1 December 2023 v2025.12.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP110792942023-12-012024-11-30110792942024-11-30110792942023-11-3011079294core:WithinOneYear2024-11-3011079294core:WithinOneYear2023-11-3011079294core:ShareCapital2024-11-3011079294core:ShareCapital2023-11-3011079294core:RetainedEarningsAccumulatedLosses2024-11-3011079294core:RetainedEarningsAccumulatedLosses2023-11-3011079294bus:Director12023-12-012024-11-3011079294bus:Director22023-12-012024-11-3011079294bus:RegisteredOffice2023-12-012024-11-3011079294core:LandBuildings2023-12-012024-11-3011079294core:OfficeEquipment2023-12-012024-11-3011079294core:FurnitureFittings2023-12-012024-11-30110792942022-12-012023-11-3011079294core:PlantMachinery2023-12-01110792942023-12-0111079294core:PlantMachinery2023-12-012024-11-3011079294core:PlantMachinery2024-11-3011079294core:PlantMachinery2023-11-301107929412023-12-012024-11-3011079294countries:EnglandWales2023-12-012024-11-3011079294bus:AuditExemptWithAccountantsReport2023-12-012024-11-3011079294bus:PrivateLimitedCompanyLtd2023-12-012024-11-3011079294bus:SmallEntities2023-12-012024-11-3011079294bus:FullAccounts2023-12-012024-11-30
Company registration number:
11079294
Key 2 Moving On Limited
Unaudited Filleted Financial Statements for the year ended
30 November 2024
Key 2 Moving On Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Key 2 Moving On Limited
Year ended
30 November 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Key 2 Moving On Limited
for the year ended
30 November 2024
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
Key 2 Moving On Limited
, as a body, in accordance with the terms of my engagement letter dated 8 March 2024. My work has been undertaken solely to prepare for your approval the
financial statements
of
Key 2 Moving On Limited
and state those matters that I have agreed to state to the Board of Directors of
Key 2 Moving On Limited
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​tf-163-jan-24.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Key 2 Moving On Limited
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Key 2 Moving On 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
Key 2 Moving On Limited
. You consider that
Key 2 Moving On Limited
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Key 2 Moving On Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
NWD Accountancy Limited
Chartered Certified Accountants
Business Central
2 Union Square
Darlington
County Durham
DL1 1GL
United Kingdom
Date:
27 February 2025
Key 2 Moving On Limited
Statement of Financial Position
30 November 2024
20242023
Note££
Fixed assets    
Tangible assets 5
17,566
 
21,310
 
Current assets    
Debtors 6
396,367
 
442,761
 
Cash at bank and in hand
33,883
 
229,436
 
430,250
 
672,197
 
Creditors: amounts falling due within one year 7
(119,791
)
(243,327
)
Net current assets
310,459
 
428,870
 
Total assets less current liabilities 328,025   450,180  
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
327,925
 
450,080
 
Shareholders funds
328,025
 
450,180
 
For the year ending
30 November 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act 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.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
27 February 2025
, and are signed on behalf of the board by:
L Ashton
I Khan
DirectorDirector
Company registration number:
11079294
Key 2 Moving On Limited
Notes to the Financial Statements
Year ended
30 November 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Business Central 2 Union Square
,
Central Park
,
Darlington
,
County Durham
,
DL1 1GL
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
10% straight line
Office equipment
10% straight line
Fixtures and fittings
15% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2023:
27
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 December 2023
-  
39,213
 
39,213
 
Additions -  
1,698
 
1,698
 
At
30 November 2024
-  
40,911
 
40,911
 
Depreciation      
At
1 December 2023
-  
17,903
 
17,903
 
Charge -  
5,442
 
5,442
 
At
30 November 2024
-  
23,345
 
23,345
 
Carrying amount      
At
30 November 2024
-  
17,566
 
17,566
 
At 30 November 2023 -  
21,310
 
21,310
 

6 Debtors

20242023
££
Trade debtors
83,880
 
315,580
 
Other debtors
312,487
 
127,181
 
396,367
 
442,761
 

7 Creditors: amounts falling due within one year

20242023
££
Taxation and social security
114,320
 
137,577
 
Other creditors
5,471
 
105,750
 
119,791
 
243,327