Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-3172023-01-01falseNo description of principal activity7truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04119879 2023-01-01 2023-12-31 04119879 2022-01-01 2022-12-31 04119879 2023-12-31 04119879 2022-12-31 04119879 c:Director2 2023-01-01 2023-12-31 04119879 c:Director3 2023-01-01 2023-12-31 04119879 c:RegisteredOffice 2023-01-01 2023-12-31 04119879 c:Agent1 2023-01-01 2023-12-31 04119879 d:FurnitureFittings 2023-01-01 2023-12-31 04119879 d:FurnitureFittings 2023-12-31 04119879 d:FurnitureFittings 2022-12-31 04119879 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04119879 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 04119879 d:OtherPropertyPlantEquipment 2023-12-31 04119879 d:OtherPropertyPlantEquipment 2022-12-31 04119879 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04119879 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04119879 d:CurrentFinancialInstruments 2023-12-31 04119879 d:CurrentFinancialInstruments 2022-12-31 04119879 d:Non-currentFinancialInstruments 2023-12-31 04119879 d:Non-currentFinancialInstruments 2022-12-31 04119879 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04119879 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04119879 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 04119879 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 04119879 d:ShareCapital 2023-12-31 04119879 d:ShareCapital 2022-12-31 04119879 d:SharePremium 2023-12-31 04119879 d:SharePremium 2022-12-31 04119879 d:CapitalRedemptionReserve 2023-12-31 04119879 d:CapitalRedemptionReserve 2022-12-31 04119879 d:OtherMiscellaneousReserve 2023-12-31 04119879 d:OtherMiscellaneousReserve 2022-12-31 04119879 d:RetainedEarningsAccumulatedLosses 2023-12-31 04119879 d:RetainedEarningsAccumulatedLosses 2022-12-31 04119879 c:FRS102 2023-01-01 2023-12-31 04119879 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04119879 c:FullAccounts 2023-01-01 2023-12-31 04119879 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04119879 d:WithinOneYear 2023-12-31 04119879 d:WithinOneYear 2022-12-31 04119879 d:BetweenOneFiveYears 2023-12-31 04119879 d:BetweenOneFiveYears 2022-12-31 iso4217:GBP xbrli:pure
Company registration number: 04119879







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


KEYGROVE COMMERCIAL LIMITED






































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KEYGROVE COMMERCIAL LIMITED
 


 
COMPANY INFORMATION


Directors
Mr R Nevines 
Mr A Hancock 




Registered number
04119879



Registered office
Stage Gates House
63/64 The Avenue

Southampton

Hampshire

SO17 1XS




Trading Address
Harbour Lights
Maritime Walk

Ocean Village

Southampton

Hampshire

SO14 3TL






Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX




Bankers
Handelsbanken
3 Carlton Crescent

Southampton

Hampshire

SO15 2EY





 


KEYGROVE COMMERCIAL LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7


 


KEYGROVE COMMERCIAL LIMITED
REGISTERED NUMBER:04119879



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,135
9,851

  
7,135
9,851

Current assets
  

Debtors: amounts falling due within one year
 5 
201,872
112,597

Cash at bank and in hand
  
399,021
231,385

  
600,893
343,982

Creditors: amounts falling due within one year
 6 
(246,798)
(146,504)

Net current assets
  
 
 
354,095
 
 
197,478

Total assets less current liabilities
  
361,230
207,329

Creditors: amounts falling due after more than one year
 7 
(103,084)
(132,485)

Provisions for liabilities
  

Deferred tax
  
(1,623)
(2,270)

  
 
 
(1,623)
 
 
(2,270)

Net assets
  
256,523
72,574

Page 1

 


KEYGROVE COMMERCIAL LIMITED
REGISTERED NUMBER:04119879


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

2023
2022
£
£

Capital and reserves
  

Called up share capital 
  
8,817
9,285

Share premium account
  
36,805
36,805

Capital redemption reserve
  
4,378
3,910

Other reserves (Equity)
  
(132,488)
(159,711)

Profit and loss account
  
339,011
182,285

  
256,523
72,574


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 







Mr R Nevines
Director

Date: 5 April 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


KEYGROVE COMMERCIAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Keygrove Commercial Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page. The Company's principal place of business is Harbour Lights, Maritime Walk, Ocean Village, Southampton  SO14 3TL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have reviewed forecasts for a period in excess of 12 months from the date that the accounts are
released for approval and have formed a reasonable expectation that the Company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance or straight line basis.

Depreciation is provided on the following basis:

Fixtures, Fittings and Equipment
-
25%
Reducing balance
Leasehold improvements
-
20%
Over lease term

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 


KEYGROVE COMMERCIAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 


KEYGROVE COMMERCIAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.11

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).

Page 5

 


KEYGROVE COMMERCIAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Fixtures, Fittings and Equipment
Short leasehold imp
Total

£
£
£



Cost or valuation


At 1 January 2023
67,702
1,700
69,402



At 31 December 2023

67,702
1,700
69,402



Depreciation


At 1 January 2023
58,191
1,360
59,551


Charge for the year on owned assets
2,376
340
2,716



At 31 December 2023

60,567
1,700
62,267



Net book value



At 31 December 2023
7,135
-
7,135



At 31 December 2022
9,511
340
9,851


5.


Debtors

2023
2022
£
£


Trade debtors
186,709
97,178

Prepayments and accrued income
15,163
15,419

201,872
112,597



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
27,009
7,365

Corporation tax
86,497
14,564

Other taxation and social security
63,767
81,302

Other creditors
32,876
31,263

Accruals and deferred income
36,649
12,010

246,798
146,504


Page 6

 


KEYGROVE COMMERCIAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
103,084
132,485

103,084
132,485



8.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
8,000
8,000

Later than 1 year and not later than 5 years
2,000
10,000

10,000
18,000

 
Page 7