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REGISTERED NUMBER: 02966957 (England and Wales)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

M. & K. BUILDERS LIMITED

M. & K. BUILDERS LIMITED (REGISTERED NUMBER: 02966957)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

M. & K. BUILDERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: T Gaughan
J Gaughan
P J Gaughan





SECRETARY: Mrs A Gaughan





REGISTERED OFFICE: Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH





REGISTERED NUMBER: 02966957 (England and Wales)





ACCOUNTANTS: KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH

M. & K. BUILDERS LIMITED (REGISTERED NUMBER: 02966957)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 890,007 879,930

CURRENT ASSETS
Debtors 5 494,352 749,792
Cash at bank 950,853 914,872
1,445,205 1,664,664
CREDITORS
Amounts falling due within one year 6 372,455 441,970
NET CURRENT ASSETS 1,072,750 1,222,694
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,962,757

2,102,624

CREDITORS
Amounts falling due after more than one
year

7

341,532

367,300
NET ASSETS 1,621,225 1,735,324

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,621,125 1,735,224
SHAREHOLDERS' FUNDS 1,621,225 1,735,324

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

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





P J Gaughan - Director


M. & K. BUILDERS LIMITED (REGISTERED NUMBER: 02966957)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

M. & K. Builders 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue recognition
Turnover is derived from contracts to install concrete groundwork and is measured at the fair value of consideration receivable. If the ultimate profitability of a contract can be assessed with reasonable certainty after having made prudent allowance for future risks and uncertainties, then turnover is recognised in proportion to the contract work completed. Immediate provision is made for foreseeable losses. Income accrued but not invoiced at the year end is included within "Prepayments and accrued income " in debtors.

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 - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Land and buildings represent freehold land, which is not depreciated.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

M. & K. BUILDERS LIMITED (REGISTERED NUMBER: 02966957)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
COST
At 1 January 2023 744,119 172,182 42,684
Additions - - -
Disposals - - -
At 31 December 2023 744,119 172,182 42,684
DEPRECIATION
At 1 January 2023 - 88,699 38,723
Charge for year - 12,522 990
Eliminated on disposal - - -
At 31 December 2023 - 101,221 39,713
NET BOOK VALUE
At 31 December 2023 744,119 70,961 2,971
At 31 December 2022 744,119 83,483 3,961

Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 January 2023 121,591 566 1,081,142
Additions 48,375 1,396 49,771
Disposals (26,881 ) - (26,881 )
At 31 December 2023 143,085 1,962 1,104,032
DEPRECIATION
At 1 January 2023 73,772 18 201,212
Charge for year 14,222 200 27,934
Eliminated on disposal (15,121 ) - (15,121 )
At 31 December 2023 72,873 218 214,025
NET BOOK VALUE
At 31 December 2023 70,212 1,744 890,007
At 31 December 2022 47,819 548 879,930

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 449,778 293,721
Other debtors 1,595 -
Tax - 79,007
VAT 30,276 58,655
Prepayments and accrued income 12,703 318,409
494,352 749,792

M. & K. BUILDERS LIMITED (REGISTERED NUMBER: 02966957)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 22,153 17,753
Hire purchase contracts - 14,845
Trade creditors 245,631 376,494
Taxation and social security 23,575 14,493
Other creditors 81,096 18,385
372,455 441,970

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 341,532 367,300

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 244,486 274,251

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 363,685 385,053
Hire purchase contracts - 14,845
363,685 399,898

Bank loans are secured on the company's freehold property and hire purchase liabilities are secured on the associated plant and machinery.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
M. & K. BUILDERS LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of M. & K. Builders Limited for the year ended 31 December 2023 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of M. & K. Builders Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of M. & K. Builders Limited and state those matters that we have agreed to state to the Board of Directors of M. & K. Builders Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M. & K. Builders Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that M. & K. Builders Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of M. & K. Builders Limited. You consider that M. & K. Builders Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of M. & K. Builders Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH


23 September 2024