Key Marketing Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04287333 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2021

for

KEY MARKETING SERVICES LIMITED

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

N Copp

Ms M Lively

REGISTERED OFFICE:

Unit 1, Mill Place

Platt Business Estate

Maidstone

Sevenoaks

Kent

TN15 8TB

REGISTERED NUMBER:

04287333 (England and Wales)

ACCOUNTANTS:

Lees Chartered Accountants

The Granary

Brewer Street

Bletchingley

Surrey

RH1 4QP

The directors present their report with the financial statements of the company for the year ended 31 December 2021.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2021 to the date of this report.

N Copp

Ms M Lively

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

N Copp - Director

23 May 2022

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

54,747

24,938

Investments

6

500,000

450,000

554,747

474,938

CURRENT ASSETS

Stocks

15,836

9,000

Debtors

7

1,339,547

967,188

Cash at bank

15,756

28,119

1,371,139

1,004,307

CREDITORS

Amounts falling due within one year

8

1,323,964

1,239,546

NET CURRENT ASSETS/(LIABILITIES)

47,175

(235,239

)

TOTAL ASSETS LESS CURRENT LIABILITIES

601,922

239,699

CREDITORS

Amounts falling due after more than one year

9

(433,333

)

(170,000

)

PROVISIONS FOR LIABILITIES

(3,313

)

(3,826

)

NET ASSETS

165,276

65,873

CAPITAL AND RESERVES

Called up share capital

116

116

Capital redemption reserve

(89,916

)

(89,916

)

Retained earnings

255,076

155,673

SHAREHOLDERS' FUNDS

165,276

65,873

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2022 and were signed on its behalf by:

N Copp - Director

1.	STATUTORY INFORMATION

Key Marketing Services 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.

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

-

25% on cost

Fixtures and fittings

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 Statement of Income and Retained Earnings, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2020 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2021

and 31 December 2021

35,000

AMORTISATION

At 1 January 2021

and 31 December 2021

35,000

NET BOOK VALUE

At 31 December 2021

-

At 31 December 2020

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2021

322,959

7,615

330,574

Additions

12,000

43,055

55,055

At 31 December 2021

334,959

50,670

385,629

DEPRECIATION

At 1 January 2021

298,021

7,615

305,636

Charge for year

23,993

1,253

25,246

At 31 December 2021

322,014

8,868

330,882

NET BOOK VALUE

At 31 December 2021

12,945

41,802

54,747

At 31 December 2020

24,938

-

24,938

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2021

450,000

Additions

50,000

At 31 December 2021

500,000

NET BOOK VALUE

At 31 December 2021

500,000

At 31 December 2020

450,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

765,749

464,933

Amounts owed by group undertakings

150,000

-

Other debtors

14,950

15,000

Directors' current accounts

278,825

353,825

Tax

114,400

114,400

Prepayments

15,623

19,030

1,339,547

967,188

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans, overdrafts and other loans

474,846

193,673

Trade creditors

397,860

371,283

Amounts owed to group undertakings

137,569

301,369

Tax

-

1,984

Social security and other taxes

31,845

99,324

VAT

111,846

112,732

Other creditors

166,815

111,728

Pensions

3,183

5,539

Accruals and deferred income

-

41,914

1,301,426

1,239,546

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Other loans - 1-2 years

40,000

30,000

Other loans - 2-5 years

93,333

140,000

Amounts owed to group undertakings

300,000

-

433,333

170,000

10.	ULTIMATE CONTROLLING PARTY

The controlling party is N Copp.