Keston Communications Limited - Period Ending 2025-03-31

Registration number: 06780175

Keston Communications Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

Keston Communications Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 12

Keston Communications Limited

(Registration number: 06780175)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	7,150,000	9,215,000
Investments	5	990,669	990,669
		8,140,669	10,205,669
Current assets
Debtors	6	511,489	729,841
Cash at bank and in hand		736	2,406
		512,225	732,247
Creditors: Amounts falling due within one year	7	(3,198,606)	(3,670,648)
Net current liabilities		(2,686,381)	(2,938,401)
Total assets less current liabilities		5,454,288	7,267,268
Creditors: Amounts falling due after more than one year	7	(4,790,222)	(4,938,057)
Provisions for liabilities		-	(411,871)
Net assets		664,066	1,917,340
Capital and reserves
Called up share capital		100	100
Revaluation reserve		-	1,235,612
Retained earnings		663,966	681,628
Shareholders' funds		664,066	1,917,340

Keston Communications Limited

(Registration number: 06780175)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 15 September 2025 and signed on its behalf by:

P A Manning

Director

Keston Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office and principal place of business is:
Citybridge House
235-245 Goswell Road
LONDON
EC1V 7JD

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Basis of preparation

These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, Financial Reporting Standard 102 - 'The Financial Reporting standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102 1A'), and with the Companies Act 2006.

These financial statements have been prepared using the historical cost convention.

Keston Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Long leasehold property held and used in the company's own activities is stated in the balance sheet at its revalued amount. The revalued amount relates to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated.

Any revaluation increase or decrease on long leasehold property is credited to the property revaluation reserve.

Once a revalued property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised.

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Keston Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Long leasehold property	See below

Long leasehold property is not depreciated on the basis that it is maintained to a high standard such that the useful life is so long and the residual value so high that any charge for depreciation would not be material.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the asset have been affected.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Other debtors

Keston Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment.

Keston Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Other creditors

Other creditors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, except where the effect of discounting would be immaterial. In such cases creditors are stated at transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distributions to the company’s shareholders are recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Keston Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4	Tangible assets

Long leasehold property
£

Total
£

Cost or valuation

At 1 April 2024

9,215,000

9,215,000

Revaluations

(2,065,000)

(2,065,000)

At 31 March 2025

7,150,000

7,150,000

Depreciation

Carrying amount

At 31 March 2025

7,150,000

7,150,000

At 31 March 2024

9,215,000

9,215,000

The long leasehold property was valued by an external Chartered Surveyor on 31 January 2025. The basis of valuation is Market Value in accordance with the definition and supporting commentary as set out in the RICS Valuation - Global Standards. In the opinion of the directors this valuation is not materially different to Fair Value.

Keston Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Investments in subsidiaries, joint ventures and associates

	2025 £	2024 £
Investments in subsidiaries	990,669	990,669

Subsidiaries

£

Cost or valuation

At 1 April 2024

990,669

Provision

Carrying amount

At 31 March 2025

990,669

At 31 March 2024

990,669

Keston Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2025	2024
Subsidiary undertakings
Rapidity Communications Limited	England	Ordinary	100%	100%

The principal activity of Rapidity Communications Limited is the provision of digital printing and managed print services.

Debtors

	2025 £	2024 £
Other debtors	511,489	729,841
	511,489	729,841

Creditors

Note

2025
£

2024
£

Due within one year

Bank loans and overdrafts

10

134,850

110,943

Amounts owed to group undertakings

2,993,518

3,401,339

Other taxation and social security

70,238

-

Other creditors

-

158,366

3,198,606

3,670,648

Due after one year

Loans and borrowings

10

4,790,222

4,938,057

Keston Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	98	98	98	98
"A" Non voting shares of £1 each	1	1	1	1
"B" Non voting shares of £1 each	1	1	1	1
	100	100	100	100

Rights, preferences and restrictions

Ordinary shares have the following rights, preferences and restrictions:
The holders of all classes of Ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the company. All Ordinary shares rank equally with regard to the company's residual assets.

9	Related party transactions

Summary of transactions with other related parties

The company has taken advantage of the exemption in FRS 102 1A from disclosing transactions with other members of the group.

Keston Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Loans from related parties

2025	Key management £	Total £
At start of period	(311,627)	(311,627)
Advanced	(416,000)	(416,000)
Repaid	344,470	344,470
At end of period	(383,157)	(383,157)

2024	Key management £	Total £
At start of period	(310,456)	(310,456)
Advanced	(312,517)	(312,517)
Repaid	311,346	311,346
At end of period	(311,627)	(311,627)

Terms of loans from related parties

Loans from/(to) key management are interest free and repayable on demand.

10	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £

Bank borrowings	4,790,222	4,938,057

Current loans and borrowings

	2025 £	2024 £

Bank borrowings	134,850	110,943

Bank borrowings

Bank borrowings are secured by a debenture, a group guarantee, a charge over contract monies from Rapidity Communications Limited and a first legal mortgage over the long leasehold property.

	Long leasehold property £	Total £
Cost or valuation
At 1 April 2024	9,215,000	9,215,000
Revaluations	(2,065,000)	(2,065,000)
At 31 March 2025	7,150,000	7,150,000
Depreciation
Carrying amount
At 31 March 2025	7,150,000	7,150,000
At 31 March 2024	9,215,000	9,215,000

Subsidiaries	£
Cost or valuation
At 1 April 2024	990,669
Provision
Carrying amount
At 31 March 2025	990,669
At 31 March 2024	990,669