Acorah Software Products - Accounts Production 16.5.460 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 01872325 Mr Edward Clarke Mr James Clarke Mrs Jean Clarke iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01872325 2023-12-31 01872325 2024-12-31 01872325 2024-01-01 2024-12-31 01872325 frs-core:CurrentFinancialInstruments 2024-12-31 01872325 frs-core:BetweenOneFiveYears 2024-12-31 01872325 frs-core:InvestmentPropertyIncludedWithinPPE 2024-12-31 01872325 frs-core:InvestmentPropertyIncludedWithinPPE 2024-01-01 2024-12-31 01872325 frs-core:InvestmentPropertyIncludedWithinPPE 2023-12-31 01872325 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 01872325 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01872325 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 01872325 frs-core:MotorVehicles 2024-12-31 01872325 frs-core:MotorVehicles 2024-01-01 2024-12-31 01872325 frs-core:MotorVehicles 2023-12-31 01872325 frs-core:PlantMachinery 2024-12-31 01872325 frs-core:PlantMachinery 2024-01-01 2024-12-31 01872325 frs-core:PlantMachinery 2023-12-31 01872325 frs-core:RevaluationReserve 2024-01-01 2024-12-31 01872325 frs-core:RevaluationReserve 2023-12-31 01872325 frs-core:RevaluationReserve 2024-12-31 01872325 frs-core:ShareCapital 2024-12-31 01872325 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 01872325 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01872325 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 01872325 frs-bus:SmallEntities 2024-01-01 2024-12-31 01872325 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 01872325 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 01872325 frs-core:AcceleratedTaxDepreciationDeferredTax 2024-12-31 01872325 frs-bus:Director1 2024-01-01 2024-12-31 01872325 frs-bus:Director2 2024-01-01 2024-12-31 01872325 frs-bus:Director3 2024-01-01 2024-12-31 01872325 frs-countries:EnglandWales 2024-01-01 2024-12-31 01872325 2022-12-31 01872325 2023-12-31 01872325 2023-01-01 2023-12-31 01872325 frs-core:CurrentFinancialInstruments 2023-12-31 01872325 frs-core:BetweenOneFiveYears 2023-12-31 01872325 frs-core:RevaluationReserve 2023-12-31 01872325 frs-core:ShareCapital 2023-12-31 01872325 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 01872325 frs-core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 01872325 frs-core:CurrentFinancialInstruments 1 2023-12-31
Registered number: 01872325
Keylex Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Keylex Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—6

Page 1
Keylex Limited
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 01872325

| 2024 | 2023
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 1,836,740 |  | 1,913,252
|  |  | 1,836,740 |  | 1,913,252
CURRENT ASSETS
Stocks |  | 39,196 |  | 39,302 |
Debtors | 5 | 16,045 |  | 20,781 |
Investments | 6 | 148 |  | 148 |
Cash at bank and in hand |  | 1,264,038 |  | 1,100,768 |
|  | 1,319,427 |  | 1,160,999 |
Creditors: Amounts Falling Due Within One Year | 7 | (140,979 ) |  | (148,764 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 1,178,448 |  | 1,012,235
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 3,015,188 |  | 2,925,487
PROVISIONS FOR LIABILITIES
Deferred Taxation | 8 |  | (153,339 ) |  | (163,157 )
NET ASSETS |  |  | 2,861,849 |  | 2,762,330
CAPITAL AND RESERVES
Called up share capital | 9 |  | 100 |  | 100
Revaluation reserve | 12 |  | 573,371 |  | 647,329
Profit and Loss Account |  |  | 2,288,378 |  | 2,114,901
SHAREHOLDERS' FUNDS |  |  | 2,861,849 |  | 2,762,330

Page 1
Page 2
Keylex Limited
Balance Sheet (continued)
As At 31 December 2024
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr Edward Clarke Director
11 September 2025

The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Keylex Limited
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
Keylex Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01872325 . The registered office is 16-18 Upton Road, Claughton Village, Wirral, CH41 0DF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold | Not depreciated - see below
Plant & Machinery | 25% reducing balance
Motor Vehicles | 25% reducing balance

