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REGISTERED NUMBER: 09142184 (England and Wales)














Strategic Report, Report of the Director and

Financial Statements for the Year Ended 31 March 2024

for

KBH Building Services Limited

KBH Building Services Limited (Registered number: 09142184)






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




Page

Company Information 1

Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 5

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


KBH Building Services Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr K Hollyomes





REGISTERED OFFICE: 110 Brooker Road
Waltham Abbey
Essex
EN9 1JH





REGISTERED NUMBER: 09142184 (England and Wales)





AUDITORS: Nordens Audit Limited
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

KBH Building Services Limited (Registered number: 09142184)

Strategic Report
for the Year Ended 31 March 2024

The director presents his strategic report for the year ended 31 March 2024.

REVIEW OF BUSINESS
The company achieved a 37% growth in turnover during the year to 31 March 2024 with an increase from £16.95m to £23.3m.This helped the company to also achieve an increase in the gross profit margin from 14% to 17%. The company has performed strongly in accordance with the key performance indicators that it monitors to review the progress of the business, as detailed further down in this report.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks faced by the company as a result of its activities and the management of those risks are detailed below:

Financial risk
The company is exposed to financial risk through its financial assets and liabilities. The key financial risk is that the proceeds from the financial assets are not sufficient to fund obligations as they fall due. In order to manage this, the Director has ensured that there are sufficient funds set aside to cover a prolonged period of overheads should there be no additional funds available for an extended period.

Liquidity risk
To maintain liquidity and ensure that sufficient funds are available for ongoing operations, the company has maintained sufficient cash balances.

Environment
The company recognises the importance of its environmental responsibilities and monitors its impact on the environment, and designs and implements policies to reduce any damage that might be caused by the company's activities. Initiatives are designed to minimise the impact on the environment and include improving energy use , and efficiency, paper use and recycling.

KEY PERFORMANCE INDICATORS
Key performance indicators for the company are the following:

2024 2023
£ £

Turnover 23,299,532 16,952,128
Gross Profit 4,017,203 2,385,411
Gross Margin 17% 14%

The company also recognises the significance of non-financial KPIs and the key ones are listed below:

Sustainability - Maintain and improve sustainability practices in all work undertaken.
Employee Wellbeing - Continuity of employee welfare provisions.

We are committed to improving our sustainability with all of the work that is undertaken. The company takes pride in its strong staff retention rate and this is indicative of our commitment to providing a supportive and fulfilling work environment. These non-financial indicators provide valuable insights into the company's ethos and contribute to the overall success alongside the financial measures.


KBH Building Services Limited (Registered number: 09142184)

Strategic Report
for the Year Ended 31 March 2024

FUTURE DEVELOPMENTS
Going forwards, the company is looking forward to having a continued period of growth and development. They are continuing to provide the services that they do to local authorities and housing associations and their continued excellent service is enabling them to increase the work that they are successfully bidding for to help further the growth and expansion of the company.

ON BEHALF OF THE BOARD:





Mr K Hollyomes - Director


25 November 2024

KBH Building Services Limited (Registered number: 09142184)

Report of the Director
for the Year Ended 31 March 2024

The director presents his report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of building and construction services.

DIVIDENDS
No interim dividend was paid during the year. The director recommends a final dividend of 3,250 per share.

The total distribution of dividends for the year ended 31 March 2024 will be £ 325,000 .

DIRECTOR
Mr K Hollyomes held office during the whole of the period from 1 April 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director 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:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the 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.

AUDITORS
The auditors, Nordens Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr K Hollyomes - Director


25 November 2024

Report of the Independent Auditors to the Members of
KBH Building Services Limited

Opinion
We have audited the financial statements of KBH Building Services Limited (the 'company') for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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 March 2024 and of its profit 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 UK, including the FRC'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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
KBH Building Services Limited


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 Report of the Director.

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 director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is 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 director determines 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 has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
KBH Building Services Limited


Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Discussions were held with the directors with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.
The following laws and regulations were identified as being of significance to the entity:

- Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, Tax and Pensions legislation, Health and Safety Standards, Building Regulations and distributable profits legislation.

- It is considered that non-compliance with the Health and Safety Standards and Building Regulations laws may be fundamental to the operating aspects of the business.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of written resolutions; testing the appropriateness of entries in the nominal ledger, including journal entries; reviewing transactions around the end of the reporting period; and the performance of analytical procedures to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

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 Report of the Auditors.

