Company registration number 01573042 (England and Wales)
KEY PARKER LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
KEY PARKER LIMITED
COMPANY INFORMATION
Directors
G W Carmichael
A D Carmichael
J A Parkin
Secretary
A D Carmichael
Company number
01573042
Registered office
West Walk Building
110 Regent Road
Leicester
LE1 7LT
Accountants
Newby Castleman LLP
West Walk Building
110 Regent Road
Leicester
LE1 7LT
KEY PARKER LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
KEY PARKER LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
30 November 2023
31 May 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
6,056
Current assets
Debtors
79,618
202,571
Cash at bank and in hand
40,797
372,181
120,415
574,752
Creditors: amounts falling due within one year
(3,211)
(226,832)
Net current assets
117,204
347,920
Net assets
117,204
353,976
Capital and reserves
Called up share capital
4
6,000
6,000
Capital redemption reserve
5,000
5,000
Profit and loss reserves
106,204
342,976
Total equity
117,204
353,976

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 20 September 2024 and are signed on its behalf by:
J A Parkin
Director
Company registration number 01573042 (England and Wales)
KEY PARKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

Key Parker Limited is a private company limited by shares incorporated in England and Wales. The registered office is West Walk Building, 110 Regent Road, Leicester, LE1 7LT.

1.1
Basis of preparation

These financial statements have been prepared in accordance with applicable accounting standards including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 

As explained in Note 1.2, the company ceased trading in 2023. As required by UK accounting standards, the directors have prepared the financial statements on the basis that the company is no longer a going concern. No material adjustments arose as a result of ceasing to apply the going concern basis.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2
Going concern

Ttruehe company ceased trading during 2023 and will be liquidated in 2024. The financial statements have been prepared on a basis other than that of a going concern which includes, where appropriate, writing down the company’s assets to their net realisable value. The financial statements do not include any provision for the future costs of terminating the business of the company except to the extent that such costs were committed at the balance sheet date.

1.3
Reporting period

The financial statements have been prepared for an 18 month period and so the comparative amounts presented in the financial statements are not entirely comparable.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for advertising, marketing and creative services, and is shown net of VAT.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.5
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses to reflect their recoverable amounts.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Computer equipment
20% per annum of cost
Fixtures and fittings
20% per annum of cost
KEY PARKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

1.8
Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.11

Operating leases

Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss account on a straight line basis over the term of the relevant lease.

KEY PARKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
2022
Number
Number
Total
12
21
3
Tangible fixed assets
Total
£
Cost
At 1 June 2022 and 30 November 2023
100,581
Depreciation and impairment
At 1 June 2022
94,525
Depreciation charged in the period
6,056
At 30 November 2023
100,581
Carrying amount
At 30 November 2023
-
0
At 31 May 2022
6,056
4
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
4,800
4,800
4,800
4,800
Ordinary 'B' shares of £1 each
1,200
1,200
1,200
1,200
6,000
6,000
6,000
6,000
5
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
-
0
1,800
6
Related party transactions

During the period, the company paid management charges of £385,830 (2022: £515,388). At 30 November 2023 the company was owed £Nil (2022: £583) by the parent undertaking.

2023-11-302022-06-01false20 September 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityG W CarmichaelJ A ParkinJ A ParkinA L DelgadoA D Carmichaelfalse015730422022-06-012023-11-3001573042bus:Director12022-06-012023-11-3001573042bus:CompanySecretaryDirector12022-06-012023-11-3001573042bus:Director22022-06-012023-11-3001573042bus:CompanySecretary12022-06-012023-11-3001573042bus:Director32022-06-012023-11-3001573042bus:Director42022-06-012023-11-3001573042bus:RegisteredOffice2022-06-012023-11-30015730422023-11-30015730422022-05-3101573042core:CurrentFinancialInstrumentscore:WithinOneYear2023-11-3001573042core:CurrentFinancialInstrumentscore:WithinOneYear2022-05-3101573042core:ShareCapital2023-11-3001573042core:ShareCapital2022-05-3101573042core:CapitalRedemptionReserve2023-11-3001573042core:CapitalRedemptionReserve2022-05-3101573042core:RetainedEarningsAccumulatedLosses2023-11-3001573042core:RetainedEarningsAccumulatedLosses2022-05-3101573042core:ShareCapitalOrdinaryShares2023-11-3001573042core:ShareCapitalOrdinaryShares2022-05-3101573042core:PlantMachinery2022-06-012023-11-3001573042core:FurnitureFittings2022-06-012023-11-30015730422021-06-012022-05-31015730422022-05-3101573042bus:OrdinaryShareClass12022-06-012023-11-3001573042bus:OrdinaryShareClass22022-06-012023-11-3001573042bus:OrdinaryShareClass12023-11-3001573042bus:OrdinaryShareClass12022-05-3101573042bus:OrdinaryShareClass22023-11-3001573042bus:OrdinaryShareClass22022-05-3101573042core:ParentEntitiescore:ManagementRechargesServices2022-06-012023-11-3001573042core:ParentEntitiescore:ManagementRechargesServices2021-06-012022-05-3101573042bus:PrivateLimitedCompanyLtd2022-06-012023-11-3001573042bus:SmallCompaniesRegimeForAccounts2022-06-012023-11-3001573042bus:FRS1022022-06-012023-11-3001573042bus:AuditExemptWithAccountantsReport2022-06-012023-11-3001573042bus:FullAccounts2022-06-012023-11-30xbrli:purexbrli:sharesiso4217:GBP