Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falsefalseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13896101 2023-04-01 2024-03-31 13896101 2022-02-05 2023-03-31 13896101 2024-03-31 13896101 2023-03-31 13896101 c:Director1 2023-04-01 2024-03-31 13896101 d:FreeholdInvestmentProperty 2024-03-31 13896101 d:FreeholdInvestmentProperty 2023-03-31 13896101 d:CurrentFinancialInstruments 2024-03-31 13896101 d:CurrentFinancialInstruments 2023-03-31 13896101 d:Non-currentFinancialInstruments 2024-03-31 13896101 d:Non-currentFinancialInstruments 2023-03-31 13896101 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 13896101 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13896101 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 13896101 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 13896101 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 13896101 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 13896101 d:ShareCapital 2024-03-31 13896101 d:ShareCapital 2023-03-31 13896101 d:RetainedEarningsAccumulatedLosses 2024-03-31 13896101 d:RetainedEarningsAccumulatedLosses 2023-03-31 13896101 c:OrdinaryShareClass1 2023-04-01 2024-03-31 13896101 c:OrdinaryShareClass1 2024-03-31 13896101 c:OrdinaryShareClass1 2023-03-31 13896101 c:FRS102 2023-04-01 2024-03-31 13896101 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13896101 c:FullAccounts 2023-04-01 2024-03-31 13896101 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13896101 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13896101









KEELEY CAPITAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
KEELEY CAPITAL LIMITED
REGISTERED NUMBER: 13896101

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
198,421
198,421

  
198,421
198,421

Current assets
  

Debtors: amounts falling due within one year
 5 
936
1,703

Cash at bank and in hand
  
880
2,084

  
1,816
3,787

Creditors: amounts falling due within one year
 6 
(68,241)
(65,041)

Net current liabilities
  
 
 
(66,425)
 
 
(61,254)

Total assets less current liabilities
  
131,996
137,167

Creditors: amounts falling due after more than one year
 7 
(137,045)
(137,045)

  

Net (liabilities)/assets
  
(5,049)
122


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
(5,149)
22

  
(5,049)
122


Page 1

 
KEELEY CAPITAL LIMITED
REGISTERED NUMBER: 13896101
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 September 2024.




S J Chapman
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
KEELEY CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 13896101. The Company's registered office is Sterling House, 71 Francis Road, Edgbaston, Birmingham, B16 8SP.
The company was incorporated on 5 February 2022 and the year end was extended to bring it in line with the financial year so the comparative figures cover the period from incorporation to 31 March 2023.  These accounts cover the year ended 31 March 2024. 
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

The following principal accounting policies have been applied:

 
2.2

Going concern

During the year the property required repairs and for this reason the company incurred a loss in the current year.  The property is now let and the company is expected to make profits going forward.  The director is prepared to support the company and therefore has deemed it appropriate to prepare the accounts on a going concern basis. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rental of property
Turnover from the rental of property is recognised when all the following conditions are satisfied:
- the amount of turnover can be measured reliably;
- it is probable that the Company will receive consideration due for the rental of properties;
- the period of rent can be measured reliably; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
KEELEY CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.
 
Page 4

 
KEELEY CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)


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, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
 
Page 5

 
KEELEY CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)


Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
198,421



At 31 March 2024
198,421

The 2024 valuations were made by the director, on an open market value for existing use basis.






Page 6

 
KEELEY CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Prepayments and accrued income
936
1,703

936
1,703



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Taxations and social security
-
113

Other creditors
67,728
64,928

Accruals and deferred income
513
-

68,241
65,041


Page 7

 
KEELEY CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
137,045
137,045

137,045
137,045


The following liabilities were secured:

2024
2023
£
£



Bank loans
137,045
137,045

137,045
137,045

Details of security provided:

Bank loans of £137,045 are secured by fixed charges held by Paragon Bank PLC over the freehold property held within investment properties.

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2024
2023
£
£


Repayable other than by instalments
137,045
137,045

137,045
137,045

The loan is an interest only loan which is due to be repaid 25 years from the loan draw down in July 2022.  Interest is fixed for the first five years and is charged at 3.05% per annum.

Page 8

 
KEELEY CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
137,045
137,045

137,045
137,045

137,045
137,045



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



10.


Related party transactions

During the year the company received a loan from the director and the balance outstanding and due to the director as at 31 March 2024 was £67,728 (2023 - £64,928).

 
Page 9