Caseware UK (AP4) 2024.0.164 2024.0.164 2024-04-302024-04-30true7falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-05-31No description of principal activity7truefalse 03128284 2023-05-31 2024-04-30 03128284 2022-05-31 2023-05-30 03128284 2024-04-30 03128284 2023-05-30 03128284 2022-05-31 03128284 c:Director1 2023-05-31 2024-04-30 03128284 d:FurnitureFittings 2023-05-31 2024-04-30 03128284 d:FurnitureFittings 2024-04-30 03128284 d:FurnitureFittings 2023-05-30 03128284 d:OfficeEquipment 2023-05-31 2024-04-30 03128284 d:OfficeEquipment 2024-04-30 03128284 d:OfficeEquipment 2023-05-30 03128284 d:CurrentFinancialInstruments 2024-04-30 03128284 d:CurrentFinancialInstruments 2023-05-30 03128284 d:Non-currentFinancialInstruments 2024-04-30 03128284 d:Non-currentFinancialInstruments 2023-05-30 03128284 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 03128284 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-30 03128284 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 03128284 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-30 03128284 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 03128284 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-30 03128284 d:ShareCapital 2023-05-31 2024-04-30 03128284 d:ShareCapital 2024-04-30 03128284 d:ShareCapital 2022-05-31 2023-05-30 03128284 d:ShareCapital 2023-05-30 03128284 d:ShareCapital 2022-05-31 03128284 d:SharePremium 2023-05-31 2024-04-30 03128284 d:SharePremium 2024-04-30 03128284 d:SharePremium 2022-05-31 2023-05-30 03128284 d:SharePremium 2023-05-30 03128284 d:SharePremium 2022-05-31 03128284 d:RetainedEarningsAccumulatedLosses 2023-05-31 2024-04-30 03128284 d:RetainedEarningsAccumulatedLosses 2024-04-30 03128284 d:RetainedEarningsAccumulatedLosses 2022-05-31 2023-05-30 03128284 d:RetainedEarningsAccumulatedLosses 2023-05-30 03128284 d:RetainedEarningsAccumulatedLosses 2022-05-31 03128284 c:OrdinaryShareClass1 2023-05-31 2024-04-30 03128284 c:OrdinaryShareClass1 2024-04-30 03128284 c:OrdinaryShareClass1 2023-05-30 03128284 c:FRS102 2023-05-31 2024-04-30 03128284 c:AuditExempt-NoAccountantsReport 2023-05-31 2024-04-30 03128284 c:FullAccounts 2023-05-31 2024-04-30 03128284 c:PrivateLimitedCompanyLtd 2023-05-31 2024-04-30 03128284 2 2023-05-31 2024-04-30 03128284 6 2023-05-31 2024-04-30 03128284 e:PoundSterling 2023-05-31 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 03128284






KEY FINANCE LIMITED

UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 30 APRIL 2024

 
KEY FINANCE LIMITED
REGISTERED NUMBER: 03128284

BALANCE SHEET
AS AT 30 APRIL 2024

30 April
30 May
2024
2023
Note
£
£

Fixed assets
  

Investments
 5 
10,000
10,000

  
10,000
10,000

Current assets
  

Debtors: amounts falling due within one year
 6 
287,145
294,796

Cash at bank and in hand
  
431,574
200,055

  
718,719
494,851

Creditors: amounts falling due within one year
 7 
(180,947)
(97,152)

Net current assets
  
 
 
537,772
 
 
397,699

Total assets less current liabilities
  
547,772
407,699

Creditors: amounts falling due after more than one year
 8 
(10,833)
(20,000)

  

Net assets
  
536,939
387,699


Capital and reserves
  

Called up share capital 
 10 
100
100

Share premium account
  
116,534
116,534

Profit and loss account
  
420,305
271,065

  
536,939
387,699


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.




 

Page 1

 
KEY FINANCE LIMITED
REGISTERED NUMBER: 03128284
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 April 2025.




J. H. N. Mounsey
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 
KEY FINANCE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 APRIL 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 31 May 2022
100
116,534
241,482
358,116


Comprehensive income for the year

Profit for the year

-
-
89,583
89,583


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
89,583
89,583


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(60,000)
(60,000)


Total transactions with owners
-
-
(60,000)
(60,000)



At 31 May 2023
100
116,534
271,065
387,699


Comprehensive income for the period

Profit for the period

-
-
170,240
170,240


Other comprehensive income for the period
-
-
-
-


Total comprehensive income for the period
-
-
170,240
170,240


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(21,000)
(21,000)


Total transactions with owners
-
-
(21,000)
(21,000)


At 30 April 2024
100
116,534
420,305
536,939


The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
KEY FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

1.


General information

Key Finance Limited is a private company limited by shares and incorporated in England. Its registered office is Calder & Co, 30 Orange Street, London, WC2H 7HF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue 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. Revenue 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue 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.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
KEY FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
KEY FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures & fittings
-
20% straight line
Office equipment
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Valuation of investments

Investments held as fixed assets are shown at cost less provision for impairment.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Page 6

 
KEY FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)


Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 7 (2023 - 7).

Page 7

 
KEY FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

4.


Tangible fixed assets







Fixtures & fittings
Office equipment
Total

£
£
£



Cost or valuation


At 31 May 2023
20,305
10,356
30,661



At 30 April 2024

20,305
10,356
30,661



Depreciation


At 31 May 2023
20,305
10,356
30,661



At 30 April 2024

20,305
10,356
30,661



Net book value



At 30 April 2024
-
-
-



At 30 May 2023
-
-
-


5.


Fixed asset investments








Unlisted investments

£



Cost or valuation


At 31 May 2023
10,000



At 30 April 2024
10,000






Page 8

 
KEY FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

6.


Debtors

30 April
30 May
2024
2023
£
£


Trade debtors
105,627
113,248

Other debtors
181,518
181,548

287,145
294,796





7.


Creditors: Amounts falling due within one year

30 April
30 May
2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
20,853
13,581

Corporation tax
69,174
27,014

Other taxation and social security
27,472
43,557

Other creditors
-
1,000

Accruals and deferred income
53,448
2,000

180,947
97,152





8.


Creditors: Amounts falling due after more than one year

30 April
30 May
2024
2023
£
£

Bank loans
10,833
20,000

10,833
20,000


Page 9

 
KEY FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

9.


Loans


Analysis of the maturity of loans is given below:


30 April
30 May
2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,833
20,000


10,833
20,000



20,833
30,000



10.


Share capital

30 April
30 May
2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100





11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £5,116 (2023: £4,789). 


12.


Transactions with directors

As at 30 May 2023 a balance of £102,462 (2023: £102,458) was owed to the company by virtue of an overdrawn directors current account. Annual interest has been charged and there is no fixed repayment terms.

 
Page 10