A M King & Sons Ltd

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 7

A M King & Sons Ltd

(Registration number: 11382737)
Statement of Financial Position as at 31 May 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	6,900	9,200
Tangible assets	5	29,050	34,079
		35,950	43,279
Current assets
Stock and work in progress		13,877	12,369
Debtors	6	5,375	5,280
Cash at bank and in hand		44,427	48,524
		63,679	66,173
Creditors: Amounts falling due within one year	7	(21,574)	(24,585)
Net current assets		42,105	41,588
Total assets less current liabilities		78,055	84,867
Provisions for liabilities		(5,520)	(6,319)
Net assets		72,535	78,548
Capital and reserves
Called up share capital		2	2
Profit and loss account		72,533	78,546
Shareholders' funds		72,535	78,548

For the financial year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 6 October 2025 and signed on its behalf by:
 

Mr Andrew King Director

A M King & Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Mandava
Ringmore
Kingsbridge
Devon
TQ7 4HL
England

Principal activity

The principal activity of the company is that of construction.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the entity.

A M King & Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for goods supplied and services rendered in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	15% reducing balance
Plant and machinery	15% reducing balance
Fittings fixtures and equipment	20% reducing balance

A M King & Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025 (continued)

2	Accounting policies (continued)

Motor vehicles	25% reducing balance
Computer equipment	33% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

A M King & Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025 (continued)

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 June 2024	23,000	23,000
At 31 May 2025	23,000	23,000
Amortisation
At 1 June 2024	13,800	13,800
Amortisation charge	2,300	2,300
At 31 May 2025	16,100	16,100
Carrying amount
At 31 May 2025	6,900	6,900
At 31 May 2024	9,200	9,200

A M King & Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025 (continued)

5	Tangible assets

	Freehold property £	Fixtures, fittings and equipment £	Plant and machinery £	Computer equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 June 2024	4,119	259	60,909	3,773	4,567	73,627
Additions	565	-	-	-	-	565
At 31 May 2025	4,684	259	60,909	3,773	4,567	74,192
Depreciation
At 1 June 2024	1,295	180	31,951	2,368	3,754	39,548
Charge for the year	437	16	4,343	595	203	5,594
At 31 May 2025	1,732	196	36,294	2,963	3,957	45,142
Carrying amount
At 31 May 2025	2,952	63	24,615	810	610	29,050
At 31 May 2024	2,824	79	28,958	1,405	813	34,079

6

Debtors

	2025 £	2024 £
Other debtors	3,500	3,894
Prepayments	1,875	1,386
	5,375	5,280

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Trade creditors	267	2,060
Taxation and social security	9,412	6,040
Accruals and deferred income	(409)	1,619
Other creditors	12,304	14,866
	21,574	24,585

A M King & Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025 (continued)

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9	Related party transactions

During the year the directors entered into the following advances and credits with the company:
 

2025	At 1 June 2024 £	Advances to director £	At 31 May 2025 £
Directors	(14,306)	2,283	(12,023)

2024	At 1 June 2023 £	Advances to director £	At 31 May 2024 £
Directors	(19,106)	4,800	(14,306)

Directors' loans are repayable on demand and subject to interest on overdrawn balances at the official rate.