Jim_Keeley_Associates_Ltd_28_Feb_2026_companies_house_set_of

Jim Keeley Associates Ltd

Statement of Financial Position

28 February 2026

		2026		2025
	Note	£		£
Fixed assets
Tangible assets	5	483,000		483,000
Current assets
Debtors	6	-		1,815
Cash at bank and in hand		25,399		30,753
		25,399		32,568
Creditors: amounts falling due within one year	7	(11,933	)	(13,372	)
Net current assets		13,466		19,196
Total assets less current liabilities		496,466		502,196
Creditors: amounts falling due after more than one year	8	(125,400	)	(125,400	)
Provisions for liabilities		(28,247	)	(28,247	)
Net assets		342,819		348,549
Capital and reserves
Called up share capital		100		100
Other reserves		99,310		99,310
Profit and loss account		243,409		249,139
Shareholders funds		342,819		348,549

For the year ending

28 February 2026

, 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 their responsibilities for complying with the requirements of the Act 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.

In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.

These

financial statements

were approved by the board of directors and authorised for issue on

1 July 2026

, and are signed on behalf of the board by:

P Keeley

Director

Company registration number:

05031530

Jim Keeley Associates Ltd

Notes to the Financial Statements

Year ended

28 February 2026

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

4 Chelsea Close

Nuneaton

Warwickshire

CV11 6UD

, United Kingdom.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services supplied, net of discounts and Value Added Tax.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount 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 capital and reserves. However, the increase is recognised in profit or loss to the extent that 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 capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

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

Fixtures and fittings

3 years straight line

Investment properties

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment

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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows:

Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost.

All other financial instruments are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

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 in finance costs in profit or loss in the period it arises.

4 Average number of employees

The average number of persons employed by the company during the year was nil (2025: nil).

5 Tangible assets

	Land and buildings	Plant and machinery etc.	Total
	£	£	£
Cost
At 1 March 2025 and 28 February 2026	483,000	7,226	490,226
Depreciation
At 1 March 2025 and 28 February 2026	-	7,226	7,226
Carrying amount
At 28 February 2026	483,000	-	483,000
At 28 February 2025	483,000	-	483,000

Tangible assets held at valuation

In respect of tangible assets held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Land and buildings	Land and buildings
	2026	2025
	£	£
Aggregate historical cost	355,443	355,443
Carrying amount	355,443	355,443

The investment properties were valued by the director at 28th February 2026.

Investment property

Included in land and buildings are the following amounts in relation to investment properties:

	2026
	£
Carrying value at 1 March 2025 and 28 February 2026	483,000

6 Debtors

	2026		2025
	£		£
Trade debtors	-		1,815

7 Creditors: amounts falling due within one year

	2026	2025
	£	£
Taxation and social security	2,802	4,589
Other creditors	9,131	8,783
	11,933	13,372

8 Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans and overdrafts	125,400		125,400

The bank loan of £125,400 (2025 : £125,400) is secured by a fixed charge over freehold property.

9 Fair value reserve

Included within other reserves is the fair value reserve as follows:

	2026	2025
	£	£
At start of year	99,310	117,294
Reclassification from fair reserve to profit and loss account	-	(17,984	)
At end of year	99,310	99,310