Keyspace Development Strategies Limited - Period Ending 2018-02-28

Registration number: 10630434

Keyspace Development Strategies Limited

Annual Report and Unaudited Filleted Financial Statements

for the Period from 21 February 2017 to 28 February 2018

Keyspace Development Strategies Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Financial Statements	4 to 6

Keyspace Development Strategies Limited

Company Information

Directors

Mr AV Stevenson Mr S Copson

Registered office

Unit 5A Twigden Barns Creaton Northamptonshire NN6 8NN

Accountants

Michael J Emery & Co Limited 22 St John Street Newport Pagnell Buckinghamshire MK16 8HJ

Page 1

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Keyspace Development Strategies Limited
for the Period Ended 28 February 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Keyspace Development Strategies Limited for the period ended 28 February 2018 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Keyspace Development Strategies Limited, as a body, in accordance with the terms of our instructions. Our work has been undertaken solely to prepare for your approval the accounts of Keyspace Development Strategies Limited and state those matters that we have agreed to state to the Board of Directors of Keyspace Development Strategies Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Keyspace Development Strategies Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Keyspace Development Strategies Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Keyspace Development Strategies Limited. You consider that Keyspace Development Strategies Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Keyspace Development Strategies Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Michael J Emery & Co Limited
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

19 December 2018

Page 2

Keyspace Development Strategies Limited

(Registration number: 10630434)
Balance Sheet as at 28 February 2018

	Note	2018 £
Current assets
Debtors	4	7,818
Cash at bank and in hand		12
		7,830
Creditors: Amounts falling due within one year	5	(8,086)
Net liabilities		(256)
Capital and reserves
Called up share capital		4
Profit and loss account		(260)
Total equity		(256)

For the financial period ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 19 December 2018 and signed on its behalf by:
 

.........................................

Mr AV Stevenson

Director

.........................................

Mr S Copson

Director

The notes on pages 4 to 6 form an integral part of these financial statements.

Page 3

Keyspace Development Strategies Limited

Notes to the Financial Statements for the Period from 21 February 2017 to 28 February 2018

1	General information

The company is a private company limited by share capital incorporated in England and Wales, 10630434.

The address of its registered office is:
Unit 5A
Twigden Barns
Creaton
Northamptonshire
NN6 8NN

These financial statements were authorised for issue by the Board on 19 December 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Page 4

Keyspace Development Strategies Limited

Notes to the Financial Statements for the Period from 21 February 2017 to 28 February 2018

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company during the period, including directors, was 2.

4

Debtors

	2018 £
Directors loan account	5,900
Tax debtor	1,918
Total current trade and other debtors	7,818

5

Creditors

	Note	2018 £
Due within one year
Accruals		300
Corporation tax control		7,786
		8,086

Page 5

Keyspace Development Strategies Limited

Notes to the Financial Statements for the Period from 21 February 2017 to 28 February 2018

6	Related party transactions

Transactions with directors

2018	Advances to directors £	At 28 February 2018 £
Mr AV Stevenson
	5,900	5,900

Page 6