATE LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 September 2023 and are signed on its behalf by:
F Zahab
Director
Company Registration No. 05410762
KEEPGATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

Keepgate Limited is a private company limited by shares incorporated in England and Wales. The registered office is Palmers Lodge Swiss Cottage, 40 College Crescent, Swiss Cottage, London, NW3 5LB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

KEEPGATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.5
Employee benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
928,270
928,670
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 April 2022
928,670
Disposals
(400)
At 31 March 2023
928,270
Carrying amount
At 31 March 2023
928,270
At 31 March 2022
928,670
KEEPGATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
3,562,988
2,969,558
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other borrowings
300,000
300,000
Other creditors
-
0
919,143
300,000
1,219,143
6
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Other borrowings
2,179,638
2,461,018
7
Secured debts

Bank loans are secured by debenture over the group undertakings and a related company and fixed and floating

charges over the property owned by the subsidiary and related company,

8
Related party disclosures

Included in other debtors, are amounts of £1,800,000 (2022 - £2,969,558) owed by related companies in which the

directors have material interest, or control.

 

Included in other debtors, are amounts of £1,762,988 (2022 - £919,143 credit) owed by a group company.

2023-03-312022-04-01falseCCH SoftwareCCH Accounts Production 2023.300No description of principal activityF ZahabF ZahabE Abbassianfalse054107622022-04-012023-03-3105410762bus:CompanySecretaryDirector12022-04-012023-03-3105410762bus:Director12022-04-012023-03-3105410762bus:CompanySecretary12022-04-012023-03-3105410762bus:Director22022-04-012023-03-3105410762bus:RegisteredOffice2022-04-012023-03-31054107622023-03-31054107622022-03-3105410762core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3105410762core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3105410762core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3105410762core:Non-currentFinancialInstrumentscore:AfterOneYear2022-03-3105410762core:CurrentFinancialInstruments2023-03-3105410762core:CurrentFinancialInstruments2022-03-3105410762core:ShareCapital2023-03-3105410762core:ShareCapital2022-03-3105410762core:RetainedEarningsAccumulatedLosses2023-03-3105410762core:RetainedEarningsAccumulatedLosses2022-03-31054107622021-04-012022-03-3105410762core:Non-currentFinancialInstruments2023-03-3105410762core:Non-currentFinancialInstruments2022-03-3105410762bus:PrivateLimitedCompanyLtd2022-04-012023-03-3105410762bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3105410762bus:FRS1022022-04-012023-03-3105410762bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3105410762bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP