Company registration number 13064789 (England and Wales)
KAM GROUP HOLDINGS 2020 LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
KAM GROUP HOLDINGS 2020 LTD
COMPANY INFORMATION
Directors
Mr K Sims
Mr D French
Mr M Jenkins
Mr M O'Neill
Mr S Price
Mr D Vaughan
Mr M Wilcock
Mr T Neumeier
Mr M Shea
Company number
13064789
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 GROUP HOLDINGS 2020 LTD
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Profit and loss account
8
Group statement of comprehensive income
9
Group balance sheet
10
Company balance sheet
11
Group statement of changes in equity
12
Company statement of changes in equity
13
Group statement of cash flows
14
Company statement of cash flows
15
Notes to the financial statements
16 - 32
KAM GROUP HOLDINGS 2020 LTD
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

KAM Group's core sector focus is predominantly on the UK’s expanding industrial and logistics markets with an increasing 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' Group's performance for the period.

2024
2023
Change
£'000
£'000
%
Turnover
10,805
12,547
14%
Operating profit
531
1,945
73%
Profit for the financial year
(89)
945
109%
Total equity
5,457
5,911
8%
Current assets as % of current liabilities
206%
180%
26%
Return on assets %
1%
7%
8%
Average number of employees during the year
92
103
(11)
Development and performance

KAM Group 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.

 

KAM Group 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 GROUP HOLDINGS 2020 LTD
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, KAM Group has no credit risks from client’s in this category.

 

KAM' Group'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. KAM Group 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, KAM Group 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 GROUP HOLDINGS 2020 LTD
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 and group continued to be that of a holding company.

Results and dividends

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

Ordinary dividends were paid amounting to £368,060. The directors do not recommend payment of a further dividend.

No preference dividends were paid. 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 L Alden
(Resigned 15 May 2024)
Mr D French
Mr M Jenkins
Mr S Ledingham
(Resigned 24 October 2024)
Mr M O'Neill
Mr S Price
Mr D Vaughan
Mr M Wilcock
Mr T Neumeier
Mr M Shea
Auditor

In accordance with the company's articles, a resolution proposing that DSA Prospect Audit Limited be reappointed as auditor of the group 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 auditor of the company 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 auditor of the company 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 GROUP HOLDINGS 2020 LTD
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 group and company, and of the profit or loss of the group 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 group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

KAM GROUP HOLDINGS 2020 LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF KAM GROUP HOLDINGS 2020 LTD
- 5 -
Opinion

We have audited the financial statements of KAM Group Holdings 2020 Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2024 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows 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 group and parent 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 group's and parent 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 GROUP HOLDINGS 2020 LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF KAM GROUP HOLDINGS 2020 LTD
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their 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 parent 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 parent 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 GROUP HOLDINGS 2020 LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF KAM GROUP HOLDINGS 2020 LTD
- 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, Statutory Auditor
Chartered Certified Accountants
First Floor
1 Des Roches Square
Witan Way
Witney
OX28 4BE
5 February 2025
KAM GROUP HOLDINGS 2020 LTD
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
2024
2023
Notes
£
£
Turnover
3
10,804,609
12,546,907
Cost of sales
(4,642,251)
(4,898,061)
Gross profit
6,162,358
7,648,846
Administrative expenses
(5,600,952)
(5,698,234)
Other operating expenses
(30,888)
(5,201)
Operating profit
4
530,518
1,945,411
Interest receivable and similar income
6
5,449
3,400
Interest payable and similar expenses
7
(97,738)
(233,334)
Amounts written off investments
8
-
(1,649)
Profit before taxation
438,229
1,713,828
Tax on profit
9
(526,863)
(768,765)
(Loss)/profit for the financial year
24
(88,634)
945,063
(Loss)/profit for the financial year is attributable to:
- Owners of the parent company
(80,609)
911,940
- Non-controlling interests
(8,025)
33,123
(88,634)
945,063
KAM GROUP HOLDINGS 2020 LTD
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 9 -
2024
2023
£
£
(Loss)/profit for the year
(88,634)
945,063
Other comprehensive income
-
-
Cash flow hedges gain arising in the year
-
0
-
0
Total comprehensive income for the year
(88,634)
945,063
Total comprehensive income for the year is attributable to:
- Owners of the parent company
(80,609)
911,940
- Non-controlling interests
(8,025)
33,123
(88,634)
945,063
KAM GROUP HOLDINGS 2020 LTD
GROUP BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 10 -
2024
2023
Notes
£
£
£
£
Fixed assets
Goodwill
11
7,892,418
9,207,821
Tangible assets
12
69,957
113,192
7,962,375
9,321,013
Current assets
Stocks
15
310,780
310,248
Debtors
16
2,239,372
1,977,101
Cash at bank and in hand
1,332,948
1,508,978
3,883,100
3,796,327
Creditors: amounts falling due within one year
17
(1,887,176)
(2,114,018)
Net current assets
1,995,924
1,682,309
Total assets less current liabilities
9,958,299
11,003,322
Creditors: amounts falling due after more than one year
18
(4,484,151)
(5,064,071)
Provisions for liabilities
Deferred tax liability
20
16,969
28,378
(16,969)
(28,378)
Net assets
5,457,179
5,910,873
Capital and reserves
Called up share capital
23
4,331,674
4,328,674
Profit and loss reserves
24
1,100,407
1,549,076
Equity attributable to owners of the parent company
5,432,081
5,877,750
Non-controlling interests
25,098
33,123
Total equity
5,457,179
5,910,873

