Company registration number 08638566 (England and Wales)
KAM PROJECT CONSULTANTS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
KAM PROJECT CONSULTANTS LIMITED
COMPANY INFORMATION
Directors
Mr K Sims
Mr M Wilcock
Mr S Price
Mr D French
Mr M Jenkins
Mr M O'Neill
Mr D Vaughan
Mr M Shea
Company number
08638566
Registered office
First Floor Baird House
Seebeck Place
Knowlhill
Milton Keynes
MK5 8FR
Auditor
DSA Prospect Audit Limited
First Floor
1 Des Roches Square
Witan Way
Witney
OX28 4BE
KAM PROJECT CONSULTANTS LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Profit and loss account
8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Notes to the financial statements
12 - 23
KAM PROJECT CONSULTANTS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

The directors present the strategic report for the year ended 30 September 2024.

Fair review of the business

The company’s core sector focus is predominantly on the UK’s industrial and logistics markets with a continuing emphasis on diversification into other sectors such as food & process, research & development and corporate real estate.

 

The financial period has closed satisfactorily in light of the prevailing and somewhat challenging economic conditions generally and specific market conditions affecting the construction sector.

 

Principal risks and uncertainties

The principal risk faced by the business is as a consequence of the UK’s general economic situation which is reflected mostly in terms of delayed projects, driven mainly as a consequence of developers and owners cautiously monitoring the indicators of economic recovery in anticipation of identifying the optimum time to progress projects further.

 

Inflation has eased during the period which, combined with an expectation of continued interest rate reductions, may assist an increasing number of projects to progress.

 

An increase in the number of completed land sale transactions is apparent, albeit the full benefits of this improvement is likely to be realised during the next period. There continues to be a high volume of projects at feasibility stage which bolsters confidence.

 

It is anticipated that payment terms will continue to be exploited to their fullest

 

Key performance indicators

The key performance indicators below reflect KAM Project Consultant Limited’s performance for the period.

2024
2023
Change
£'000
£'000
%
Turnover
9,783
11,218
13%
Operating profit
2,268
2,664
10%
Profit for the financial year
1,635
2,053
20%
Total equity
8,584
7,504
14%
Current assets as % of current liabilities
731%
625%
107%
Return on assets %
16%
23%
7%
Average number of employees in the year
73
83
(10)
Development and performance

The company is arguably the United Kingdom’s most experienced cost management and project management company engaged within the industrial and logistics sector, continually seeking to innovate and increasingly diversifying into other sectors and specialisms.

 

The business continues to be well positioned to capture clients’ current and future needs through expertise, approach and customer care, delivered via continued investment in training and innovation to ensure that existing clients return and that new client relationships are formed.

 

KAM PROJECT CONSULTANTS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
Credit risk

Credit risk arises when a failure by counter parties to discharge their obligations could reduce the amount of future cash inflows from financial assets on hand at the reporting date. Significant client’s are those that represent more than 10% of the company's total revenue or gross accounts receivable balance. As at 30 September 2024, the company has no credit risks from client’s in this category.

 

The company’s cash is held with reputable and regulated institutions and is not invested in any financial instruments carrying credit risk.

 

 

Liquidity risk

Liquidity risk is the risk that arises when the maturity of assets and liabilities does not match. An unmatched position potentially enhances profitability but can also increase the risk of losses. The company have procedures with the objective of minimizing such losses, such as, appropriate management of working capital and close monitoring of forecasted cash flows, with the aim of maintaining adequate cash to service the company’s current needs.

 

Outlook

Looking ahead, the company continue to be well positioned to capture clients’ current and future needs through expertise, approach and customer care, delivered via continued investment in training and innovation to ensure that our existing clients return and that new client relationships are formed.

 

On behalf of the board

Mr M O'Neill
Director
29 January 2025
KAM PROJECT CONSULTANTS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -

The directors present their annual report and financial statements for the year ended 30 September 2024.

Principal activities

The principal activity of the company continued to be that of quantity surveying services.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £555,000. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr K Sims
Mr M Wilcock
Mr S Price
Mr D French
Mr M Jenkins
Mr S Ledingham
(Resigned 24 October 2024)
Mr M O'Neill
Mr D Vaughan
Mr L Alden
(Resigned 15 May 2024)
Mr M Shea
Post reporting date events

There are no events after the year end that the directors believe need to be reported.

Future developments

There are no future developments that the directors believe need to be reported.

Auditor

In accordance with the company's articles, a resolution proposing that DSA Prospect Audit Limited be reappointed as auditor of the company will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr M O'Neill
Director
29 January 2025
KAM PROJECT CONSULTANTS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are 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 directors are required to:

 

 

The directors are 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 them to ensure that the financial statements comply with the Companies Act 2006. They are 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.

