Company registration number 14174788 (England and Wales)
KEY TEAGUE INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
KEY TEAGUE INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
KEY TEAGUE INVESTMENTS LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
Notes
£
£
Fixed assets
Investments
3
774,765
Current assets
Debtors
4
350,000
Cash at bank and in hand
100
350,100
Creditors: amounts falling due within one year
5
(1,126,441)
Net current liabilities
(776,341)
Net liabilities
(1,576)
Capital and reserves
Called up share capital
6
100
Profit and loss reserves
(1,676)
Total equity
(1,576)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial Period ended 30 September 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 Period 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.
The financial statements were approved by the board of directors and authorised for issue on 13 March 2024 and are signed on its behalf by:
Daniel John Teague
Director
Company registration number 14174788 (England and Wales)
KEY TEAGUE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
- 2 -
1
Accounting policies
Company information
Key Teague Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Queens Parade, Brownlow Road, London, N11 2DN and the principal place of business is 52-54 Dundas Street, Edinburgh, EH3 6QZ.
1.1
Reporting period
The company was incorporated on 15 June 2022 and its first accounts were extended to 30 September 2023 to match those of other companies in which the directors and shareholders are associated with.
1.2
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. The principal accounting policies adopted are set out below.
1.3
Fixed asset investments
Interests in associates 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.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet 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.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
KEY TEAGUE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2023
Number
Total
3
Fixed asset investments
2023
£
Shares in group undertakings and participating interests
774,765
Movements in fixed asset investments
Shares in associates
£
Cost or valuation
At 15 June 2022
-
Additions
774,765
At 30 September 2023
774,765
Carrying amount
At 30 September 2023
774,765
On the 8 September 2022 Key Teague Investments Limited acquired 50% of the share capital of a company operating in the construction industry.
4
Debtors
2023
Amounts falling due within one year:
£
Other debtors
350,000
In addition to the acquisition of the shares, Key Teague Investments Limited contributed £350,000 towards the running costs of the investee.
5
Creditors: amounts falling due within one year
2023
£
Other creditors
1,126,441
A company in which the directors are also the beneficial owners contributed the funds towards the acquisition of shares and the running costs of the investee.
KEY TEAGUE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
- 4 -
6
Called up share capital
2023
Ordinary share capital
£
Issued and fully paid
Ordinary shares of £1 each
100
7
Ultimate controlling party
The company was controlled throughout the current period by the directors by virtue of the fact that between them, they owned all of the company's issued share capital.