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REGISTERED NUMBER: 08291172 (England and Wales)















Keystone Property Reports Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






Keystone Property Reports Limited (Registered number: 08291172)






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




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Keystone Property Reports Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D I Clapp
I A Burrows



REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: 08291172 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Lloyds Bank plc
2 South Parade
Weston-Super-Mare
North Somerset
BS23 1JL

Keystone Property Reports Limited (Registered number: 08291172)

Abridged Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 30,876 52,763
Tangible assets 6 12,228 12,695
Investments 7 10,616 -
53,720 65,458

CURRENT ASSETS
Debtors 7,671 5,330
Cash at bank 106,545 128,839
114,216 134,169
CREDITORS
Amounts falling due within one year 74,806 44,530
NET CURRENT ASSETS 39,410 89,639
TOTAL ASSETS LESS CURRENT
LIABILITIES

93,130

155,097

CREDITORS
Amounts falling due after more than one
year

17,500

27,500
NET ASSETS 75,630 127,597

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 75,624 127,591
SHAREHOLDERS' FUNDS 75,630 127,597

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

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

The directors acknowledge their 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.

Keystone Property Reports Limited (Registered number: 08291172)

Abridged Statement of Financial Position - continued
31 December 2023


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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2024 and were signed on its behalf by:





D I Clapp - Director


Keystone Property Reports Limited (Registered number: 08291172)

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

1. STATUTORY INFORMATION

Keystone Property Reports Limited 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Software development costs
The software development costs have been capitalised as they were incurred. These are being amortised over their useful life of five years.

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 etc - 33% on reducing balance and 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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 statement of financial position date.

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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Keystone Property Reports Limited (Registered number: 08291172)

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

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 234,636
AMORTISATION
At 1 January 2023 181,873
Amortisation for year 21,887
At 31 December 2023 203,760
NET BOOK VALUE

At 31 December 2023 30,876
At 31 December 2022 52,763

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 27,083
Additions 4,207
At 31 December 2023 31,290
DEPRECIATION
At 1 January 2023 14,388
Charge for year 4,674
At 31 December 2023 19,062
NET BOOK VALUE
At 31 December 2023 12,228
At 31 December 2022 12,695

Keystone Property Reports Limited (Registered number: 08291172)

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

7. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
Additions 10,616
At 31 December 2023 10,616
NET BOOK VALUE
At 31 December 2023 10,616

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 27,500 37,500

The bank loan is a government secured bounceback loan.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D I Clapp.

During the current year the company was controlled by the above director by virtue of the fact that he owns the majority of the company's issued share capital.