Company No: 04668556 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Unaudited Financial Statements

DIRECTORS	S A C Hurst
	R P Iles
	A R Jefferies
	A K Redgers
SECRETARY	S Davies
REGISTERED OFFICE	764-766 Fishponds Road
	Fishponds
	Bristol
	BS16 3UA
	United Kingdom
COMPANY NUMBER	04668556(England and Wales)
CHARTERED ACCOUNTANTS	Bishop Fleming LLP
	10 Temple Back
	Bristol
	BS1 6FL

	Note	2021		2020
		£		£
Fixed assets
Tangible assets	3	126,354		564,768
Investments	4	100		100
		126,454		564,868
Current assets
Debtors	5	4,149,306		36,000
Cash at bank and in hand		57,444		2,785,459
		4,206,750		2,821,459
Creditors
Amounts falling due within one year	6	( 542,118)		( 112,527)
Net current assets		3,664,632		2,708,932
Total assets less current liabilities		3,791,086		3,273,800
Provisions for liabilities		( 12,233)		( 13,710)
Net assets		3,778,853		3,260,090
Capital and reserves
Called-up share capital	7	128		128
Capital redemption reserve		72		72
Profit and loss account		3,778,653		3,259,890
Total shareholder's funds		3,778,853		3,260,090

For the financial year ending 31 March 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Keyplan Services Limited (registered number: 04668556) were approved and authorised for issue by the Board of Directors on 14 October 2021. They were signed on its behalf by:

A R Jefferies Director

S A C Hurst Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.

General information and basis of accounting

Keyplan Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 764-766 Fishponds Road, Fishponds, Bristol, BS16 3UA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

The functional currency of Keyplan Services Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as other creditors in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
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 financial statements. 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight line or reducing balance basis over its expected useful life, as follows:

Freehold property - 2% straight line
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Investments
Investments in subsidiaries are measured at cost less accumulated impairment.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2021		2020
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 April 2020	580,043		181,306		225,731		987,080
Additions	0		12,523		13,870		26,393
Disposals	( 580,043)		( 40,966)		( 9,629)		( 630,638)
At 31 March 2021	0		152,863		229,972		382,835
Accumulated depreciation
At 01 April 2020	162,411		144,688		115,213		422,312
Charge for the financial year	0		8,864		29,573		38,437
Disposals	( 162,411)		( 33,513)		( 8,344)		( 204,268)
At 31 March 2021	0		120,039		136,442		256,481
Net book value
At 31 March 2021	0		32,824		93,530		126,354
At 31 March 2020	417,632		36,618		110,518		564,768

4. Fixed asset investments

Investments in subsidiaries

	2021
	£
Cost
At 01 April 2020	100
At 31 March 2021	100
Carrying value at 31 March 2021	100
Carrying value at 31 March 2020	100

5. Debtors

	2021		2020
	£		£
Amounts owed by Group undertakings	4,149,306		0
Other debtors	0		36,000
	4,149,306		36,000

Amounts owed by Group undertakings are repayable on demand and do not bear interest.

6. Creditors: amounts falling due within one year

	2021		2020
	£		£
Trade creditors	4,600		19,134
Amounts owed to Group undertakings	516,791		0
Other creditors	1,151		30,000
Accruals	5,399		5,399
Corporation tax	0		34,537
Other taxation and social security	14,177		23,457
	542,118		112,527

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

7. Called-up share capital

	2021		2020
	£		£
Allotted, called-up and fully-paid
128 Ordinary shares of £ 1.00 each	128		128

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2021		2020
	£		£
- within one year	37,500		0
- between one and five years	115,625		0
	153,125		0

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2021		2020
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	1,151		0

9. Related party transactions

The company has taken advantage of the exemption available under FRS 102 section 1 ac 35 of FRS 102 to not disclose transactions with other group undertakings within a wholly owned group.

The company disposed of a property during the year to an company which was under common control. The disposal proceeds were £780,000 and no amount is outstanding in relation to this transaction.

The company rents a property from a company which is controlled by key management personnel. The total rent paid in the period was £43,750 (2020: £Nil). No amount was outstanding at the year end.