Micro-entity Accounts - KEYDOWN LIMITED

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Registered Number 02939364

KEYDOWN LIMITED

Micro-entity Accounts

30 June 2017

KEYDOWN LIMITED Registered Number 02939364

Micro-entity Balance Sheet as at 30 June 2017

	Notes	2017	2016
		£	£
Fixed assets
Tangible assets	1	1,331,814	1,331,814
		1,331,814	1,331,814
Current assets
Debtors		192,490	171,719
		192,490	171,719
Creditors: amounts falling due within one year		(232,900)	(192,377)
Net current assets (liabilities)		(40,410)	(20,658)
Total assets less current liabilities		1,291,404	1,311,156
Creditors: amounts falling due after more than one year		(432,000)	(471,326)
Total net assets (liabilities)		859,404	839,830
Capital and reserves
Called up share capital	2	100	100
Profit and loss account		859,304	839,730
Shareholders' funds		859,404	839,830

For the year ending 30 June 2017 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 27 February 2018

And signed on their behalf by:
F B Ford, Director

KEYDOWN LIMITED Registered Number 02939364

Notes to the Micro-entity Accounts for the period ended 30 June 2017

1Tangible fixed assets

	£
Cost
At 1 July 2016	1,331,814
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 June 2017	1,331,814
Depreciation
At 1 July 2016	-
Charge for the year	-
On disposals	-
At 30 June 2017	-
Net book values
At 30 June 2017	1,331,814
At 30 June 2016	1,331,814

2Called Up Share Capital
Allotted, called up and fully paid:

	2017 £	2016 £
1 C Ordinary share of £1 each	1	1
66 A Ordinary shares of £1 each	66	66
33 B Ordinary shares of £1 each	33	33

3Accounting Policies

Basis of measurement and preparation of accounts
Accounting Policies

Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and Include the results of the Company's operations which are described in the Director’s Report and all of which are continuing.

The Company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cash flow statement on the
grounds that it is a small Company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the Company, net of Value Added Tax and trade discounts.

Investment Properties

In accordance with SSAP 19, (1) investment properties are re-valued annually and the aggregate surplus or deficit is transferred to a revaluation reserve, and (2) no depreciation is provided in respect of freehold investment properties. This is a departure from the Companies Act 1985 which requires assets which have a finite useful life to be depreciated where their cost (or valuation) is greater than their residual value (as assessed at the date of acquisition or valuation). The Directors consider that, following the reasoning in SSAP 19, depreciating the assets would not give a true and fair view because they are held for investment and not consumption. Consequently the current value of these investments, and changes in that current value, are of prime importance in assessing the financial position rather than a calculation of systematic annual depreciation and therefore the accounting policy adopted results in the accounts giving a true and fair view. Depreciation or amortisation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Deferred Taxation

Deferred taxation is provided using the liability method in respect of the taxation effect of all timing differences other than those expected with reasonable probability to continue in the foreseeable future.