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Registration number: 11855329

KEG Contracts Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 April 2023 to 31 May 2024

 

KEG Contracts Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 7

 

KEG Contracts Ltd

Company Information

Director

Mr Mark Philip Gudgeon

Registered office

Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

Accountants

Pattinsons Business Services Ltd 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

 

KEG Contracts Ltd

Director's Report for the Period from 1 April 2023 to 31 May 2024

The director presents his report and the financial statements for the period from 1 April 2023 to 31 May 2024.

Director of the company

The director who held office during the period was as follows:

Mr Mark Philip Gudgeon

Principal activity

The principal activity of the company is that of landscape service activities.

Going concern

The company ceased to trade on 31 May 2024 and the financial statements have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the company’s assets down to net realisable value. Provisions have also been made in respect of contracts which have become onerous at the reporting date. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 13 February 2025 and signed on its behalf by:

.........................................
Mr Mark Philip Gudgeon
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
KEG Contracts Ltd
for the Period Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of KEG Contracts Ltd for the period ended 31 May 2024 as set out on pages 4 to 7 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of KEG Contracts Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of KEG Contracts Ltd and state those matters that we have agreed to state to the Board of Directors of KEG Contracts Ltd , as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KEG Contracts Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that KEG Contracts Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of KEG Contracts Ltd . You consider that KEG Contracts Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of KEG Contracts Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Pattinsons Business Services Ltd
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

13 February 2025

 

KEG Contracts Ltd

(Registration number: 11855329)
Balance Sheet as at 31 May 2024

Note

31 May
2024
£

31 March
2023
£

Fixed assets

 

Investment property

4

107,418

-

Current assets

 

Debtors

5

1

47

Cash at bank and in hand

 

124,070

167,087

 

124,071

167,134

Creditors: Amounts falling due within one year

6

(94,803)

(73,614)

Net current assets

 

29,268

93,520

Net assets

 

136,686

93,520

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

136,685

93,519

Shareholders' funds

 

136,686

93,520

For the financial period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 13 February 2025
 

.........................................
Mr Mark Philip Gudgeon
Director

 

KEG Contracts Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales .

The address of its registered office is:
Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

These financial statements were authorised for issue by the director on 13 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

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 sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises 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 income 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.

 

KEG Contracts Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 May 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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 prior 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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks, other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company during the period, was 0 (2023 - 0).

 

KEG Contracts Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 May 2024

4

Investment properties

2024
£

Additions

107,418

At 31 May

107,418

There has been no valuation of investment property by an independent valuer.

5

Debtors

31 May
2024
£

31 March
2023
£

Prepayments

1

47

1

47

6

Creditors

Creditors: amounts falling due within one year

Note

31 May
2024
£

31 March
2023
£

Due within one year

 

Taxation and social security

 

17,885

17,650

Other creditors

 

76,918

55,964

 

94,803

73,614

7

Share capital

Allotted, called up and fully paid shares

31 May
2024

31 March
2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

8

Related party transactions


Fincher Ltd
During the year the company advanced funds totalling £19,000 (2023: £150,000) to and received £13,632 (2023: £276,432) from Fincher Ltd, a company under common control. At the end of the year £49,228 was outstanding (2023: £54,596) in relation to this balance.