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REGISTERED NUMBER: 06168252 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Key Security (UK) Ltd

Key Security (UK) Ltd (Registered number: 06168252)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Key Security (UK) Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: K Montgomery





REGISTERED OFFICE: RCM Business Centres
Sandbeds Trading Estate
Dewsbury Road
Ossett
West Yorkshire
WF5 9ND





REGISTERED NUMBER: 06168252 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
Chartered Accountants
3 Park Square
Leeds
LS1 2NE

Key Security (UK) Ltd (Registered number: 06168252)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 48,604 69,112

CURRENT ASSETS
Debtors 5 1,356,041 1,097,608
Cash at bank and in hand 2,488 24,609
1,358,529 1,122,217
CREDITORS
Amounts falling due within one year 6 997,503 853,226
NET CURRENT ASSETS 361,026 268,991
TOTAL ASSETS LESS CURRENT
LIABILITIES

409,630

338,103

CREDITORS
Amounts falling due after more than one
year

7

(123,356

)

(99,568

)

PROVISIONS FOR LIABILITIES (9,235 ) (13,131 )
NET ASSETS 277,039 225,404

CAPITAL AND RESERVES
Called up share capital 8 12 12
Retained earnings 9 277,027 225,392
SHAREHOLDERS' FUNDS 277,039 225,404

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

Key Security (UK) Ltd (Registered number: 06168252)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 August 2024 and were signed by:





K Montgomery - Director


Key Security (UK) Ltd (Registered number: 06168252)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Key Security (UK) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced provision of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 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 the timing difference.

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 other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 60 (2022 - 69 ) .

Key Security (UK) Ltd (Registered number: 06168252)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 22,894 149,661 16,000 112,428 300,983
Disposals - - (16,000 ) - (16,000 )
At 31 March 2023 22,894 149,661 - 112,428 284,983
DEPRECIATION
At 1 April 2022 21,829 110,713 12,204 87,125 231,871
Charge for year - 6,631 948 10,081 17,660
Eliminated on disposal - - (13,152 ) - (13,152 )
At 31 March 2023 21,829 117,344 - 97,206 236,379
NET BOOK VALUE
At 31 March 2023 1,065 32,317 - 15,222 48,604
At 31 March 2022 1,065 38,948 3,796 25,303 69,112

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,293,526 1,049,417
Sundry debtors and prepayments 25,413 11,089
Corporation tax 37,102 37,102
1,356,041 1,097,608

Included within trade debtors are debts owed to the company upon which advances have been made under invoice discounting arrangements and disclosed as part of the creditors in note 9.

At 31 March 2023 the amount advanced was £269,710 (2022: £309,641) and this sum is secured by way of a fixed and floating charge against all the company's assets.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 39,244 27,954
Trade creditors 523,611 240,441
Corporation tax 31,628 8,406
Social security and other taxes 87,410 238,056
Invoice discounting loan 269,710 309,641
Other creditors and accruals 36,223 19,053
Bank loan 9,677 9,675
997,503 853,226

The invoice discounting loan is advanced against approved trade debtors (see note 8).

Key Security (UK) Ltd (Registered number: 06168252)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loan 22,423 32,901
Loan creditor 100,933 66,667
123,356 99,568

The bank loan represents a loan under HM Government Coronavirus Business Bounce Back Loan Scheme

The bank loan carries an interest rate of 2.5% per annum and it is repayable in accordance with the rules of the scheme

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
12 Ordinary £1 12 12

9. RESERVES
Retained
earnings
£   

At 1 April 2022 225,392
Profit for the year 101,635
Dividends (50,000 )
At 31 March 2023 277,027

10. RELATED PARTY DISCLOSURES

At 31 March 2023 the company owed £18,330 (2022: £Nil) to Key Fire and Security Limited, a company in which Mr K Montgomery is a director.This amount is included within trade creditors.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is K Montgomery.