Key2investing Limited
Key2investing Limited
Registered number: 11116722
Unaudited Financial Statements
For The Year Ended
31 December 2022
LAS Accountants LLP
Key2investing Limited
Unaudited Financial Statements
For The Year Ended
31 December 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Statement of Financial Position | 1 |
| Notes to the Financial Statements | 2—4 |
Page 1
Key2investing Limited
Statement of Financial Position
As At
31 December 2022
Statement of Financial Position
Registered number:
11116722
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
| 2022 | 2021 | ||||
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| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| NET LIABILITIES |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 7 |
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| Income Statement |
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| SHAREHOLDERS' FUNDS | (679) | (675) | |||
On behalf of the board
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Director
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The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Key2investing Limited
Notes to the Financial Statements
For The Year Ended
31 December 2022
Notes to the Financial Statements
1.
General Information
Key2investing Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
11116722
. The registered office is 22-25 Portman Close, London, W1H 6BS.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
These financial statements are prepared in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in UK sterling, which is the financial currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
The principle accounting policies adopted are set below.
2.2.
Going Concern Disclosure
The director has considered the prospect of the business for the next twelve months and beyond and has arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The Director has also pledged his financial support to assist with this if required.On this basis, the director will continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4.
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it related 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.
2.5.
Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
Government Assistance
The company received assistance in the form of a government backed loan (including Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS), Bounce Back Loan Scheme (BBLS) and Future Fund Scheme) of £45,833 during the year ended 31 Dec 2021. This is reported the current and long term liabilities of the balance sheet based on the allocation of payments due within 12 months and greater than 12 months.
2.6.
Financial Instruments
The company only enters into basic financial transactions that result in the recoginition of financial assets and liabilities like trade and other debtors,creditors, loans from banks and other parties, loans to related parties and investments in non- puttable ordinary shares.
2.7.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call banks, other short-term liquid investments with original maturitiesof three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Page 2
Page 3
Key2investing Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
2.8.
Critical Accounting Judgements And Key Sources Of Estimation Uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carryingvalue of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historicalexperience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period inwhich the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions areestimated based upon the expected values of the invoices which are issued and services received following the period end.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
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| Office and administration |
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4.
Debtors
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| £ | £ | ||
| Due within one year | |||
| Cato Services Limited |
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| Vestrow Limited |
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5.
Creditors: Amounts Falling Due Within One Year
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| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Accruals and deferred income |
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| Director's loan account |
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6.
Creditors: Amounts Falling Due After More Than One Year
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| £ | £ | ||
| HMRC loan |
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7.
Share Capital
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| £ | £ | ||
| Allotted, Called up and fully paid |
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The nominal value per share is £1 and there are 100 Ordinary shares in issue.
Page 3
Page 4
Key2investing Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
8.
Related Party Transactions
The Director Loan Account balance of £529 is a current liability, is interest free and repayable on demand.
Page 4