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Registration number: 12679825

GoldKey Properties Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

GoldKey Properties Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

GoldKey Properties Ltd

Company Information

Directors

BR Tshuma

Mrs JA Jackson-Tshuma

Registered office

Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

GoldKey Properties Ltd

(Registration number: 12679825)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

67

107

Investment property

5

235,000

226,436

 

235,067

226,543

Current assets

 

Debtors

6

200

-

Cash at bank and in hand

 

5,456

5,183

 

5,656

5,183

Creditors: Amounts falling due within one year

7

(216,585)

(218,215)

Net current liabilities

 

(210,929)

(213,032)

Total assets less current liabilities

 

24,138

13,511

Provisions for liabilities

(9,817)

(5,834)

Net assets

 

14,321

7,677

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

14,319

7,675

Shareholders' funds

 

14,321

7,677

 

GoldKey Properties Ltd

(Registration number: 12679825)
Balance Sheet as at 30 June 2024

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 March 2025 and signed on its behalf by:
 

.........................................
BR Tshuma
Director

 

GoldKey Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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:
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS
England

These financial statements were authorised for issue by the Board on 4 March 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

GoldKey Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tax

The tax expense for the period comprises deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

GoldKey Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

Additions

120

120

At 30 June 2024

120

120

Depreciation

At 1 July 2023

13

13

Charge for the year

40

40

At 30 June 2024

53

53

Carrying amount

At 30 June 2024

67

67

At 30 June 2023

107

107

5

Investment properties

2024
£

At 1 July

226,436

Fair value adjustments

8,564

At 30 June

235,000

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

6

Debtors

Current

2024
£

2023
£

Other debtors

200

-

 

200

-

 

GoldKey Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

159,490

159,490

Accruals and deferred income

 

1,800

1,680

Other creditors

 

55,295

57,045

 

216,585

218,215

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary 'A' Share of £1 each

1

1

1

1

Ordinary 'B' Share of £1 each

1

1

1

1

2

2

2

2

 

GoldKey Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

159,490

159,490

10

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

At 30 June 2024
£

BR Tshuma

(5,398)

875

(4,523)

Mrs JA Jackson-Tshuma

(51,647)

875

(50,772)

2023

At 1 July 2022
£

Advances to director
£

At 30 June 2023
£

BR Tshuma

(23,048)

17,650

(5,398)

Mrs JA Jackson-Tshuma

(55,237)

3,590

(51,647)