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

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:
29 January 2025
Mr M O'Neill
Director
Company registration number 13064789 (England and Wales)
KAM GROUP HOLDINGS 2020 LTD
COMPANY BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 11 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
13
11,923,339
11,923,339
Current assets
Debtors
16
3,699,877
3,147,578
Creditors: amounts falling due within one year
17
(4,244,488)
(3,134,566)
Net current (liabilities)/assets
(544,611)
13,012
Total assets less current liabilities
11,378,728
11,936,351
Creditors: amounts falling due after more than one year
18
(4,484,151)
(5,064,071)
Net assets
6,894,577
6,872,280
Capital and reserves
Called up share capital
23
4,331,674
4,328,674
Profit and loss reserves
24
2,562,903
2,543,606
Total equity
6,894,577
6,872,280

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £387,357 (2023 - £3,070,275 profit).

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:
29 January 2025
Mr M O'Neill
Director
Company registration number 13064789 (England and Wales)
KAM GROUP HOLDINGS 2020 LTD
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 12 -
Share capital
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
Balance at 1 October 2022
4,328,674
1,220,488
5,549,162
-
5,549,162
Year ended 30 September 2023:
Profit and total comprehensive income
-
911,940
911,940
33,123
945,063
Dividends
10
-
(585,001)
(585,001)
-
(585,001)
Disposal of shares in subsidiary to non-controlling interest
-
1,649
1,649
-
1,649
Balance at 30 September 2023
4,328,674
1,549,076
5,877,750
33,123
5,910,873
Year ended 30 September 2024:
Loss and total comprehensive income
-
(80,609)
(80,609)
(8,025)
(88,634)
Issue of share capital
23
14,000
-
14,000
-
14,000
Dividends
10
-
(368,060)
(368,060)
-
(368,060)
Reduction of shares
23
(11,000)
-
(11,000)
-
(11,000)
Balance at 30 September 2024
4,331,674
1,100,407
5,432,081
25,098
5,457,179
KAM GROUP HOLDINGS 2020 LTD
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 13 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 October 2022
4,328,674
58,331
4,387,005
Year ended 30 September 2023:
Profit and total comprehensive income for the year
-
3,070,276
3,070,276
Dividends
10
-
(585,001)
(585,001)
Balance at 30 September 2023
4,328,674
2,543,606
6,872,280
Year ended 30 September 2024:
Profit and total comprehensive income
-
387,357
387,357
Issue of share capital
23
14,000
-
14,000
Dividends
10
-
(368,060)
(368,060)
Reduction of shares
23
(11,000)
-
(11,000)
Balance at 30 September 2024
4,331,674
2,562,903
6,894,577
KAM GROUP HOLDINGS 2020 LTD
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 14 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
28
1,432,024
4,058,257
Interest paid
(97,738)
(233,334)
Income taxes paid
(543,309)
(787,683)
Net cash inflow from operating activities
790,977
3,037,240
Investing activities
Purchase of tangible fixed assets
(27,396)
(28,787)
Proceeds from disposal of subsidiaries, net of cash disposed
-
(1,649)
Interest received
5,449
3,400
Net cash used in investing activities
(21,947)
(27,036)
Financing activities
Proceeds from issue of shares
14,000
-
Redemption of shares
(11,000)
-
0
Repayment of borrowings
(580,000)
(1,985,376)
Disposal of shares in subsidiary to non-controlling interest
-
1,649
Dividends paid to equity shareholders
(368,060)
(585,001)
Net cash used in financing activities
(945,060)
(2,568,728)
Net (decrease)/increase in cash and cash equivalents
(176,030)
441,476
Cash and cash equivalents at beginning of year
1,508,978
1,067,502
Cash and cash equivalents at end of year
1,332,948
1,508,978
KAM GROUP HOLDINGS 2020 LTD
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 15 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
29
477,385
(504,423)
Interest paid
(82,405)
(225,200)
Net cash inflow/(outflow) from operating activities
394,980
(729,623)
Investing activities
Dividends received
550,000
3,300,000
Net cash generated from investing activities
550,000
3,300,000
Financing activities
Proceeds from issue of shares
14,000
-
Redemption of shares
(11,000)
-
0
Repayment of borrowings
(579,920)
(1,985,376)
Dividends paid to equity shareholders
(368,060)
(585,001)
Net cash used in financing activities
(944,980)
(2,570,377)
Net increase in cash and cash equivalents
-
-
Cash and cash equivalents at beginning of year
-
0
-
0
Cash and cash equivalents at end of year
-
0
-
0
KAM GROUP HOLDINGS 2020 LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 16 -
1
Accounting policies
Company information