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 the Statement of comprehensive income.
The Company has not depreciated its land and buildings. The directors are of the opinion that as there is a policy and practice of regular maintenance and repair the assets will be kept to their previously assessed standard and there is little likelihood of the assets suffering economic obsolescence.
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the Statement of comprehensive income.
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
Page 4
Keylex Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Finance costs
Finance costs are charged to the Statement of comprehensive income 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 instrument.
2.9. Borrowing costs
All borrowing costs are recognised in the Statement of comprehensive income in the period in which they are incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 76 (2023: 72)
76 72
4. Tangible Assets

| Land & Property
--- | ---
| Freehold | Investment Properties | Plant & Machinery | Motor Vehicles | Total
| £ | £ | £ | £ | £
Cost or Valuation
As at 1 January 2024 | 646,668 | 1,161,000 | 524,839 | 68,110 | 2,400,617
Additions | 188,036 | 125,358 | - | 23,850 | 337,244
Disposals | - | (383,000 ) | - | (14,730 ) | (397,730 )
As at 31 December 2024 | 834,704 | 903,358 | 524,839 | 77,230 | 2,340,131
Depreciation
As at 1 January 2024 | - | - | 454,035 | 33,330 | 487,365
Provided during the period | - | - | 17,700 | 10,908 | 28,608
Disposals | - | - | - | (12,582 ) | (12,582 )
As at 31 December 2024 | - | - | 471,735 | 31,656 | 503,391

...CONTINUED
Page 4
Page 5
Keylex Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024

Net Book Value
As at 31 December 2024 | 834,704 | 903,358 | 53,104 | 45,574 | 1,836,740
As at 1 January 2024 | 646,668 | 1,161,000 | 70,804 | 34,780 | 1,913,252

The valuations were made by the Directors on an open market value.
5. Debtors

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 2,310 |  | 1,173
Prepayments and accrued income | 13,735 |  | 10,523
Other debtors | - |  | 9,085
| 16,045 |  | 20,781

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.
6. Current Asset Investments

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Shares in subsidiaries | 98 |  | 98
Unlisted investments | 50 |  | 50
| 148 |  | 148

7. Creditors: Amounts Falling Due Within One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Trade creditors | 20,174 |  | 19,786
Corporation tax | 41,436 |  | 50,281
Other taxes and social security | 20,376 |  | 16,213
Other creditors | 11,259 |  | 8,780
Other loans - secured | - |  | 10,000
Accruals and deferred income | 42,650 |  | 38,720
Directors' loan accounts | 4,984 |  | 4,984
Amounts owed to subsidiaries | 100 |  | -
| 140,979 |  | 148,764

Short term creditors are measured at the transaction price. Other financial liabilities, including Other loans are measured ititially at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method.
8. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances and freehold property revaluation reserve.

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Accelerated capital allowances | 24,669 |  | 26,396
Other timing differences | 128,670 |  | 136,761
| 153,339 |  | 163,157

Page 5
Page 6
Keylex Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
9. Share Capital

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 100 |  | 100

10. Other Commitments
The future minimum lease annual payments under non-cancellable operating leases are as following:

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Later than one year and not later than five years | 39,913 |  | 61,420
| 39,913 |  | 61,420

11. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £1,645 (2023 £1,026) were due to the fund. They are included in Other Creditors.
12. Reserves

| Revaluation Reserve
--- | ---
| £
As at 1 January 2024 | 647,329
Transfer to profit and loss | (73,958 )
As at 31 December 2024 | 573,371

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
Revaluation gains and losses are recognised in the Statement of comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit and loss.
13. Related Party Transactions
The Company was under the control of the directors throughout the current period. Mr and Mrs Clarke received rent of £14,900 (2023 £28,800) from the company during the period.
The balance owed to Mr & Mrs Clarke by the Company at 31 December 2024 was £4,984 (2023 £4,984)
14. Subsidiary Company
Leverman Limited, company registration number 03314188 is the 98% subsidiary of Keylex Limited. The net assets of Leverman at 31 December 2024 were £1,118 (2023 £1,227). The company is not active.
Page 6