Company Registration No. 10260123 (England and Wales)
Keenan Family Investments Limited
Unaudited accounts
for the year ended 31 March 2024
Keenan Family Investments Limited
Unaudited accounts
Contents
Keenan Family Investments Limited
Company Information
for the year ended 31 March 2024
Directors
Mr G A M Keenan
Mrs C E M Keenan
Secretary
Mrs C E M Keenan
Company Number
10260123 (England and Wales)
Registered Office
46 PARROCK ROAD
GRAVESEND
KENT
DA12 1QH
UNITED KINGDOM
Accountants
Affable Accountancy Ltd
6 Mendip Way
Corby
Northamptonshire
NN18 8GJ
Keenan Family Investments Limited
Statement of financial position
as at 31 March 2024
Tangible assets
3,747
6,870
Investment property
315,663
460,400
Investments
1,018,944
997,781
Cash at bank and in hand
23,389
18,722
Creditors: amounts falling due within one year
(1,022,789)
(1,218,373)
Net current liabilities
(993,751)
(1,187,816)
Total assets less current liabilities
344,603
277,235
Provisions for liabilities
Deferred tax
(38,277)
(38,277)
Net assets
306,326
238,958
Called up share capital
10
10
Profit and loss account
306,316
238,948
Shareholders' funds
306,326
238,958
For the year ending 31 March 2024 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by
Mr G A M Keenan
Director
Company Registration No. 10260123
Keenan Family Investments Limited
Notes to the Accounts
for the year ended 31 March 2024
Keenan Family Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 10260123. The registered office is 46 PARROCK ROAD, GRAVESEND, KENT, DA12 1QH, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% straight line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The balance sheet is showing net current liabilities of £1,006,427. The company is reliant upon the support of its directors, who have agreed not to demand repayment of the balance due to them within the next 12 months and therefore the accounts have been prepared on a going concern basis.
Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Keenan Family Investments Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 April 2023
460,400
The directors consider the original cost of the long term leasehold investment property to be an appropriate market value as at 31 March 2024.
6
Investments
Other investments
Valuation at 1 April 2023
997,781
Fair value adjustments
57,362
Valuation at 31 March 2024
1,018,944
Amounts falling due within one year
Accrued income and prepayments
-
3,119
Keenan Family Investments Limited
Notes to the Accounts
for the year ended 31 March 2024
8
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
700,000
700,000
Taxes and social security
3,070
2,336
Loans from directors
318,519
514,037
The bank loan of £700,000 (2023 - £700,000) is secured on the company's fixed asset investments.
9
Transactions with related parties
During the year a director loaned £31,000 (2023 - £66,000) to the company. At the balance sheet
date the company owed a director £318,519 (2023 - £514,037). This loan is interest free and
repayable on demand.
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).