Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 | ||||||
Current assets | |||||||
Debtors | 4 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 5 | ( |
( |
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Net current assets | |||||||
Total assets less current liabilities | |||||||
Provisions for liabilities | ( |
( |
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Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Share premium | |||||||
Capital redemption | 664,000 | 664,000 | |||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
B Hughes | L Davis | ||||||
Director | Director | ||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. 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 financial instruments at fair value. The principal accounting policies adopted are set out below. |
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Going concern | ||||||||
The directors have a reasonable expectation that the company has adequate resources, liquidity, and bank facilities to continue in operational existence for the foreseeable future. As at the date of approving these accounts the directors are satisfied that the accounts should continue to be prepared on a going concern basis. | ||||||||
Turnover and other operating income | ||||||||
Other operating income includes rent receivable from investment property net of VAT. Rentals are recognised over the period to which they relate. |
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Investment property | ||||||||
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. | ||||||||
Basic financial assets (debtors) | ||||||||
Basic financial liabilities (creditors) | ||||||||
Taxation | ||||||||
Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Deferred tax Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority. |
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2 | Employees | 2024 | 2023 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Investment property | 2023 | ||||||
£ | ||||||||
Fair value | ||||||||
At 1 October 2023 | 1,300,000 | |||||||
Revaluation in year to fair value | - | |||||||
At 30 September 2024 | 1,300,000 | |||||||
The fair value of the investment property has been arrived at on the basis of a valuation carried out at each year end by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors believe there has been no change in the fair value from last year. | ||||||||
4 | Debtors | 2024 | 2023 | |||||
£ | £ | |||||||
Other debtors | ||||||||
5 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
6 | Controlling party | |||||||
7 | Other information | |||||||
Keenskill Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
Oak Tree | ||||||||
Tadmarton Road | ||||||||
Bloxham | ||||||||
Banbury | ||||||||
OX15 4JA |