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Keys Mobile Limited
Registered Number:04443787
For the year ended 31 May 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 May 2024
Keys Mobile Limited
Contents Page
1
Statement of Financial Position
2 to 6
Notes to the Financial Statements
3
Registered Number :
04443787
As at 31 May 2024
Keys Mobile Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Intangible assets
1
1
2
Property, plant and equipment
13,512
16,477
3
13,513
16,478
Current assets
Inventories
25,000
25,000
4
150,060
Cash and cash equivalents
155,109
180,109
175,060
Trade and other payables: amounts falling due within one
year
(65,449)
(74,735)
5
109,611
105,374
Net current assets
Total assets less current liabilities
118,887
126,089
Trade and other payables: amounts falling due after more
than one year
(4,334)
(2,167)
6
(2,400)
(2,900)
Provisions for liabilities
114,320
Net assets
118,855
Capital and reserves
Called up share capital
100
100
Retained earnings
114,220
118,755
114,320
118,855
Shareholders' funds
For the year ended 31 May 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 of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the
end of each financial year and of its profit or loss for each financial year in accordance with the requirements
of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006
relating to financial statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
04443787
For the year ended 31 May 2024
Keys Mobile Limited
Statement of Financial Position Continued
Mr N. Clark Director
These financial statements were approved and authorised for issue by the Board on 30 July 2024 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 May 2024
Keys Mobile Limited
Notes to the Financial Statements
Statutory Information
Keys Mobile Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 04443787.
Registered address:
20 Beacon Road
Wincobank
Sheffield
S9 1AD
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and
the Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Turnover is recognised on the completion of each large contract assignment or small job, in accordance with the contract terms.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 0 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
25% Reducing balance
15% Reducing balance
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Income on work in progress contracts is recognised by reference to the valuation of time spent on each contract, at the year end. Profit on work in progress contracts is recognised when the outcome of the contracts can be assessed with reasonable certainty, and is that amount which is estimated to fairly reflect the profit arising up to the year end. Profit on work in progress contracts is reflected in the profit and loss account as the difference between the reported turnover, and the related costs.
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6
For the year ended 31 May 2024
Keys Mobile Limited
Notes to the Financial Statements Continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of timing differences. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or future profits.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 June 2023
10,000
At 31 May 2024
10,000
Amortisation
At 01 June 2023
9,999
At 31 May 2024
9,999
Net book value
At 31 May 2024
1
At 31 May 2023
1
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7
For the year ended 31 May 2024
Keys Mobile Limited
Notes to the Financial Statements Continued
3. Property, plant and equipment
Total
Fixtures and
fittings
Plant and
machinery
£
£
£
Cost or
valuation
At 01 June 2023
211,930
41,310
170,620
445
445
-
Additions
At 31 May 2024
170,620
41,755
212,375
Provision for depreciation and impairment
At 01 June 2023
195,453
33,544
161,909
Charge for year
3,410
1,232
2,178
At 31 May 2024
198,863
34,776
164,087
At 31 May 2024
Net book value
6,533
6,979
13,512
At 31 May 2023
8,711
7,766
16,477
4. Inventories
2023
2024
£
£
Stocks
25,000
25,000
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft
2,000
1,833
Trade creditors
6,023
8,741
Taxation and social security
28,196
21,084
Other creditors
38,516
33,791
74,735
65,449
6. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
2,167
4,334
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8
For the year ended 31 May 2024
Keys Mobile Limited
Notes to the Financial Statements Continued
7. Related party transactions
The director is also a shareholder of the company. Dividends paid to Mr N Clark, as director and shareholder
of the company, during the year (with the previous year shown in brackets) were £18,000 (£18,000).
8. Average number of persons employed
During the year the average number of employees was 6 (2023 : 7)
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