Company registration number 12673031 (England and Wales)
K M HOLDINGS GROUP LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
K M HOLDINGS GROUP LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
K M HOLDINGS GROUP LIMITED
BALANCE SHEET
AS AT
5 APRIL 2024
05 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
471,406
287,680
Investments
4
252
252
471,658
287,932
Current assets
Debtors
6
118,438
40,438
Cash at bank and in hand
168,969
310,140
287,407
350,578
Creditors: amounts falling due within one year
7
(257,784)
(482,493)
Net current assets/(liabilities)
29,623
(131,915)
Total assets less current liabilities
501,281
156,017
Provisions for liabilities
(48,983)
(10,106)
Net assets
452,298
145,911
Capital and reserves
Called up share capital
8
204
204
Revaluation reserve
143,062
-
0
Profit and loss reserves
309,032
145,707
Total equity
452,298
145,911

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 3 December 2024 and are signed on its behalf by:
Mr K L Lynch
Director
Company registration number 12673031 (England and Wales)
K M HOLDINGS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
- 2 -
1
Accounting policies
Company information

K M Holdings Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Merlin House, Langstone Business Park, Priory Drive, Newport, NP18 2HJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated
Plant and equipment
20% Reducing balance
Fixtures and fittings
20% Reducing balance
1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

K M HOLDINGS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 asset and settle the liability simultaneously.

 

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 in other administrative expenses.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense,

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

K M HOLDINGS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
13
13
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 6 April 2023
287,680
-
0
-
0
287,680
Additions
47,871
17,799
7,989
73,659
Revaluation
114,450
-
0
-
0
114,450
At 5 April 2024
450,001
17,799
7,989
475,789
Depreciation and impairment
At 6 April 2023
-
0
-
0
-
0
-
0
Depreciation charged in the year
-
0
3,028
1,355
4,383
At 5 April 2024
-
0
3,028
1,355
4,383
Carrying amount
At 5 April 2024
450,001
14,771
6,634
471,406
At 5 April 2023
287,680
-
0
-
0
287,680
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
252
252
5
Subsidiaries

Details of the company's subsidiaries at 5 April 2024 are as follows:

K M HOLDINGS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
5
Subsidiaries
(Continued)
- 5 -
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
K M Plant Limited
Merlin House Langstone Business Park, Priory Drive, Langstone, Newport, Wales, NP18 2HJ
Ordinary
100.00
K M Plant Hire & Groundworks Limited
Merlin House Langstone Business Park, Priory Drive, Langstone, Newport, Wales, NP18 2HJ
Ordinary
100.00
K M Construction and Maintenance Limited
Merlin House Langstone Business Park, Priory Drive, Langstone, Newport, Wales, NP18 2HJ
Ordinary A shares
75.00
The Victoria (Abergavenny) Ltd
Merlin House Langstone Business Park, Priory Drive, Langstone, Newport, Wales, NP18 2HJ
Ordinary A shares
75.00
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
29,643
Amounts owed by group undertakings
118,438
10,795
118,438
40,438
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,548
13,279
Taxation and social security
43,655
34,774
Other creditors
209,581
434,440
257,784
482,493
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
204
204
204
204
K M HOLDINGS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 6 -
9
Directors' transactions

Dividends totalling £82,000 (2023 - £67,200) were paid in the year in respect of shares held by the company's directors.

The directors operate current loan accounts with the company, which are debited with payments made by the company on behalf of the directors and credited with funds introduced and undrawn director's fees. At the year end the amount outstanding to one of the directors was £92,965 (2023 - £104,567); this amount being included in creditors: amounts falling due within one year.

 

10
Related party transactions

During the year, the company loaned money from K M Plant Limited. At the year end, the amount owed to K M Plant Limited was £66,078 (2023 - £45,100); this amount is included in creditors: amounts falling due within one year. K M Plant Limited is under the control of K M Holdings Group Limited

 

During the year, the company loaned money from K M Plant & Groundworks Limited. At the year end, the amount owed to K M Plant & Groundworks Limited was £23,061 (2023 - £283,083); this amount is included in creditors: amounts falling due within one year. K M Plant & Groundworks Limited is under the control of K M Holdings Group Limited

 

During the year, the company loaned money to The Victoria (Abergavenny) Ltd. At the year end, the amount owed from The Victoria (Abergavenny) Ltd was £97,333 (2023 - creditor of £75); this amount is included in debtors: amounts falling due within one year. The Victoria (Abergavenny) Ltd is under the control of K M Holdings Group Limited

 

During the year, the company loaned money to K M Construction and Maintenance Ltd. At the year end, the amount owed to K M Plant Holdings Limited was £21,105 (2023 - £10,795); this amount is included in debtors: amounts falling due within one year. K M Construction and Maintenance Ltd is under the control of K M Holdings Group Limited

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