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REGISTERED NUMBER: 07630887 (England and Wales)















Unaudited Financial Statements For The Year Ended 30th September 2024

for

Key Life Financial Services Ltd

Key Life Financial Services Ltd (Registered number: 07630887)






Contents of the Financial Statements
For The Year Ended 30th September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Key Life Financial Services Ltd

Company Information
For The Year Ended 30th September 2024







DIRECTOR: H H Hirani





REGISTERED OFFICE: Devonshire House
582 Honeypot Lane
Stanmore
Middlesex
HA7 1JS





REGISTERED NUMBER: 07630887 (England and Wales)





ACCOUNTANTS: Dua & Co. Limited
1st Floor
5 Century Court
Tolpits Lane
Watford
Hertfordshire
WD18 9PX

Key Life Financial Services Ltd (Registered number: 07630887)

Balance Sheet
30th September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,236 2,472
Tangible assets 5 49,329 8,333
50,565 10,805

CURRENT ASSETS
Debtors 6 96,094 96,094
Cash at bank 229,736 329,492
325,830 425,586
CREDITORS
Amounts falling due within one year 7 54,713 153,689
NET CURRENT ASSETS 271,117 271,897
TOTAL ASSETS LESS CURRENT LIABILITIES 321,682 282,702

CREDITORS
Amounts falling due after more than one year 8 45,356 -
NET ASSETS 276,326 282,702

CAPITAL AND RESERVES
Called up share capital 81 81
Capital redemption reserve 9 19 19
Retained earnings 9 276,226 282,602
SHAREHOLDERS' FUNDS 276,326 282,702

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 6th June 2025 and were signed by:





H H Hirani - Director


Key Life Financial Services Ltd (Registered number: 07630887)

Notes to the Financial Statements
For The Year Ended 30th September 2024

1. STATUTORY INFORMATION

Key Life Financial Services Ltd 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.

Turnover
Turnover represents net invoiced commission receivable, excluding value added tax

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on reducing balance
Computer equipment - 50% on reducing balance

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.

Revenue recognition
Revenue is recognised when the service has been provided

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

Key Life Financial Services Ltd (Registered number: 07630887)

Notes to the Financial Statements - continued
For The Year Ended 30th September 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st October 2023
and 30th September 2024 6,180
AMORTISATION
At 1st October 2023 3,708
Charge for year 1,236
At 30th September 2024 4,944
NET BOOK VALUE
At 30th September 2024 1,236
At 30th September 2023 2,472

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st October 2023 35,626 - 57,113 92,739
Additions - 55,010 419 55,429
At 30th September 2024 35,626 55,010 57,532 148,168
DEPRECIATION
At 1st October 2023 31,304 - 53,102 84,406
Charge for year 1,426 11,002 2,005 14,433
At 30th September 2024 32,730 11,002 55,107 98,839
NET BOOK VALUE
At 30th September 2024 2,896 44,008 2,425 49,329
At 30th September 2023 4,322 - 4,011 8,333

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by participating interests 94,138 94,138
Other debtors 1,956 1,956
96,094 96,094

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax - 18,863
Social security and other taxes 7,494 17,938
Pension Payable - 577
Other creditors 12,509 10,819
Directors' current accounts 34,710 90,492
Accrued expenses - 15,000
54,713 153,689

Key Life Financial Services Ltd (Registered number: 07630887)

Notes to the Financial Statements - continued
For The Year Ended 30th September 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 45,356 -

9. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1st October 2023 282,602 19 282,621
Profit for the year 33,624 - 33,624
Dividends (40,000 ) - (40,000 )
At 30th September 2024 276,226 19 276,245

10. RELATED PARTY DISCLOSURES

As at year ended 30 September 2024, the company owed £34,710 (2023 - £90,492) to the director.

11. ULTIMATE CONTROLLING PARTY

During the year, the company was under the control of H Hirani who is the ultimate beneficiary owner.