Company registration number 13993863 (England and Wales)
K M CONSTRUCTION AND MAINTENANCE LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
K M CONSTRUCTION AND MAINTENANCE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
K M CONSTRUCTION AND MAINTENANCE LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
49,847
50,000
Cash at bank and in hand
2,268
1,325
52,115
51,325
Creditors: amounts falling due within one year
4
(27,847)
(37,626)
Net current assets
24,268
13,699
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
24,168
13,599
Total equity
24,268
13,699

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 31 March 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 13993863 (England and Wales)
K M CONSTRUCTION AND MAINTENANCE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

K M Construction and Maintenance Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Merlin House, Langstone Business Park, Priory Drive, Langstone, 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
Turnover

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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
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.

1.4
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.

K M CONSTRUCTION AND MAINTENANCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Retirement benefits

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

2
Employees

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

2024
2023
Number
Number
Total
3
3
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
49,847
50,000
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
156
156
Amounts owed to group undertakings
21,105
10,795
Other creditors
6,586
26,675
27,847
37,626
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
75
75
75
75
Ordinary B shares of £1 each
25
25
25
25
100
100
100
100
6
Directors' transactions

Dividends totalling £41,000 (2023 - £33,500) 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 the directors was £4,135 (2023 - £22,475); this amount being included in creditors: amounts falling due within one year.

K M CONSTRUCTION AND MAINTENANCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
7
Related party transactions

During the year, the company loaned money from K M Holdings Group Limited. At the year end the amount owed to K M Holdings Group Limited was £21,105 (2023 - £10,795); this amount is included in creditors: amounts falling due within one year. Both entities are under the control of K M Holdings Group Limited.

 

During the year, the company loaned money to K M Plant Hire & Groundworks Limited. At the year end the amount owed from K M Plant Hire & Groundworks Limited was £49,847 (2023 - £50,000); this amount is included in debtors: amounts falling due within one year. Both entities are under the control of K M Holdings Group Limited.

8
Parent company

The parent company of K M Construction and Maintenance Limited is K M Holdings Group Limited, by virtue of its 75% shareholding in the company.

 

The registered office of K M Holdings Group Limited is Merlin House Langstone Business Park, Priory Drive, Langstone, Newport, Wales, NP18 2HJ.

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