KAM Group Holdings 2020 Ltd (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is First Floor Baird House, Seebeck Place, Knowlhill, Milton Keynes, MK5 8FR.

 

The group consists of KAM Group Holdings 2020 Ltd and all of its subsidiaries.

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.

1.2
Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

 

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company KAM Group Holdings 2020 Ltd together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

 

All financial statements are made up to 30 September 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

KAM GROUP HOLDINGS 2020 LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 17 -

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

 

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

 

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group 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.

1.5
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 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.

1.6
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.7
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.

KAM GROUP HOLDINGS 2020 LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 18 -

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:

Plant and equipment
33% straight line
Fixtures and fittings
20% straight line
Computers
33% straight line

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 recognised in the profit and loss account.

1.8
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. 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 group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

 

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

 

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

 

In the parent company financial statements, investments in associates are accounted for at cost less impairment.

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

1.9
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible 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.

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

KAM GROUP HOLDINGS 2020 LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 19 -

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.

1.10
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.

1.11
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.

1.12
Financial instruments

The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and 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.

KAM GROUP HOLDINGS 2020 LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 20 -
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 group 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 group after deducting all of its liabilities.

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.

KAM GROUP HOLDINGS 2020 LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 21 -
Derecognition of financial liabilities

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

1.13
Equity instruments

Equity instruments issued by the group 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 group.

1.14
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 group’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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. 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 if, and only if, there is 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.

1.15
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.

1.16
Retirement benefits

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

1.17
Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the weighted average exercise price model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

KAM GROUP HOLDINGS 2020 LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 22 -

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

 

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

2
Judgements and key sources of estimation uncertainty

In the application of the group’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
2024
2023
£
£
Turnover analysed by geographical market
UK Sales
9,515,004
11,217,585
EU Sales
1,273,181
1,329,322
Rest of the World
16,424
-
10,804,609
12,546,907
2024
2023
£
£
Other revenue
Interest income
5,449
3,400
4
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging:
Exchange losses
30,888
1,872
Fees payable to the group's auditor for the audit of the group's financial statements
1,450
1,375
Depreciation of owned tangible fixed assets
70,056
91,804
Loss on disposal of tangible fixed assets
575
-
Amortisation of intangible assets
1,315,403
1,315,403
KAM GROUP HOLDINGS 2020 LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 23 -
5
Employees

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

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
92
103
11
11

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
5,538,783
6,195,542
-
0
-
0
Social security costs
692,243
803,771
-
-
Pension costs
490,586
334,485
-
0
-
0
6,721,612
7,333,798
-
0
-
0
6
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
5,384
3,400
Other interest income
65
-
Total income
5,449
3,400
2024
2023
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
5,384
3,400
7
Interest payable and similar expenses
2024
2023
£
£
Interest on financial liabilities measured at amortised cost:
Other interest on financial liabilities
82,405
225,200
Other finance costs:
Other interest
15,333
8,134
Total finance costs
97,738
233,334
KAM GROUP HOLDINGS 2020 LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 24 -
8
Amounts written off investments
2024
2023
£
£
Other gains and losses
-
(1,649)
9
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
499,795
611,842
Foreign current tax on profits for the current period
28,634
161,904
Adjustments in foreign tax in respect of prior periods
9,843
-
0
Total current tax
538,272
773,746
Deferred tax
Origination and reversal of timing differences
(11,409)
(4,981)
Total tax charge
526,863
768,765

