Keymesh Limited 02842036 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is the supply of packaging materials Digita Accounts Production Advanced 6.30.9574.0 true true 02842036 2023-02-01 2024-01-31 02842036 2024-01-31 02842036 bus:OrdinaryShareClass1 2024-01-31 02842036 core:CapitalRedemptionReserve 2024-01-31 02842036 core:RetainedEarningsAccumulatedLosses 2024-01-31 02842036 core:ShareCapital 2024-01-31 02842036 core:CurrentFinancialInstruments 2024-01-31 02842036 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 02842036 core:MotorVehicles 2024-01-31 02842036 core:OfficeEquipment 2024-01-31 02842036 core:PlantMachinery 2024-01-31 02842036 bus:SmallEntities 2023-02-01 2024-01-31 02842036 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 02842036 bus:FullAccounts 2023-02-01 2024-01-31 02842036 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 02842036 bus:RegisteredOffice 2023-02-01 2024-01-31 02842036 bus:CompanySecretaryDirector1 2023-02-01 2024-01-31 02842036 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 02842036 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 02842036 core:FurnitureFittings 2023-02-01 2024-01-31 02842036 core:MotorVehicles 2023-02-01 2024-01-31 02842036 core:OfficeEquipment 2023-02-01 2024-01-31 02842036 core:PlantMachinery 2023-02-01 2024-01-31 02842036 countries:EnglandWales 2023-02-01 2024-01-31 02842036 2023-01-31 02842036 core:MotorVehicles 2023-01-31 02842036 core:OfficeEquipment 2023-01-31 02842036 core:PlantMachinery 2023-01-31 02842036 2022-02-01 2023-01-31 02842036 2023-01-31 02842036 bus:OrdinaryShareClass1 2023-01-31 02842036 core:CapitalRedemptionReserve 2023-01-31 02842036 core:RetainedEarningsAccumulatedLosses 2023-01-31 02842036 core:ShareCapital 2023-01-31 02842036 core:CurrentFinancialInstruments 2023-01-31 02842036 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 02842036 core:MotorVehicles 2023-01-31 02842036 core:OfficeEquipment 2023-01-31 02842036 core:PlantMachinery 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02842036

Keymesh Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Keymesh Limited

(Registration number: 02842036)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,443

6,838

Current assets

 

Stocks

5

21,912

74,267

Debtors

6

55,987

76,347

Cash at bank and in hand

 

106,284

160,643

 

184,183

311,257

Creditors: Amounts falling due within one year

7

(93,852)

(143,267)

Net current assets

 

90,331

167,990

Net assets

 

95,774

174,828

Capital and reserves

 

Called up share capital

8

25

100

Capital redemption reserve

75

-

Retained earnings

95,674

174,728

Shareholders' funds

 

95,774

174,828

For the financial year ending 31 January 2024 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.

Approved and authorised by the director on 12 April 2024
 

.........................................
Mr D N Aston
Company secretary and director

 

Keymesh Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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:
Premier Business Centre
Attwood Street
Lye
Stourbridge
West Midlands
DY9 8RY

These financial statements were authorised for issue by the director on 12 April 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 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.

 

Keymesh Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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

Office equipment

25% reducing balance

Fixtures and fittings

15% reducing balance

Plant and machinery

15% reducing balance

Motor vehicles

25% reducing balance

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.

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.

 

Keymesh Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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.

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 1 (2023 - 3).

 

Keymesh Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

10,750

2,531

17,995

31,276

Additions

-

332

-

332

At 31 January 2024

10,750

2,863

17,995

31,608

Depreciation

At 1 February 2023

10,080

633

13,725

24,438

Charge for the year

101

558

1,068

1,727

At 31 January 2024

10,181

1,191

14,793

26,165

Carrying amount

At 31 January 2024

569

1,672

3,202

5,443

At 31 January 2023

670

1,898

4,270

6,838

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

21,912

74,267

6

Debtors

Current

2024
£

2023
£

Trade debtors

55,975

76,347

Other debtors

12

-

 

55,987

76,347

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

67,596

111,921

Taxation and social security

25,005

29,696

Accruals and deferred income

1,251

1,650

93,852

143,267

 

Keymesh Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

25

25

100

100