Keybay Limited - Abbreviated accounts 16.3

Keybay Limited - Abbreviated accounts 16.3

KEYBAY LIMITED - Company Information

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REGISTERED NUMBER: 09797232 (England and Wales)









Abbreviated Unaudited Accounts

for the Period

28 September 2015 to 30 September 2016

for

Keybay Limited

Keybay Limited (Registered number: 09797232)






Contents of the Abbreviated Accounts
for the Period 28 September 2015 to 30 September 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

Keybay Limited

Company Information
for the Period 28 September 2015 to 30 September 2016







DIRECTORS: E Farkash
O Bar
D S Katz





REGISTERED OFFICE: Unit 2 Sayer House
Oxgate Lane
London
NW2 7JN





REGISTERED NUMBER: 09797232 (England and Wales)





ACCOUNTANTS: CAAS
Chartered Accountants
Suite 203, 2nd Floor
China House
401 Edgware Road
London
NW2 6GY
Page 1
Keybay Limited (Registered number: 09797232)

Abbreviated Balance Sheet
30 September 2016

Notes £    £   
FIXED ASSETS
Investment property 2 1,611,679

CURRENT ASSETS
Debtors 62,695
Cash at bank 10,638
73,333
CREDITORS
Amounts falling due within one year 3 1,157,198
NET CURRENT LIABILITIES (1,083,865 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
527,814

CREDITORS
Amounts falling due after more than one
year
3
536,400
NET LIABILITIES (8,586 )

CAPITAL AND RESERVES
Called up share capital 4 100
Profit and loss account (8,686 )
SHAREHOLDERS' FUNDS (8,586 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 14 March 2017 and were signed on its behalf by:




E Farkash - Director


The notes form part of these abbreviated accounts

Page 2
Keybay Limited (Registered number: 09797232)

Notes to the Abbreviated Accounts
for the Period 28 September 2015 to 30 September 2016

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective January 2015).

Going concern
Going concern at 30th September 2016, the balance sheet showed a deficit of £8,586 and net current liabilities
of £1,157,198.The director has given an undertaking to financially support the company for at least 12 months
from the date of signature on the balance sheet. On this basis, the director considers it appropriate to prepare the
financial statements on the going concern basis

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes
in market value is transferred to a revaluation reserve.

In accordance with the Financial Reporting Standard for Small Entities (effective January 2015) ('FRSSE')
investment properties are revalued annually and the aggregate surplus or deficit is transferred to revaluation
reserve. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However this requirement conflicts with the
generally accepted accounting principle set out in the FRSSE. The director considers that because the property is
not held for consumption but for its investment potential, to depreciate it would not give true and fair view, and
that is necessary to adopt the FRSSE in order to give true and fair view. Depreciation is only one of the many
factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be
separately identified or quantified.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

2. INVESTMENT PROPERTY
Total
£   
COST
Additions 1,611,679
At 30 September 2016 1,611,679
NET BOOK VALUE
At 30 September 2016 1,611,679

3. CREDITORS

Creditors include an amount of £ 1,155,198 for which security has been given.

4. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal
value: £   
100 Share capital 1 £1 100

5. ULTIMATE CONTROLLING PARTY

The controlling party is D S Katz.

Page 3