IRIS Accounts Production v24.2.0.383 03715898 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh037158982023-03-31037158982024-03-31037158982023-04-012024-03-31037158982022-03-31037158982022-04-012023-03-31037158982023-03-3103715898ns15:EnglandWales2023-04-012024-03-3103715898ns14:PoundSterling2023-04-012024-03-3103715898ns10:Director12023-04-012024-03-3103715898ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3103715898ns10:SmallEntities2023-04-012024-03-3103715898ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3103715898ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3103715898ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103715898ns10:FullAccounts2023-04-012024-03-3103715898ns10:Director22023-04-012024-03-3103715898ns10:Director32023-04-012024-03-3103715898ns10:RegisteredOffice2023-04-012024-03-3103715898ns5:CurrentFinancialInstruments2024-03-3103715898ns5:CurrentFinancialInstruments2023-03-3103715898ns5:Non-currentFinancialInstruments2024-03-3103715898ns5:Non-currentFinancialInstruments2023-03-3103715898ns5:ShareCapital2024-03-3103715898ns5:ShareCapital2023-03-3103715898ns5:RevaluationReserve2024-03-3103715898ns5:RevaluationReserve2023-03-3103715898ns5:RetainedEarningsAccumulatedLosses2024-03-3103715898ns5:RetainedEarningsAccumulatedLosses2023-03-3103715898ns5:LandBuildings2023-03-3103715898ns5:PlantMachinery2023-03-3103715898ns5:FurnitureFittings2023-03-3103715898ns5:ComputerEquipment2023-03-3103715898ns5:LandBuildings2023-04-012024-03-3103715898ns5:PlantMachinery2023-04-012024-03-3103715898ns5:FurnitureFittings2023-04-012024-03-3103715898ns5:ComputerEquipment2023-04-012024-03-3103715898ns5:LandBuildings2024-03-3103715898ns5:PlantMachinery2024-03-3103715898ns5:FurnitureFittings2024-03-3103715898ns5:ComputerEquipment2024-03-3103715898ns5:LandBuildings2023-03-3103715898ns5:PlantMachinery2023-03-3103715898ns5:FurnitureFittings2023-03-3103715898ns5:ComputerEquipment2023-03-3103715898ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3103715898ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31
REGISTERED NUMBER: 03715898 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

KEYVENTURE LIMITED

KEYVENTURE LIMITED (REGISTERED NUMBER: 03715898)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KEYVENTURE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R J Pratt
D J Rogers
N S Lawrence





REGISTERED OFFICE: 7 Harrington Street
Liverpool
L2 9YH





REGISTERED NUMBER: 03715898 (England and Wales)





ACCOUNTANTS: Additions
Chartered Accountants
One Derby Square
Liverpool
L2 9QR

KEYVENTURE LIMITED (REGISTERED NUMBER: 03715898)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 997,765 929,663

CURRENT ASSETS
Debtors 5 373,807 332,016
Cash at bank and in hand 6 1,038,492 850,484
1,412,299 1,182,500
CREDITORS
Amounts falling due within one year 7 759,905 658,660
NET CURRENT ASSETS 652,394 523,840
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,650,159

1,453,503

CREDITORS
Amounts falling due after more than one
year

8

(133,175

)

(30,060

)

PROVISIONS FOR LIABILITIES (143,768 ) (155,449 )
NET ASSETS 1,373,216 1,267,994

CAPITAL AND RESERVES
Called up share capital 510,000 510,000
Revaluation reserve 397,964 404,599
Retained earnings 465,252 353,395
1,373,216 1,267,994

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 11 September 2024 and were signed on its behalf by:




R J Pratt - Director


KEYVENTURE LIMITED (REGISTERED NUMBER: 03715898)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Keyventure 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
On the basis of current financial projections and facilities available to the company the directors have formed a judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

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
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation on all assets is calculated to allocate the depreciable amount to their residual values on a systematic basis over their estimated useful lives as follows:

Freehold land - not depreciated
Property and improvements - 4% on cost
Plant and machinery - 4% on cost
Fixtures and fittings - 20% reducing balance
Computer equipment - 30% reducing balance and 20% on 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 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.

KEYVENTURE LIMITED (REGISTERED NUMBER: 03715898)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Share capital
Ordinary shares are classified as equity.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Borrowings
Interest bearing loans are recorded at the proceeds received, net of direct issue costs. Finance charges, including premiums payable on settlement or redemption and direct issue costs, are accounted for on an accruals basis in the profit and loss account using the effective interest method and are added to the carrying amount of the instrument to the extent that they are not settled in the period in which they arise.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand and cash held with banks.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The capital element of the future payments is treated as a liability. The interest element of these obligations is charged to the profit and loss account over the relevant period so as to produce a constant periodic rate of interest on the remaining balance of the liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 21 ) .

4. TANGIBLE FIXED ASSETS
Property Fixtures
and Plant and and Computer
improvements machinery fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2023 1,206,475 52,931 299,288 488,457 2,047,151
Additions - - - 170,117 170,117
At 31 March 2024 1,206,475 52,931 299,288 658,574 2,217,268
DEPRECIATION
At 1 April 2023 353,295 45,892 283,701 434,600 1,117,488
Charge for year 44,259 2,117 3,117 52,522 102,015
At 31 March 2024 397,554 48,009 286,818 487,122 1,219,503
NET BOOK VALUE
At 31 March 2024 808,921 4,922 12,470 171,452 997,765
At 31 March 2023 853,180 7,039 15,587 53,857 929,663

Included in cost or valuation of land and buildings is freehold land of £ 100,000 (2023 - £ 100,000 ) which is not depreciated.

Included within the net book value of tangible fixed assets is £139,820 (2023 - £nil) in respect of assets held under finance leases. Depreciation charged in respect of these assets during the year amounted to £27,964 (2023 - £nil).

KEYVENTURE LIMITED (REGISTERED NUMBER: 03715898)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2024 is represented by:

Property Fixtures
and Plant and and Computer
improvements machinery fittings equipment Totals
£    £    £    £    £   
Valuation in 2014 212,685 - - - 212,685
Cost 993,790 52,931 299,288 658,574 2,004,583
1,206,475 52,931 299,288 658,574 2,217,268

If property and improvements had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 993,790 993,790
Aggregate depreciation 695,078 659,327

Value of land in freehold land and buildings 100,000 100,000

Property and improvements were valued on an open market basis on 14 July 2014 by C Johnson FRICS FNAVA of Smith and Sons .

This value has been adopted as deemed cost of the assets concerned on transition to FRS 102.

The cost relates to freehold property, 7 Harrington Street Liverpool and its improvements.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 246,427 212,514
Other debtors 127,380 119,502
373,807 332,016

6. CASH AT BANK AND IN HAND

Within cash at bank and in hand there is included a sum of £65,218 (2023 - £65,520) relating to monies held in a bank account on behalf of barristers. Also included within other creditors is the corresponding balance of £65,218 (2023 - £65,520) owing to the barristers.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,636 11,636
Finance leases 29,132 -
Trade creditors 6,741 13,546
Taxation and social security 288,841 200,713
Other creditors 423,555 432,765
759,905 658,660

KEYVENTURE LIMITED (REGISTERED NUMBER: 03715898)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 18,424 30,060
Finance leases 114,751 -
133,175 30,060

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Finance leases 143,883 -