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Company Registration No. 08316786 (England and Wales)
Keys Motorsport Silverstone Limited Unaudited accounts for the year ended 31 December 2024
Keys Motorsport Silverstone Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Keys Motorsport Silverstone Limited Company Information for the year ended 31 December 2024
Director
T Hutchinson
Company Number
08316786 (England and Wales)
Registered Office
THE CORNER HOUSE 4 BEAUMONT ROAD CHURCH STRETTON SHROPSHIRE SY6 6BN United Kingdom
Accountants
S A Acc'y Ltd The Corner House 4 Beaumont Road Church Stretton Shropshire SY6 6BN
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Keys Motorsport Silverstone Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
22,146 
26,054 
Current assets
Inventories
2,959 
4,312 
Debtors
5
5,071 
11,324 
Cash at bank and in hand
30,902 
40,374 
38,932 
56,010 
Creditors: amounts falling due within one year
6
(27,944)
(37,337)
Net current assets
10,988 
18,673 
Total assets less current liabilities
33,134 
44,727 
Provisions for liabilities
Deferred tax
(4,208)
(4,951)
Net assets
28,926 
39,776 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
28,826 
39,676 
Shareholders' funds
28,926 
39,776 
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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 May 2025 and were signed on its behalf by
T Hutchinson Director Company Registration No. 08316786
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Keys Motorsport Silverstone Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Keys Motorsport Silverstone Limited is a private company, limited by shares, registered in England and Wales, registration number 08316786. The registered office is THE CORNER HOUSE, 4 BEAUMONT ROAD, CHURCH STRETTON, SHROPSHIRE, SY6 6BN, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% per annum on cost
Motor vehicles
25% per annum on cost
Computer equipment
25% per annum on cost
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2024
66,290 
2,750 
3,026 
72,066 
At 31 December 2024
66,290 
2,750 
3,026 
72,066 
Depreciation
At 1 January 2024
40,702 
2,750 
2,560 
46,012 
Charge for the year
3,838 
- 
70 
3,908 
At 31 December 2024
44,540 
2,750 
2,630 
49,920 
Net book value
At 31 December 2024
21,750 
- 
396 
22,146 
At 31 December 2023
25,588 
- 
466 
26,054 
- 5 -
Keys Motorsport Silverstone Limited Notes to the Accounts for the year ended 31 December 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
3,394 
11,324 
Accrued income and prepayments
540 
- 
Other debtors
1,137 
- 
5,071 
11,324 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
3,088 
1,582 
Taxes and social security
15,527 
19,214 
Other creditors
9,180 
11,380 
Loans from directors
- 
4,741 
Accruals
149 
420 
27,944 
37,337 
7
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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