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Registered number: 06528627
Key Accountants Midlands Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Association of Chartered Certified Accountants (ACCA)
Key Accountants
Office 5, The Forest Rock Offices
Leicester Road, Whitwick
Leicestershire
LE67 5GQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06528627
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 32,158 31,595
32,158 31,595
CURRENT ASSETS
Debtors 6 40,487 32,707
Investments 7 100,000 100,000
Cash at bank and in hand 36,231 22,174
176,718 154,881
Creditors: Amounts Falling Due Within One Year 8 (80,456 ) (48,818 )
NET CURRENT ASSETS (LIABILITIES) 96,262 106,063
TOTAL ASSETS LESS CURRENT LIABILITIES 128,420 137,658
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,040 ) (7,900 )
NET ASSETS 120,380 129,758
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 120,280 129,658
SHAREHOLDERS' FUNDS 120,380 129,758
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Mrs Claire Carlin
Director
16th December 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Key Accountants Midlands Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06528627 . The registered office is Key Accountants, Office 5, The Forest Rock Offices, Leicester Road, Whitwick, Leicestershire, LE67 5GQ.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets.
2.4. 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:
Plant & Machinery 33% Straight Line Basis
Fixtures & Fittings 25% Straight Line Basis
Computer Equipment 33% Straight Line Basis
2.5. 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was  7 (2024: 6)
7 6
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 32,422
As at 31 March 2025 32,422
Amortisation
As at 1 April 2024 32,422
As at 31 March 2025 32,422
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2024 32,176 625 12,535 45,336
Additions 17,048 - 354 17,402
As at 31 March 2025 49,224 625 12,889 62,738
Depreciation
As at 1 April 2024 894 586 12,261 13,741
Provided during the period 16,408 39 392 16,839
As at 31 March 2025 17,302 625 12,653 30,580
Net Book Value
As at 31 March 2025 31,922 - 236 32,158
As at 1 April 2024 31,282 39 274 31,595
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 31,301 20,394
Prepayments and accrued income 3,698 8,684
Other debtors 5,488 3,628
Other taxes and social security - 1
40,487 32,707
7. Current Asset Investments
2025 2024
£ £
Shares in subsidiaries 100,000 100,000
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Page 5
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 3,301 4,677
Corporation tax 10,653 3,915
VAT 18,127 8,949
Net wages 3,837 2,723
Director's loan account 24,275 4,357
Amounts owed to group undertakings 20,263 24,197
80,456 48,818
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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