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REGISTERED NUMBER: 08173052 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 March 2025

for

K M Exhausts Limited

K M Exhausts Limited (Registered number: 08173052)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

K M Exhausts Limited

Company Information
for the Year Ended 31 March 2025







DIRECTORS: Mrs K Morgan
Mrs T F Short





REGISTERED OFFICE: Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN





BUSINESS ADDRESS: The Old Smithy
Fold Hill
Low Road South, Friskney
Boston
Lincolnshire
PE22 8RG





REGISTERED NUMBER: 08173052 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

K M Exhausts Limited (Registered number: 08173052)

Balance Sheet
31 March 2025

31.3.25 31.3.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,272 5,839

CURRENT ASSETS
Stocks 1,000 21,000
Debtors 5 30,567 5,412
Cash at bank 3,499 10,078
35,066 36,490
CREDITORS
Amounts falling due within one year 6 31,692 35,427
NET CURRENT ASSETS 3,374 1,063
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,646

6,902

PROVISIONS FOR LIABILITIES 2,846 1,013
NET ASSETS 15,800 5,889

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 15,700 5,789
SHAREHOLDERS' FUNDS 15,800 5,889

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

K M Exhausts Limited (Registered number: 08173052)

Balance Sheet - continued
31 March 2025


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:




Mrs K Morgan - Director



Mrs T F Short - Director


K M Exhausts Limited (Registered number: 08173052)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

K M Exhausts 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. The Directors consider this basis to be appropriate despite the fact that the balance sheet shows net current liabilities at 31 March 2025. The directors and shareholders have confirmed their continued support for the 12 months from the balance sheet date.

Should the company be unable to continue trading, adjustments would have to be made to adjust the value of the assets to their recoverable amount and to provide for any further liabilities which might arise.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

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

K M Exhausts Limited (Registered number: 08173052)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments 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
Basic financial assets, which include debtors, 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.

Basic financial liabilities
Basic financial liabilities, including creditors and loans 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.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

K M Exhausts Limited (Registered number: 08173052)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2024 10,028 127 3,276 13,431
Additions 11,735 2,092 374 14,201
Disposals (1,263 ) - - (1,263 )
At 31 March 2025 20,500 2,219 3,650 26,369
DEPRECIATION
At 1 April 2024 4,449 58 3,085 7,592
Charge for year 4,146 398 224 4,768
Eliminated on disposal (1,263 ) - - (1,263 )
At 31 March 2025 7,332 456 3,309 11,097
NET BOOK VALUE
At 31 March 2025 13,168 1,763 341 15,272
At 31 March 2024 5,579 69 191 5,839

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade debtors 2,683 4,246
Amounts owed by related party 18,512 -
Tax debtor - 1,166
Directors' loan accounts 8,209 -
Prepayments and accrued income 1,163 -
30,567 5,412

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade creditors 7,984 11,771
Amounts owed to related party - 5,997
Tax 1,603 -
Social security and other taxes 7,051 1,533
Other creditors 1,517 1,271
Directors' loan accounts 10,947 12,369
Accrued expenses 2,590 2,486
31,692 35,427

K M Exhausts Limited (Registered number: 08173052)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.25 31.3.24
value: £    £   
100 Ordinary £1 100 100

8. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the year end outstanding contributions totalled £292 (2024 - £252).

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25 31.3.24
£    £   
Mrs K Morgan
Balance outstanding at start of year (1,422 ) (4,987 )
Amounts advanced 20,470 4,500
Amounts repaid (10,840 ) (935 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,208 (1,422 )

The director's overdrawn loan account was fully repaid in May 2025, with interest charged at a rate of 2.25%.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
K M Exhausts Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of K M Exhausts Limited for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of K M Exhausts Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of K M Exhausts Limited and state those matters that we have agreed to state to the Board of Directors of K M Exhausts Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than K M Exhausts Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that K M Exhausts Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of K M Exhausts Limited. You consider that K M Exhausts Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of K M Exhausts Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN


27 June 2025