Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 06551111 Mr Desire Hervet Mr Mohamed Abdelmonim. true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06551111 2022-12-31 06551111 2023-12-31 06551111 2023-01-01 2023-12-31 06551111 frs-core:CurrentFinancialInstruments 2023-12-31 06551111 frs-core:ShareCapital 2023-12-31 06551111 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 06551111 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06551111 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 06551111 frs-bus:SmallEntities 2023-01-01 2023-12-31 06551111 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06551111 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06551111 1 2023-01-01 2023-12-31 06551111 frs-core:CostValuation 2022-12-31 06551111 frs-core:CostValuation 2023-12-31 06551111 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 06551111 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 06551111 frs-bus:Director1 2023-01-01 2023-12-31 06551111 frs-countries:EnglandWales 2023-01-01 2023-12-31 06551111 2021-12-31 06551111 2022-12-31 06551111 2022-01-01 2022-12-31 06551111 frs-core:CurrentFinancialInstruments 2022-12-31 06551111 frs-core:ShareCapital 2022-12-31 06551111 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 06551111
Key Produce Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Adbell International Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 06551111
2023 2022
Notes $ $ $ $
FIXED ASSETS
Investments 4 1,532 1,532
1,532 1,532
Creditors: Amounts Falling Due Within One Year 5 97,071 105,535
NET CURRENT ASSETS (LIABILITIES) 97,071 105,535
TOTAL ASSETS LESS CURRENT LIABILITIES 98,603 107,067
NET ASSETS 98,603 107,067
CAPITAL AND RESERVES
Called up share capital 6 19,901 19,901
Profit and Loss Account 78,702 87,166
SHAREHOLDERS' FUNDS 98,603 107,067
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Desire Hervet
Director
26/09/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Key Produce Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06551111 . The registered office is Birchin Court , 20 Birchin Lane , London , EC3V 9DJ.
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.
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.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other
Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes
party to the contractual provisions of the instrument.
Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a
legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to
realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured
at transaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the
present value of the future receipts discounted at a market rate of interest.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the
company after deducting all of its liabilities.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group
companies and preference shares that are classified as debt, 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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or
less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
2.4.
Foreign currencies
Assets and liabilities in foreign currencies are translated into USD at the rates of exchange ruling at the balance sheet date.  Transactions in foreign currencies are translated into USD at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
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Page 3
4. Investments
Other
$
Cost
As at 1 January 2023 1,532
As at 31 December 2023 1,532
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 1,532
As at 1 January 2023 1,532
5. Creditors: Amounts Falling Due Within One Year
2023 2022
$ $
Amounts owed to other participating interests (97,071 ) (105,535 )
7. Ultimate Controlling Party
The company's ultimate controlling party is Mr Mohamed Abdelmonim. by virtue of his ownership of 100% of the issued share capital in the company.
Page 3