KAM PROJECT CONSULTANTS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF KAM PROJECT CONSULTANTS LIMITED
- 5 -
Opinion

We have audited the financial statements of KAM Project Consultants Limited (the 'company') for the year ended 30 September 2024 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including 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:

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 Auditor's 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 directors' 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 directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

KAM PROJECT CONSULTANTS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF KAM PROJECT CONSULTANTS LIMITED (CONTINUED)
- 6 -
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 directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are 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 directors determine is 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 an auditor's report 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.

 

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

KAM PROJECT CONSULTANTS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF KAM PROJECT CONSULTANTS LIMITED (CONTINUED)
- 7 -

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

 

To address the risk of fraud through management bias and override of controls, we:

 

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

 

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Mr Alec Charles Pridsam FCCA
Senior Statutory Auditor
For and on behalf of DSA Prospect Audit Limited
5 February 2025
Chartered Certified Accountants
Statutory Auditor
First Floor
1 Des Roches Square
Witan Way
Witney
OX28 4BE
KAM PROJECT CONSULTANTS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
2024
2023
Notes
£
£
Turnover
3
9,782,689
11,217,585
Cost of sales
(3,851,955)
(4,418,807)
Gross profit
5,930,734
6,798,778
Administrative expenses
(3,932,927)
(4,134,469)
Other operating income
135,227
-
0
Operating profit
4
2,133,034
2,664,309
Interest receivable and similar income
8
5,449
3,400
Interest payable and similar expenses
9
(15,333)
(8,134)
Profit before taxation
2,123,150
2,659,575
Tax on profit
10
(488,386)
(606,861)
Profit for the financial year
1,634,764
2,052,714

The profit and loss account has been prepared on the basis that all operations are continuing operations.

KAM PROJECT CONSULTANTS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 9 -
2024
2023
£
£
Profit for the year
1,634,764
2,052,714
Other comprehensive income
-
-
Total comprehensive income for the year
1,634,764
2,052,714
KAM PROJECT CONSULTANTS LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 10 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
67,880
113,515
Current assets
Stocks
13
310,780
310,248
Debtors
14
8,409,966
7,555,570
Cash at bank and in hand
1,163,205
966,511
9,883,951
8,832,329
Creditors: amounts falling due within one year
15
(1,351,349)
(1,413,717)
Net current assets
8,532,602
7,418,612
Total assets less current liabilities
8,600,482
7,532,127
Provisions for liabilities
Deferred tax liability
16
16,969
28,378
(16,969)
(28,378)
Net assets
8,583,513
7,503,749
Capital and reserves
Called up share capital
18
100
100
Profit and loss reserves
19
8,583,413
7,503,649
Total equity
8,583,513
7,503,749

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 29 January 2025 and are signed on its behalf by:
Mr M O'Neill
Director
Company registration number 08638566 (England and Wales)
KAM PROJECT CONSULTANTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 11 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 October 2022
100
6,035,935
6,036,035
Year ended 30 September 2023:
Profit and total comprehensive income
-
2,052,714
2,052,714
Dividends
11
-
(585,000)
(585,000)
Balance at 30 September 2023
100
7,503,649
7,503,749
Year ended 30 September 2024:
Profit and total comprehensive income
-
1,634,764
1,634,764
Dividends
11
-
(555,000)
(555,000)
Balance at 30 September 2024
100
8,583,413
8,583,513
KAM PROJECT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 12 -
1
Accounting policies
Company information

KAM Project Consultants Limited is a private company limited by shares incorporated in England and Wales. The registered office is First Floor Baird House, Seebeck Place, Knowlhill, Milton Keynes, MK5 8FR.

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.

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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of KAM Group Holdings 2020 Limited. These consolidated financial statements are available from its registered office, First Floor Baird House Seebeck Place, Knowlhill, Milton Keynes, MK5 8FR.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
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.

KAM PROJECT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 13 -

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.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, 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:

Fixtures and fittings
20% straight line basis
Computers
33% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

Work in progress comprises non-partner professional time costs, excluding any mark-up, plus disbursements, to the extent that no right to consideration exists at the balance sheet date. Work in progress is valued at the lower of cost and estimated fee chargeable less costs expected to be incurred to completion.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

KAM PROJECT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 14 -
1.8
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of 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 deducting all of its liabilities.

KAM PROJECT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 15 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

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

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
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.

