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REGISTERED NUMBER: SC132950 (Scotland)













Financial Statements

for the Year Ended 31 December 2023

for

Key Reservations (Hotels) Limited

Key Reservations (Hotels) Limited (Registered number: SC132950)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Key Reservations (Hotels) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr C W Perkins





SECRETARY: Mr C W Perkins





REGISTERED OFFICE: Suite G
93 Princes Street
Ardrossan
Ayrshire
KA22 8DQ





REGISTERED NUMBER: SC132950 (Scotland)





ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU

Key Reservations (Hotels) Limited (Registered number: SC132950)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2 2
Tangible assets 5 11,289 15,894
Investments 6 200 200
11,491 16,096

CURRENT ASSETS
Debtors 7 692,134 490,790
Cash at bank 130,913 79,270
823,047 570,060
CREDITORS
Amounts falling due within one year 8 554,846 402,722
NET CURRENT ASSETS 268,201 167,338
TOTAL ASSETS LESS CURRENT
LIABILITIES

279,692

183,434

CREDITORS
Amounts falling due after more than one
year

9

(14,707

)

(23,416

)

PROVISIONS FOR LIABILITIES (550 ) (1,556 )
NET ASSETS 264,435 158,462

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 264,335 158,362
SHAREHOLDERS' FUNDS 264,435 158,462

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 Reservations (Hotels) Limited (Registered number: SC132950)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 September 2024 and were signed by:





Mr C W Perkins - Director


Key Reservations (Hotels) Limited (Registered number: SC132950)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Key Reservations (Hotels) Limited is a private company, limited by shares , registered in Scotland. 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.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover represents the amount derived from the provision of goods and services falling within the company's activities after deduction of trade discounts and value added tax.


Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business is being amortised evenly over its estimated useful life.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 33% on cost, 25% on reducing balance and 15% on reducing balance

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.

Key Reservations (Hotels) Limited (Registered number: SC132950)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the forseeable future. Thus the director continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 2
NET BOOK VALUE
At 31 December 2023 2
At 31 December 2022 2

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 101,587
Additions 4,315
At 31 December 2023 105,902
DEPRECIATION
At 1 January 2023 85,693
Charge for year 8,920
At 31 December 2023 94,613
NET BOOK VALUE
At 31 December 2023 11,289
At 31 December 2022 15,894

Key Reservations (Hotels) Limited (Registered number: SC132950)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 200
NET BOOK VALUE
At 31 December 2023 200
At 31 December 2022 200

7. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 193,777 58,962
Other debtors 435,857 431,828
629,634 490,790

Amounts falling due after more than one year:
Other debtors 62,500 -

Aggregate amounts 692,134 490,790

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 8,700 8,700
Trade creditors 9,299 7,592
Taxation and social security 112,487 36,236
Other creditors 424,360 350,194
554,846 402,722

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 14,707 23,416

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director, Mr Craig Perkins, has advanced loan funds to the company on an interest free basis and without formal repayment terms. The amount owed at 31 December 2023 is £6,891 (2022 £8,694).

Key Reservations (Hotels) Limited (Registered number: SC132950)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. RELATED PARTY DISCLOSURES

As at 31 December 2023 the company is owed the sum of £35,562 (2022 £55,562) from Geronimo Sailing Limited. The amount due is interest free and has no fixed repayment date.

As at 31 December 2023 the company is owed the sum of £62,500 (2022 £nil) from Minard Property Limited. The amount due is interest free and has no fixed repayment date.

Mr CW Perkins is a director of all three companies.

12. ULTIMATE CONTROLLING PARTY

The company is under the control of the director.