R. T. Keedwell Holdings Limited - Period Ending 2021-10-31
R. T. Keedwell Holdings Limited - Period Ending 2021-10-31
Company Registration number:
for the Year Ended
R. T. Keedwell Holdings Limited
Contents
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Company Information |
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Strategic Report |
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Director's Report |
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Statement of Director's Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
R. T. Keedwell Holdings Limited
Company Information
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Director |
S R Keedwell |
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Registered office |
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Auditors |
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R. T. Keedwell Holdings Limited
Strategic Report for the Year Ended 31 October 2021
The director presents his strategic report for the year ended 31 October 2021.
Principal activity
The principal activity of the company is an investment company. The principal activity of the group is road haulage and associated activities.
Fair review of the business
The company continues to receive returns on its investments in companies involved in the road haulage industry. Given the simplistic nature of the company the directors feel that the use of other KPIs is not necessary. The performance for the year and financial position at the year end are set out on pages 9 and 11 respectively.
The directors do not anticipate any significant change to the company’s operations and performance over the next 12 months.
Principal risks and uncertainties
The company is an intermediate holding company and so the most significant risk is the under-performance of its investments. The company’s subsidiary undertakings operate within the road haulage sector. The directors are directly involved in the operations of the company's subsidiaries, establishing strategies that they believe will ensure continued success. The key business risks and uncertainties affecting the company's investments are considered to relate to competition from both National and independent hauliers, fuel prices and the employment and retention of HGV drivers. These are monitored closely ensuring pricing remains appropriately competitive and that the group is attractive to employees in what is currently an employee market. Fuel price changes are passed on to customers where possible or absorbed.
The Covid-19 pandemic, an unforeseen risk, has impacted the company’s investments. In order to address the challenges presented by these unprecedented times the directors continually assessed the risks in detail, concluding that the company as part of the wider Keedwell group, remains well placed to weather the final stages of the storm. The costs and cash requirements are managed closely and the group seeks to ensure tight controls over the credit procedures and where applicable, government support was obtained.
Approved by the Board on
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R. T. Keedwell Holdings Limited
Director's Report for the Year Ended 31 October 2021
The director presents his report and the financial statements for the year ended 31 October 2021.
Directors of the company
The directors who held office during the year were as follows:
Financial instruments
Objectives and policies
The company’s principal financial instruments comprise bank balances, trade creditors, trade debtors, loans to the company and finance lease agreements. The main purpose of these instruments is to raise funds for the company’s operations and to finance the company’s operations.
Price risk, credit risk, liquidity risk and cash flow risk
Due to the nature of the financial instruments used by the company there is no exposure to price risk. The company’s approach to managing other risks applicable to the financial instruments concerned is shown below.
In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at floating rates of interest. The company makes use of money market facilities where funds are available.
In respect of loans these comprise loans from the directors and loans from financial institutions. The interest rate on the loans from financial institutions is variable but the monthly repayments are fixed. The company manages the liquidity risk by ensuring there are sufficient funds to meet the payments. The loans from the directors are interest free and payable on demand. The directors are aware of the company’s required finance and have determined that these will only be repaid in whole or in part when finance is available.
Future Developments
The future developments of the business are included within the strategic report.
Disclosure of information to the auditors
The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.
Reappointment of auditors
During the year Albert Goodman LLP resigned as auditors and Bishop Fleming LLP were appointed.
Approved by the Board on
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R. T. Keedwell Holdings Limited
Statement of Director's Responsibilities
The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
R. T. Keedwell Holdings Limited
Independent Auditor's Report to the Members of R. T. Keedwell Holdings Limited
Opinion
We have audited the financial statements of R T Keedwell Holdings Limited (the 'Company') for the year ended 31 October 2021, which comprise the Statement of Comprehensive Income, the Balance sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the Company's affairs as at 31 October 2021 and of its loss for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
R. T. Keedwell Holdings Limited
Independent Auditor's Report to the Members of R. T. Keedwell Holdings Limited
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements |
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors’ remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of the director
As explained more fully in the Directors' Responsibilities Statement set out on page 8, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the director is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.
