Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2024-02-01No description of principal activity64truetruefalse 10418685 2024-02-01 2025-03-31 10418685 2023-02-01 2024-01-31 10418685 2025-03-31 10418685 2024-01-31 10418685 c:Director2 2024-02-01 2025-03-31 10418685 d:MotorVehicles 2024-02-01 2025-03-31 10418685 d:MotorVehicles 2025-03-31 10418685 d:MotorVehicles 2024-01-31 10418685 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-02-01 2025-03-31 10418685 d:ComputerEquipment 2024-02-01 2025-03-31 10418685 d:ComputerEquipment 2025-03-31 10418685 d:ComputerEquipment 2024-01-31 10418685 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-02-01 2025-03-31 10418685 d:OwnedOrFreeholdAssets 2024-02-01 2025-03-31 10418685 d:CurrentFinancialInstruments 2025-03-31 10418685 d:CurrentFinancialInstruments 2024-01-31 10418685 d:Non-currentFinancialInstruments 2025-03-31 10418685 d:Non-currentFinancialInstruments 2024-01-31 10418685 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 10418685 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 10418685 d:Non-currentFinancialInstruments d:AfterOneYear 2025-03-31 10418685 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 10418685 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2025-03-31 10418685 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 10418685 d:ShareCapital 2025-03-31 10418685 d:ShareCapital 2024-01-31 10418685 d:RetainedEarningsAccumulatedLosses 2025-03-31 10418685 d:RetainedEarningsAccumulatedLosses 2024-01-31 10418685 c:FRS102 2024-02-01 2025-03-31 10418685 c:AuditExempt-NoAccountantsReport 2024-02-01 2025-03-31 10418685 c:FullAccounts 2024-02-01 2025-03-31 10418685 c:PrivateLimitedCompanyLtd 2024-02-01 2025-03-31 10418685 2 2024-02-01 2025-03-31 10418685 e:PoundSterling 2024-02-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: 10418685









KARM HOMES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2025

 
KARM HOMES LIMITED
REGISTERED NUMBER: 10418685

BALANCE SHEET
AS AT 31 MARCH 2025

31 March
31 January
2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,314
1,503

  
1,314
1,503

Current assets
  

Stocks
 5 
-
1,744,310

Debtors: amounts falling due within one year
 6 
3,503
18,361

Cash at bank and in hand
 7 
121,551
45,514

  
125,054
1,808,185

Creditors: amounts falling due within one year
 8 
(431,327)
(1,096,732)

Net current (liabilities)/assets
  
 
 
(306,273)
 
 
711,453

Total assets less current liabilities
  
(304,959)
712,956

Creditors: amounts falling due after more than one year
 9 
-
(1,002,278)

  

Net liabilities
  
(304,959)
(289,322)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(305,059)
(289,422)

  
(304,959)
(289,322)


Page 1

 
KARM HOMES LIMITED
REGISTERED NUMBER: 10418685
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 June 2025.



M Keenes
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
KARM HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025

1.


General information

Karm Homes Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 10418685. The address of the registered office is 8 Longaford Way, Brentwood, Essex, United Kingdom, CM13 2LT. The principal activity of the company is that of construction of domestic buildings.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have made the decision to wind down the Company post year end. As a result they do not consider the Company to be a going concern and therefore accounts have been prepared on a break up basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 
Sale of Properties
Revenue is recognised on completion of the property sale.
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
-   the amount of revenue can be measured reliably;
-   it is probable that the Company will receive the consideration due under the contract;
-   the stage of completion of the contract at the end of the reporting period can be measured    reliably; and
-   the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
KARM HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Reducing-balance
Computer equipment
-
50%
Straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
KARM HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of
Page 5

 
KARM HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.13
Financial instruments (continued)

the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

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

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
KARM HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025

3.


Employees

The average monthly number of employees, including directors, during the period was 6 (2024 - 4).


4.


Tangible fixed assets







Motor vehicles
Computer equipment
Total

£
£
£



Cost or valuation


At 1 February 2024
15,285
2,865
18,150


Additions
-
916
916



At 31 March 2025

15,285
3,781
19,066



Depreciation


At 1 February 2024
14,098
2,549
16,647


Charge for the period on owned assets
297
808
1,105



At 31 March 2025

14,395
3,357
17,752



Net book value



At 31 March 2025
890
424
1,314



At 31 January 2024
1,187
316
1,503


5.


Stocks

31 March
31 January
2025
2024
£
£

Work in progress
-
1,744,310

-
1,744,310


Page 7

 
KARM HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025

6.


Debtors

31 March
31 January
2025
2024
£
£


Amounts owed by group undertakings
-
2,082

Other debtors
3,503
16,279

3,503
18,361



7.


Cash and cash equivalents

31 March
31 January
2025
2024
£
£

Cash at bank and in hand
121,551
45,514

121,551
45,514



8.


Creditors: Amounts falling due within one year

31 March
31 January
2025
2024
£
£

Bank loans
12,211
24,030

Trade creditors
1,517
60,861

Amounts owed to group undertakings
332,873
928,737

Other taxation and social security
4,336
8,628

Other creditors
76,260
71,516

Accruals and deferred income
4,130
2,960

431,327
1,096,732


Page 8

 
KARM HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025

9.


Creditors: Amounts falling due after more than one year

31 March
31 January
2025
2024
£
£

Bank loans
-
1,002,278

-
1,002,278


The bank loan was secured against the property owned by the company that was in development and held within stock in the prior year.


10.


Loans


Analysis of the maturity of loans is given below:


31 March
31 January
2025
2024
£
£

Amounts falling due within one year

Bank loans
12,211
24,030


12,211
24,030

Amounts falling due 1-2 years

Bank loans
-
1,002,278


-
1,002,278



12,211
1,026,308



11.


Pension commitments

The company operates a defined contribution retirement benefit scheme for all qualifying employees. The assets of the schemes are held seperately from those of the company in an independently adminstered fund. 
The total cost charge of £2,115 (2024: £1,334) represents contributions payable to these schemes by the company at rates specified in the rules of the schemes. As at 31st March 2025, contributions of £811 (2024: £258) due in respect of current reporting period had not been paid over to the schemes. 

Page 9

 
KARM HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025

12.


Related party transactions

During the year directors remuneration totalled £91,431 (2023: £25,073).
There were no amounts due to directors at the year end (2023: £70,879).
There were no amounts due from entities with control at the year end (2023: £2,082).


13.


Controlling party

Karm Group Holdings Limited is the ultimate parent company.
 
Page 10