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REGISTERED NUMBER: 01718843 (England and Wales)













Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Keenair Limited

Keenair Limited (Registered number: 01718843)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Keenair Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Mrs J A Keen





REGISTERED OFFICE: 228 Score Lane
Childwall
Liverpool
L16 5EQ





REGISTERED NUMBER: 01718843 (England and Wales)





ACCOUNTANTS: Graham & Fisher Limited
T/A Grahams
Chartered Accountants
30 Birkenhead Road
Hoylake
Wirral
CH47 3BW

Keenair Limited (Registered number: 01718843)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 610,232 611,161

CURRENT ASSETS
Stocks 102,115 139,089
Debtors 5 23,049 38,264
Cash in hand 26 116
125,190 177,469
CREDITORS
Amounts falling due within one year 6 430,265 338,931
NET CURRENT LIABILITIES (305,075 ) (161,462 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

305,157

449,699

CREDITORS
Amounts falling due after more than one year 7 (13,333 ) (23,333 )

PROVISIONS FOR LIABILITIES (12,228 ) (87,827 )
NET ASSETS 279,596 338,539

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 274,661 274,661
Retained earnings 4,835 63,778
SHAREHOLDERS' FUNDS 279,596 338,539

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Keenair Limited (Registered number: 01718843)

Balance Sheet - continued
29 February 2024


The 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.

The financial statements were approved by the director and authorised for issue on 12 May 2025 and were signed by:





Mrs J A Keen - Director


Keenair Limited (Registered number: 01718843)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Keenair Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 33% on cost and 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Keenair Limited (Registered number: 01718843)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 March 2023 631,500 38,832 670,332
Additions 4,760 430 5,190
At 29 February 2024 636,260 39,262 675,522
DEPRECIATION
At 1 March 2023 28,350 30,821 59,171
Charge for year 3,626 2,493 6,119
At 29 February 2024 31,976 33,314 65,290
NET BOOK VALUE
At 29 February 2024 604,284 5,948 610,232
At 28 February 2023 603,150 8,011 611,161

Cost or valuation at 29 February 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2007 362,488 62,032 424,520
Valuation in 2008 150,000 - 150,000
Valuation in 2009 281,250 - 281,250
Valuation in 2010 257,813 - 257,813
Valuation in 2011 322,266 - 322,266
Valuation in 2012 402,832 - 402,832
Valuation in 2013 (1,514,161 ) - (1,514,161 )
Valuation in 2017 160,000 - 160,000
Valuation in 2023 (60,000 ) - (60,000 )
Cost 273,772 39,262 313,034
636,260 101,294 737,554

The hangar was revalued in the financial statements at 28 February 2023 in accordance with Accounting Principles. The valuation was undertaken by Janet Keen Company Director. The Net Book Value of the hangar after revaluation in these accounts is £600,000 (2023 - £660,000).

Keenair Limited (Registered number: 01718843)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 818 14,427
Other debtors 22,231 23,837
23,049 38,264

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 59,905 53,239
Trade creditors 76,548 64,098
Taxation and social security 28,552 18,169
Other creditors 265,260 203,425
430,265 338,931

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 13,333 23,333

8. RESERVES
Revaluation
reserve
£   
At 1 March 2023
and 29 February 2024 274,661