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Company Registration No. 06832745 (England and Wales)
Giles Keyte Limited Unaudited accounts for the year ended 31 January 2024
Giles Keyte Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
19,406 
16,880 
Current assets
Debtors
11,225 
6,206 
Cash at bank and in hand
121,455 
139,081 
132,680 
145,287 
Creditors: amounts falling due within one year
(114,655)
(134,977)
Net current assets
18,025 
10,310 
Total assets less current liabilities
37,431 
27,190 
Provisions for liabilities
Deferred tax
(3,155)
(3,155)
Net assets
34,276 
24,035 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
34,176 
23,935 
Shareholders' funds
34,276 
24,035 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by
G Keyte Director Company Registration No. 06832745
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Giles Keyte Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Giles Keyte Limited is a private company, limited by shares, registered in England and Wales, registration number 06832745. The registered office is Coppice View, 1 Woodcroft Road, Chesham, Bucks, HP5 3JU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance and 10% on cost
Computer equipment
25% on cost
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Giles Keyte Limited Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 February 2023
38,648 
Additions
3,500 
At 31 January 2024
42,148 
Depreciation
At 1 February 2023
21,768 
Charge for the year
974 
At 31 January 2024
22,742 
Net book value
At 31 January 2024
19,406 
At 31 January 2023
16,880 
5
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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