Report of the Independent Auditors to the Members of
KBH Building Services Limited


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 a Report of the Auditors 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.




Lorraine Curtis ACA BFP FCCA (Senior Statutory Auditor)
for and on behalf of Nordens Audit Limited
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

25 November 2024

KBH Building Services Limited (Registered number: 09142184)

Statement of Comprehensive Income
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   

TURNOVER 3 23,299,532 16,952,128

Cost of sales 19,282,329 14,566,717
GROSS PROFIT 4,017,203 2,385,411

Administrative expenses 1,158,531 589,198
2,858,672 1,796,213

Other operating income 500 2,000
OPERATING PROFIT 5 2,859,172 1,798,213

Interest receivable and similar income 58,910 4,102
2,918,082 1,802,315

Interest payable and similar expenses 6 - 8,100
PROFIT BEFORE TAXATION 2,918,082 1,794,215

Tax on profit 7 674,289 297,131
PROFIT FOR THE FINANCIAL YEAR 2,243,793 1,497,084

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

2,243,793

1,497,084

KBH Building Services Limited (Registered number: 09142184)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 419,778 348,567

CURRENT ASSETS
Debtors 10 4,386,851 3,709,841
Cash at bank 4,542,871 4,713,733
8,929,722 8,423,574
CREDITORS
Amounts falling due within one year 11 1,029,092 2,370,526
NET CURRENT ASSETS 7,900,630 6,053,048
TOTAL ASSETS LESS CURRENT LIABILITIES 8,320,408 6,401,615

CAPITAL AND RESERVES
Called up share capital 13 100 100
Retained earnings 14 8,320,308 6,401,515
SHAREHOLDERS' FUNDS 8,320,408 6,401,615

The financial statements were approved by the director and authorised for issue on 25 November 2024 and were signed by:





Mr K Hollyomes - Director


KBH Building Services Limited (Registered number: 09142184)

Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 100 5,239,431 5,239,531

Changes in equity
Dividends - (335,000 ) (335,000 )
Total comprehensive income - 1,497,084 1,497,084
Balance at 31 March 2023 100 6,401,515 6,401,615

Changes in equity
Dividends - (325,000 ) (325,000 )
Total comprehensive income - 2,243,793 2,243,793
Balance at 31 March 2024 100 8,320,308 8,320,408

KBH Building Services Limited (Registered number: 09142184)

Cash Flow Statement
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,451,896 2,850,621
Interest paid - (8,100 )
Tax paid (1,047,814 ) (504,631 )
Net cash from operating activities 404,082 2,337,890

Cash flows from investing activities
Purchase of tangible fixed assets (249,973 ) (227,676 )
Sale of tangible fixed assets 40,699 -
Interest received 58,910 4,102
Net cash from investing activities (150,364 ) (223,574 )

Cash flows from financing activities
Amount introduced by directors 1,028 1,706
Amounts loaned to associates (100,000 ) (1,050,000 )
Equity dividends paid (325,000 ) (335,000 )
Net cash from financing activities (423,972 ) (1,383,294 )

(Decrease)/increase in cash and cash equivalents (170,254 ) 731,022
Cash and cash equivalents at beginning of
year

2

4,713,125

3,982,103

Cash and cash equivalents at end of year 2 4,542,871 4,713,125

KBH Building Services Limited (Registered number: 09142184)

Notes to the Cash Flow Statement
for the Year Ended 31 March 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.3.24 31.3.23
£    £   
Profit before taxation 2,918,082 1,794,215
Depreciation charges 121,918 86,941
Loss on disposal of fixed assets 16,144 -
Finance costs - 8,100
Finance income (58,910 ) (4,102 )
2,997,234 1,885,154
(Increase)/decrease in trade and other debtors (547,310 ) 278,592
(Decrease)/increase in trade and other creditors (998,028 ) 686,875
Cash generated from operations 1,451,896 2,850,621

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 4,542,871 4,713,733
Bank overdrafts - (608 )
4,542,871 4,713,125
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 4,713,733 3,982,103
Bank overdrafts (608 ) -
4,713,125 3,982,103


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank 4,713,733 (170,862 ) 4,542,871
Bank overdrafts (608 ) 608 -
4,713,125 (170,254 ) 4,542,871
Total 4,713,125 (170,254 ) 4,542,871

KBH Building Services Limited (Registered number: 09142184)

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

1. STATUTORY INFORMATION

KBH Building Services 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.

