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Registration number: 12333459

Keyturn Homes Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Keyturn Homes Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Keyturn Homes Ltd

Company Information

Director

Miss Olga Manolitsi

Registered office

First Floor
85 Great Portland Street
London
W1W 7LT

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Keyturn Homes Ltd

(Registration number: 12333459)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

983

1,475

Current assets

 

Cash at bank and in hand

 

52,224

587

Creditors: Amounts falling due within one year

6

(1,249)

(599)

Net current assets/(liabilities)

 

50,975

(12)

Total assets less current liabilities

 

51,958

1,463

Creditors: Amounts falling due after more than one year

6

(168,756)

(92,630)

Net liabilities

 

(116,798)

(91,167)

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

(117,798)

(92,167)

Shareholders' deficit

 

(116,798)

(91,167)

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

Approved and authorised by the director on 23 August 2024
 

.........................................
Miss Olga Manolitsi
Director

 

Keyturn Homes Ltd

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

1

General information

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

The address of its registered office is:
First Floor
85 Great Portland Street
London
W1W 7LT

These financial statements were authorised for issue by the director on 23 August 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Keyturn Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

492

492

 

Keyturn Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2022

1,967

1,967

At 30 November 2023

1,967

1,967

Depreciation

At 1 December 2022

492

492

Charge for the year

492

492

At 30 November 2023

984

984

Carrying amount

At 30 November 2023

983

983

At 30 November 2022

1,475

1,475

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

49

-

Accruals and deferred income

1,200

600

Other creditors

-

(1)

1,249

599

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

168,756

92,630

7

Loans and borrowings

Non-current loans and borrowings

 

Keyturn Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

7

Loans and borrowings (continued)

2023
£

2022
£

Other borrowings

168,756

92,630