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Company No: 07279132 (England and Wales)

KEYCHARM LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

KEYCHARM LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

KEYCHARM LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
KEYCHARM LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 2,032,775 2,151,294
2,032,775 2,151,294
Current assets
Debtors 4 2,407 1,545
Cash at bank and in hand 30,895 76,867
33,302 78,412
Creditors: amounts falling due within one year 5 ( 456,349) ( 856,349)
Net current liabilities (423,047) (777,937)
Total assets less current liabilities 1,609,728 1,373,357
Provision for liabilities ( 61,298) ( 63,268)
Net assets 1,548,430 1,310,089
Capital and reserves
Called-up share capital 6 200,001 200,001
Profit and loss account 1,348,429 1,110,088
Total shareholders' funds 1,548,430 1,310,089

For the financial 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.

Directors' responsibilities:

The financial statements of Keycharm Limited (registered number: 07279132) were approved and authorised for issue by the Board of Directors on 18 November 2024. They were signed on its behalf by:

Douglas Malcolm Hurt
Director
KEYCHARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
KEYCHARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Keycharm Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Marlin Chapel Farm, Northchurch Lane, Berkhamsted, HP4 3UQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 April 2023 2,151,294 2,151,294
Additions 853,163 853,163
Disposals ( 1,197,620) ( 1,197,620)
Movement in fair value 225,938 225,938
At 31 March 2024 2,032,775 2,032,775
Carrying value at 31 March 2024 2,032,775 2,032,775
Carrying value at 31 March 2023 2,151,294 2,151,294

4. Debtors

2024 2023
£ £
Accrued income 2,382 1,520
Corporation tax 25 25
2,407 1,545

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 452,449 852,449
Accruals 3,900 3,900
456,349 856,349

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 A Ordinary share of £ 1.00 1 1
200,000 B Ordinary shares of £ 1.00 each 200,000 200,000
200,001 200,001

7. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Amount owed to directors 452,449 852,449

Advances were made to directors totalling £400,000. The balances are interest free with no fixed date for repayment.