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REGISTERED NUMBER: 09364974 (England and Wales)















AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

KEY 2 SPACE LIMITED

KEY 2 SPACE LIMITED (REGISTERED NUMBER: 09364974)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


KEY 2 SPACE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: C T Wilkins





SECRETARY: I A Hinton





REGISTERED OFFICE: C/O Kingsbury Jig & Tool Group Limited
London Road
Bassetts Pole
Sutton Coldfield
West Midlands
B75 5SA





REGISTERED NUMBER: 09364974 (England and Wales)





AUDITORS: Crombies Accountants Limited
Chartered Accountants and Statutory Auditor
34 Waterloo Road
Wolverhampton
West Midlands
WV1 4DG

KEY 2 SPACE LIMITED (REGISTERED NUMBER: 09364974)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,617 30,351

CURRENT ASSETS
Debtors 5 4,208 6,197
Prepayments and accrued income 3,678 3,756
Cash at bank 3,547 6,200
11,433 16,153
CREDITORS
Amounts falling due within one year 6 397,904 402,217
NET CURRENT LIABILITIES (386,471 ) (386,064 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(378,854

)

(355,713

)

PROVISIONS FOR LIABILITIES - 2,900
NET LIABILITIES (378,854 ) (358,613 )

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (378,864 ) (358,623 )
SHAREHOLDERS' FUNDS (378,854 ) (358,613 )

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 8 April 2025 and were signed by:





C T Wilkins - Director


KEY 2 SPACE LIMITED (REGISTERED NUMBER: 09364974)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Key 2 Space 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards.

The financial statements have been prepared on the going concern basis in light of the continued support from Kingsbury Jig & Tool Group Limited, an associated company.

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
Fixed assets are stated at historical cost.

Depreciation is provided on all tangible fixed assets at rates calculated to write each asset down to its estimated residual value evenly over its expected useful life, as follows:-

Fixtures and Fittings10% on cost
Computer Equipment10% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

KEY 2 SPACE LIMITED (REGISTERED NUMBER: 09364974)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 227,349 13,524 240,873
DEPRECIATION
At 1 October 2023 196,998 13,524 210,522
Charge for year 22,734 - 22,734
At 30 September 2024 219,732 13,524 233,256
NET BOOK VALUE
At 30 September 2024 7,617 - 7,617
At 30 September 2023 30,351 - 30,351

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,208 6,197

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,772 412
Taxation and social security 1,244 929
Other creditors 394,888 400,876
397,904 402,217

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Fletcher BSc ACA (Senior Statutory Auditor)
for and on behalf of Crombies Accountants Limited