Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Colin Michael John Godwin 22/07/2008 Sarah Margaret Godwin 22/07/2008 26 November 2024 The principal activity of the company is support activities for crop production. 06652862 2024-03-31 06652862 bus:Director1 2024-03-31 06652862 bus:Director2 2024-03-31 06652862 2023-03-31 06652862 core:CurrentFinancialInstruments 2024-03-31 06652862 core:CurrentFinancialInstruments 2023-03-31 06652862 core:ShareCapital 2024-03-31 06652862 core:ShareCapital 2023-03-31 06652862 core:RetainedEarningsAccumulatedLosses 2024-03-31 06652862 core:RetainedEarningsAccumulatedLosses 2023-03-31 06652862 core:PlantMachinery 2023-03-31 06652862 core:PlantMachinery 2024-03-31 06652862 2023-04-01 2024-03-31 06652862 bus:FilletedAccounts 2023-04-01 2024-03-31 06652862 bus:SmallEntities 2023-04-01 2024-03-31 06652862 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06652862 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06652862 bus:Director1 2023-04-01 2024-03-31 06652862 bus:Director2 2023-04-01 2024-03-31 06652862 core:PlantMachinery 2023-04-01 2024-03-31 06652862 2022-04-01 2023-03-31 06652862 1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 06652862 (England and Wales)

KEYSLEY STORE LIMITED

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

KEYSLEY STORE LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

KEYSLEY STORE LIMITED

BALANCE SHEET

As at 31 March 2024
KEYSLEY STORE LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 75,692 83,518
75,692 83,518
Current assets
Debtors 4 147,844 245,965
Cash at bank and in hand 86,313 108,091
234,157 354,056
Creditors: amounts falling due within one year 5 ( 38,791) ( 219,808)
Net current assets 195,366 134,248
Total assets less current liabilities 271,058 217,766
Provision for liabilities ( 18,923) ( 20,880)
Net assets 252,135 196,886
Capital and reserves
Called-up share capital 100 100
Profit and loss account 252,035 196,786
Total shareholder's funds 252,135 196,886

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 Keysley Store Limited (registered number: 06652862) were approved and authorised for issue by the Board of Directors on 26 November 2024. They were signed on its behalf by:

Colin Michael John Godwin
Director
Sarah Margaret Godwin
Director
KEYSLEY STORE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
KEYSLEY STORE 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

Keysley Store 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 Hitchcock House Hilltop Park, Devizes Road, Salisbury, SP3 4UF, 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 £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
It is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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 Balance Sheet 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 April 2023 99,499 99,499
Additions 5,342 5,342
At 31 March 2024 104,841 104,841
Accumulated depreciation
At 01 April 2023 15,981 15,981
Charge for the financial year 13,168 13,168
At 31 March 2024 29,149 29,149
Net book value
At 31 March 2024 75,692 75,692
At 31 March 2023 83,518 83,518

4. Debtors

2024 2023
£ £
Trade debtors 52,785 227,384
Amounts owed by Group undertakings 92,733 0
Other debtors 2,326 18,581
147,844 245,965

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 3,324 15,989
Amounts owed to Group undertakings 0 59,830
Taxation and social security 31,520 137,762
Other creditors 3,947 6,227
38,791 219,808

6. Ultimate controlling party

Parent Company:

Keysley Limited, incorporated in England and Wales.

The ultimate controlling party is Mr C Godwin and Mrs S Godwin.