Company Registration No. 11505632 (England and Wales)
Keystone Chesterfield Ltd
Unaudited accounts
for the year ended 31 July 2022
Keystone Chesterfield Ltd
Statement of financial position
as at 31 July 2022
Tangible assets
7,919
17,080
Cash at bank and in hand
71,260
63,649
Creditors: amounts falling due within one year
(8,590)
(22,333)
Net current assets
85,746
52,593
Total assets less current liabilities
93,665
69,673
Creditors: amounts falling due after more than one year
(55,475)
(64,282)
Provisions for liabilities
Deferred tax
(1,505)
(3,245)
Called up share capital
120
120
Profit and loss account
36,565
2,026
Shareholders' funds
36,685
2,146
For the year ending 31 July 2022 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 director acknowledges his 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 and authorised for issue on 27 February 2023 and were signed on its behalf by
John McCollum
Director
Company Registration No. 11505632
Keystone Chesterfield Ltd
Notes to the Accounts
for the year ended 31 July 2022
Keystone Chesterfield Ltd is a private company, limited by shares, registered in England and Wales, registration number 11505632. The registered office is 28 High Street, Bidford on Avon, Alcester, Warwickshire, B50 4AA, United Kingdom.
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.
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.
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:
Motor vehicles
4 years straight line
Fixtures & fittings
4 years straight line
Computer equipment
3 years straight line
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.
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.
Keystone Chesterfield Ltd
Notes to the Accounts
for the year ended 31 July 2022
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2021
7,000
32,327
-
39,327
At 31 July 2022
7,000
32,327
1,007
40,334
At 1 August 2021
3,500
18,747
-
22,247
Charge for the year
1,750
8,082
336
10,168
At 31 July 2022
5,250
26,829
336
32,415
At 31 July 2022
1,750
5,498
671
7,919
At 31 July 2021
3,500
13,580
-
17,080
Amounts falling due within one year
Trade debtors
17,390
6,661
Accrued income and prepayments
4,086
2,865
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
6,000
6,000
Obligations under finance leases and hire purchase contracts
172
1,944
Taxes and social security
25,493
12,493
Other creditors
1,092
1,077
Loans from directors
(28,044)
(840)
7
Creditors: amounts falling due after more than one year
2022
2021
Obligations under finance leases and hire purchase contracts
-
168
Other creditors
38,475
41,114
Keystone Chesterfield Ltd
Notes to the Accounts
for the year ended 31 July 2022
Allotted, called up and fully paid:
120 Ordinary shares of £1 each
120
120
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan Account
840
27,204
-
28,044
Interest was charged on the loan at the rate of 2.00%
10
Average number of employees
During the year the average number of employees was 10 (2021: 10).
