IRIS Accounts Production v25.1.4.42 06645487 Board of Directors Board of Directors 1.1.24 31.12.24 31.12.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh066454872023-12-31066454872024-12-31066454872024-01-012024-12-31066454872022-12-31066454872023-01-012023-12-31066454872023-12-3106645487ns15:EnglandWales2024-01-012024-12-3106645487ns14:PoundSterling2024-01-012024-12-3106645487ns10:Director12024-01-012024-12-3106645487ns10:Director22024-01-012024-12-3106645487ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3106645487ns10:SmallEntities2024-01-012024-12-3106645487ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3106645487ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3106645487ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3106645487ns10:FullAccounts2024-01-012024-12-3106645487ns10:RegisteredOffice2024-01-012024-12-3106645487ns5:CurrentFinancialInstruments2024-12-3106645487ns5:CurrentFinancialInstruments2023-12-3106645487ns5:Non-currentFinancialInstruments2024-12-3106645487ns5:Non-currentFinancialInstruments2023-12-3106645487ns5:ShareCapital2024-12-3106645487ns5:ShareCapital2023-12-3106645487ns5:CapitalRedemptionReserve2024-12-3106645487ns5:CapitalRedemptionReserve2023-12-3106645487ns5:RetainedEarningsAccumulatedLosses2024-12-3106645487ns5:RetainedEarningsAccumulatedLosses2023-12-3106645487ns5:LandBuildingsns5:ShortLeaseholdAssets2024-01-012024-12-3106645487ns5:FurnitureFittings2024-01-012024-12-3106645487ns5:ComputerEquipment2024-01-012024-12-3106645487ns5:LandBuildingsns5:ShortLeaseholdAssets2023-12-3106645487ns5:FurnitureFittings2023-12-3106645487ns5:ComputerEquipment2023-12-3106645487ns5:LandBuildingsns5:ShortLeaseholdAssets2024-12-3106645487ns5:FurnitureFittings2024-12-3106645487ns5:ComputerEquipment2024-12-3106645487ns5:LandBuildingsns5:ShortLeaseholdAssets2023-12-3106645487ns5:FurnitureFittings2023-12-3106645487ns5:ComputerEquipment2023-12-3106645487ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3106645487ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3106645487ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-12-3106645487ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-12-3106645487ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-12-3106645487ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-3106645487ns5:DeferredTaxation2023-12-3106645487ns5:DeferredTaxation2024-12-31
REGISTERED NUMBER: 06645487 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

KEYWEST ESTATE AGENTS LTD

KEYWEST ESTATE AGENTS LTD (REGISTERED NUMBER: 06645487)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KEYWEST ESTATE AGENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr A Iqbal
Ms A Petts





REGISTERED OFFICE: 73A Hinckley Road
Leicester
Leicestershire
LE3 0TD





REGISTERED NUMBER: 06645487 (England and Wales)

KEYWEST ESTATE AGENTS LTD (REGISTERED NUMBER: 06645487)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,131 34,765
Investments 5 41,565 41,565
66,696 76,330

CURRENT ASSETS
Debtors 6 239,772 244,738
Cash at bank 153,058 82,524
392,830 327,262
CREDITORS
Amounts falling due within one year 7 236,885 212,032
NET CURRENT ASSETS 155,945 115,230
TOTAL ASSETS LESS CURRENT
LIABILITIES

222,641

191,560

CREDITORS
Amounts falling due after more than one
year

8

(2,556

)

(14,167

)

PROVISIONS FOR LIABILITIES 9 (3,300 ) (3,051 )
NET ASSETS 216,785 174,342

CAPITAL AND RESERVES
Called up share capital 55 55
Capital redemption reserve 45 45
Retained earnings 216,685 174,242
SHAREHOLDERS' FUNDS 216,785 174,342

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

KEYWEST ESTATE AGENTS LTD (REGISTERED NUMBER: 06645487)

BALANCE SHEET - continued
31 DECEMBER 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 Board of Directors and authorised for issue on 30 May 2025 and were signed on its behalf by:




Mr A Iqbal - Director



Ms A Petts - Director


KEYWEST ESTATE AGENTS LTD (REGISTERED NUMBER: 06645487)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Keywest Estate Agents 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.

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.

Turnover
Commission earned on sales of residential property is recognised on exchange of contract. In connection with lettings, the company offers the following services: (1) Securing the letting for the landlord including rent collection; and (2) Managing the letting on behalf of the landlord. Commissions earned on the above services are recognised as follows: (1) Commissions on securing the letting are recognised immediately; and (2) The management fee is billed and recognised monthly at a fixed percentage of the monthly rental.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Website - 20% 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.

KEYWEST ESTATE AGENTS LTD (REGISTERED NUMBER: 06645487)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

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.

Creditors
Short term trade 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Website Totals
£    £    £    £   
COST
At 1 January 2024 34,780 112,009 11,235 158,024
Additions - 513 - 513
Disposals (16,141 ) (1,900 ) - (18,041 )
At 31 December 2024 18,639 110,622 11,235 140,496
DEPRECIATION
At 1 January 2024 23,841 89,250 10,168 123,259
Charge for year 859 3,402 214 4,475
Eliminated on disposal (10,841 ) (1,528 ) - (12,369 )
At 31 December 2024 13,859 91,124 10,382 115,365
NET BOOK VALUE
At 31 December 2024 4,780 19,498 853 25,131
At 31 December 2023 10,939 22,759 1,067 34,765

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Investment gold 20,205 20,205
Investment silver 21,360 21,360
41,565 41,565

KEYWEST ESTATE AGENTS LTD (REGISTERED NUMBER: 06645487)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,075 424
Other debtors 236,686 236,686
Prepayments 2,011 7,628
239,772 244,738

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,276 10,000
Trade creditors 2,249 1,929
Taxation 28,050 11,891
Paye/Ni payable (3,017 ) 598
VAT 8,286 8,448
Other creditors 187,457 172,437
Accrued expenses 6,584 6,729
236,885 212,032

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 2,556 10,000
Bank loans - 2-5 years - 4,167
2,556 14,167

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred taxation 3,300 3,051

Deferred
tax
£   
Balance at 1 January 2024 3,051
Movement 249
Balance at 31 December 2024 3,300

10. ULTIMATE CONTROLLING PARTY

The company is under the control of Mr I Bradshaw by virtue of his shareholding.