Company registration number 12065129 (England and Wales)
KEITH'S HIGH SEATS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
KEITH'S HIGH SEATS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
KEITH'S HIGH SEATS LTD
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
30,976
32,683
Current assets
Debtors
4
44,794
52,713
Cash at bank and in hand
171,202
100,453
215,996
153,166
Creditors: amounts falling due within one year
5
(161,821)
(120,537)
Net current assets
54,175
32,629
Total assets less current liabilities
85,151
65,312
Creditors: amounts falling due after more than one year
6
(12,019)
(21,412)
Provisions for liabilities
(7,744)
(8,171)
Net assets
65,388
35,729
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
65,387
35,728
Total equity
65,388
35,729
KEITH'S HIGH SEATS LTD
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2025
30 June 2025
- 2 -

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.

The financial statements were approved and signed by the director and authorised for issue on 24 March 2026
K Watson
Director
Company registration number 12065129 (England and Wales)
KEITH'S HIGH SEATS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -
1
Accounting policies
Company information

Keith's High Seats Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 9, Hayhead Farm, Longwood Lane, Walsall, WS4 2JT.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Revenue

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and equipment
4 years straight line
Fixtures and fittings
4 years straight line
Computers
4 years straight line
Motor vehicles
4 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

KEITH'S HIGH SEATS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

KEITH'S HIGH SEATS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 5 -
1.10
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
4
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2024
37,421
Additions
7,623
At 30 June 2025
45,044
Depreciation and impairment
At 1 July 2024
4,738
Depreciation charged in the year
9,330
At 30 June 2025
14,068
Carrying amount
At 30 June 2025
30,976
At 30 June 2024
32,683
KEITH'S HIGH SEATS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 6 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
43,857
51,869
Other debtors
99
-
0
Prepayments and accrued income
838
844
44,794
52,713
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
5,211
5,082
Obligations under finance leases
5,431
5,481
Trade creditors
8,001
9,978
Corporation tax
18,308
5,471
Other taxation and social security
9,736
9,824
Other creditors
62,534
32,251
Accruals and deferred income
52,600
52,450
161,821
120,537

Bank loans relates to a loan issued under the Bounce Back Loan Scheme (BBLS) which is secured by the UK Government.

Finance lease obligations are secured on the assets to which they relate.

6
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
2,184
7,362
Obligations under finance leases
9,835
14,050
12,019
21,412

Bank loans relates to a loan issued under the Bounce Back Loan Scheme (BBLS) which is secured by the UK Government.

Finance lease obligations are secured on the assets to which they relate.

7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
KEITH'S HIGH SEATS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 7 -
8
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
2,817
7,963
9
Related party transactions

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due to related parties
£
£
Key management personnel
62,534
32,251

Amounts owed to related parties are unsecured, interest free and repayable on demand.

2025-06-30 2024-07-01 false false false 24 March 2026 CCH Software CCH Accounts Production 2025.300 No description of principal activity K Watson K Watson true 12065129 2024-07-01 2025-06-30 12065129 2025-06-30 12065129 2024-06-30 12065129 core:OtherPropertyPlantEquipment 2025-06-30 12065129 core:OtherPropertyPlantEquipment 2024-06-30 12065129 core:CurrentFinancialInstruments 2025-06-30 12065129 core:CurrentFinancialInstruments 2024-06-30 12065129 core:Non-currentFinancialInstruments 2025-06-30 12065129 core:Non-currentFinancialInstruments 2024-06-30 12065129 core:ShareCapital 2025-06-30 12065129 core:ShareCapital 2024-06-30 12065129 core:RetainedEarningsAccumulatedLosses 2025-06-30 12065129 core:RetainedEarningsAccumulatedLosses 2024-06-30 12065129 core:ShareCapitalOrdinaryShareClass1 2025-06-30 12065129 core:ShareCapitalOrdinaryShareClass1 2024-06-30 12065129 bus:CompanySecretaryDirector1 2024-07-01 2025-06-30 12065129 core:PlantMachinery 2024-07-01 2025-06-30 12065129 core:FurnitureFittings 2024-07-01 2025-06-30 12065129 core:ComputerEquipment 2024-07-01 2025-06-30 12065129 core:MotorVehicles 2024-07-01 2025-06-30 12065129 2023-07-01 2024-06-30 12065129 core:OtherPropertyPlantEquipment 2024-06-30 12065129 core:OtherPropertyPlantEquipment 2024-07-01 2025-06-30 12065129 bus:OrdinaryShareClass1 2024-07-01 2025-06-30 12065129 bus:OrdinaryShareClass1 2025-06-30 12065129 bus:OrdinaryShareClass1 2024-06-30 12065129 core:KeyManagementPersonnel 2024-07-01 2025-06-30 12065129 core:KeyManagementPersonnel 2025-06-30 12065129 core:KeyManagementPersonnel 2024-06-30 12065129 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 12065129 bus:SmallCompaniesRegimeForAccounts 2024-07-01 2025-06-30 12065129 bus:FRS102 2024-07-01 2025-06-30 12065129 bus:AuditExemptWithAccountantsReport 2024-07-01 2025-06-30 12065129 bus:Director1 2024-07-01 2025-06-30 12065129 bus:CompanySecretary1 2024-07-01 2025-06-30 12065129 bus:FullAccounts 2024-07-01 2025-06-30 xbrli:pure xbrli:shares iso4217:GBP