Company registration number 14270714 (England and Wales)
KEYCLIMB LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
KEYCLIMB LIMITED
COMPANY INFORMATION
Directors
Mr Sukal Verma
Mrs Manpreet Verma
Company number
14270714
Registered office
11 Bilbrook Lane
Furzton
Milton Keynes
MK4 1LW
Accountants
Koshal Associates (Chartered Accountants)
1-3 Shenley Avenue
Ruislip Manor
Middlesex
HA4 6BP
KEYCLIMB LIMITED
CONTENTS
Page
Balance sheet
2
Notes to the financial statements
3 - 4
KEYCLIMB LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF KEYCLIMB LIMITED FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Keyclimb Limited for the year ended 31 August 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
It is your duty to ensure that Keyclimb Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Keyclimb Limited. You consider that Keyclimb Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Keyclimb Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Koshal Associates (Chartered Accountants)
1 April 2025
Gautam House
1-3 Shenley Avenue
Middlesex
HA4 6BP
KEYCLIMB LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
229,852
230,663
Current assets
Cash at bank and in hand
5,414
1,844
Creditors: amounts falling due within one year
4
(67,862)
(70,941)
Net current liabilities
(62,448)
(69,097)
Total assets less current liabilities
167,404
161,566
Creditors: amounts falling due after more than one year
5
(163,500)
(163,500)
Net assets/(liabilities)
3,904
(1,934)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
3,902
(1,936)
Total equity
3,904
(1,934)
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 1 April 2025 and are signed on its behalf by:
Mr Sukal Verma
Director
Company registration number 14270714 (England and Wales)
KEYCLIMB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information
Keyclimb Limited is a private company limited by shares incorporated in England and Wales. The registered office is 11 Bilbrook Lane, Furzton, Milton Keynes, MK4 1LW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
N/A
Fixtures and fittings
25% reducing balance
1.4
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
KEYCLIMB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
3
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 September 2023 and 31 August 2024
227,419
4,325
231,744
Depreciation and impairment
At 1 September 2023
1,081
1,081
Depreciation charged in the year
811
811
At 31 August 2024
1,892
1,892
Carrying amount
At 31 August 2024
227,419
2,433
229,852
At 31 August 2023
227,419
3,244
230,663
4
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
344
Other creditors
67,518
70,941
67,862
70,941
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
163,500
163,500