IRIS Accounts Production v24.2.0.383 04704043 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh047040432023-03-31047040432024-03-31047040432023-04-012024-03-31047040432022-03-31047040432022-04-012023-03-31047040432023-03-3104704043ns15:EnglandWales2023-04-012024-03-3104704043ns14:PoundSterling2023-04-012024-03-3104704043ns10:Director12023-04-012024-03-3104704043ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104704043ns10:SmallEntities2023-04-012024-03-3104704043ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3104704043ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3104704043ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104704043ns10:FullAccounts2023-04-012024-03-3104704043ns10:OrdinaryShareClass12023-04-012024-03-3104704043ns10:Director22023-04-012024-03-3104704043ns10:Director32023-04-012024-03-3104704043ns10:Director42023-04-012024-03-3104704043ns10:Director52023-04-012024-03-3104704043ns10:Director62023-04-012024-03-3104704043ns10:Director72023-04-012024-03-3104704043ns10:CompanySecretary12023-04-012024-03-3104704043ns10:CompanySecretary22023-04-012024-03-3104704043ns10:RegisteredOffice2023-04-012024-03-3104704043ns5:CurrentFinancialInstruments2024-03-3104704043ns5:CurrentFinancialInstruments2023-03-3104704043ns5:Non-currentFinancialInstruments2024-03-3104704043ns5:Non-currentFinancialInstruments2023-03-3104704043ns5:ShareCapital2024-03-3104704043ns5:ShareCapital2023-03-3104704043ns5:CapitalRedemptionReserve2024-03-3104704043ns5:CapitalRedemptionReserve2023-03-3104704043ns5:RetainedEarningsAccumulatedLosses2024-03-3104704043ns5:RetainedEarningsAccumulatedLosses2023-03-3104704043ns5:PlantMachinery2023-04-012024-03-3104704043ns5:PlantMachinery2023-03-3104704043ns5:PlantMachinery2024-03-3104704043ns5:PlantMachinery2023-03-3104704043ns5:CostValuation2023-03-3104704043ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3104704043ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3104704043ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-03-3104704043ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-3104704043ns5:Non-currentFinancialInstruments2023-04-012024-03-3104704043ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 04704043 (England and Wales)














MARTIN KING CONSTRUCTION LTD

Unaudited Financial Statements

for the Year Ended 31 March 2024






MARTIN KING CONSTRUCTION LTD (REGISTERED NUMBER: 04704043)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


MARTIN KING CONSTRUCTION LTD

Company Information
for the Year Ended 31 March 2024







Directors: Mrs J E Hunt
Mr J S B Hunt
Mrs A E Loach
Ms T M Hunt
Mrs C V Doe
Mr D A Loach
Mr R Doe





Secretaries: Mrs A E Loach
Ms T M Hunt
Mrs C V Doe





Registered office: Artisans House
7 Queensbridge
Northampton
Northamptonshire
NN4 7BF





Registered number: 04704043 (England and Wales)





Accountants: Cobley Desborough
Chartered Certified Accountants
Chartered Tax Advisers
Artisans' House
7 Queensbridge
Northampton
Northamptonshire
NN4 7BF

MARTIN KING CONSTRUCTION LTD (REGISTERED NUMBER: 04704043)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,294 7,566
Investments 5 75 75
24,369 7,641

CURRENT ASSETS
Stocks 3,554,828 3,022,828
Debtors 6 3,564,631 3,674,141
Cash at bank 113,821 266,601
7,233,280 6,963,570
CREDITORS
Amounts falling due within one year 7 288,942 55,089
NET CURRENT ASSETS 6,944,338 6,908,481
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,968,707

6,916,122

CREDITORS
Amounts falling due after more than
one year

8

3,500,000

3,500,000
NET ASSETS 3,468,707 3,416,122

MARTIN KING CONSTRUCTION LTD (REGISTERED NUMBER: 04704043)

Balance Sheet - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 3,050,075 3,050,075
Capital redemption reserve 50 50
Retained earnings 418,582 365,997
SHAREHOLDERS' FUNDS 3,468,707 3,416,122

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 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 15 August 2024 and were signed on its behalf by:





Mr J S B Hunt - Director


MARTIN KING CONSTRUCTION LTD (REGISTERED NUMBER: 04704043)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Martin King Construction Ltd 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


MARTIN KING CONSTRUCTION LTD (REGISTERED NUMBER: 04704043)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.Any losses arising from impairment are recognised in the profit and loss account.

Going concern
The current economic conditions present increased risks for all businesses. In response to such conditions, the director has carefully considered these risks, including an assessment of uncertainty on future trading projections for a period of at least twelve months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the director considers that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations of external liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the director considers that the Company is not exposed to losses of these assets which would affect their decision to adopt the going concern basis.

The director is therefore satisfied and has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the Company's ability to continue as a going concern. Theses financial statements have therefore been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

MARTIN KING CONSTRUCTION LTD (REGISTERED NUMBER: 04704043)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1 April 2023 73,057
Additions 29,999
Disposals (65,797 )
At 31 March 2024 37,259
Depreciation
At 1 April 2023 65,491
Charge for year 7,317
Eliminated on disposal (59,843 )
At 31 March 2024 12,965
Net book value
At 31 March 2024 24,294
At 31 March 2023 7,566

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
Cost
At 1 April 2023
and 31 March 2024 75
Net book value
At 31 March 2024 75
At 31 March 2023 75

MARTIN KING CONSTRUCTION LTD (REGISTERED NUMBER: 04704043)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 17,797 104,900
Amounts owed by group undertakings 2,017,020 2,016,461
Loans and advances to customers 34,769 50,546
Other debtors 2,442 11,055
2,072,028 2,182,962

Amounts falling due after more than one year:
Loans and advances to customers 1,492,603 1,491,179

Aggregate amounts 3,564,631 3,674,141

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 98,548 24,810
Taxation and social security 18,119 6,934
Other creditors 172,275 23,345
288,942 55,089

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 3,500,000 3,500,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Unsecured loan stock 3,500,000 3,500,000

The £3,500,00 10% Unsecured Loan Stock 2036 is repayable by a single instalment on 31 December 2036. Under the terms of the loan stock instrument every stockholder shall be entitled to attend general meetings of the the company and exercise one vote for every complete £100,000 of stock registered in his or her name. All loan stock is held jointly by the directors Mrs J E Hunt and Mr J S B Hunt.

MARTIN KING CONSTRUCTION LTD (REGISTERED NUMBER: 04704043)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3,050,075 Ordinary £1 3,050,075 3,050,075