2 2 G H Keylock Limited 00664417 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is letting of own property. Digita Accounts Production Advanced 6.30.9574.0 true 00664417 2023-08-01 2024-07-31 00664417 2024-07-31 00664417 core:CurrentFinancialInstruments 2024-07-31 00664417 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 00664417 core:FurnitureFittings 2024-07-31 00664417 core:LandBuildings core:OwnedOrFreeholdAssets 2024-07-31 00664417 bus:SmallEntities 2023-08-01 2024-07-31 00664417 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 00664417 bus:FilletedAccounts 2023-08-01 2024-07-31 00664417 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 00664417 bus:RegisteredOffice 2023-08-01 2024-07-31 00664417 bus:CompanySecretary1 2023-08-01 2024-07-31 00664417 bus:Director1 2023-08-01 2024-07-31 00664417 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 00664417 bus:Agent1 2023-08-01 2024-07-31 00664417 core:FurnitureFittings 2023-08-01 2024-07-31 00664417 countries:EnglandWales 2023-08-01 2024-07-31 00664417 2023-07-31 00664417 core:FurnitureFittings 2023-07-31 00664417 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-31 00664417 2022-08-01 2023-07-31 00664417 2023-07-31 00664417 core:CurrentFinancialInstruments 2023-07-31 00664417 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 00664417 core:FurnitureFittings 2023-07-31 00664417 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-31 xbrli:pure iso4217:GBP

Registration number: 00664417

G H Keylock Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

G H Keylock Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

G H Keylock Limited

Company Information

Director

Mr C D J Keylock

Company secretary

Mrs C L Keylock

Registered office

Beech House
Lion Street
Hay On Wye
Powys
HR3 5AD

Bankers

Barclays Bank plc
Gateway Centre
Monk Street
Abergavenny
NP7 5ND

Accountants

W J James & Co
Chartered AccountantsBishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

G H Keylock Limited

(Registration number: 00664417)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

900,000

900,000

Current assets

 

Debtors

5

1,847

479

Cash at bank and in hand

 

23,473

29,967

 

25,320

30,446

Creditors: Amounts falling due within one year

6

(24,831)

(26,012)

Net current assets

 

489

4,434

Total assets less current liabilities

 

900,489

904,434

Provisions for liabilities

(108,815)

(108,815)

Net assets

 

791,674

795,619

Capital and reserves

 

Called up share capital

1,580

1,580

Capital redemption reserve

1,420

1,420

Other reserves

720,261

720,261

Retained earnings

68,413

72,358

Shareholders' funds

 

791,674

795,619

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 April 2025
 

.........................................
Mr C D J Keylock
Director

 

G H Keylock Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Beech House
Lion Street
Hay On Wye
Powys
HR3 5AD

These financial statements were authorised for issue by the director on 24 April 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

Revenue recognition

Turnover represents gross rents receivable.

Tax

The tax expense for the period comprises current 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.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

G H Keylock Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Asset class

Depreciation method and rate

Fixtures and fittings

20% on reducing balance

Investment property

Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

 

G H Keylock Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 August 2023

900,000

400

900,400

At 31 July 2024

900,000

400

900,400

Depreciation

At 1 August 2023

-

400

400

At 31 July 2024

-

400

400

Carrying amount

At 31 July 2024

900,000

-

900,000

At 31 July 2023

900,000

-

900,000

Included within the net book value of land and buildings above is £900,000 (2023 - £900,000) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,403

-

Prepayments

444

-

Other debtors

-

479

 

1,847

479

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

1,826

4,273

Accruals and deferred income

13,674

12,995

Other creditors

9,331

8,744

24,831

26,012