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Registered Number: 12168035
England and Wales

 

 

 

REDKEYGROUP LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2022

End date: 31 May 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 134,147    133,797 
134,147    133,797 
Current assets      
Cash at bank and in hand 24,189    2,700 
Creditors: amount falling due within one year 4 (168,620)   (150,705)
Net current liabilities (144,431)   (148,005)
 
Total assets less current liabilities (10,284)   (14,208)
Net liabilities (10,284)   (14,208)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (10,384)   (14,308)
Shareholder's funds (10,284)   (14,208)
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 26 January 2024 and were signed on its behalf by:


-------------------------------
Ho Wing (Ken) Chan
Director
1
General Information
REDKEYGROUP LTD is a private company, limited by shares, registered in England and Wales, registration number 12168035, registration address 40 Warkworth Woods, Newcastle Upon Tyne , NE3 5RA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
As with most businesses the company has been impacted by the Coronavirus (Covid-19). Although the total impact is still uncertain the directors believe that it is appropriate to prepare the accounts on a going concern basis.
Turnover
Turnover is the amount charged to tenants in respect of rent.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings Nil Reducing Balance
Computer Equipment 25% Reducing Balance
Improvements to property Nil Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Computer Equipment   Improvements to property   Total
  £   £   £   £
At 01 June 2022 125,523      8,274    133,797 
Additions   441      441 
Disposals      
At 31 May 2023 125,523    441    8,274    134,238 
Depreciation
At 01 June 2022      
Charge for year   91      91 
On disposals      
At 31 May 2023   91      91 
Net book values
Closing balance as at 31 May 2023 125,523    350    8,274    134,147 
Opening balance as at 01 June 2022 125,523      8,274    133,797 


4.

Creditors: amount falling due within one year

2023
£
  2022
£
Bank Loans & Overdrafts 71,110   
Accrued Expenses 1   
Directors' Current Accounts 97,509    150,705 
168,620    150,705 

5.

Directors advances, credits and guarantees

Included in creditors: amounts falling due within one year are amounts owed to Directors of £97,509 (2022 - £150,705).
2