Silverfin false false 30/06/2024 01/12/2023 30/06/2024 K P M De Patoul 03/11/2021 B P Howell 01/11/2022 01 April 2025 The principal activity of the Company during the financial period was provision of consultancy services. 13722013 2024-06-30 13722013 bus:Director1 2024-06-30 13722013 bus:Director2 2024-06-30 13722013 2023-11-30 13722013 core:CurrentFinancialInstruments 2024-06-30 13722013 core:CurrentFinancialInstruments 2023-11-30 13722013 core:ShareCapital 2024-06-30 13722013 core:ShareCapital 2023-11-30 13722013 core:RetainedEarningsAccumulatedLosses 2024-06-30 13722013 core:RetainedEarningsAccumulatedLosses 2023-11-30 13722013 core:ComputerEquipment 2023-11-30 13722013 core:ComputerEquipment 2024-06-30 13722013 core:CostValuation 2023-11-30 13722013 core:CostValuation 2024-06-30 13722013 core:ImmediateParent core:CurrentFinancialInstruments 2024-06-30 13722013 core:ImmediateParent core:CurrentFinancialInstruments 2023-11-30 13722013 bus:OrdinaryShareClass1 2024-06-30 13722013 2023-12-01 2024-06-30 13722013 bus:FilletedAccounts 2023-12-01 2024-06-30 13722013 bus:SmallEntities 2023-12-01 2024-06-30 13722013 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-06-30 13722013 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-06-30 13722013 bus:Director1 2023-12-01 2024-06-30 13722013 bus:Director2 2023-12-01 2024-06-30 13722013 core:ComputerEquipment core:TopRangeValue 2023-12-01 2024-06-30 13722013 2022-12-01 2023-11-30 13722013 core:ComputerEquipment 2023-12-01 2024-06-30 13722013 core:ComputerEquipment 1 2023-12-01 2024-06-30 13722013 1 2023-12-01 2024-06-30 13722013 bus:OrdinaryShareClass1 2023-12-01 2024-06-30 13722013 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 13722013 1 2023-12-01 2024-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13722013 (England and Wales)

KEYROCK UK LIMITED

Unaudited Financial Statements
For the financial period from 01 December 2023 to 30 June 2024
Pages for filing with the registrar

KEYROCK UK LIMITED

Unaudited Financial Statements

For the financial period from 01 December 2023 to 30 June 2024

Contents

KEYROCK UK LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
KEYROCK UK LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 30.06.2024 30.11.2023
£ £
Fixed assets
Tangible assets 3 2,074 2,876
Investments 4 404 404
2,478 3,280
Current assets
Debtors 5 168,414 1,023,818
168,414 1,023,818
Creditors: amounts falling due within one year 6 ( 109,245) ( 1,001,921)
Net current assets 59,169 21,897
Total assets less current liabilities 61,647 25,177
Net assets 61,647 25,177
Capital and reserves
Called-up share capital 7 1 1
Profit and loss account 61,646 25,176
Total shareholder's funds 61,647 25,177

For the financial period 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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Keyrock UK Limited (registered number: 13722013) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

K P M De Patoul
Director
B P Howell
Director

01 April 2025

KEYROCK UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 December 2023 to 30 June 2024
KEYROCK UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 December 2023 to 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Keyrock UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net assets of £61,647. The company is supported through loans from the Parent Company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

On 4 November 2024, the Company shortened its accounting reference date to 30 June 2024 in order to be in line with other group companies period ends. As a result, these financial statements cover the 7 month period from 1 December 2023 to 30 June 2024 and the comparative amounts presented in the financial statements including the related notes are therefore not entirely comparable.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the contract;
* the stage of completion of the contract at the end of the reporting period can be measured reliably; and
* the costs incurred and the costs to complete the contract can be measured reliably.

Employee benefits

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included in other creditors in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities.

Financial assets
Basic financial assets are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

Period from
01.12.2023 to
30.06.2024
Year ended
30.11.2023
Number Number
Monthly average number of persons employed by the company during the period, including directors 11 7

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 December 2023 4,127 4,127
At 30 June 2024 4,127 4,127
Accumulated depreciation
At 01 December 2023 1,251 1,251
Charge for the financial period 802 802
Rounding error 0 0
At 30 June 2024 2,053 2,053
Net book value
At 30 June 2024 2,074 2,074
At 30 November 2023 2,876 2,876

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 December 2023 404 404
At 30 June 2024 404 404
Carrying value at 30 June 2024 404 404
Carrying value at 30 November 2023 404 404

5. Debtors

30.06.2024 30.11.2023
£ £
Amounts owed by group undertakings 152,790 0
Prepayments and accrued income 900 1,009,094
Other debtors 14,724 14,724
168,414 1,023,818

6. Creditors: amounts falling due within one year

30.06.2024 30.11.2023
£ £
Trade creditors 1,124 1,202
Amounts owed to parent undertakings 0 979,183
Accruals 10,200 3,000
Corporation tax 19,475 7,734
Other taxation and social security 30,926 0
Other creditors 47,520 10,802
109,245 1,001,921

7. Called-up share capital

30.06.2024 30.11.2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

8. Related party transactions

Included within amounts owed to group undertakings is £152,761 due from (2023: 979,183 due to) the parent company. Interest was charged on the loan of £8,986 (2023: £14,993). The balance is unsecured, interest bearing and has no fixed repayment terms.

9. Ultimate controlling party

Parent Company:

Keyrock SA
Avenue Louise 480
1050 Ixelles
Belgium

There is no ultimate controlling party.