Keys 2011 Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 07585399 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2015

FOR

KEYS 2011 LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

S P Cass

REGISTERED OFFICE:

Flat 3 Harry Court

13 Wenlock Gardens

London

NW4 4XJ

REGISTERED NUMBER:

07585399 (England and Wales)

FIXED ASSETS

Intangible assets

2

6,666

13,333

Tangible assets

3

838

1,158

7,504

14,491

CURRENT ASSETS

Stocks

2,500

2,750

Debtors

1,060

-

Cash at bank and in hand

1,644

2,389

5,204

5,139

CREDITORS

Amounts falling due within one year

11,851

18,101

NET CURRENT LIABILITIES

(6,647

)

(12,962

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

857

1,529

CAPITAL AND RESERVES

Called up share capital

4

1

Profit and loss account

856

1,528

SHAREHOLDERS' FUNDS

857

1,529

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 12 May 2016 and were signed by:

S P Cass - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

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

Plant and machinery etc

-

50% on reducing balance and 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2014

and 31 May 2015

20,000

AMORTISATION

At 1 June 2014

6,667

Amortisation for year

6,667

At 31 May 2015

13,334

NET BOOK VALUE

At 31 May 2015

6,666

At 31 May 2014

13,333

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2014

and 31 May 2015

3,159

DEPRECIATION

At 1 June 2014

2,001

Charge for year

320

At 31 May 2015

2,321

NET BOOK VALUE

At 31 May 2015

838

At 31 May 2014

1,158

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.15

31.5.14

value:

£

1

ordinary

£1

1