R. T. Keedwell Holdings Limited
Independent Auditor's Report to the Members of R. T. Keedwell Holdings Limited
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non compliance with laws and regulations, we have considered the following:
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The nature of the industry and sector, control environment and business performance; |
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Results of our enquires of management and directors in relation to their own identification and assessment of the risks of irregularities within the Company; and |
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any matters we identified having obtained and reviewed the Company’s documentation of their policies and procedures relating to: identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non compliance; detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; the internal controls established to mitigate risks of fraud or noncompliance with laws and regulations. |
As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to revenue recognition. In common with all audits under ISAs (UK) we are required to perform specific procedures to respond to the risk of management override.
We have also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focussing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures within the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, Financial Reporting Standard 102 and UK tax legislation. In addition we considered provision of other laws and regulations that do not have a direct effect on the financial statements but compliance with may be fundamental for the Company’s ability to operate or avoid a material penalty. These included health and safety regulations; employment legislation; and data protection laws.
Our audit procedures performed to respond to the risks identified included, but were not limited to:
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Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
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Reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of revenue; |
R. T. Keedwell Holdings Limited
Independent Auditor's Report to the Members of R. T. Keedwell Holdings Limited
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Challenging assumptions and judgments made by management in their significant accounting estimates |
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Discussions with management, including consideration of known or suspected instances of non compliance with laws and regulation and fraud; |
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Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; and |
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Identifying and testing journal entries, evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud; |
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non compliance with laws and regulations throughout the audit.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
Use of our report
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
10 Temple Back
BS1 6FL
R. T. Keedwell Holdings Limited
Profit and Loss Account
for the Year Ended 31 October 2021
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Note |
2021 |
2020 |
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Turnover |
- |
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Administrative expenses |
( |
( |
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Operating (loss)/profit |
( |
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Other interest receivable and similar income |
- |
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(Loss)/profit before tax |
( |
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(Loss)/profit for the financial year |
( |
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The above results were derived from continuing operations.
R. T. Keedwell Holdings Limited
Statement of Comprehensive Income
for the Year Ended 31 October 2021
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2021 |
2020 |
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(Loss)/profit for the year |
( |
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Total comprehensive income for the year |
( |
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R. T. Keedwell Holdings Limited
(Registration number: 01700991)
Balance Sheet as at 31 October 2021
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Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
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Shareholders' funds |
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Approved and authorised by the
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R. T. Keedwell Holdings Limited
Statement of Changes in Equity
for the Year Ended 31 October 2021
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Ordinary share capital |
Share premium |
Profit and loss reserve |
Total |
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At 1 November 2020 |
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Movement in year : |
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Loss for the year |
- |
- |
( |
( |
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Total comprehensive income |
- |
- |
( |
( |
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At 31 October 2021 |
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Ordinary share capital |
Share premium |
Profit and loss reserve |
Total |
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At 1 November 2019 |
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Movement in year : |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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Dividends |
- |
- |
( |
( |
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New share capital subscribed |
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- |
- |
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Total movement for the year |
23 |
- |
542,846 |
542,869 |
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At 31 October 2020 |
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R. T. Keedwell Holdings Limited
Notes to the Financial Statements
for the Year Ended 31 October 2021
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
The principal place of business is:
Commerce Way
Highbridge
Somerset
TA9 4AG
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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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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.
These financial statements are presented in Sterling (£).
Summary of disclosure exemptions
The company has taken advantage of the following disclosure exemptions in prepating these financial statements, as permitted by the FRS 102 "Financial Reporting Standard applicable in the UK and Republic of Ireland
- the requirement of Section 7 Statement of Cash Flows: and
- the requirement of Section 3 Financial Statement Presentation paragraph 3.17(d)
- the requirement of Section 11 Basic Financial Instruments
- the requirement of Section 14 Investments in Associates paragraph 14.15A.
