REGISTERED NUMBER: 01357228 (England and Wales)

E.M. KEY & SON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

DIRECTOR:

F M Key

REGISTERED OFFICE:

Glebe Farm

Burton Pedwardine

Sleaford

Lincolnshire

NG34 0BX

REGISTERED NUMBER:

01357228 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

18 Northgate

Sleaford

Lincolnshire

NG34 7BJ

FIXED ASSETS

Tangible assets

4

2,249,965

2,286,352

CURRENT ASSETS

Valuation

4,357

8,774

Debtors

5

530,182

646,763

Cash at bank

14,543

407

549,082

655,944

CREDITORS

Amounts falling due within one year

6

1,521,430

2,440,500

NET CURRENT LIABILITIES

(972,348

)

(1,784,556

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,277,617

501,796

CREDITORS

Amounts falling due after more than one year

7

995,000

40,827

NET ASSETS

282,617

460,969

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Retained earnings

10

281,617

459,969

SHAREHOLDERS' FUNDS

282,617

460,969

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 23 December 2025 and were signed by:

F M Key - Director

1.	STATUTORY INFORMATION

E.M. Key & Son Limited 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 as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

not provided

Plant and machinery etc

-

25% on reducing balance, 20% on reducing balance, 15% on reducing balance, 4% on reducing balance and not provided

Tangible fixed assets are held at cost less depreciation.

Valuation

Stocks are valued consistently with previous years by professional valuers.

Financial instruments

The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 statement of financial position date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2024

and 31 March 2025

1,935,591

2,553,141

4,488,732

DEPRECIATION

At 1 April 2024

175,770

2,026,610

2,202,380

Charge for year

1,093

35,294

36,387

At 31 March 2025

176,863

2,061,904

2,238,767

NET BOOK VALUE

At 31 March 2025

1,758,728

491,237

2,249,965

At 31 March 2024

1,759,821

526,531

2,286,352

Cost or valuation at 31 March 2025 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2008

1,621,100

-

1,621,100

Valuation in 2024

(315,647

)

-

(315,647

)

Cost

630,138

2,553,141

3,183,279

1,935,591

2,553,141

4,488,732

If the freehold land had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

222,716

222,716

Value of land in freehold land and buildings

1,485,304

1,485,304

Freehold property was valued on an open market basis on 2 September 2008 by Pygott & Crone Chartered Surveyors .

The net book value of tangible fixed assets includes £ 96,801 (2024 - £ 105,601 ) in respect of assets held under hire purchase contracts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

29,555

90,028

Other debtors

500,627

556,735

530,182

646,763

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

-

43,150

Trade creditors

28,625

82,605

Taxation and social security

32,034

25,721

Other creditors

1,460,771

2,289,024

1,521,430

2,440,500

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

-

40,827

Other creditors

995,000

-

995,000

40,827

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

-

83,977

Hire purchase liabilities are secured on the individual fixed asset they relate to.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary

£1

1,000

1,000

10.

RESERVES

Retained earnings includes a revaluation reserve of £1,621,100 (2024 - £1,621,100) in relation to freehold land revaluations.

11.	RELATED PARTY DISCLOSURES

At the year end the company owed the director £950,057 (2024: £976,668). The loans made from the directors are unsecured, interest free, and repayable on demand.