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REGISTERED NUMBER: 03086264 (England and Wales)















KEY CONSTRUCTION (MIDLANDS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






KEY CONSTRUCTION (MIDLANDS) LIMITED (REGISTERED NUMBER: 03086264)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KEY CONSTRUCTION (MIDLANDS) LIMITED

COMPANY INFORMATION
For The Year Ended 30 JUNE 2024







DIRECTORS: B. G. Callinan
M. B. Callinan
T. Callinan





SECRETARY: Mrs E. V. Callinan





REGISTERED OFFICE: 8 Church Green East
Redditch
Worcestershire
B98 8BP





REGISTERED NUMBER: 03086264 (England and Wales)





ACCOUNTANTS: Charles Lovell & Co Limited
Chartered Certified Accountants
and Statutory Auditors
8 Church Green East
Redditch
Worcestershire
B98 8BP

KEY CONSTRUCTION (MIDLANDS) LIMITED (REGISTERED NUMBER: 03086264)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 245,527 117,099
Investments 5 100 100
245,627 117,199

CURRENT ASSETS
Stocks 205,454 1,924,182
Debtors 6 4,207,674 1,929,620
Cash at bank 3,125,998 2,455,667
7,539,126 6,309,469
CREDITORS
Amounts falling due within one year 7 2,112,002 1,948,709
NET CURRENT ASSETS 5,427,124 4,360,760
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,672,751

4,477,959

CAPITAL AND RESERVES
Called up share capital 103 103
Retained earnings 5,672,648 4,477,856
SHAREHOLDERS' FUNDS 5,672,751 4,477,959

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





B. G. Callinan - Director


KEY CONSTRUCTION (MIDLANDS) LIMITED (REGISTERED NUMBER: 03086264)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 JUNE 2024


1. STATUTORY INFORMATION

Key Construction (Midlands) 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.

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

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 cost
Motor vehicles - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 18 (2023 - 19 ) .

KEY CONSTRUCTION (MIDLANDS) LIMITED (REGISTERED NUMBER: 03086264)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 JUNE 2024


4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2023 15,650 270,467 286,117
Additions 5,119 216,912 222,031
Disposals (3,953 ) (84,976 ) (88,929 )
At 30 June 2024 16,816 402,403 419,219
DEPRECIATION
At 1 July 2023 15,020 153,998 169,018
Charge for year 1,639 52,467 54,106
Eliminated on disposal (3,951 ) (45,481 ) (49,432 )
At 30 June 2024 12,708 160,984 173,692
NET BOOK VALUE
At 30 June 2024 4,108 241,419 245,527
At 30 June 2023 630 116,469 117,099

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 100
NET BOOK VALUE
At 30 June 2024 100
At 30 June 2023 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 3,324,235 763,314
Other debtors 883,439 1,166,306
4,207,674 1,929,620

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 886,010 357,159
Amounts owed to group undertakings 9,321 648,659
Taxation and social security 784,960 344,076
Other creditors 431,711 598,815
2,112,002 1,948,709

KEY CONSTRUCTION (MIDLANDS) LIMITED (REGISTERED NUMBER: 03086264)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 JUNE 2024


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.24 30.6.23
£    £   
Within one year 4,969 8,925
Between one and five years 8,695 1,192
13,664 10,117

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
B. G. Callinan
Balance outstanding at start of year 879,000 879,000
Amounts repaid (879,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 879,000

M. B. Callinan
Balance outstanding at start of year - -
Amounts advanced 476,200 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 476,200 -