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REGISTERED NUMBER: 12452537 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

THE MASTER KEY GROUP LIMITED

THE MASTER KEY GROUP LIMITED (REGISTERED NUMBER: 12452537)






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


THE MASTER KEY GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: B De La Cruz





REGISTERED OFFICE: 18F Peartree Business Center
Ferndown Industrial Estate
Ferndown
Wimborne
Dorset
BH21 7PT





REGISTERED NUMBER: 12452537 (England and Wales)





ACCOUNTANTS: Chorus Accounting Limited
9a & 10a Saxon Square
Christchurch
Dorset
BH23 1QA

THE MASTER KEY GROUP LIMITED (REGISTERED NUMBER: 12452537)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 760 412

CURRENT ASSETS
Debtors 5 47,951 45,234
Cash at bank and in hand 2,080 3,297
50,031 48,531
CREDITORS
Amounts falling due within one year 6 (91,548 ) (44,865 )
NET CURRENT (LIABILITIES)/ASSETS (41,517 ) 3,666
TOTAL ASSETS LESS CURRENT LIABILITIES (40,757 ) 4,078

PROVISIONS FOR LIABILITIES (144 ) (78 )
NET (LIABILITIES)/ASSETS (40,901 ) 4,000

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (40,903 ) 3,998
(40,901 ) 4,000

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.

THE MASTER KEY GROUP LIMITED (REGISTERED NUMBER: 12452537)

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 28 November 2023 and were signed by:





B De La Cruz - Director


THE MASTER KEY GROUP LIMITED (REGISTERED NUMBER: 12452537)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

The Master Key Group Limited 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

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.

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.

THE MASTER KEY GROUP LIMITED (REGISTERED NUMBER: 12452537)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 550
Additions 602
At 28 February 2023 1,152
DEPRECIATION
At 1 March 2022 138
Charge for year 254
At 28 February 2023 392
NET BOOK VALUE
At 28 February 2023 760
At 28 February 2022 412

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 42,563 44,724
Amounts owed by participating interests 281 -
Other debtors 5,107 510
47,951 45,234

Trade debtors and bank loans and overdrafts as at 28 February 2023 include £18,237 (2022 - £10,135) of invoices discounted with recourse.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 18,237 10,135
Trade creditors 12,279 23,006
Taxation and social security 32,312 10,704
Other creditors 28,720 1,020
91,548 44,865

THE MASTER KEY GROUP LIMITED (REGISTERED NUMBER: 12452537)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 18,237 10,135

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
B De La Cruz
Balance outstanding at start of year - -
Amounts advanced 4,722 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,722 -

During the year, the directors charged the business for consulting services provided.
These were charged at market rate. The amounts charged in the period were:

B De La Cruz: £14,674 [2022: £8,500]
N Timms: £18,650 [2022: £2,400]

9. RELATED PARTY DISCLOSURES

During the year consultancy fees were incurred to the business from a close relation to a director. These are deemed to have been charged at arms length. The amounts charged by the related party were:£14,000 [2022: £5,281].

During the year the company provided services to a Net Advisory Zero Board, a company which has a common director being Mr B De La Cruz. The amounts charged were at arms length and totalled £10,821 (2022 - £nil). As at the balance sheet date £281 (2022 - £nil) was owed to The Master Key Group Limited.