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
438,229
1,713,828
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 25.00%)
109,557
428,457
Tax effect of expenses that are not deductible in determining taxable profit
32,991
73,985
Effect of change in corporation tax rate
-
(83,173)
Permanent capital allowances in excess of depreciation
(5,147)
(8,077)
Depreciation on assets not qualifying for tax allowances
16,412
22,686
Amortisation on assets not qualifying for tax allowances
328,851
328,851
Effect of overseas tax rates
55,608
11,017
Deferred tax
(11,409)
(4,981)
Taxation charge
526,863
768,765
10
Dividends
2024
2023
Recognised as distributions to equity holders:
£
£
Interim paid
368,060
585,001
KAM GROUP HOLDINGS 2020 LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 25 -
11
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
13,154,030
Amortisation and impairment
At 1 October 2023
3,946,209
Amortisation charged for the year
1,315,403
At 30 September 2024
5,261,612
Carrying amount
At 30 September 2024
7,892,418
At 30 September 2023
9,207,821
The company had no intangible fixed assets at 30 September 2024 or 30 September 2023.

More information on impairment movements in the year is given in note .

12
Tangible fixed assets
Group
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 October 2023
-
0
106,909
239,467
346,376
Additions
6,809
9,220
11,367
27,396
Disposals
-
0
(199)
(4,290)
(4,489)
At 30 September 2024
6,809
115,930
246,544
369,283
Depreciation and impairment
At 1 October 2023
-
0
56,481
176,703
233,184
Depreciation charged in the year
4,409
20,960
44,687
70,056
Eliminated in respect of disposals
-
0
(116)
(3,798)
(3,914)
At 30 September 2024
4,409
77,325
217,592
299,326
Carrying amount
At 30 September 2024
2,400
38,605
28,952
69,957
At 30 September 2023
-
0
50,428
62,764
113,192
The company had no tangible fixed assets at 30 September 2024 or 30 September 2023.
KAM GROUP HOLDINGS 2020 LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 26 -
13
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
11,923,339
11,923,339
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 October 2023 and 30 September 2024
11,923,339
Carrying amount
At 30 September 2024
11,923,339
At 30 September 2023
11,923,339
14
Subsidiaries

Details of the company's subsidiaries at 30 September 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
KAM Group Holdings Limited
UK
Ordinary
100.00
-
KAM Project Consultants Limited
UK
Ordinary
0
100.00
KAM Project Consultants GmbH
DE
Ordinary
0
92.50
15
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Work in progress
310,780
310,248
-
-
KAM GROUP HOLDINGS 2020 LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 27 -
16
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
2,073,570
1,806,569
-
0
-
0
Amounts owed by group undertakings
-
-
3,699,877
3,147,578
Other debtors
15,635
11,969
-
0
-
0
Prepayments and accrued income
150,167
158,563
-
0
-
0
2,239,372
1,977,101
3,699,877
3,147,578
17
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Other borrowings
19
-
0
80
-
0
-
0
Trade creditors
106,990
89,624
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
3,804,643
2,675,457
Corporation tax payable
299,692
304,729
-
0
-
0
Other taxation and social security
645,986
707,332
-
-
Other creditors
138,871
108,188
25,515
39,515
Accruals and deferred income
695,637
904,065
414,330
419,594
1,887,176
2,114,018
4,244,488
3,134,566
18
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Other borrowings
19
4,484,151
5,064,071
4,484,151
5,064,071
19
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Other loans
4,484,151
5,064,151
4,484,151
5,064,071
Payable within one year
-
0
80
-
0
-
0
Payable after one year
4,484,151
5,064,071
4,484,151
5,064,071
KAM GROUP HOLDINGS 2020 LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 28 -
20
Deferred taxation

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

Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
16,969
28,378
The company has no deferred tax assets or liabilities.
Group
Company
2024
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 24 months and relates to accelerated capital allowances that are expected to mature within the same period.

