Keyser Limited Filleted accounts for Companies House (small and micro)

Keyser Limited Filleted accounts for Companies House (small and micro)

KEYSER LIMITED - Company Information

Print Friendly Version

8 false false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,430 1,416 486 1,902 528 1,014 xbrli:pure xbrli:shares iso4217:GBP 07789394 2022-10-01 2023-09-30 07789394 2023-09-30 07789394 2022-09-30 07789394 2021-10-01 2022-09-30 07789394 2022-09-30 07789394 2021-09-30 07789394 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-10-01 2023-09-30 07789394 core:PlantMachinery 2022-10-01 2023-09-30 07789394 bus:Director1 2022-10-01 2023-09-30 07789394 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-09-30 07789394 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-30 07789394 core:LandBuildings 2022-09-30 07789394 core:PlantMachinery 2022-09-30 07789394 core:LandBuildings 2023-09-30 07789394 core:PlantMachinery 2023-09-30 07789394 core:LandBuildings 2022-10-01 2023-09-30 07789394 core:WithinOneYear 2023-09-30 07789394 core:WithinOneYear 2022-09-30 07789394 core:AfterOneYear 2023-09-30 07789394 core:AfterOneYear 2022-09-30 07789394 core:ShareCapital 2023-09-30 07789394 core:ShareCapital 2022-09-30 07789394 core:RetainedEarningsAccumulatedLosses 2023-09-30 07789394 core:RetainedEarningsAccumulatedLosses 2022-09-30 07789394 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-09-30 07789394 core:LandBuildings 2022-09-30 07789394 core:PlantMachinery 2022-09-30 07789394 bus:Director1 2022-09-30 07789394 bus:Director1 2023-09-30 07789394 bus:Director1 2021-09-30 07789394 bus:Director1 2022-09-30 07789394 bus:Director1 2021-10-01 2022-09-30 07789394 bus:SmallEntities 2022-10-01 2023-09-30 07789394 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 07789394 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 07789394 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 07789394 bus:FullAccounts 2022-10-01 2023-09-30 07789394 core:LandBuildings core:LongLeaseholdAssets 2022-10-01 2023-09-30 07789394 core:FurnitureFittingsToolsEquipment 2022-10-01 2023-09-30 07789394 core:FurnitureFittingsToolsEquipment 2022-09-30 07789394 core:FurnitureFittingsToolsEquipment 2023-09-30
COMPANY REGISTRATION NUMBER: 07789394
Keyser Limited
Filleted Unaudited Financial Statements
30 September 2023
Keyser Limited
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
528
1,014
Tangible assets
6
144,846
78,047
---------
--------
145,374
79,061
Current assets
Stocks
83,000
54,538
Debtors
7
2,191
9,637
--------
--------
85,191
64,175
Creditors: amounts falling due within one year
8
222,904
134,826
---------
---------
Net current liabilities
137,713
70,651
---------
--------
Total assets less current liabilities
7,661
8,410
Creditors: amounts falling due after more than one year
9
46,779
88,102
Provisions
Taxation including deferred tax
12,521
12,521
--------
--------
Net liabilities
( 51,639)
( 92,213)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 51,739)
( 92,313)
--------
--------
Shareholders deficit
( 51,639)
( 92,213)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Keyser Limited
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 5 April 2024 , and are signed on behalf of the board by:
Mr E A Keyser
Director
Company registration number: 07789394
Keyser Limited
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in Engalnd and Wales. The address of the registered office is Oakley House, Tetbury Road, Cirencester, GL7 1US.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long Leasehold
-
No longer depreciated
Plant and machinery
-
7% straight line
Fixtures, fittings and equipment
-
12% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2022: 8 ).
5. Intangible assets
Development costs
Other intangible assets
£
£
Cost
At 1 October 2022 and 30 September 2023
2,430
–
-------
----
Amortisation
At 1 October 2022
1,416
–
Charge for the year
486
–
-------
----
At 30 September 2023
1,902
–
-------
----
Carrying amount
At 30 September 2023
528
–
-------
----
At 30 September 2022
1,014
–
-------
----
6. Tangible assets
Land and buildings
Plant and machinery
Equipment
Total
£
£
£
£
Cost
At 1 October 2022
18,981
134,055
45,133
198,169
Additions
–
53,718
18,999
72,717
Disposals
–
( 4,093)
–
( 4,093)
--------
---------
--------
---------
At 30 September 2023
18,981
183,680
64,132
266,793
--------
---------
--------
---------
Depreciation
At 1 October 2022
6,833
84,886
28,403
120,122
Charge for the year
( 6,833)
1,564
7,357
2,088
Disposals
–
( 263)
–
( 263)
--------
---------
--------
---------
At 30 September 2023
–
86,187
35,760
121,947
--------
---------
--------
---------
Carrying amount
At 30 September 2023
18,981
97,493
28,372
144,846
--------
---------
--------
---------
At 30 September 2022
12,148
49,169
16,730
78,047
--------
---------
--------
---------
7. Debtors
2023
2022
£
£
Trade debtors
510
8,350
Other debtors
1,681
1,287
-------
-------
2,191
9,637
-------
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
44,065
22,211
Trade creditors
35,090
16,850
Social security and other taxes
21,499
14,120
Other creditors - Company Credit Card
6,362
4,161
Other creditors
115,888
77,484
---------
---------
222,904
134,826
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
46,779
88,102
--------
--------
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr E A Keyser
( 71,059)
54,745
( 16,314)
--------
--------
--------
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr E A Keyser
( 66,498)
( 4,561)
( 71,059)
--------
-------
--------