Registered number
SC269107
KEYPOINT TECHNOLOGIES (UK) LIMITED
Filleted Accounts
30 June 2024
KEYPOINT TECHNOLOGIES (UK) LIMITED
Registered number: SC269107
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 39,299 60,830
Current assets
Debtors 4 479,006 588,862
Investments held as current assets 5 13,478,934 13,478,934
Cash at bank and in hand 20,787 34,958
13,978,727 14,102,754
Creditors: amounts falling due within one year 6 (6,435,874) (5,599,432)
Net current assets 7,542,853 8,503,322
Total assets less current liabilities 7,582,152 8,564,152
Creditors: amounts falling due after more than one year 7 (19,801,393) (19,321,393)
Net liabilities (12,219,241) (10,757,241)
Capital and reserves
Called up share capital 8,076 8,076
Share premium 11,812,552 11,812,552
Profit and loss account (24,039,869) (22,577,869)
Shareholders' funds (12,219,241) (10,757,241)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Motaparti
Director
Approved by the board on 25 March 2025
KEYPOINT TECHNOLOGIES (UK) LIMITED
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Patents and licences:
Cost
At 1 July 2023 213,959
At 30 June 2024 213,959
Amortisation
At 1 July 2023 153,129
Provided during the year 21,531
At 30 June 2024 174,660
Net book value
At 30 June 2024 39,299
At 30 June 2023 60,830
Costs incurred relating to patents, licenses and intellectual property rights are being written off over their estimated useful life of ten years.
4 Debtors 2024 2023
£ £
Prepayments 122,694 239,381
Other debtors 356,312 349,481
479,006 588,862
5 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 13,478,934 13,478,934
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,621 21,648
Taxation and social security costs (153) 221
Other creditors 6,434,406 5,577,563
6,435,874 5,599,432
7 Creditors: amounts falling due after one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 103,016 103,016
Other creditors 19,698,377 19,218,377
19,801,393 19,321,393
8 Other information
KEYPOINT TECHNOLOGIES (UK) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
1 Ainslie Road
Hillington Park
Glasgow
Scotland
G52 4RU
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