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REGISTERED NUMBER: 03768118 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

KEY RED LIMITED

KEY RED LIMITED (REGISTERED NUMBER: 03768118)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KEY RED LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTOR: M J O Holmstrom-Terefe





SECRETARY: K Terefe





REGISTERED OFFICE: 107 Hindes Road
Harrow
Middlesex
HA1 1RU





BUSINESS ADDRESS: Kensaltown Recording Studios
249 Kensal Road
London
W10 5DB





REGISTERED NUMBER: 03768118 (England and Wales)





ACCOUNTANTS: Hill Wooldridge & Co.
Chartered Accountants
107 Hindes Road
Harrow
Middlesex
HA1 1RU

KEY RED LIMITED (REGISTERED NUMBER: 03768118)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 127,920 158,500

CURRENT ASSETS
Debtors 5 358,030 401,602
Investments 6 659,393 771,331
Cash at bank 168,858 123,791
1,186,281 1,296,724
CREDITORS
Amounts falling due within one year 7 578,084 675,268
NET CURRENT ASSETS 608,197 621,456
TOTAL ASSETS LESS CURRENT
LIABILITIES

736,117

779,956

CREDITORS
Amounts falling due after more than one
year

8

(29,727

)

(37,482

)

PROVISIONS FOR LIABILITIES (24,130 ) (26,600 )
NET ASSETS 682,260 715,874

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 682,258 715,872
682,260 715,874

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 March 2025 and were signed by:



M J O Holmstrom-Terefe - Director


KEY RED LIMITED (REGISTERED NUMBER: 03768118)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Key Red 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax 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.
Plant and machinery etc - at varying rates on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

KEY RED LIMITED (REGISTERED NUMBER: 03768118)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 2,500 872,350 874,850
Additions - 11,333 11,333
At 31 March 2024 2,500 883,683 886,183
DEPRECIATION
At 1 April 2023 2,500 713,850 716,350
Charge for year - 41,913 41,913
At 31 March 2024 2,500 755,763 758,263
NET BOOK VALUE
At 31 March 2024 - 127,920 127,920
At 31 March 2023 - 158,500 158,500

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 149,504 198,011
Other debtors 208,526 203,591
358,030 401,602

6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 659,393 771,331

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 79,544 95,752
Taxation and social security 124,844 53,346
Other creditors 373,696 526,170
578,084 675,268

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 29,727 37,482

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 29,727 37,482