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Company No: 10824445 (England and Wales)

KARN HAVOS BUILDING COMPANY LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

KARN HAVOS BUILDING COMPANY LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

KARN HAVOS BUILDING COMPANY LIMITED

BALANCE SHEET

As at 31 March 2024
KARN HAVOS BUILDING COMPANY LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 0 168
0 168
Current assets
Stocks 4 130,000 140,000
Debtors 5 119,752 233,196
Cash at bank and in hand 15,522 17,502
265,274 390,698
Creditors: amounts falling due within one year 6 ( 135,295) ( 183,906)
Net current assets 129,979 206,792
Total assets less current liabilities 129,979 206,960
Net assets 129,979 206,960
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 129,879 206,860
Total shareholder's funds 129,979 206,960

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Karn Havos Building Company Limited (registered number: 10824445) were approved and authorised for issue by the Board of Directors on 21 March 2025. They were signed on its behalf by:

Mr A Banks
Director
KARN HAVOS BUILDING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
KARN HAVOS BUILDING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Karn Havos Building Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents charges made for the provision of construction services and is stated net of VAT and trade discounts and is recognised as milestones are reached in accordance with the underlying contracts.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 April 2023 675 675
At 31 March 2024 675 675
Accumulated depreciation
At 01 April 2023 507 507
Charge for the financial year 168 168
At 31 March 2024 675 675
Net book value
At 31 March 2024 0 0
At 31 March 2023 168 168

4. Stocks

2024 2023
£ £
Work in progress 130,000 140,000

5. Debtors

2024 2023
£ £
Trade debtors 3,660 0
Amounts owed by Group undertakings 89,826 205,283
Other debtors 26,266 27,913
119,752 233,196

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 41,263 94,188
Accruals 2,801 7,338
Corporation tax 40,175 32,023
Other creditors 51,056 50,357
135,295 183,906

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Other related party transactions

2024 2023
£ £
Karn Havos Holdings Limited 89,826 205,283

Working capital has been provided to the parent company by way on an inter-group loan. At the year end the amount owed by the parent company was £89,826 (2023 - £205,283) in this respect. The loan is interest free and repayable on demand.

9. Ultimate controlling party

Parent Company:

Karn Havos Holdings Limited
Lowin House
Tregolls Road
Truro
TR1 2NA