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REGISTERED NUMBER: 04586279 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

KAM Construction Limited

KAM Construction Limited (Registered number: 04586279)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 10


KAM Construction Limited

Company Information
for the year ended 31 March 2023







DIRECTORS: Mr S P Blurton
Mr K A Moriarty
Mrs S Moriarty





SECRETARY: Mrs S Moriarty





REGISTERED OFFICE: Pacioli House
9 Brookfield, Duncan Close
Moulton Park
Northampton
Northamptonshire
NN3 6WL





REGISTERED NUMBER: 04586279 (England and Wales)





ACCOUNTANTS: Clifford Roberts
Chartered Accountants
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL

KAM Construction Limited (Registered number: 04586279)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 394,998 389,089
394,998 389,089

CURRENT ASSETS
Debtors 6 2,176,971 2,168,062
Cash at bank and in hand 680,938 522,311
2,857,909 2,690,373
CREDITORS
Amounts falling due within one year 7 994,458 890,435
NET CURRENT ASSETS 1,863,451 1,799,938
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,258,449

2,189,027

CREDITORS
Amounts falling due after more than one
year

8

(182,037

)

(200,555

)

PROVISIONS FOR LIABILITIES (47,382 ) (31,679 )
NET ASSETS 2,029,030 1,956,793

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 2,028,930 1,956,693
SHAREHOLDERS' FUNDS 2,029,030 1,956,793

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

KAM Construction Limited (Registered number: 04586279)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:




Mr K A Moriarty - Director



Mr S P Blurton - Director


KAM Construction Limited (Registered number: 04586279)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

KAM Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's principal place of business at Unit 4 Moor Knoll House, Weedon Road Industrial Estate, Northampton, NN5 5AX

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 - "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis modified to include the deemed cost of freehold property.

The financial statements are presented in Sterling (£) and cover the period to the 31st March each year.

Significant judgements and estimates
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.

No key sources of estimation uncertainty have been identified that have a significant effect on the amounts recognised in the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, value added tax and other sales taxes. Turnover includes revenue earned from the rendering of services.

Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Work-In-Progress
Work in progress follows the same policy as set out above, with the income recognised by reference to stage of completion of the contact as reliably measured. Work in progress is shown as sales and amount recoverable on contracts within the financial statements.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

KAM Construction Limited (Registered number: 04586279)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life as follows;


Freehold Property -over 50 years straight line
Plant and machinery -over 4 years straight line
Fixtures, fittings and equipment -over 4 & 5 years straight line
Motor vehicles -over 4 years straight line


Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to profit and loss over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight line basis over the lease term.

KAM Construction Limited (Registered number: 04586279)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Interest bearing borrowings
Interest bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and redemption value being recognised in the statement of comprehensive income over the period of the borrowings, together with any interest and fees payable, using the effective interest method.

Provisions for liabilities
Provisions are recognised when the group has a present legal or constructive obligation as a result of a past event, it is probable that the group will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking in to account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost int he profit or loss in the period it arises.

The company recognises a provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 34 ) .

KAM Construction Limited (Registered number: 04586279)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 40,000
AMORTISATION
At 1 April 2022
and 31 March 2023 40,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 205,286 594,750 35,706 523,623 1,359,365
Additions - 32,831 4,715 74,090 111,636
Disposals - - - (55,647 ) (55,647 )
At 31 March 2023 205,286 627,581 40,421 542,066 1,415,354
DEPRECIATION
At 1 April 2022 26,687 515,503 30,938 397,148 970,276
Charge for year 4,106 34,473 3,134 63,766 105,479
Eliminated on disposal - - - (55,399 ) (55,399 )
At 31 March 2023 30,793 549,976 34,072 405,515 1,020,356
NET BOOK VALUE
At 31 March 2023 174,493 77,605 6,349 136,551 394,998
At 31 March 2022 178,599 79,247 4,768 126,475 389,089

KAM Construction Limited (Registered number: 04586279)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 16,149 63,843 79,992
Additions - 53,790 53,790
Transfer to ownership (16,149 ) (50,172 ) (66,321 )
At 31 March 2023 - 67,461 67,461
DEPRECIATION
At 1 April 2022 11,777 16,735 28,512
Charge for year 4,037 21,564 25,601
Transfer to ownership (15,814 ) (25,859 ) (41,673 )
At 31 March 2023 - 12,440 12,440
NET BOOK VALUE
At 31 March 2023 - 55,021 55,021
At 31 March 2022 4,372 47,108 51,480

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,349,873 1,272,802
Amounts recoverable on contract 260,255 321,863
Other debtors 566,843 573,397
2,176,971 2,168,062

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts (see note 9) 22,022 33,234
Trade creditors 506,304 460,305
Taxation and social security 184,787 280,313
Other creditors 231,345 66,583
994,458 890,435

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 150,000 200,000
Hire purchase contracts (see note 9) 32,037 555
182,037 200,555

KAM Construction Limited (Registered number: 04586279)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 22,022 33,234
Between one and five years 32,037 555
54,059 33,789

Non-cancellable operating leases
2023 2022
£    £   
Within one year - 1,586

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 200,000 250,000
Hire purchase contracts 54,059 33,789
254,059 283,789

At the year end the company held one charge containing negative pledges with fixed and floating charges over all property or undertaking of the company in favour of Lloyds Bank Plc. Two further charges were satisfied in the prior year which were in favour of Lloyds Bank Plc and Lloyds Bank Commercial Finance Limited.

KAM Construction Limited (Registered number: 04586279)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

11. FINANCIAL RISK MANAGEMENT

Exposure to credit, liquidity, market and interest rate risk arises in the normal course of business, These risks are limited by the company's financial management policies and practices described below.

Credit risk
The company has large exposure to credit risk, and the company tries to manage this as far as possible through use of a factoring finance facility and through communication with its customers.

Liquidity risk
The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves and banking facilities. The only significant non-derivative financial liabilities remaining at the reporting date are the overdraft on the bank account and bank loans secured on the freehold property, which are all used in combination to manage any liquidity risk which exists.

Market risk
There is a market risk associated with the fluctuation in demand for the products provided. Most of this is mitigated by monitoring the markets and competition.

Interest rate risk
The company has minor exposure to interest rate risk through the impact of rate changes in interest bearing borrowings. Active management of the company's exposure to interest rate fluctuations is undertaken.

The company holds no derivative financial instruments at the year end.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
25 Ordinary A £1 25 25
50 Ordinary B £1 50 50
25 Ordinary C £1 25 25
100 100

13. RELATED PARTY DISCLOSURES

At the start of the year there was outstanding balances of £534,867 owed to the company by persons with significant control, this balance was repaid in full by 6th April, 2022. Further advances of £593,938 and repayments of £621,903 were made during the year. As at 31st March 2022 a total of £506,902 is owed to the company by persons with significant control, this balance was repaid in full by 6th April, 2023. The advances were interest free and were unsecured.