Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Colin Michael John Godwin 21/02/2003 Sarah Margaret Godwin 21/02/2003 26 November 2024 The principal activity of the company is the growing of cereals, leguminous crops and oil seeds as well as wedding venue hire and solar energy. 04674562 2024-03-31 04674562 bus:Director1 2024-03-31 04674562 bus:Director2 2024-03-31 04674562 2023-03-31 04674562 core:CurrentFinancialInstruments 2024-03-31 04674562 core:CurrentFinancialInstruments 2023-03-31 04674562 core:Non-currentFinancialInstruments 2024-03-31 04674562 core:Non-currentFinancialInstruments 2023-03-31 04674562 core:ShareCapital 2024-03-31 04674562 core:ShareCapital 2023-03-31 04674562 core:RetainedEarningsAccumulatedLosses 2024-03-31 04674562 core:RetainedEarningsAccumulatedLosses 2023-03-31 04674562 core:Goodwill 2023-03-31 04674562 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill 2023-03-31 04674562 core:OtherResidualIntangibleAssets 2023-03-31 04674562 core:Goodwill 2024-03-31 04674562 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill 2024-03-31 04674562 core:OtherResidualIntangibleAssets 2024-03-31 04674562 core:LandBuildings 2023-03-31 04674562 core:PlantMachinery 2023-03-31 04674562 core:Vehicles 2023-03-31 04674562 core:OfficeEquipment 2023-03-31 04674562 core:LandBuildings 2024-03-31 04674562 core:PlantMachinery 2024-03-31 04674562 core:Vehicles 2024-03-31 04674562 core:OfficeEquipment 2024-03-31 04674562 core:CostValuation 2023-03-31 04674562 core:CostValuation 2024-03-31 04674562 2023-04-01 2024-03-31 04674562 bus:FilletedAccounts 2023-04-01 2024-03-31 04674562 bus:SmallEntities 2023-04-01 2024-03-31 04674562 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04674562 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04674562 bus:Director1 2023-04-01 2024-03-31 04674562 bus:Director2 2023-04-01 2024-03-31 04674562 core:Goodwill core:TopRangeValue 2023-04-01 2024-03-31 04674562 core:LandBuildings 2023-04-01 2024-03-31 04674562 core:PlantMachinery 2023-04-01 2024-03-31 04674562 core:Vehicles 2023-04-01 2024-03-31 04674562 core:OfficeEquipment 2023-04-01 2024-03-31 04674562 2022-04-01 2023-03-31 04674562 core:Goodwill 2023-04-01 2024-03-31 04674562 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill 2023-04-01 2024-03-31 04674562 core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 04674562 (England and Wales)

KEYSLEY LIMITED

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

KEYSLEY LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

KEYSLEY LIMITED

BALANCE SHEET

As at 31 March 2024
KEYSLEY LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 5,000 10,000
Tangible assets 4 2,327,635 1,910,348
Investments 5 215 215
2,332,850 1,920,563
Current assets
Stocks 481,779 384,718
Debtors 6 595,022 159,976
Cash at bank and in hand 1,279,295 2,001,025
2,356,096 2,545,719
Creditors: amounts falling due within one year 7 ( 469,211) ( 406,553)
Net current assets 1,886,885 2,139,166
Total assets less current liabilities 4,219,735 4,059,729
Creditors: amounts falling due after more than one year 0 ( 23,750)
Provision for liabilities ( 172,870) ( 180,432)
Net assets 4,046,865 3,855,547
Capital and reserves
Called-up share capital 2 2
Profit and loss account 4,046,863 3,855,545
Total shareholders' funds 4,046,865 3,855,547

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 Limited (registered number: 04674562) 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 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
KEYSLEY 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 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 the revaluation of freehold properties and to include investment properties and 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
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Entitlements not amortised
Other intangible assets not amortised
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:

Land and buildings 2 % reducing balance
Plant and machinery 5 - 25 % reducing balance
Vehicles 20 % reducing balance
Office equipment 20 % 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.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and past periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Intangible assets

Goodwill Entitlements Other intangible assets Total
£ £ £ £
Cost
At 01 April 2023 100,000 23,459 1,400 124,859
At 31 March 2024 100,000 23,459 1,400 124,859
Accumulated amortisation
At 01 April 2023 90,000 23,459 1,400 114,859
Charge for the financial year 5,000 0 0 5,000
At 31 March 2024 95,000 23,459 1,400 119,859
Net book value
At 31 March 2024 5,000 0 0 5,000
At 31 March 2023 10,000 0 0 10,000

4. Tangible assets

Land and buildings Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 April 2023 1,210,402 1,450,976 15,794 6,224 2,683,396
Additions 475,931 141,808 0 708 618,447
Disposals 0 ( 119,060) 0 0 ( 119,060)
At 31 March 2024 1,686,333 1,473,724 15,794 6,932 3,182,783
Accumulated depreciation
At 01 April 2023 119,478 649,766 0 3,804 773,048
Charge for the financial year 21,904 70,861 3,159 625 96,549
Disposals 0 ( 14,449) 0 0 ( 14,449)
At 31 March 2024 141,382 706,178 3,159 4,429 855,148
Net book value
At 31 March 2024 1,544,951 767,546 12,635 2,503 2,327,635
At 31 March 2023 1,090,924 801,210 15,794 2,420 1,910,348

Included within the net book value of land and buildings above is £1,544,951 (2023 - £1,090,924) in respect of freehold land and buildings and £Nil (2023 - £Nil) in respect of long leasehold land and buildings.

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 April 2023 215 215
At 31 March 2024 215 215
Carrying value at 31 March 2024 215 215
Carrying value at 31 March 2023 215 215

6. Debtors

2024 2023
£ £
Trade debtors 329,148 23,190
Amounts owed by Group undertakings 0 59,829
Other debtors 265,874 76,957
595,022 159,976

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 21,500 19,250
Trade creditors 145,760 120,724
Amounts owed to Group undertakings 92,733 0
Accruals 72,002 85,851
Taxation and social security 137,216 111,870
Other creditors 0 68,858
469,211 406,553

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Balance b/fwd (68,859) 0
Advanced 385,180 0
Repaid (100,540) 0
Balance c/fwd 215,781 0