REGISTERED NUMBER: 06344397 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

K M Homes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Robbins

K J Williams

REGISTERED OFFICE:

Suite 5 Corum 2

Corum Office Park

Crown Way

Warmley

Bristol

BS30 8FJ

REGISTERED NUMBER:

06344397 (England and Wales)

ACCOUNTANTS:

Verinder Powell Associates Ltd

Suite 5 Corum 2

Corum Office Park

Crown Way

Warmley

Bristol

BS30 8FJ

FIXED ASSETS

Tangible assets

4

122

21,497

Investment property

5

898,437

968,437

898,559

989,934

CURRENT ASSETS

Stocks

354,057

354,057

Debtors

6

681

3,478

Cash at bank

14,990

6,596

369,728

364,131

CREDITORS

Amounts falling due within one year

7

485,510

531,878

NET CURRENT LIABILITIES

(115,782

)

(167,747

)

TOTAL ASSETS LESS CURRENT LIABILITIES

782,777

822,187

CREDITORS

Amounts falling due after more than one year

8

(572,526

)

(572,553

)

PROVISIONS FOR LIABILITIES

(21,031

)

(30,995

)

NET ASSETS

189,220

218,639

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

189,216

218,635

189,220

218,639

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

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 24 September 2025 and were signed on its behalf by:

M Robbins - Director

1.	STATUTORY INFORMATION

K M Homes 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.

There have been no material departures from the Financial Reporting Standard 102 1A.

Turnover

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

The company recognises revenue when:

- the amount of revenue can be reliably measured;

- it is probable that future economic benefits will flow to the entity;

- and specific criteria have been met for each of the company's activities.

Tangible fixed assets

Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

- 20% on cost

Motor Vehicles

- 20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 March 2024

244

35,542

35,786

Disposals

-

(35,542

)

(35,542

)

At 28 February 2025

244

-

244

DEPRECIATION

At 1 March 2024

73

14,216

14,289

Charge for year

49

-

49

Eliminated on disposal

-

(14,216

)

(14,216

)

At 28 February 2025

122

-

122

NET BOOK VALUE

At 28 February 2025

122

-

122

At 29 February 2024

171

21,326

21,497

5.	INVESTMENT PROPERTY

Total

£

COST

At 1 March 2024

968,437

Impairments

(70,000

)

At 28 February 2025

898,437

NET BOOK VALUE

At 28 February 2025

898,437

At 29 February 2024

968,437

The fair value of the investment properties has been arrived at by a valuation by the directors at their open market value at 28 February 2025 based on similar properties.

The historical cost value relating to investment properties are £814,437 (2024 - £814,437).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Other debtors

681

3,478

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans and overdrafts

19,849

19,849

Taxation and social security

3,420

-

Other creditors

462,241

512,029

485,510

531,878

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans

572,526

572,553

9.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.25

29.2.24

£

£

Bank loans

592,375

592,402

The bank loans are secured by a fixed charge in respect of the company's investment properties.

10.	RELATED PARTY DISCLOSURES

Loan from key management

Key management

Total

2025

£

£

At start of period

510,949

510,949

Advanced

684

684

Repaid

(52,667

)

(52,667

)

At end of period

458,966

458,966

Key management

Total

2024

£

£

At start of period

475,728

475,728

Advanced

41,238

41,238

Repaid

(6,017

)

(6,017

)

At end of period

510,949

510,949

Loans from key management are interest free and repayable on demand.