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" 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.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Where the company undertakes larger works for the rendering of services, the income from these services are recognised when the following criteria can be met and satisfied:

a. the amount of revenue can be measured reliably;
b. it is probable that the economic benefits associated with the transaction will flow to the entity;
c. the stage of completion of the transaction at the end of the reporting period can be measured reliably; and d. the costs incurred for the transaction and the costs to complete the transaction can be measured reliably.

This is usually upon receipt of a client operational review date confirmation which agrees to the completion of the works undertaken and approval of the value of the job completed.

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

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

KBH Building Services Limited (Registered number: 09142184)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the assets and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial instruments

Financial assets are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the assets(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

KBH Building Services Limited (Registered number: 09142184)

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

2. ACCOUNTING POLICIES - continued

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Cash and cash equivalents
Cash and cash equivalents include cash held at bank and in hand, together with short-term highly liquid investments with an original maturity of less than three months that are readily convertible to known amounts of cash and subject to an insignificant change in value.

KBH Building Services Limited (Registered number: 09142184)

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

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

All turnover is derived from activities within the United Kingdom.

4. EMPLOYEES AND DIRECTORS
31.3.24 31.3.23
£    £   
Wages and salaries 394,931 223,586
Social security costs 34,191 13,365
Other pension costs 182,786 4,530
611,908 241,481

The average number of employees during the year was as follows:
31.3.24 31.3.23

Management 1 1
Administration 9 6
10 7

31.3.24 31.3.23
£    £   
Director's remuneration 12,570 12,570

5. OPERATING PROFIT

The operating profit is stated after charging:

31.3.24 31.3.23
£    £   
Depreciation - owned assets 121,919 86,940
Loss on disposal of fixed assets 16,144 -
Auditors' remuneration 8,500 8,500

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.3.24 31.3.23
£    £   
Interest payable - 8,100

KBH Building Services Limited (Registered number: 09142184)

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

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.3.24 31.3.23
£    £   
Current tax:
UK corporation tax 674,289 297,131
Tax on profit 674,289 297,131

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.3.24 31.3.23
£    £   
Profit before tax 2,918,082 1,794,215
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

729,521

340,901

Effects of:
Expenses not deductible for tax purposes 51,316 18,926
Capital allowances in excess of depreciation (60,537 ) (16,002 )
Adjustments to tax charge in respect of previous periods (46,011 ) (46,694 )
Total tax charge 674,289 297,131

8. DIVIDENDS
31.3.24 31.3.23
£    £   
Ordinary shares of £1 each
Final 325,000 335,000

KBH Building Services Limited (Registered number: 09142184)

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

9. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 - 208,520 327,911 536,431
Additions 9,550 58,451 181,972 249,973
Disposals - - (77,022 ) (77,022 )
At 31 March 2024 9,550 266,971 432,861 709,382
DEPRECIATION
At 1 April 2023 - 51,943 135,921 187,864
Charge for year 7,163 35,477 79,279 121,919
Eliminated on disposal - - (20,179 ) (20,179 )
At 31 March 2024 7,163 87,420 195,021 289,604
NET BOOK VALUE
At 31 March 2024 2,387 179,551 237,840 419,778
At 31 March 2023 - 156,577 191,990 348,567

10. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Trade debtors 1,100,980 763,631
Other debtors 25,211 -
Tax 29,700 -
Prepayments and accrued income 228,244 43,494
1,384,135 807,125

Amounts falling due after more than one year:
Amounts owed by participating interests 3,002,716 2,902,716

Aggregate amounts 4,386,851 3,709,841

KBH Building Services Limited (Registered number: 09142184)

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

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 12) - 608
Trade creditors 308,999 1,812,766
Tax - 343,825
Social security and other taxes 68,811 73,931
VAT 422,485 124,076
Other creditors 544 -
Directors' current accounts 2,847 1,820
Accruals and deferred income 225,406 13,500
1,029,092 2,370,526

12. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 608

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

14. RESERVES
Retained
earnings
£   

At 1 April 2023 6,401,515
Profit for the year 2,243,793
Dividends (325,000 )
At 31 March 2024 8,320,308

15. RELATED PARTY DISCLOSURES

Other related parties
31.3.24 31.3.23
£    £   
Amount due from related party 3,002,716 -

16. ULTIMATE CONTROLLING PARTY

The controlling party is Mr K Hollyomes.