21
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
490,586
334,485

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

22
Share-based payment transactions
Group and company
Number of share options
Weighted average exercise price
2024
2023
2024
2023
Number
Number
£
£
Outstanding at 1 October 2023
14,000
14,000
1.00
1.00
Exercised
(14,000)
-
1.00
-
Outstanding at 30 September 2024
-
14,000
-
1.00
Exercisable at 30 September 2024
-
-
-
-
KAM GROUP HOLDINGS 2020 LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
22
Share-based payment transactions
(Continued)
- 29 -

The weighted average share price at the date of exercise for share options exercised during the year was £1 (2023 - £1.49).

Group and company

The weighted average fair value of options granted in the year was determined using the Black-Scholes option pricing model. The Black-Scholes model is considered to apply the most appropriate valuation method due to the relatively short contractual lives of the options and the requirement to exercise within a short period after the employee becomes entitled to the shares (the “vesting date”).

 

The expected life used in the model has been adjusted, based on management’s best estimate, for the effect of non-transferability, exercise restrictions, and behavioural considerations.

 

Non-vesting conditions and market conditions are taken into account when estimating the fair value of the option at grant date. Service conditions and non-market performance conditions are taken into account by adjusting the number of options expected to vest at each reporting date.

23
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary of £1 each
10,000
10,000
10,000
10,000
B Ordinary of £1 each
75,000
72,000
75,000
72,000
85,000
82,000
85,000
82,000
2024
2023
2024
2023
Preference share capital
Number
Number
£
£
Issued and fully paid
Preference of £1 each
4,246,674
4,246,674
4,246,674
4,246,674
Preference shares classified as equity
4,246,674
4,246,674
Total equity share capital
4,331,674
4,328,674

Ordinary A 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.

 

Ordinary B 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.

 

Preference shares are not entitled to vote in any circumstances, no rights to dividends, to participate in a distribution on winding up of the company and are non-redeemable.

KAM GROUP HOLDINGS 2020 LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 30 -
24
Profit and loss reserves
Group
Company
2024
2023
2024
2023
£
£
£
£
At the beginning of the year
1,549,076
1,220,488
2,543,606
58,331
Profit/(loss) for the year
(80,609)
911,940
387,357
3,070,276
Dividends
(368,060)
(585,001)
(368,060)
(585,001)
Disposal of shares in subsidiary to non-controlling interest
-
1,649
-
-
At the end of the year
1,100,407
1,549,076
2,562,903
2,543,606
25
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.

26
Operating lease commitments

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

Group
Company
2024
2023
2024
2023
£
£
£
£
Within one year
183,835
183,835
-
-
Between two and five years
603,081
786,916
-
-
786,916
970,751
-
-
27
Events after the reporting date

There are no events after the reporting date that the directors believe need disclosing.

KAM GROUP HOLDINGS 2020 LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 31 -
28
Cash generated from group operations
2024
2023
£
£
(Loss)/profit after taxation
(88,634)
945,063
Adjustments for:
Taxation charged
526,863
768,765
Finance costs
97,738
233,334
Investment income
(5,449)
(3,400)
Loss on disposal of tangible fixed assets
575
-
Amortisation and impairment of intangible assets
1,315,403
1,315,403
Depreciation and impairment of tangible fixed assets
70,056
91,804
Other gains and losses
-
1,649
Movements in working capital:
(Increase)/decrease in stocks
(532)
6,540
(Increase)/decrease in debtors
(262,271)
761,320
Decrease in creditors
(221,725)
(62,221)
Cash generated from operations
1,432,024
4,058,257
29
Cash generated from/(absorbed by) operations - company
2024
2023
£
£
Profit after taxation
387,357
3,070,276
Adjustments for:
Finance costs
82,405
225,200
Investment income
(550,000)
(3,300,000)
Movements in working capital:
Increase in debtors
(552,299)
(3,147,578)
Increase in creditors
1,109,922
2,647,679
Cash generated from/(absorbed by) operations
477,385
(504,423)
30
Analysis of changes in net debt - group
1 October 2023
Cash flows
30 September 2024
£
£
£
Cash at bank and in hand
1,508,978
(176,030)
1,332,948
Borrowings excluding overdrafts
(5,064,151)
580,000
(4,484,151)
(3,555,173)
403,970
(3,151,203)
KAM GROUP HOLDINGS 2020 LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 32 -
31
Analysis of changes in net debt - company
1 October 2023
Cash flows
30 September 2024
£
£
£
Borrowings excluding overdrafts
(5,064,071)
579,920
(4,484,151)
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