2023-02-01 2024-01-31 false No description of principal activity Capium Accounts Production 1.1 04117471 bus:FullAccounts 2023-02-01 2024-01-31 04117471 bus:FRS102 2023-02-01 2024-01-31 04117471 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 04117471 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 04117471 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04117471 2023-02-01 2024-01-31 04117471 2024-01-31 04117471 bus:RegisteredOffice 2023-02-01 2024-01-31 04117471 core:WithinOneYear 2024-01-31 04117471 core:AfterOneYear 2024-01-31 04117471 bus:Director1 2023-02-01 2024-01-31 04117471 bus:Director1 2024-01-31 04117471 bus:Director1 2022-02-01 2023-01-31 04117471 bus:Director2 2023-02-01 2024-01-31 04117471 bus:Director2 2024-01-31 04117471 bus:Director2 2022-02-01 2023-01-31 04117471 bus:Director3 2023-02-01 2024-01-31 04117471 bus:Director3 2024-01-31 04117471 bus:Director3 2022-02-01 2023-01-31 04117471 bus:Director4 2023-02-01 2024-01-31 04117471 bus:Director4 2024-01-31 04117471 bus:Director4 2022-02-01 2023-01-31 04117471 2022-02-01 04117471 bus:LeadAgentIfApplicable 2023-02-01 2024-01-31 04117471 2022-02-01 2023-01-31 04117471 2023-01-31 04117471 core:WithinOneYear 2023-01-31 04117471 core:AfterOneYear 2023-01-31 04117471 bus:EntityAccountantsOrAuditors 2022-02-01 2023-01-31 04117471 core:LandBuildings 2023-02-01 2024-01-31 04117471 core:LandBuildings 2024-01-31 04117471 core:LandBuildings 2023-01-31 04117471 core:PlantMachinery 2023-02-01 2024-01-31 04117471 core:PlantMachinery 2024-01-31 04117471 core:PlantMachinery 2023-01-31 04117471 core:MotorCars 2023-02-01 2024-01-31 04117471 core:MotorCars 2024-01-31 04117471 core:MotorCars 2023-01-31 04117471 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2024-01-31 04117471 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2023-01-31 04117471 core:IntangibleAssetsOtherThanGoodwill 2023-02-01 2024-01-31 04117471 core:IntangibleAssetsOtherThanGoodwill 2024-01-31 04117471 core:IntangibleAssetsOtherThanGoodwill 2023-01-31 04117471 core:NetGoodwill 2023-02-01 2024-01-31 04117471 core:NetGoodwill 2024-01-31 04117471 core:NetGoodwill 2023-01-31 04117471 core:CostValuation core:Non-currentFinancialInstruments 2024-01-31 04117471 core:CostValuation core:Non-currentFinancialInstruments 2023-01-31 04117471 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-01-31 04117471 core:DisposalsDecreaseInInvestments core:Non-currentFinancialInstruments 2024-01-31 04117471 core:RevaluationsIncreaseDecreaseInInvestments core:Non-currentFinancialInstruments 2024-01-31 04117471 core:Non-currentFinancialInstruments 2024-01-31 04117471 core:Non-currentFinancialInstruments 2023-01-31 04117471 core:ShareCapital 2024-01-31 04117471 core:ShareCapital 2023-01-31 04117471 core:RevaluationReserve 2024-01-31 04117471 core:RevaluationReserve 2023-01-31 04117471 core:RetainedEarningsAccumulatedLosses 2024-01-31 04117471 core:RetainedEarningsAccumulatedLosses 2023-01-31 04117471 dpl:Item1 2023-02-01 04117471 dpl:Item1 2024-01-31 04117471 dpl:Item1 2022-02-01 04117471 dpl:Item1 2023-01-31 iso4217:GBP xbrli:shares xbrli:pure
Registered Number: 04117471
England and Wales

 

 

 

