Keyworker Homes (Macclesfield) Limited 06752802 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is that of developing and selling real estate. Digita Accounts Production Advanced 6.30.9574.0 true 06752802 2022-06-01 2023-05-31 06752802 2023-05-31 06752802 bus:OrdinaryShareClass1 2023-05-31 06752802 core:RetainedEarningsAccumulatedLosses 2023-05-31 06752802 core:ShareCapital 2023-05-31 06752802 core:CurrentFinancialInstruments 2023-05-31 06752802 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 06752802 core:Non-currentFinancialInstruments 2023-05-31 06752802 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 06752802 core:MotorVehicles 2023-05-31 06752802 core:OtherPropertyPlantEquipment 2023-05-31 06752802 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-05-31 06752802 bus:SmallEntities 2022-06-01 2023-05-31 06752802 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 06752802 bus:FullAccounts 2022-06-01 2023-05-31 06752802 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 06752802 bus:RegisteredOffice 2022-06-01 2023-05-31 06752802 bus:Director3 2022-06-01 2023-05-31 06752802 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 06752802 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 06752802 bus:Agent1 2022-06-01 2023-05-31 06752802 core:MotorVehicles 2022-06-01 2023-05-31 06752802 core:OtherPropertyPlantEquipment 2022-06-01 2023-05-31 06752802 core:PlantMachinery 2022-06-01 2023-05-31 06752802 core:KeyManagementPersonnel 2022-06-01 2023-05-31 06752802 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-06-01 2023-05-31 06752802 countries:EnglandWales 2022-06-01 2023-05-31 06752802 2022-05-31 06752802 core:CostValuation 2022-05-31 06752802 core:MotorVehicles 2022-05-31 06752802 core:OtherPropertyPlantEquipment 2022-05-31 06752802 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-05-31 06752802 2021-06-01 2022-05-31 06752802 2022-05-31 06752802 bus:OrdinaryShareClass1 2022-05-31 06752802 core:RetainedEarningsAccumulatedLosses 2022-05-31 06752802 core:ShareCapital 2022-05-31 06752802 core:CurrentFinancialInstruments 2022-05-31 06752802 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 06752802 core:Non-currentFinancialInstruments 2022-05-31 06752802 core:Non-currentFinancialInstruments core:AfterOneYear 2022-05-31 06752802 core:MotorVehicles 2022-05-31 06752802 core:OtherPropertyPlantEquipment 2022-05-31 06752802 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-05-31 06752802 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2021-06-01 2022-05-31 06752802 2021-05-31 06752802 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2021-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06752802

Keyworker Homes (Macclesfield) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

Keyworker Homes (Macclesfield) Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 11

 

Keyworker Homes (Macclesfield) Limited

Company Information

Director

Mr E Bailey

Registered office

187 Breck Road
Poulton-Le-Fylde
Lancashire
FY6 7YU

Accountants

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Keyworker Homes (Macclesfield) Limited
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 Keyworker Homes (Macclesfield) Limited for the year ended 31 May 2023 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Keyworker Homes (Macclesfield) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Keyworker Homes (Macclesfield) Limited and state those matters that we have agreed to state to the Board of Directors of Keyworker Homes (Macclesfield) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Keyworker Homes (Macclesfield) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Keyworker Homes (Macclesfield) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Keyworker Homes (Macclesfield) Limited. You consider that Keyworker Homes (Macclesfield) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Keyworker Homes (Macclesfield) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

19 February 2024

 

Keyworker Homes (Macclesfield) Limited

(Registration number: 06752802)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

62,235

28,914

Investments

5

100,000

100,000

 

162,235

128,914

Current assets

 

Stocks

6

1,342,706

1,106,216

Debtors

7

1,464,808

1,064,136

Cash at bank and in hand

 

1,694

41,657

 

2,809,208

2,212,009

Creditors: Amounts falling due within one year

8

(2,083,941)

(1,663,787)

Net current assets

 

725,267

548,222

Total assets less current liabilities

 

887,502

677,136

Creditors: Amounts falling due after more than one year

8

(84,536)

(44,258)

Provisions for liabilities

(4,497)

-

Net assets

 

798,469

632,878

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

798,468

632,877

Shareholders' funds

 

798,469

632,878

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Keyworker Homes (Macclesfield) Limited

(Registration number: 06752802)
Balance Sheet as at 31 May 2023

Approved and authorised by the director on 19 February 2024
 

.........................................
Mr E Bailey
Director

 

Keyworker Homes (Macclesfield) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
187 Breck Road
Poulton-Le-Fylde
Lancashire
FY6 7YU
United Kingdom

These financial statements were authorised for issue by the director on 19 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Keyworker Homes (Macclesfield) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Keyworker Homes (Macclesfield) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Keyworker Homes (Macclesfield) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2022 - 10).

4

Tangible assets

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 June 2022

50,222

11,988

62,210

Additions

48,300

859

49,159

At 31 May 2023

98,522

12,847

111,369

Depreciation

At 1 June 2022

24,547

8,749

33,296

Charge for the year

13,507

2,331

15,838

At 31 May 2023

38,054

11,080

49,134

Carrying amount

At 31 May 2023

60,468

1,767

62,235

At 31 May 2022

25,675

3,239

28,914

 

Keyworker Homes (Macclesfield) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

5

Investments

2023
£

2022
£

Investments in associates

100,000

100,000

Associates

£

Cost

At 1 June 2022

100,000

Provision

Carrying amount

At 31 May 2023

100,000

At 31 May 2022

100,000

6

Stocks

2023
£

2022
£

Work in progress

1,342,706

1,106,216

7

Debtors

Current

2023
£

2022
£

Trade debtors

841,631

570,055

Prepayments

2,327

3,846

Other debtors

620,850

490,235

 

1,464,808

1,064,136

 

Keyworker Homes (Macclesfield) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

87,690

17,951

Trade creditors

 

1,003,165

819,512

Taxation and social security

 

109,831

484,106

Accruals and deferred income

 

156,000

236,000

Other creditors

 

727,255

106,218

 

2,083,941

1,663,787

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

84,536

44,258

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

         
 

Keyworker Homes (Macclesfield) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

37,125

-

Other borrowings

47,411

44,258

84,536

44,258

2023
£

2022
£

Current loans and borrowings

Bank borrowings

49,500

-

Other borrowings

38,190

17,951

87,690

17,951

11

Related party transactions

Loans from related parties

2023

Key management
£

Total
£

At start of period

144

144

Advanced

41,008

41,008

At end of period

41,152

41,152

2022

Key management
£

Total
£

At start of period

39,307

39,307

Repaid

(39,163)

(39,163)

At end of period

144

144

Terms of loans from related parties

Loans are unsecured and repayable on demand.