| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| FOR |
| KEYSEEK LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| FOR |
| KEYSEEK LIMITED |
| KEYSEEK LIMITED (REGISTERED NUMBER: 02791776) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| KEYSEEK LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 3 Blacklands Crescent |
| Forest Row |
| East Sussex |
| RH18 5NN |
| KEYSEEK LIMITED (REGISTERED NUMBER: 02791776) |
| STATEMENT OF FINANCIAL POSITION |
| 28 FEBRUARY 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| KEYSEEK LIMITED (REGISTERED NUMBER: 02791776) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 28 FEBRUARY 2025 |
| The financial statements were approved by the director and authorised for issue on |
| KEYSEEK LIMITED (REGISTERED NUMBER: 02791776) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| 1. | STATUTORY INFORMATION |
| Keyseek Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| KEYSEEK LIMITED (REGISTERED NUMBER: 02791776) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 March 2024 |
| Disposals | ( |
) | ( |
) |
| At 28 February 2025 |
| DEPRECIATION |
| At 1 March 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 28 February 2025 |
| NET BOOK VALUE |
| At 28 February 2025 |
| At 29 February 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 March 2024 |
| and 28 February 2025 |
| NET BOOK VALUE |
| At 28 February 2025 |
| At 29 February 2024 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 March 2024 |
| Revaluations |
| At 28 February 2025 |
| NET BOOK VALUE |
| At 28 February 2025 |
| At 29 February 2024 |
| KEYSEEK LIMITED (REGISTERED NUMBER: 02791776) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| 6. | INVESTMENT PROPERTY - continued |
| Cost or valuation at 28 February 2025 is represented by: |
| £ |
| Valuation in 2020 | 204,239 |
| Valuation in 2021 | 23,120 |
| Valuation in 2022 | 45,000 |
| Valuation in 2023 | (25,000 | ) |
| Valuation in 2024 | 55,000 |
| Valuation in 2025 | 30,000 |
| Cost | 272,641 |
| 605,000 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 272,641 | 272,641 |
| Investment property was valued on an open market basis on 28 February 2025 by the director . |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| West One Secured Loans |
| Birmingham Midshires Loan | 386,290 | 386,290 |
| Landbay mortgage | - | 306,000 |
| Landinvest mortgage | 263,976 | 263,976 |
| KEYSEEK LIMITED (REGISTERED NUMBER: 02791776) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| The loans are secured against the company's development and investment properties and are repayable when the properties are sold. |
| 11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the year ended 28 February 2025 and the period ended 29 February 2024: |
| 2025 | 2024 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| The loan due to or from the director is unsecured and repayable on demand. Interest at 2.25% per annum is charged by the company on any amounts due to the company, but the loan is otherwise interest free. |
| 12. | RELATED PARTY DISCLOSURES |
| Included in other creditors is an amount due to STA Properties Limited of £158,421. This company is owned by E W Pape and S P Pape. The loan is interest free, unsecured and repayable on demand. |