KEY INNS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 97,850    109,850 
Tangible fixed assets 4 4,732,119    2,899,413 
4,829,969    3,009,263 
Current assets      
Stocks 5 20,951    22,951 
Debtors 6 47,176    47,344 
Cash at bank and in hand 1,965,018    1,525,528 
2,033,145    1,595,823 
Creditors: amount falling due within one year 7 (576,089)   (599,967)
Net current assets 1,457,056    995,856 
 
Total assets less current liabilities 6,287,025    4,005,119 
Creditors: amount falling due after more than one year 8 (691,110)   (972,017)
Provisions for liabilities 9 (62,120)   (28,614)
Net assets 5,533,795    3,004,488 
 

Capital and reserves
     
Called up share capital 10,008    10,008 
Reserves 10 2,482,015    423,333 
Profit and loss account 3,041,772    2,571,147 
Shareholders' funds 5,533,795    3,004,488 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 27 September 2024 and were signed on its behalf by:


-------------------------------
Darren Salicki
Director
1
General Information
Key Inns Limited is a private company, limited by shares, registered in England and Wales, registration number 04117471, registration address The Old Mill Thinford Road, Metal Bridge, Coxhoe, Durham, DH6 5NX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Development expenditures
Research and development expenditure is charged to the income statement in the period in which it is incurred. However, where the directors are satisfied as to the technical, commercial and financial viability of individual projects, development expenditure is deferred and amortised over years during which the company is expected to benefit.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:



Land and Buildings Nil Reducing Balance
Plant and Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 129 (2023 : 125).
3.

Intangible fixed assets

Cost Research and Development   Goodwill   Total
  £   £   £
At 01 February 2023 13,850    300,000    313,850 
Additions    
Disposals    
At 31 January 2024 13,850    300,000    313,850 
Net book values
At 31 January 2024 13,850    84,000    97,850 
At 31 January 2023 13,850    96,000    109,850 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Total
  £   £   £   £
At 01 February 2023 2,471,668    1,521,545    135,471    4,128,684 
Additions 56,680    51,391      108,071 
Disposals (257,030)   (75,000)     (332,030)
Revaluations 2,058,682        2,058,682 
At 31 January 2024 4,330,000    1,497,936    135,471    5,963,407 
Depreciation
At 01 February 2023   1,183,662    45,609    1,229,271 
Charge for year   52,143    20,446    72,589 
On disposals   (70,572)     (70,572)
At 31 January 2024   1,165,233    66,055    1,231,288 
Net book values
Closing balance as at 31 January 2024 4,330,000    332,703    69,416    4,732,119 
Opening balance as at 01 February 2023 2,471,668    337,883    89,862    2,899,413 


5.

Stocks

2024
£
  2023
£
Finished Goods 20,951    22,951 
20,951    22,951 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Prepayments & Accrued Income 36,950    38,509 
Other Debtors 10,226    8,835 
47,176    47,344 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 48,539    48,041 
Bank Loans & Overdrafts 172,451    198,483 
Corporation Tax 120,835    127,784 
PAYE & Social Security 25,865    20,455 
Accrued Expenses 14,300    15,300 
Nest Pension Control 1,592    1,192 
Machine Games Duty (1)   (1)
VAT 192,508    188,713 
576,089    599,967 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Long term bank loan 589,991    714,432 
Other long-term loans 101,119    257,585 
691,110    972,017 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred tax - brought forward 28,614    34,502 
Deferred tax - additions 33,506    (5,888)
62,120    28,614 

10.

Reserves

2024
£
  2023
£
Revaluation Reserve b/fwd 423,333    423,333 
Revaluation of Fixed Assets 2,058,682   
2,482,015    423,333 

11.

Directors advances, credits and guarantees

Included in creditors: amounts due within one year, are amounts owed to the Directors of £101,119. (2023 - £257,585)

12.

Controlling party

For the whole of the period under review the company was under the control of Darren, Lene, Malcolm & Heather Salicki, directors of the company.
2