KAM PROJECT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 16 -
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

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

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

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

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2024
2023
£
£
Turnover analysed by class of business
Sale of services
9,782,689
11,217,585
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom
9,515,004
9,579,068
Europe
251,261
1,638,517
Rest of the world
16,424
-
9,782,689
11,217,585
KAM PROJECT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
3
Turnover and other revenue
(Continued)
- 17 -
2024
2023
£
£
Other revenue
Interest income
5,449
3,400
4
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange gains
-
0
(4,237)
Depreciation of owned tangible fixed assets
65,647
90,745
Loss on disposal of tangible fixed assets
575
-
5
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
7,150
6,800
For other services
Other assurance services
7,100
6,750
All other non-audit services
275
250
7,375
7,000
6
Employees

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

2024
2023
Number
Number
73
83

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
4,978,428
5,781,351
Social security costs
612,931
738,708
Pension costs
490,586
334,485
6,081,945
6,854,544
KAM PROJECT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 18 -
7
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
1,040,204
1,262,331

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 8 (2023 - 8).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2024
2023
£
£
Remuneration for qualifying services
167,671
170,645
Company pension contributions to defined contribution schemes
9,954
6,866
8
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
5,384
3,400
Other interest income
65
-
0
Total income
5,449
3,400
9
Interest payable and similar expenses
2024
2023
£
£
Other interest
15,333
8,134
10
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
499,795
611,842
Deferred tax
Origination and reversal of timing differences
(11,409)
(4,981)
Total tax charge
488,386
606,861
KAM PROJECT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
10
Taxation
(Continued)
- 19 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
2,123,150
2,659,575
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 25.00%)
530,788
664,894
Tax effect of expenses that are not deductible in determining taxable profit
13,869
16,377
Effect of change in corporation tax rate
-
0
(83,173)
Group relief
(56,127)
(865)
Permanent capital allowances in excess of depreciation
(5,147)
(8,077)
Depreciation on assets not qualifying for tax allowances
16,412
22,686
Deferred tax
(11,409)
(4,981)
Taxation charge for the year
488,386
606,861
11
Dividends
2024
2023
£
£
Interim paid
555,000
585,000
KAM PROJECT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 20 -
12
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 October 2023
140,612
319,928
460,540
Additions
9,220
11,367
20,587
Disposals
(199)
(4,290)
(4,489)
At 30 September 2024
149,633
327,005
476,638
Depreciation and impairment
At 1 October 2023
90,184
256,841
347,025
Depreciation charged in the year
20,960
44,687
65,647
Eliminated in respect of disposals
(116)
(3,798)
(3,914)
At 30 September 2024
111,028
297,730
408,758
Carrying amount
At 30 September 2024
38,605
29,275
67,880
At 30 September 2023
50,428
63,087
113,515
13
Stocks
2024
2023
£
£
Work in progress
310,780
310,248
14
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,882,421
1,596,664
Amounts owed by group undertakings
6,377,378
5,800,343
Prepayments and accrued income
150,167
158,563
8,409,966
7,555,570
KAM PROJECT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 21 -
15
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
87,436
64,138
Corporation tax
299,692
304,729
Other taxation and social security
634,937
696,208
Other creditors
53,913
47,502
Accruals and deferred income
275,371
301,140
1,351,349
1,413,717
16
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
16,969
28,378
2024
Movements in the year:
£
Liability at 1 October 2023
28,378
Credit to profit or loss
(11,409)
Liability at 30 September 2024
16,969

The deferred tax liability set out above is expected to reverse within 48 months and relates to accelerated capital allowances that are expected to mature within the same period.

17
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
490,586
334,485

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

18
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
KAM PROJECT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
18
Share capital
(Continued)
- 22 -

Ordinary shares are entitled to one vote in any circumstances, equal rights to dividends, to participate in a distribution on winding up of the company and are non-redeemable.

 

19
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
7,503,649
6,035,935
Profit for the year
1,634,764
2,052,714
Dividends declared and paid in the year
(555,000)
(585,000)
At the end of the year
8,583,413
7,503,649
20
Financial commitments, guarantees and contingent liabilities

The director does not believe there are any financial commitments, guarantees or contingent liabilities that need to be disclosed.

21
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
183,835
183,835
Between two and five years
603,081
786,916
786,916
970,751
22
Events after the reporting date

There are no events after the year end that the directors believe need to be reported.

23
Related party transactions
Transactions with related parties

During the year, purchases amounting to £3,246 (2023: £52,691) were made with KCS Consultancy Limited. Kevin Sims, a shareholder and director of KAM Group Holdings 2020 Limited is also a director of KCS Consultancy Limited.

24
Ultimate controlling party

The parent company of KAM Project Consultants Ltd is KAM Group Holdings Limited and its registered office is First Floor Baird House Seebeck Place, Knowlhill, Milton Keynes, MK5 8FR.

KAM PROJECT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
24
Ultimate controlling party
(Continued)
- 23 -

The ultimate parent company of KAM Project Consultants Ltd is KAM Group Holdings 2020 Limited and its registered office is First Floor Baird House Seebeck Place, Knowlhill, Milton Keynes, MK5 8FR.

The company's financial statements are consolidated into the ultimate holding company's financial statements as at 30 September 2024 and are available from the parent's registered office.

Largest group
KAM Group Holdings 2020 Limited
Smallest group
KAM Group Holdings 2020 Limited
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