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REGISTERED NUMBER: 04413544 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Keysterne Limited

Keysterne Limited (Registered number: 04413544)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Keysterne Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Miss P L Sterne
Mrs S P Sterne





SECRETARY: Miss P L Sterne





REGISTERED OFFICE: 197 High Street
Boston Spa
West Yorkshire
LS23 6AA





REGISTERED NUMBER: 04413544 (England and Wales)





ACCOUNTANTS: Northern Tonic Ltd
14 Clifton Moor
Business Village
James Nicolson Link
York
YO30 4XG

Keysterne Limited (Registered number: 04413544)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 846,000 846,000

CURRENT ASSETS
Debtors 5 10,914 65,772
Cash at bank 2,708,814 2,575,621
2,719,728 2,641,393
CREDITORS
Amounts falling due within one year 6 159,077 135,624
NET CURRENT ASSETS 2,560,651 2,505,769
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,406,651

3,351,769

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Revaluation reserve 7 19,706 19,706
Retained earnings 3,356,945 3,302,063
3,406,651 3,351,769

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by:





Miss P L Sterne - Director


Keysterne Limited (Registered number: 04413544)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Keysterne 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. 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 as modified by the revaluation of certain assets.

Turnover and revenue recognition
Turnover is measured at fair value of the consideration received or receivable, net of discounts.

Turnover is derived from sales of land and rental income from the letting of commercial and residential property. Income from operating leases is recognised on a straight line basis over the period of the lease.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Keysterne Limited (Registered number: 04413544)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 846,000
NET BOOK VALUE
At 30 November 2023 846,000
At 30 November 2022 846,000

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2021 (155,000 )
Valuation in 2020 (120,000 )
Valuation in 2019 (889,160 )
Valuation in 2016 19,706
Cost 1,990,454
846,000

The freehold property was valued on a market value basis on 30 June 2022 by Malcolm Stuart Property Consultants LLP .

Assets included above held under a long lease have a historical cost of £101,294 and a fair value of £121,000.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 10,914 65,772

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 1,121 6,032
Taxation and social security 16,067 12,187
Other creditors 141,889 117,405
159,077 135,624

7. RESERVES
Revaluation
reserve
£   
At 1 December 2022
and 30 November 2023 19,706

8. RELATED PARTY DISCLOSURES

The company paid costs and tax on behalf of one of its Trust shareholders during the year. At the balance sheet date the amount owed to the company was £8,091 (2022 £63,613).