Keyser Contracting Ltd 09325087 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of agricultural contracting Digita Accounts Production Advanced 6.30.9574.0 true true 09325087 2023-04-01 2024-03-31 09325087 2024-03-31 09325087 core:CurrentFinancialInstruments 2024-03-31 09325087 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09325087 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 09325087 core:OtherPropertyPlantEquipment 2024-03-31 09325087 bus:SmallEntities 2023-04-01 2024-03-31 09325087 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09325087 bus:FilletedAccounts 2023-04-01 2024-03-31 09325087 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09325087 bus:RegisteredOffice 2023-04-01 2024-03-31 09325087 bus:Director1 2023-04-01 2024-03-31 09325087 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09325087 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 09325087 core:PlantMachinery 2023-04-01 2024-03-31 09325087 countries:AllCountries 2023-04-01 2024-03-31 09325087 2023-03-31 09325087 core:OtherPropertyPlantEquipment 2023-03-31 09325087 2022-04-01 2023-03-31 09325087 2023-03-31 09325087 core:CurrentFinancialInstruments 2023-03-31 09325087 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09325087 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 09325087 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09325087

Keyser Contracting Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Keyser Contracting Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Keyser Contracting Ltd

Company Information

Director

Mr Nicholas Keyser

Registration number

09325087

Registered office

21 Market Place
Cirencester
Gloucestershire
GL7 2NX

Accountants

mca Shepherd Smail
21 Market Place
Cirencester
Gloucestershire
GL7 2NX

 

Keyser Contracting Ltd

(Registration number: 09325087)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

737,075

824,793

Current assets

 

Stocks

6

34,884

62,462

Debtors

7

14,778

52,570

 

49,662

115,032

Creditors: Amounts falling due within one year

8

(500,498)

(565,362)

Net current liabilities

 

(450,836)

(450,330)

Total assets less current liabilities

 

286,239

374,463

Creditors: Amounts falling due after more than one year

8

(127,800)

(250,088)

Provisions for liabilities

(76,532)

(93,198)

Net assets

 

81,907

31,177

Capital and reserves

 

Called up share capital

1

1

Retained earnings

81,906

31,176

Shareholders' funds

 

81,907

31,177

 

Keyser Contracting Ltd

(Registration number: 09325087)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

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.

Approved and authorised by the director on 30 July 2024

Mr Nicholas Keyser

Director

 

Keyser Contracting Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
21 Market Place
Cirencester
Gloucestershire
GL7 2NX

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis. Support has been provided by a loan from a director who has indicated that this support will continue for the foreseeable future.

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.

 

Keyser Contracting Ltd

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

Tax

The tax expense for the period comprises deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Plant and machinery

5% reducing balance

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.

 

Keyser Contracting Ltd

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

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

Keyser Contracting Ltd

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

40,701

41,888

 

Keyser Contracting Ltd

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

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

1,253,739

1,253,739

Additions

130,448

130,448

Disposals

(253,314)

(253,314)

At 31 March 2024

1,130,873

1,130,873

Depreciation

At 1 April 2023

428,946

428,946

Charge for the year

40,702

40,702

Eliminated on disposal

(75,850)

(75,850)

At 31 March 2024

393,798

393,798

Carrying amount

At 31 March 2024

737,075

737,075

At 31 March 2023

824,793

824,793

6

Stocks

2024
£

2023
£

Other inventories

34,884

62,462

7

Debtors

Current

2024
£

2023
£

Trade debtors

6,298

25,586

Prepayments

1,617

256

Other debtors

6,863

26,728

 

14,778

52,570

 

Keyser Contracting Ltd

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

172,364

204,123

Trade creditors

 

21,194

73,997

Accruals and deferred income

 

3,680

3,686

Other creditors

 

303,260

283,556

 

500,498

565,362

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

127,258

249,366

Deferred income

 

542

722

 

127,800

250,088

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

A ordinary shares of £0.01 each

75

0.75

75

0.75

B ordinary shares of £0.01 each

25

0.25

25

0.25

 

100

1

100

1