Michael A Key Automobile Engineering Lim - Accounts to registrar (filleted) - small 18.2

Michael A Key Automobile Engineering Lim - Accounts to registrar (filleted) - small 18.2

MICHAEL A KEY AUTOMOBILE ENGINEERING LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v20.1.5.71 06696618 Board of Directors Board of Directors Board of Directors 1.10.18 30.9.19 30.9.19 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure066966182018-09-30066966182019-09-30066966182018-10-012019-09-30066966182017-09-30066966182017-10-012018-09-30066966182018-09-3006696618ns15:EnglandWales2018-10-012019-09-3006696618ns14:PoundSterling2018-10-012019-09-3006696618ns10:Director12018-10-012019-09-3006696618ns10:Director22018-10-012019-09-3006696618ns10:Director32018-10-012019-09-3006696618ns10:PrivateLimitedCompanyLtd2018-10-012019-09-3006696618ns10:SmallEntities2018-10-012019-09-3006696618ns10:AuditExempt-NoAccountantsReport2018-10-012019-09-3006696618ns10:SmallCompaniesRegimeForDirectorsReport2018-10-012019-09-3006696618ns10:SmallCompaniesRegimeForAccounts2018-10-012019-09-3006696618ns10:FullAccounts2018-10-012019-09-300669661812018-10-012019-09-3006696618ns10:CompanySecretary12018-10-012019-09-3006696618ns10:RegisteredOffice2018-10-012019-09-3006696618ns5:CurrentFinancialInstruments2019-09-3006696618ns5:CurrentFinancialInstruments2018-09-3006696618ns5:ShareCapital2019-09-3006696618ns5:ShareCapital2018-09-3006696618ns5:RetainedEarningsAccumulatedLosses2019-09-3006696618ns5:RetainedEarningsAccumulatedLosses2018-09-3006696618ns5:IntangibleAssetsOtherThanGoodwill2018-10-012019-09-3006696618ns5:PlantMachinery2018-10-012019-09-3006696618ns5:NetGoodwill2018-09-3006696618ns5:NetGoodwill2019-09-3006696618ns5:NetGoodwill2018-09-3006696618ns5:PlantMachinery2018-09-3006696618ns5:PlantMachinery2019-09-3006696618ns5:PlantMachinery2018-09-3006696618ns5:CurrentFinancialInstrumentsns5:WithinOneYear2019-09-3006696618ns5:CurrentFinancialInstrumentsns5:WithinOneYear2018-09-30
REGISTERED NUMBER: 06696618 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2019

for

Michael A Key Automobile Engineering
Limited
Michael A Key Automobile Engineering
Limited (Registered number: 06696618)






Contents of the Financial Statements
for the Year Ended 30 September 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Michael A Key Automobile Engineering
Limited

Company Information
for the Year Ended 30 September 2019







DIRECTORS: Mr Matthew Key
Mr Michael Key
Mrs Janet Key





SECRETARY: Mr Michael Key





REGISTERED OFFICE: The Old Dairy
Meadow Lane
Long Eaton
Nottingham
NG10 2FE





REGISTERED NUMBER: 06696618 (England and Wales)





ACCOUNTANTS: RDG Accounting Ltd
Suite 3, Chatsworth House
Prime Business Centre
Raynesway
Derby
Derbyshire
DE21 7SR
Page 1
Michael A Key Automobile Engineering
Limited (Registered number: 06696618)

Balance Sheet
30 September 2019

30.9.19 30.9.18
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 24,487 24,100
24,487 24,100

CURRENT ASSETS
Stocks 6,500 6,100
Debtors 6 41,541 92,904
Cash at bank and in hand 18,515 18,501
66,556 117,505
CREDITORS
Amounts falling due within one year 7 85,595 131,101
NET CURRENT LIABILITIES (19,039 ) (13,596 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
5,448
10,504

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 5,444 10,500
SHAREHOLDERS' FUNDS 5,448 10,504

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 22 June 2020 and were
signed on its behalf by:




Mr Matthew Key - Director Mr Michael Key - Director




Mrs Janet Key - Director


The notes form part of these financial statements

Page 2
Michael A Key Automobile Engineering
Limited (Registered number: 06696618)

Notes to the Financial Statements
for the Year Ended 30 September 2019

1. STATUTORY INFORMATION

Michael A Key Automobile Engineering Limited is a private company, limited by shares , registered in England
and Wales. The company's registered number and registered office address can be found on the Company
Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2018 - 7 ) .

Page 3 continued...
Michael A Key Automobile Engineering
Limited (Registered number: 06696618)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2019

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2018
and 30 September 2019 9,600
AMORTISATION
At 1 October 2018
and 30 September 2019 9,600
NET BOOK VALUE
At 30 September 2019 -
At 30 September 2018 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2018 106,301
Additions 8,985
At 30 September 2019 115,286
DEPRECIATION
At 1 October 2018 82,201
Charge for year 8,598
At 30 September 2019 90,799
NET BOOK VALUE
At 30 September 2019 24,487
At 30 September 2018 24,100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.19 30.9.18
£    £   
Trade debtors 40,989 41,704
Other debtors 552 51,200
41,541 92,904

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.19 30.9.18
£    £   
Trade creditors 27,935 20,968
Taxation and social security 22,299 19,848
Other creditors 35,361 90,285
85,595 131,101

Page 4