Registered number
08471084
Key Enterprise Ltd
Report and Accounts
31 May 2023
Key Enterprise Ltd
Report to the director on the preparation of the unaudited statutory accounts of Key Enterprise Ltd for the year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Key Enterprise Ltd for the year ended 31 May 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Coalesco Accountants Limited
Chartered Certified Accountants
156 Russell Drive
Wollaton
Nottingham
NG8 2BE
16 June 2023
Key Enterprise Ltd
Registered number: 08471084
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 162,892 120,280
Current assets
Stocks 145,592 134,433
Debtors 4 9,000 9,000
Cash at bank and in hand 156,289 33,219
310,881 176,652
Creditors: amounts falling due within one year 5 (231,714) (66,924)
Net current assets 79,167 109,728
Net assets 242,059 230,008
Capital and reserves
Called up share capital 100 100
Profit and loss account 241,959 229,908
Shareholders' funds 242,059 230,008
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
H Karimjee
Director
Approved by the board on 16 June 2023
Key Enterprise Ltd
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
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.
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and Fittings 10 year straight line
Office and Computer Equipment 4 year straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 13 13
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2022 210,152 - 210,152
Additions 376 65,838 66,214
At 31 May 2023 210,528 65,838 276,366
Depreciation
At 1 June 2022 89,872 - 89,872
Charge for the year 18,115 5,487 23,602
At 31 May 2023 107,987 5,487 113,474
Net book value
At 31 May 2023 102,541 60,351 162,892
At 31 May 2022 120,280 - 120,280
4 Debtors 2023 2022
£ £
Other debtors 9,000 9,000
5 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 18,616 15,206
Other taxes and social security costs 4,556 23,382
Other creditors 208,542 28,336
231,714 66,924
6 Other information
Key Enterprise Ltd is a private company limited by shares and incorporated in England. Its registered office is:
156 Russell Drive
Wollaton
Nottingham
NG8 2BE
Key Enterprise Ltd 08471084 false 2022-06-01 2023-05-31 2023-05-31 VT Final Accounts April 2022 H Karimjee No description of principal activity 08471084 2021-06-01 2022-05-31 08471084 core:WithinOneYear 2022-05-31 08471084 core:ShareCapital 2022-05-31 08471084 core:RetainedEarningsAccumulatedLosses 2022-05-31 08471084 2022-06-01 2023-05-31 08471084 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 08471084 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 08471084 bus:Director40 2022-06-01 2023-05-31 08471084 core:PlantMachinery 2022-06-01 2023-05-31 08471084 core:Vehicles 2022-06-01 2023-05-31 08471084 countries:England 2022-06-01 2023-05-31 08471084 bus:FRS102 2022-06-01 2023-05-31 08471084 bus:FullAccounts 2022-06-01 2023-05-31 08471084 2023-05-31 08471084 core:WithinOneYear 2023-05-31 08471084 core:ShareCapital 2023-05-31 08471084 core:RetainedEarningsAccumulatedLosses 2023-05-31 08471084 core:PlantMachinery 2023-05-31 08471084 core:Vehicles 2023-05-31 08471084 2022-05-31 08471084 core:PlantMachinery 2022-05-31 08471084 core:Vehicles 2022-05-31 iso4217:GBP xbrli:pure