KEAS Trading Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08390484 (England and Wales)

KEAS TRADING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 27 FEBRUARY 2023

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K Stanton

Mrs E Stanton

REGISTERED OFFICE:

3 Chapman Way

Tunbridge Wells

Kent

TN2 3EF

REGISTERED NUMBER:

08390484 (England and Wales)

ACCOUNTANTS:

Hilden Park Accountants Limited

Hilden Park House

79 Tonbridge Road

Hildenborough

Tonbridge

Kent

TN11 9BH

FIXED ASSETS

Tangible assets

4

38,779

893

Investments

5

24,000

4,000

Investment property

6

775,200

1,360,000

837,979

1,364,893

CURRENT ASSETS

Debtors

75,973

99,364

Cash at bank

14,804

11,652

90,777

111,016

CREDITORS

Amounts falling due within one year

26,209

30,815

NET CURRENT ASSETS

64,568

80,201

TOTAL ASSETS LESS CURRENT LIABILITIES

902,547

1,445,094

CREDITORS

Amounts falling due after more than one year

-

567,057

NET ASSETS

902,547

878,037

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

902,546

878,036

902,547

878,037

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 February 2023 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 27 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 23 November 2023 and were signed on its behalf by:

K Stanton - Director

1.	STATUTORY INFORMATION

KEAS Trading 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

Due to the extended accounting period in the previous period, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

Turnover

Turnover is measured at the value of the consideration received or receivable, net of discounts and value added taxes, for the sale of other office machinery.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

4% on cost

Office equipment

-

20% on cost

Investments in subsidiaries

Investments in subsidiaries held at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 NIL (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 28 February 2022

1,116

Additions

39,697

At 27 February 2023

40,813

DEPRECIATION

At 28 February 2022

223

Charge for year

1,811

At 27 February 2023

2,034

NET BOOK VALUE

At 27 February 2023

38,779

At 27 February 2022

893

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 28 February 2022

4,000

Additions

20,000

At 27 February 2023

24,000

NET BOOK VALUE

At 27 February 2023

24,000

At 27 February 2022

4,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 28 February 2022

1,360,000

Disposals

(584,800

)

At 27 February 2023

775,200

NET BOOK VALUE

At 27 February 2023

775,200

At 27 February 2022

1,360,000

Revaluations take place with sufficient regularity to ensure that the carrying amount of the revalued asset at the reporting date does not differ materially from that which would be determined using fair value at the reporting date.

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 27 February 2023 and 27 February 2022:

27/2/23

27/2/22

£

£

K Stanton

Balance outstanding at start of year

29,146

38,366

Amounts advanced

20,061

36,280

Amounts repaid

(45,000

)

(45,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

4,207

29,146

The director's loan account is repayable within 9 months of the balance sheet date. Interest was charged by the company to the director at the official rate for periods when the balance exceeded £10,000.