Jonathan Keys Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI065855

Jonathan Keys Limited

Filleted Unaudited Financial Statements

31 August 2025

Jonathan Keys Limited

Statement of Financial Position

31 August 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	7		39,648	3,877

Current assets

Stocks	8	73,761	79,036
Debtors	9	74,245	92,077
Cash at bank and in hand		54,477	81,071
		---------	---------
		202,483	252,184

Creditors: amounts falling due within one year	10	146,526		146,362
		---------		---------
Net current assets			55,957	105,822
			--------	---------
Total assets less current liabilities			95,605	109,699

Creditors: amounts falling due after more than one year	11		22,921	28,245

Provisions

Taxation including deferred tax	9,912	969
	--------	---------
Net assets	62,772	80,485
	--------	---------

Capital and reserves

Called up share capital	12	10	10
Profit and loss account		62,762	80,475
		--------	--------
Shareholders funds		62,772	80,485
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Director's responsibilities:

- The 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 Act with respect to accounting records and the preparation of financial statements .

Jonathan Keys Limited

Statement of Financial Position (continued)

31 August 2025

These financial statements were approved by the board of directors and authorised for issue on 16 February 2026 , and are signed on behalf of the board by:

Mr J Keys
Director

Company registration number: NI065855

Jonathan Keys Limited

Notes to the Financial Statements

Year ended 31 August 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is FEB Chartered Accountants, Linenhall Exchange, 26 Linenhall Street, Belfast, BT2 8BG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Property	-	6% straight line
Plant & Machinery	-	25% reducing balance
Fixtures & Fittings	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2024: 6 ).

5. Dividends

Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

	2025	2024
	£	£
Equity dividends on ordinary shares	115,000	110,000
	---------	---------

6. Intangible assets

	Goodwill
	£
Cost
At 1 September 2024 and 31 August 2025	300,000
	---------
Amortisation
At 1 September 2024 and 31 August 2025	300,000
	---------
Carrying amount
At 31 August 2025	–
	---------
At 31 August 2024	–
	---------

7. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Total
	£	£	£	£
Cost
At 1 September 2024	68,898	5,737	11,392	86,027
Additions	–	35,940	1,047	36,987
	--------	--------	--------	---------
At 31 August 2025	68,898	41,677	12,439	123,014
	--------	--------	--------	---------
Depreciation
At 1 September 2024	68,898	5,132	8,120	82,150
Charge for the year	–	152	1,064	1,216
	--------	--------	--------	---------
At 31 August 2025	68,898	5,284	9,184	83,366
	--------	--------	--------	---------
Carrying amount
At 31 August 2025	–	36,393	3,255	39,648
	--------	--------	--------	---------
At 31 August 2024	–	605	3,272	3,877
	--------	--------	--------	---------

8. Stocks

	2025	2024
	£	£
Raw materials and consumables	73,761	79,036
	--------	--------

9. Debtors

	2025	2024
	£	£
Trade debtors	23,610	15,999
Other debtors	50,635	76,078
	--------	--------
	74,245	92,077
	--------	--------

10. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	5,567	5,429
Trade creditors	79,475	49,664
Corporation tax	23,031	36,814
Social security and other taxes	11,806	25,537
Other creditors	26,647	28,918
	---------	---------
	146,526	146,362
	---------	---------

The bank loans and overdraft are secured by a fixed and floating charge over the suppliers of the company.

11. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	22,921	28,245
	--------	--------

12. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	10	10	10	10
	----	----	----	----

13. Director's advances, credits and guarantees

During the year, the Director repaid net loans of £18,705 to the company (2024: company made net loans of £27,124 to the director). At the year end there was a balance of £60,284 owing to the company (2024: £78,989).

14. Related party transactions

The company was under the control of Mr & Mrs Keys throughout the current and previous years. Mr Keys is the only director and Mr & Mrs Keys are the sole shareholders. Jonathan Keys Ballyhackamore Limited is also under the control of Mr & Mrs Keys. During the year, Jonathan Keys Limited received net loans of £7,500. (2024: £Nil) from Jonathan Keys Ballyhackamore Limited. At the year end the amount owed to Jonathan Keys Ballyhackamore Limited from Jonathan Keys Limited was £27,007 (2024: £19,507).