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Registered number: 09670296
Keary Excavations Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09670296
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 53,421 70,328
53,421 70,328
CURRENT ASSETS
Debtors 5 91,408 84,450
Cash at bank and in hand 18,426 7
109,834 84,457
Creditors: Amounts Falling Due Within One Year 6 (151,307 ) (125,372 )
NET CURRENT ASSETS (LIABILITIES) (41,473 ) (40,915 )
TOTAL ASSETS LESS CURRENT LIABILITIES 11,948 29,413
Creditors: Amounts Falling Due After More Than One Year 7 (9,037 ) -
NET ASSETS 2,911 29,413
CAPITAL AND RESERVES
Called up share capital 9 1 -
Profit and Loss Account 2,910 29,413
SHAREHOLDERS' FUNDS 2,911 29,413
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For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Keary
Director
17/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Keary Excavations Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09670296 . The registered office is 1 Bowland Road, Denton, M34 2GD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 October 2022 24,000 156,569 180,569
As at 30 September 2023 24,000 156,569 180,569
Depreciation
As at 1 October 2022 10,500 99,741 110,241
Provided during the period 2,700 14,207 16,907
As at 30 September 2023 13,200 113,948 127,148
Net Book Value
As at 30 September 2023 10,800 42,621 53,421
As at 1 October 2022 13,500 56,828 70,328
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 66,650 66,650
Other debtors 24,758 17,800
91,408 84,450
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 60 7,895
Trade creditors 14,017 14,016
Bank loans and overdrafts - 1,775
Other creditors 2,425 4,185
Taxation and social security 134,805 97,501
151,307 125,372
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 9,037 -
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8. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 60 7,895
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 -
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 October 2022 Amounts advanced Amounts repaid Amounts written off As at 30 September 2023
£ £ £ £ £
Mr Richard Keary - - - - 11,415
The above loan is unsecured, interest free and repayable on demand.
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