Company Registration No. 06552869 (England and Wales)
Keys Motorsport Limited
Unaudited accounts
for the year ended 30 April 2017
Keys Motorsport Limited
Unaudited accounts
Contents
Keys Motorsport Limited
Company Information
for the year ended 30 April 2017
Company Number
06552869 (England and Wales)
Registered Office
THE CORNER HOUSE
23 MARKET STREET
CRAVEN ARMS
SHROPSHIRE
SY7 9NW
Accountants
S A Acc'y Ltd
The Corner House
23 Market Street
Craven Arms
Shropshire
SY7 9NW
Keys Motorsport Limited
Statement of financial position
as at
30 April 2017
Tangible assets
4,888
6,009
Inventories
103,340
103,340
Creditors: amounts falling due within one year
(9,496)
(9,496)
Net current assets
93,844
93,844
Total assets less current liabilities
98,732
99,853
Creditors: amounts falling due after more than one year
(94,820)
(94,820)
Provisions for liabilities
Called up share capital
2
2
Profit and loss account
3,197
4,152
Shareholders' funds
3,199
4,154
For the year ending 30 April 2017 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 6 January 2018.
T Hutchinson
Director
Company Registration No. 06552869
Keys Motorsport Limited
Notes to the Accounts
for the year ended 30 April 2017
Keys Motorsport Limited is a private company, limited by shares, registered in England and Wales, registration number 06552869. The registered office is THE CORNER HOUSE, 23 MARKET STREET, CRAVEN ARMS, SHROPSHIRE, SY7 9NW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 30 April 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 May 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% per annum - reducing balance
Motor vehicles
25% per annum - reducing balance
Keys Motorsport Limited
Notes to the Accounts
for the year ended 30 April 2017
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 May 2016
12,336
16,050
28,386
At 30 April 2017
12,336
16,050
28,386
At 1 May 2016
8,521
13,856
22,377
Charge for the year
572
549
1,121
At 30 April 2017
9,093
14,405
23,498
At 30 April 2017
3,243
1,645
4,888
At 30 April 2016
3,815
2,194
6,009
Finished goods
103,340
103,340
6
Creditors: amounts falling due within one year
2017
2016
Taxes and social security
-
1,955
Other creditors
9,496
7,541
7
Creditors: amounts falling due after more than one year
2017
2016
Other creditors
94,820
94,820
8
Share capital
2017
2016
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
9
Average number of employees
During the year the average number of employees was 0 (2016: 0).