Company Registration No. 10978608 (England and Wales)
Kee Assets Ltd
Unaudited directors' report and financial statements
for the year ended 31 October 2021
Kee Assets Ltd
Unaudited directors' report and financial statements
Contents
Kee Assets Ltd
Company Information
for the year ended 31 October 2021
Directors
Mr P D Conroy
Mrs M Conroy
Company Number
10978608 (England and Wales)
Registered Office
93 Silverdale Avenue
Walton-On-Thames
Surrey
KT12 1EJ
Accountants
Wellden Turnbull Limited
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
Kee Assets Ltd
Statement of financial position
as at
31 October 2021
Investment property
3,534,100
3,534,100
Investments
1,286,184
1,067,322
Cash at bank and in hand
232,892
169,885
Creditors: amounts falling due within one year
(39,681)
(22,489)
Net current assets
1,487,395
1,214,718
Total assets less current liabilities
5,021,495
4,748,818
Creditors: amounts falling due after more than one year
(1,080,000)
(1,080,000)
Net assets
3,941,495
3,668,818
Called up share capital
100
100
Profit and loss account
3,941,395
3,668,718
Shareholders' funds
3,941,495
3,668,818
For the year ending 31 October 2021 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 directors acknowledge their 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.
The financial statements were approved by the Board of Directors and authorised for issue on 2 March 2022 and were signed on its behalf by
Mr P D Conroy
Director
Company Registration No. 10978608
Kee Assets Ltd
Notes to the Accounts
for the year ended 31 October 2021
Kee Assets Ltd is a private company, limited by shares, registered in England and Wales, registration number 10978608. The registered office is 93 Silverdale Avenue, Walton-On-Thames, Surrey, KT12 1EJ.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
These financial statements are presented in sterling, which is the functional currency of the company and rounded to the nearest £.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
Tax is recognised in the statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Investment property is included at fair value and the balance sheet date. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Kee Assets Ltd
Notes to the Accounts
for the year ended 31 October 2021
Investments in listed shares are included at fair value at the balance sheet date, with gains or losses in the period recognised in the income statement. Unlisted investments are included at cost less impairment.
4
Investment property
2021
Fair value at 1 November 2020
3,534,100
At 31 October 2021
3,534,100
The properties are held at market value at 31 October 2021, as determined by the directors.
5
Debtors: amounts falling due within one year
2021
2020
Accrued income and prepayments
8,000
-
6
Investments held as current assets
2021
2020
Listed investments
967,620
803,759
Unlisted investments
318,564
263,563
7
Creditors: amounts falling due within one year
2021
2020
Amounts owed to group undertakings and other participating interests
30,225
16,589
Taxes and social security
3,556
-
Deferred income
4,700
4,700
8
Creditors: amounts falling due after more than one year
2021
2020
Bank loans
1,080,000
1,080,000
The bank loan is secured by a charge over property.
9
Share capital
2021
2020
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Transactions with related parties
The company has taken the exemption under FRS102 Section 33.1A not to disclose transactions and balances with other members of the group on the basis they are wholly owned by the parent company.
Kee Assets Ltd
Notes to the Accounts
for the year ended 31 October 2021
11
Average number of employees
During the year the average number of employees was 0 (2020: 0).