Company Registration No. 04819163 (England and Wales)
Advanced Keys Limited
Unaudited accounts
for the year ended 30 June 2026
Advanced Keys Limited
Company Information
for the year ended 30 June 2026
Directors
Greg Chambers
Barry Boustead
Company Number
04819163 (England and Wales)
Registered Office
Unit D1, OYO Business Park
187 Park Lane
Birmingham
B35 6AN
Accountants
Debbie Howard
12 Plantation Drive
Sutton Coldfield
West Midlands
B75 7JQ
Advanced Keys Limited
Statement of financial position
as at 30 June 2026
Tangible assets
2,163
3,452
Inventories
236,274
211,104
Cash at bank and in hand
136,849
83,353
Creditors: amounts falling due within one year
(157,591)
(119,757)
Net current assets
280,782
224,904
Total assets less current liabilities
282,945
233,377
Provisions for liabilities
Net assets
282,534
231,767
Called up share capital
60
65
Capital redemption reserve
60
55
Profit and loss account
282,414
231,647
Shareholders' funds
282,534
231,767
For the year ending 30 June 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2026 and were signed on its behalf by
Greg Chambers
Director
Company Registration No. 04819163
Advanced Keys Limited
Notes to the Accounts
for the year ended 30 June 2026
Advanced Keys Limited is a private company, limited by shares, registered in England and Wales, registration number 04819163. The registered office is Unit D1, OYO Business Park, 187 Park Lane, Birmingham, B35 6AN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Revenue from software subscriptions is recognised over time on a straight-line basis over the period of the subscription as the performance obligations are met. Amounts invoiced or received in advance are recorded as deferred income within current liabilities on the balance sheet.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & Machinery over 4 years
One-off intangible development and legal registration fees relating to the Custom Lock Removal Tool have been expensed immediately on the grounds of materiality. Given the highly specialized nature of the project and a projected 3-year stock lifecycle, capitalisation would create immaterial intangible balances (£2.2k consultancy / £0.2k trademark) that do not alter the true and fair view of the financial statements."
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Advanced Keys Limited
Notes to the Accounts
for the year ended 30 June 2026
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
On 4th September 2024 the Company resolved to purchase 30 of it's own £1 Ordinary shares from resigned Director - Kim Stainer
The total price to be paid was £105,000 and this purchase was made out of distributable profits and paid in 3 installments out of cash reserves
Year ended 30.06.25
Payment 1 of £70,000 was paid on 04.09.24 for 20 shares
Payment 2 of £17,500 was paid on 31.01.25 for 5 shares
Stamp Duty and Legal Fees of £440 and £2417.50 respectively were deducted from distributable profits
Year ended 30.06.26
Payment 3 of £17,500 was paid on 31.07.25 for 5 shares
Stamp Duty and Legal Fees of £90 and £363 respectively were deducted from distributable profits
Prepayments and Deferred Costs
Direct incremental costs incurred to acquire/fulfill customer contracts for software subscriptions are deferred as prepayments when they relate to future performance obligations and are amortised over the same subscription
period
Advanced Keys Limited
Notes to the Accounts
for the year ended 30 June 2026
4
Intangible fixed assets
Other
The Directors have indicated a useful life of 7 years for a website shown as an intangible asset
5
Tangible fixed assets
Plant & machinery
Amounts falling due within one year
Trade debtors
44,423
43,882
Accrued income and prepayments
20,827
5,068
Advanced Keys Limited
Notes to the Accounts
for the year ended 30 June 2026
7
Creditors: amounts falling due within one year
2026
2025
Trade creditors
41,363
48,864
Taxes and social security
37,504
10,743
Proposed dividends
20,000
40,000
8
Operating lease commitments
2026
2025
At 30 June 2026 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
-
4,309
Later than one year and not later than five years
-
17,238
Later than five years
-
4,310
The company is currently engaged in a legal dispute with a leasing provider regarding alleged unpaid balances on a lease agreement for a telephone system. The equipment has not been collected by the lessor, and the company is actively defending the claim through its legal advisors. Court proceedings have been stayed to allow both parties to participate in formal mediation. The directors have made a provision based on their best estimate of the probable financial outcome. The directors consider that the disclosure of the financial effect could seriously prejudice the company's position in ongoing mediation.
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Average number of employees
During the year the average number of employees was 5 (2025: 6).