Company registration number 04854849 (England and Wales)
KEYACRE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
KEYACRE LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
KEYACRE LIMITED
COMPANY INFORMATION
Directors
Mr J M Cockerton
Mr E Conneely
Secretary
Mr J M Cockerton
Company number
04854849
Business address
Braemar House
Water Lane
Stanstead Mountifitchet
Stanstead
United Kingdom
CM24 8BJ
Registered address
Koshal Associates
Gautam House
Ruislip Manor
Middlesex
HA4 6BP
Accountants
Koshal Associates ( Chartered Accountant)
Koshal Associates
Gautam House
Ruislip Manor
Middlesex
HA4 6BP
KEYACRE LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF KEYACRE LIMITED FOR THE YEAR ENDED 31 AUGUST 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Keyacre Limited for the year ended 31 August 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
It is your duty to ensure that Keyacre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Keyacre Limited. You consider that Keyacre 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 financial statements of Keyacre 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 financial statements.
Koshal Associates ( Chartered Accountant)
19 April 2024
Koshal Associates
Gautam House
1 - 3 Shenley Avenue
Ruislip Manor
Middlesex
HA4 6BP
KEYACRE LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2023
31 August 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
438,408
438,408
Investment properties
4
252,506
252,506
690,914
690,914
Current assets
Debtors
5
5,734
7,641
Cash at bank and in hand
43,614
18,087
49,348
25,728
Creditors: amounts falling due within one year
6
(38,020)
(47,820)
Net current assets/(liabilities)
11,328
(22,092)
Total assets less current liabilities
702,242
668,822
Creditors: amounts falling due after more than one year
7
(29,970)
(49,950)
Net assets
672,272
618,872
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
672,172
618,772
Total equity
672,272
618,872
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
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 year ended 31 August 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 year 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.
KEYACRE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2023
31 August 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 19 April 2024 and are signed on its behalf by:
Mr J M Cockerton
Mr E Conneely
Director
Director
KEYACRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 4 -
1
Accounting policies
Company information
Keyacre Limited is a private company limited by shares incorporated in England and Wales. The registered office is Gautam House, 1 - 3 Shenley Avenue, Ruislip Manor, Middlesex, HA4 6BP.
1.1
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 have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and assets in the course of construction are not depreciated.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
KEYACRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Total
£
Cost
At 1 September 2022 and 31 August 2023
438,408
Depreciation and impairment
At 1 September 2022 and 31 August 2023
Carrying amount
At 31 August 2023
438,408
At 31 August 2022
438,408
4
Investment property
2023
£
Fair value
At 1 September 2022 and 31 August 2023
252,506
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
3,576
3,325
Prepayments and accrued income
2,158
4,316
5,734
7,641
KEYACRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
9,196
Accruals and deferred income
28,824
47,820
38,020
47,820
7
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
29,970
49,950
8
Related party transactions
1. Rent of £39,996 (2022 - £39,996) was received from a Company with common directors.
2. Rent of £20,004 (2022 - £20,004) was received from a Company with common directors.