Registration number:
KEG Contracts Ltd
for the Period from 1 April 2023 to 31 May 2024
KEG Contracts Ltd
Contents
Company Information |
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Director's Report |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
KEG Contracts Ltd
Company Information
Director |
Mr Mark Philip Gudgeon |
Registered office |
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Accountants |
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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:
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
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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.
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Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ
KEG Contracts Ltd
(Registration number: 11855329)
Balance Sheet as at 31 May 2024
Note |
31 May |
31 March |
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Fixed assets |
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Investment property |
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- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
136,685 |
93,519 |
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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:
• |
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• |
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
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KEG Contracts Ltd
Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 May 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales .
The address of its registered office is:
These financial statements were authorised for issue by the
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
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.
Staff numbers |
The average number of persons employed by the company during the period, was
KEG Contracts Ltd
Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 May 2024
Investment properties |
2024 |
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Additions |
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At 31 May |
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There has been no valuation of investment property by an independent valuer.
Debtors |
31 May |
31 March |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
Note |
31 May |
31 March |
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Due within one year |
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Taxation and social security |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
31 May |
31 March |
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No. |
£ |
No. |
£ |
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1 |
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1 |
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.