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REGISTERED NUMBER: 06790635 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

KEY LOGISTIC SERVICES LTD

KEY LOGISTIC SERVICES LTD (REGISTERED NUMBER: 06790635)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


KEY LOGISTIC SERVICES LTD (REGISTERED NUMBER: 06790635)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,406 -

CURRENT ASSETS
Debtors 5 1,132 350
Cash at bank and in hand 5,490 8,764
6,622 9,114
CREDITORS
Amounts falling due within one year 6 17,207 6,610
NET CURRENT (LIABILITIES)/ASSETS (10,585 ) 2,504
TOTAL ASSETS LESS CURRENT
LIABILITIES

(179

)

2,504

CREDITORS
Amounts falling due after more than one
year

7

(3,300

)

(5,500

)

PROVISIONS FOR LIABILITIES (2,000 ) -
NET LIABILITIES (5,479 ) (2,996 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (5,579 ) (3,096 )
(5,479 ) (2,996 )

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 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 LOGISTIC SERVICES LTD (REGISTERED NUMBER: 06790635)

BALANCE SHEET - 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.

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 director and authorised for issue on 5 September 2024 and were signed by:





M Pugh - Director


KEY LOGISTIC SERVICES LTD (REGISTERED NUMBER: 06790635)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Key Logistic Services Ltd is a private company, limited by shares, registered in England and Wales, registered number 06790635. Its registered office is Admiral House, Waterfront East, Brierley Hill, DY5 1XG.

The financial statements are presented in Sterling, which is the functional currency of the company.

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 etc - 25% on reducing balance

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.

Financial instruments
Basic financial liabilities, including trade and other debtors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

KEY LOGISTIC SERVICES LTD (REGISTERED NUMBER: 06790635)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Going concern
The accounts have been drawn up on the going concern basis. The company's ongoing activities are dependent upon the continued financial support of its loan creditors.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 13,500
At 31 December 2023 13,500
DEPRECIATION
Charge for year 3,094
At 31 December 2023 3,094
NET BOOK VALUE
At 31 December 2023 10,406

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 1,132 350

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 2,200 2,200
Trade creditors - 12
Taxation and social security (349 ) 2,227
Other creditors 15,356 2,171
17,207 6,610

KEY LOGISTIC SERVICES LTD (REGISTERED NUMBER: 06790635)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 3,300 5,500

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
M Pugh
Balance outstanding at start of year (452 ) (234 )
Amounts advanced 3,656 3,282
Amounts repaid (2,072 ) (3,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,132 (452 )

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £1,000 (2022 - £1,000) were paid to the director .