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REGISTERED NUMBER: 10796719 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

KEYVISION DEVELOPMENTS LIMITED

KEYVISION DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10796719)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KEYVISION DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mr S Constantinou





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: 10796719 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

KEYVISION DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10796719)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,913 23,642

CURRENT ASSETS
Stocks 5 377,608 176,227
Debtors 6 480 4,811
Cash at bank - 27,822
378,088 208,860
CREDITORS
Amounts falling due within one year 7 369,518 153,090
NET CURRENT ASSETS 8,570 55,770
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,483

79,412

CREDITORS
Amounts falling due after more than one
year

8

21,065

37,470
NET ASSETS 6,418 41,942

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 6,318 41,842
SHAREHOLDERS' FUNDS 6,418 41,942

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

KEYVISION DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10796719)

BALANCE SHEET - continued
31 MAY 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 January 2025 and were signed by:





Mr S Constantinou - Director


KEYVISION DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10796719)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Keyvision Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised on a straight-line basis over the specified period unless there is evidence that some other method better represents the stage of completion. When a specific act is much more significant than any other act, revenue recognition is postponed until the significant act is executed. This is stated after trade discounts and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on reducing balance

Stocks
Stock consists of materials and supplies to be consumed in the rendering of service. Stocks are stated at the lower of cost and net realisable value. Net realisable value is the estimated selling price of the services less the applicable costs of conversion to complete the services and variable selling expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

KEYVISION DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10796719)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 June 2023
and 31 May 2024 36,940
DEPRECIATION
At 1 June 2023 13,298
Charge for year 4,729
At 31 May 2024 18,027
NET BOOK VALUE
At 31 May 2024 18,913
At 31 May 2023 23,642

5. STOCKS
31.5.24 31.5.23
£    £   
Stocks 377,608 176,227

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Tax 448 2,369
VAT 32 2,442
480 4,811

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts (see note 9) 9,974 9,540
Hire purchase contracts 6,866 6,866
Trade creditors 2,783 1,152
Social security and other taxes - 566
Net Wages 1,810 1,810
Other creditors 317,886 102,886
Amounts owed to related parties 27,000 27,000
Directors' current accounts 649 870
Accrued expenses 2,550 2,400
369,518 153,090

KEYVISION DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10796719)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans (see note 9) 12,483 22,022
Hire purchase contracts 8,582 15,448
21,065 37,470

9. LOANS

An analysis of the maturity of loans is given below:

31.5.24 31.5.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 434 -
Bank loans 9,540 9,540
9,974 9,540

Amounts falling due between one and two years:
Bank loans - 1-2 years 9,540 9,540

Amounts falling due between two and five years:
Bank loans - 2-5 years 2,943 12,482

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary share capital 1 100 100