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REGISTERED NUMBER: 03511425 (England and Wales)












KAR CONTRACTORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






KAR CONTRACTORS LIMITED (REGISTERED NUMBER: 03511425)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KAR CONTRACTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: D Roberts
R J May





REGISTERED OFFICE: Norman Gilbert House, 38 Mitchell Point
Ensign Way
Hamble-Le-Rice
Southampton
Hampshire
SO31 4RF





REGISTERED NUMBER: 03511425 (England and Wales)

KAR CONTRACTORS LIMITED (REGISTERED NUMBER: 03511425)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 93,844 30,897
93,844 30,897

CURRENT ASSETS
Stocks 198,175 207,059
Debtors 6 841,577 986,795
Cash at bank and in hand 268,776 270,645
1,308,528 1,464,499
CREDITORS
Amounts falling due within one year 7 (812,156 ) (888,389 )
NET CURRENT ASSETS 496,372 576,110
TOTAL ASSETS LESS CURRENT
LIABILITIES

590,216

607,007

CREDITORS
Amounts falling due after more than one year 8 (72,863 ) (4,173 )

PROVISIONS FOR LIABILITIES 11 (21,079 ) (5,190 )
NET ASSETS 496,274 597,644

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 5 5
Retained earnings 496,169 597,539
SHAREHOLDERS' FUNDS 496,274 597,644

KAR CONTRACTORS LIMITED (REGISTERED NUMBER: 03511425)

BALANCE SHEET - continued
31 DECEMBER 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2025 and were signed on its behalf by:





D Roberts - Director


KAR CONTRACTORS LIMITED (REGISTERED NUMBER: 03511425)

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


1. STATUTORY INFORMATION

KAR Contractors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure Is required to show a true and far view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover represents the value of services, net of value added tax, provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, has been fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - Straight line over 4 years
Motor vehicles - Straight line over 4 years
Computer equipment - Straight line over 4 years

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 income statement.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


KAR CONTRACTORS LIMITED (REGISTERED NUMBER: 03511425)

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


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial assets
The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables 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 financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

KAR CONTRACTORS LIMITED (REGISTERED NUMBER: 03511425)

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


2. ACCOUNTING POLICIES - continued

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 January 2024
and 31 December 2024 6,000
AMORTISATION
At 1 January 2024
and 31 December 2024 6,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

KAR CONTRACTORS LIMITED (REGISTERED NUMBER: 03511425)

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


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST
At 1 January 2024 59,617 179,653 15,476 254,746
Additions 606 109,160 - 109,766
Disposals - (32,651 ) (393 ) (33,044 )
At 31 December 2024 60,223 256,162 15,083 331,468
DEPRECIATION
At 1 January 2024 43,559 167,210 13,080 223,849
Charge for year 5,885 36,334 1,153 43,372
Eliminated on disposal - (29,251 ) (346 ) (29,597 )
At 31 December 2024 49,444 174,293 13,887 237,624
NET BOOK VALUE
At 31 December 2024 10,779 81,869 1,196 93,844
At 31 December 2023 16,058 12,443 2,396 30,897

The net book value of tangible fixed assets includes £81,869 (2023 - £12,443) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 787,346 941,657
Other debtors 54,231 45,138
841,577 986,795

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts (see note 9) 22,242 11,039
Trade creditors 17,643 32,874
Taxation and social security 116,258 169,326
Other creditors 656,013 675,150
812,156 888,389

KAR CONTRACTORS LIMITED (REGISTERED NUMBER: 03511425)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Hire purchase contracts (see note 9) 72,863 4,173

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 22,242 11,039
Between one and five years 72,863 4,173
95,105 15,212

Non-cancellable
operating leases
2024 2023
£ £
Within one year - 2,552

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 95,105 15,212

Hire purchase liabilities are secured against the assets to which they relate.

11. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 21,079 5,190

KAR CONTRACTORS LIMITED (REGISTERED NUMBER: 03511425)

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


11. PROVISIONS FOR LIABILITIES - continued

Deferred tax
£
Balance at 1 January 2024 5,190
Provided during year 15,889
Balance at 31 December 2024 21,079

12. ULTIMATE CONTROLLING PARTY

The immediate parent company is Waith Holdings Limited, a company registered in England and Wales. The ultimate parent company is Roberts Holdings (Southampton) Limited , a company registered in England and Wales.

The directors consider D Roberts to be the ultimate controlling party by virtue of his majority shareholding in Roberts Holdings (Southampton) Limited.