Turnover recognition
Turnover represents the receipts or amounts receivable for rental of company owned property net of value added tax. Income is recognised in the period to which it relates.
Investment income due from the company's subsidiaries and other investments is recognised when it is probable that the company will be entitled to the economic benefit of the income.
R. T. Keedwell Holdings Limited
Notes to the Financial Statements
for the Year Ended 31 October 2021
Tangible assets
Tangible assets are stated at cost, less accumulated depreciation and accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Freehold buildings |
2% straight line |
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Improvements to property |
15% reducing balance |
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
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.
Debtors
Other debtors and loans receivable are initially recognised at fair value net of transaction costs and are subsequently measured at amortised cost using the effective interest method less any provision for impairment.
Creditors
Short term trade creditors are measured at the transaction price, which is deemed to equate to amortised cost. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Reserves
Called up share capital represents the nominal value of shares that have been issued.
Share premium reserve includes any premiums received on the issue of share capital. Transaction costs associated with the issuing of shares are deducted from the share premium.
Profit and loss reserve includes all current and prior period profits and losses.
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.
R. T. Keedwell Holdings Limited
Notes to the Financial Statements
for the Year Ended 31 October 2021
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.
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Turnover |
The analysis of the company's turnover for the year from continuing operations is as follows:
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2021 |
2020 |
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Rental income |
- |
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Dividends received |
- |
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- |
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Other gains and losses |
The analysis of the company's other gains and losses for the year is as follows:
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2021 |
2020 |
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Gain (loss) from changes in provisions |
- |
( |
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Operating (loss)/profit |
Arrived at after charging/(crediting):
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2021 |
2020 |
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Depreciation expense |
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Other interest receivable and similar income |
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2021 |
2020 |
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Interest income on bank deposits |
- |
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Staff costs |
The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:
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2021 |
2020 |
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Administration and support |
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R. T. Keedwell Holdings Limited
Notes to the Financial Statements
for the Year Ended 31 October 2021
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Auditors' remuneration |
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2021 |
2020 |
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Audit of the financial statements |
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Other fees to auditors |
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Taxation compliance services |
- |
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All other non-audit services |
- |
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- |
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Tangible assets |
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Improvements to property |
Total |
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Cost or valuation |
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At 1 November 2020 |
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At 31 October 2021 |
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Depreciation |
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At 1 November 2020 |
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Charge for the year |
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At 31 October 2021 |
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Carrying amount |
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At 31 October 2021 |
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At 31 October 2020 |
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Included within the net book value of land and buildings above is £Nil (2020 - £Nil) in respect of freehold land and buildings.
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Investments |
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2021 |
2020 |
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Investments in subsidiaries |
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Investments in associates |
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R. T. Keedwell Holdings Limited
Notes to the Financial Statements
for the Year Ended 31 October 2021
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Subsidiaries |
£ |
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Cost or valuation |
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At 1 November 2020 |
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Provision |
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At 1 November 2020 |
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At 31 October 2021 |
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Carrying amount |
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At 31 October 2021 |
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At 31 October 2020 |
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Associates |
£ |
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Cost |
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At 1 November 2020 |
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Carrying amount |
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At 31 October 2021 |
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At 31 October 2020 |
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During the prior year the company acquired, via a share for share exchange, a further 25% holding in R. T. Keedwell Limited. Merger relief has been applied on recognition of this investment.
During the prior year the company disposed, via dividend in species, of its investments in Walrow Tyres Limited and Jay Logistics (South West) Limited.
