B&K MAYSON CONTRACTING SERVICES LTD


Directors	MAYSON, Brett Gary
	MAYSON, Elaine


Registered Address	Carleton House
	136 Gray Street
	Workington
	CA14 2LU


Registered Number	12367296 (England and Wales)

Statement of Financial Position
30 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		102,655		78,473
			102,655		78,473
Current assets
Stocks	4	71,162		22,093
Debtors		28,391		45,930
Cash at bank and on hand		22,145		87,192
		121,698		155,215
Creditors amounts falling due within one year	5	(141,596)		(107,472)
Net current assets (liabilities)			(19,898)		47,743
Total assets less current liabilities			82,757		126,216
Creditors amounts falling due after one year	6		(50,689)		(17,342)
Provisions for liabilities	8		(15,713)		(14,366)
Net assets			16,355		94,508
Capital and reserves
Called up share capital			20		20
Profit and loss account			16,335		94,488
Shareholders' funds			16,355		94,508

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 11 April 2025, and are signed on its behalf by:

MAYSON, Brett Gary
Director
Registered Company No. 12367296

B&K MAYSON CONTRACTING SERVICES LTD

Notes to the Financial Statements
for the year ended 30 December 2024

1.	Accounting policies

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

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Judgements and key sources of estimation uncertainty
	In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Plant and machinery	25	-
Vehicles	-	5

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, 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 the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 

At each date of Statement of Financial Position, 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 the Income Statement.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	26		10

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Total
	£	£	£
Cost or valuation
At 31 December 23	64,672	71,792	136,464
Additions	-	57,758	57,758
Disposals	-	(5,000)	(5,000)
At 30 December 24	64,672	124,550	189,222
Depreciation and impairment
At 31 December 23	30,117	27,874	57,991
Charge for year	8,639	20,937	29,576
On disposals	-	(1,000)	(1,000)
At 30 December 24	38,756	47,811	86,567
Net book value
At 30 December 24	25,916	76,739	102,655
At 30 December 23	34,555	43,918	78,473

4.	Stocks

	2024	2023
	£	£
Work in progress	71,162	22,093
Total	71,162	22,093

5.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	1,634	887
Bank borrowings and overdrafts	42,293	-
Taxation and social security	66,497	48,045
Finance lease and HP contracts	18,454	30,308
Other creditors	6,685	20,684
Accrued liabilities and deferred income	6,033	7,548
Total	141,596	107,472

6.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	10,417	14,443
Other creditors	40,272	2,899
Total	50,689	17,342

7.	Obligations under finance leases

		2024		2023
		£		£
	Finance lease and HP contracts	40,272		2,898

8.	Provisions for liabilities

	2024	2023
	£	£
Net deferred tax liability (asset)	15,713	14,366
Total	15,713	14,366