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Company registration number: 12612737
Keyline UK Logistics & Trading Company Limited
Unaudited filleted financial statements
31 May 2024
Keyline UK Logistics & Trading Company Limited
Contents
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Keyline UK Logistics & Trading Company Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Keyline UK Logistics & Trading Company Limited
Year ended 31 May 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 May 2024 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Benchmark Accounting Services
187 High Road
Leyton
London
E15 2BY
5 February 2025
Keyline UK Logistics & Trading Company Limited
Statement of financial position
31 May 2024
2024 2023
Note £ £ £ £
Current assets
Debtors 6 16,000 10,520
Cash at bank and in hand 7,770 542
_______ _______
23,770 11,062
Creditors: amounts falling due
within one year 7 ( 31,544) ( 17,081)
_______ _______
Net current liabilities ( 7,774) ( 6,019)
_______ _______
Total assets less current liabilities ( 7,774) ( 6,019)
_______ _______
Net liabilities ( 7,774) ( 6,019)
_______ _______
Capital and reserves
Called up share capital 5,000 5,000
Profit and loss account ( 12,774) ( 11,019)
_______ _______
Shareholder deficit ( 7,774) ( 6,019)
_______ _______
For the year 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 05 February 2025 , and are signed on behalf of the board by:
Mr Ural Turan
Director
Company registration number: 12612737
Keyline UK Logistics & Trading Company Limited
Statement of changes in equity
Year ended 31 May 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 June 2022 5,000 ( 2,909) 2,091
Loss for the year ( 8,110) ( 8,110)
_______ _______ _______
Total comprehensive income for the year - ( 8,110) ( 8,110)
_______ _______ _______
At 31 May 2023 and 1 June 2023 5,000 ( 11,019) ( 6,019)
Loss for the year ( 1,755) ( 1,755)
_______ _______ _______
Total comprehensive income for the year - ( 1,755) ( 1,755)
_______ _______ _______
At 31 May 2024 5,000 ( 12,774) ( 7,774)
_______ _______ _______
Keyline UK Logistics & Trading Company Limited
Notes to the financial statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in UK. The address of the registered office is 187 High Road, Leyton, London, E15 2BY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Staff costs
The aggregate payroll costs incurred during the year were:
2024 2023
£ £
Wages and salaries 9,000 9,000
_______ _______
5. Staff costs
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
The aggregate payroll costs incurred during the year were:
2024 2023
£ £
Wages and salaries 9,000 9,000
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors 16,000 9,800
Other debtors - 720
_______ _______
16,000 10,520
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 12,098 6,135
Other creditors 19,446 10,946
_______ _______
31,544 17,081
_______ _______