Company Registration No. 09824408 (England and Wales)
Keeley Green Designs Limited
Annual report and unaudited financial statements
For the year ended 31 March 2020
Pages for filing with registrar
KEELEY GREEN DESIGNS LIMITED
Keeley Green Designs Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
KEELEY GREEN DESIGNS LIMITED
Keeley Green Designs Limited
BALANCE SHEET
AS AT
31 MARCH 2020
31 March 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
4
727
1,091
Investments
5
50
50
777
1,141
Current assets
Debtors
6
512,718
373,824
Cash at bank and in hand
2,540
2,196
515,258
376,020
Creditors: amounts falling due within one year
7
(586,850)
(442,663)
Net current liabilities
(71,592)
(66,643)
Total assets less current liabilities
(70,815)
(65,502)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
(70,915)
(65,602)
Total equity
(70,815)
(65,502)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
KEELEY GREEN DESIGNS LIMITED
Keeley Green Designs Limited
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2020
31 March 2020
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 10 November 2020
K A Green
Director
Company Registration No. 09824408
KEELEY GREEN DESIGNS LIMITED
Keeley Green Designs Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
- 3 -
1
Accounting policies
Company information
Keeley Green Designs Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
55 Loudoun Road, St John's Wood, London, NW8 0DL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company recorded a loss of £
5,313
(201
9
: £
8284 loss
) for the year. The company continues to meet its day-to-day working capital requirements from the continued support of its director. The director is satisfied that she can continue to finance the business in this manner. Accordingly, the director considers it appropriate to prepare these financial statements on a going concern basis. The financial statements do not include any adjustment that would result from a withdrawal of the support of the director.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
KEELEY GREEN DESIGNS LIMITED
Keeley Green Designs Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
1
Accounting policies
(Continued)
- 4 -
1.6
Cash at bank and in hand
Cash and cash equivalents
are basic financial assets
and
include cash in hand
and
deposits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 0
(2019 - 0).
3
Taxation
The company has estimated losses of £
71,612
(201
9
:
£
66,663
) available for carry forward against future trading profits.
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2019 and 31 March 2020
2,587
Depreciation and impairment
At 1 April 2019
1,496
Depreciation charged in the year
364
At 31 March 2020
1,860
Carrying amount
At 31 March 2020
727
At 31 March 2019
1,091
5
Fixed asset investments
2020
2019
£
£
Investments
50
50
KEELEY GREEN DESIGNS LIMITED
Keeley Green Designs Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
5
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2019 & 31 March 2020
50
Carrying amount
At 31 March 2020
50
At 31 March 2019
50
6
Debtors
2020
2019
Amounts falling due within one year:
£
£
Corporation tax recoverable
2,643
2,643
Amounts owed by group undertakings
510,002
371,101
Other debtors
73
80
512,718
373,824
7
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
17
479
Other creditors
586,833
442,184
586,850
442,663
8
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary share of £1 each
100
100
KEELEY GREEN DESIGNS LIMITED
Keeley Green Designs Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 6 -
9
Related party transactions
Ailanto
Design
Limited
is a company in which
Keeley Green Designs Limited own 50% of the share holding
. At the period end the company was owed £510,002
(201
9
:
£371,101
)
by
Ailanto
Design
Limited.