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KMC CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






KMC CONSTRUCTION LIMITED (REGISTERED NUMBER: 07727778)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KMC CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M L Lloyd
C M Lloyd





REGISTERED OFFICE: Whitehall Garden Centre
Corsham Road
Lacock
Chippenham
Wiltshire
SN15 2LZ





REGISTERED NUMBER: 07727778 (England and Wales)





ACCOUNTANTS: Bowen Accountants Ltd
Chartered Accountants
Unit 1 Gate Farm
High Street
Sutton Benger
Chippenham
Wiltshire
SN15 4RE

KMC CONSTRUCTION LIMITED (REGISTERED NUMBER: 07727778)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 867 1,067
Tangible assets 5 26,422 39,838
27,289 40,905

CURRENT ASSETS
Stocks 10,000 25,000
Debtors 6 150,684 268,152
Prepayments and accrued income 22,879 67,169
Cash at bank 6 10
183,569 360,331
CREDITORS
Amounts falling due within one year 7 335,490 346,573
NET CURRENT (LIABILITIES)/ASSETS (151,921 ) 13,758
TOTAL ASSETS LESS CURRENT
LIABILITIES

(124,632

)

54,663

CREDITORS
Amounts falling due after more than one
year

8

(35,601

)

(44,201

)

PROVISIONS FOR LIABILITIES - (7,301 )

ACCRUALS AND DEFERRED INCOME (2,327 ) (2,440 )
NET (LIABILITIES)/ASSETS (162,560 ) 721

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings (162,860 ) 421
(162,560 ) 721

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.

KMC CONSTRUCTION LIMITED (REGISTERED NUMBER: 07727778)

BALANCE SHEET - continued
31 MARCH 2024


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 5 December 2024 and were signed on its behalf by:




M L Lloyd - Director



C M Lloyd - Director


KMC CONSTRUCTION LIMITED (REGISTERED NUMBER: 07727778)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

KMC Construction 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the going concern basis based on the Directors' assessment that the company will trade profitably for the foreseeable future.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Office equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.


KMC CONSTRUCTION LIMITED (REGISTERED NUMBER: 07727778)

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 2,000 15,000 17,000
AMORTISATION
At 1 April 2023 933 15,000 15,933
Charge for year 200 - 200
At 31 March 2024 1,133 15,000 16,133
NET BOOK VALUE
At 31 March 2024 867 - 867
At 31 March 2023 1,067 - 1,067

KMC CONSTRUCTION LIMITED (REGISTERED NUMBER: 07727778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and Office Motor Computer
machinery equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 20,904 3,100 84,206 3,127 111,337
Additions 501 - - 258 759
Disposals - - (5,529 ) - (5,529 )
At 31 March 2024 21,405 3,100 78,677 3,385 106,567
DEPRECIATION
At 1 April 2023 16,070 2,295 50,762 2,372 71,499
Charge for year 1,221 201 8,246 245 9,913
Eliminated on disposal - - (1,267 ) - (1,267 )
At 31 March 2024 17,291 2,496 57,741 2,617 80,145
NET BOOK VALUE
At 31 March 2024 4,114 604 20,936 768 26,422
At 31 March 2023 4,834 805 33,444 755 39,838

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 27,825
DEPRECIATION
At 1 April 2023 6,956
Charge for year 5,217
At 31 March 2024 12,173
NET BOOK VALUE
At 31 March 2024 15,652
At 31 March 2023 20,869

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,000 720
Amounts recoverable on contract 111,844 220,000
Other debtors 36,840 47,432
150,684 268,152

KMC CONSTRUCTION LIMITED (REGISTERED NUMBER: 07727778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 39,633 52,744
Hire purchase contracts 4,699 4,699
Trade creditors 163,002 120,049
Taxation and social security 127,949 157,530
Other creditors 207 11,551
335,490 346,573

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 29,669 33,834
Hire purchase contracts 5,932 10,367
35,601 44,201

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
M L Lloyd
Balance outstanding at start of year 18,152 5,277
Amounts advanced 40,424 12,875
Amounts repaid (50,739 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,837 18,152

C M Lloyd
Balance outstanding at start of year 14,722 4,810
Amounts advanced 40,730 9,912
Amounts repaid (50,671 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,781 14,722

Interest has been charged at the official rate where the overdrawn balance exceeds £10,000.