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
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Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2021 |
2020 |
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Subsidiary undertakings |
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Goodwood House, Blackbrook Park Avenue, Taunton, Somerset, TA1 2PX |
Ordinary |
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England |
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R. T. Keedwell Holdings Limited
Notes to the Financial Statements
for the Year Ended 31 October 2021
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Goodwood House, Blackbrook Park Avenue, Taunton, Somerset, TA1 2PX |
Ordinary |
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England |
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Goodwood House, Blackbrook Park Avenue, Taunton, Somerset, TA1 2PX |
Ordinary |
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England |
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Goodwood House, Blackbrook Park Avenue, Taunton, Somerset, TA1 2PX |
Ordinary |
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England |
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Goodwood House, Blackbrook Park Avenue, Taunton, Somerset, TA1 2PX |
Ordinary |
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England |
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Goodwood House, Blackbrook Park Avenue, Taunton, Somerset, TA1 2PX |
Ordinary |
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Goodwood House, Blackbrook Park Avenue, Taunton, Somerset, TA1 2PX |
Ordinary |
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Goodwood House, Blackbrook Park Avenue, Taunton, Somerset, TA1 2PX |
Ordinary |
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R. T. Keedwell Holdings Limited
Notes to the Financial Statements
for the Year Ended 31 October 2021
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Associates |
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52 Clare Street, Bridgwater, Somerset, TA6 3EN |
Ordinary |
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England |
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Kings Weston Lane St Andrews Road, Avonmouth, Bristol, United Kingdom, BS11 9BY |
Ordinary |
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England |
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Subsidiary undertakings |
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Alberti Limited The principal activity of Alberti Limited is |
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Ken Jones Transport (Goldcliff) Limited The principal activity of Ken Jones Transport (Goldcliff) Limited is |
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K & W Brick Haulage Limited The principal activity of K & W Brick Haulage Limited is |
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R.T. Keedwell Limited The principal activity of R.T. Keedwell Limited is |
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R T Keedwell Group Limited The principal activity of R T Keedwell Group Limited is |
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Keedwell Konnect The principal activity of Keedwell Konnect is |
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Truck Tech Yorkshire Ltd The principal activity of Truck Tech Yorkshire Ltd is |
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Associates |
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Black-Ram Recycling Limited The principal activity of Black-Ram Recycling Limited is |
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City West Commercials (Highbridge) Limited The principal activity of City West Commercials (Highbridge) Limited is |
R. T. Keedwell Holdings Limited
Notes to the Financial Statements
for the Year Ended 31 October 2021
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Debtors |
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2021 |
2020 |
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Amounts owed by group undertakings |
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Amounts owed by associated undertakings |
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Other debtors |
- |
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Total current trade and other debtors |
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Cash and cash equivalents |
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2021 |
2020 |
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Cash at bank |
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Short-term deposits |
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Creditors |
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2021 |
2020 |
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Due within one year |
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Amounts owed to group undertakings |
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Amounts owed to associated undertakings |
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Accrued expenses |
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Share capital |
Allotted, called up and fully paid shares
|
2021 |
2020 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
122.94 |
|
122.94 |
R. T. Keedwell Holdings Limited
Notes to the Financial Statements
for the Year Ended 31 October 2021
|
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
|
2021 |
2020 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
|
|
|
|
|
Even though R T Keedwell Holdings bears the obligation for the future operating lease payments, currently the payments are made by other group companies, so no charge passes through the Profit or Loss account in R T Keedwell Holdings.
|
Contingent liabilities |
The company has provided an unlimited guarantee in favour of Barclays Bank PLC covering the liabilities of all companies within the R. T. Keedwell Holdings Limited group (excluding Walrow Tyre Services Limited, Truck Tech Yorkshire Limited, Junction 22 Trailers Limited and Keedwell Konnect Limited) and West Trucks (Highbridge) Limited. The amount guaranteed is £Nil (2020 - £Nil). The bank has secured this debt against the freehold property owned by the companies and an unlimited debenture over all assets of the company.
|
Related party transactions |
Summary of transactions with subsidiaries
The company maintains interest free loan accounts with its subsidiaries which are repayable on demand. At the balance sheet date the company is owed £952,200 (2020 - £952,200) from its subsidiaries.
Summary of transactions with all associates
R. T. Keedwell Holdings Limited
Notes to the Financial Statements
for the Year Ended 31 October 2021
|
Parent and ultimate parent undertaking |
The company's immediate parent is
The most senior parent entity producing publicly available financial statements is