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Registration number: 03066531

Byrne & King Ltd.
Annual Report and Financial Statements
for the Year Ended 31 August 2024

Byrne & King Ltd.

Contents

Balance Sheet | 1
Notes to the Financial Statements | 2 to 8

Byrne & King Ltd.

(Registration number: 03066531)
Balance Sheet as at 31 August 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 268,265 | 319,240
Current assets |  |  |
Debtors | 5 | 789,726 | 627,231
Cash at bank and in hand |  | 90,808 | 460,863
|  | 880,534 | 1,088,094
Creditors: Amounts falling due within one year | 6 | (144,490) | (95,746)
Net current assets |  | 736,044 | 992,348
Total assets less current liabilities |  | 1,004,309 | 1,311,588
Creditors: Amounts falling due after more than one year | 6 | (41,770) | (68,152)
Provisions for liabilities |  | (19,016) | (37,266)
Net assets |  | 943,523 | 1,206,170
Capital and reserves |  |  |
Called up share capital | 7 | 200 | 200
Retained earnings |  | 943,323 | 1,205,970
Shareholders' funds |  | 943,523 | 1,206,170

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 Profit and Loss Account.

Approved and authorised by the Board on 16 October 2025 and signed on its behalf by:

E F McGurk Director |  |

Byrne & King Ltd.

Notes to the Financial Statements for the Year Ended 31 August 2024

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:
Gloucester House
29 Brunswick Square
Gloucester
Gloucestershire
GL1 1UN

These financial statements were authorised for issue by the Board on 16 October 2025.

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 and presentational currency of the company, and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis. As at the date of signing the financial statements, the directors confirms that the company is in a position to meet its liabilities for a period of 12 months and that there are no foreseeable events which may give rise to liabilities which exceeds the company’s ability to pay.

Byrne & King Ltd.

Notes to the Financial Statements for the Year Ended 31 August 2024

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 20 October 2025 was Guy Armitage-Norton, who signed for and on behalf of ML Audit LLP.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Revenue comprises the fair value of construction carried out in the year, based on an internal assessment of work carried out. Once the outcome of a construction contract can be estimated reliably, profit is recognised in the income statement on a stage of contract completion basis by reference to the costs incurred to date.
Losses expected in bringing a contract to completion are recognised immediately in the income statement as soon as they are forecast.
Amounts recoverable on long term contracts, included within debtors, represent revenue, less progress payments received. Where progress payments exceed revenue, the excess is shown as amounts payable on long term contracts within current liabilities.
Retentions on contracts are recognised within turnover to the extent that they are deemed recoverable. Where it is anticipated that the company will be required to incur additional costs in order to release the retention, provision is made for those costs in arriving at attributable profit on each contract.

Tax

Taxation for the year 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 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.

Byrne & King Ltd.

Notes to the Financial Statements for the Year Ended 31 August 2024

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 15% reducing balance
Office equipment | 25% reducing balance
Motor vehicles | 15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Amounts payable under operating leases are spread over the lease term on a striaght line basis.

Byrne & King Ltd.

Notes to the Financial Statements for the Year Ended 31 August 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year was 6 (2023 - 6).

4 | Tangible assets

| Plant and machinery £ | Office equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 September 2023 | 867,827 | 16,769 | 170,555 | 1,055,151
Additions | 27,743 | - | - | 27,743
Disposals | (143,000) | - | - | (143,000)
At 31 August 2024 | 752,570 | 16,769 | 170,555 | 939,894
Depreciation
At 1 September 2023 | 592,687 | 16,651 | 126,573 | 735,911
Charge for the year | 41,504 | 30 | 10,995 | 52,529
Eliminated on disposal | (116,811) | - | - | (116,811)
At 31 August 2024 | 517,380 | 16,681 | 137,568 | 671,629
Carrying amount
At 31 August 2024 | 235,190 | 88 | 32,987 | 268,265
At 31 August 2023 | 275,140 | 118 | 43,982 | 319,240

Byrne & King Ltd.

Notes to the Financial Statements for the Year Ended 31 August 2024

Included within the net book value of tangible fixed assets is £92,188 (2023: £216,496) in respect of assets held under hire purchase contracts.

5 | Debtors

| Note | 2024 £ | 2023 £
Trade debtors |  | 2,122 | -
Amounts owed by related parties | 10 | 323,256 | 301,998
Other debtors |  | 25,520 | 14,070
Prepayments |  | 6,765 | 37,458
Amounts recoverable on contracts |  | 432,063 | 273,705
|  | 789,726 | 627,231

6 | Creditors

Due within one year | Note | 2024 £ | 2023 £
Loans and borrowings | 8 | 29,944 | 33,505
Trade creditors |  | 82,082 | 39,116
Amounts due to related parties | 10 | 18,445 | -
Social security and other taxes |  | 7,514 | 6,955
Other creditors |  | 705 | -
Accruals |  | 5,800 | 5,800
Corporation tax liability |  | - | 10,370
|  | 144,490 | 95,746
Due after one year |  |  |
Loans and borrowings | 8 | 41,770 | 68,152

7 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary A of £1 each | 100 | 100 | 100 | 100
Ordinary B of £1 each | 100 | 100 | 100 | 100
| 200 | 200 | 200 | 200

Byrne & King Ltd.

Notes to the Financial Statements for the Year Ended 31 August 2024

8 | Loans and borrowings

Current loans and borrowings

| 2024 £ | 2023 £
Hire purchase contracts | 29,944 | 33,505

Non-current loans and borrowings

| 2024 £ | 2023 £
Hire purchase contracts | 41,770 | 68,152

Hire purchase contracts are secured against the assets to which they relate.

9 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of guarantees not included in the balance sheet are £7,755,321 (2023 - £9,449,781). The company has given a composite cross guarantee in respect of loans and overdrafts for all companies in the McGurk Group Limited group. All companies are under the control of E F McGurk.

Amounts disclosed in the balance sheet

Included in the balance sheet are outstanding pension liabilities of £705 (2023 - £Nil).

10 | Related party transactions

In the financial year the company incurred costs in respect of consultancy services for £121,572 (2023: £121,572) from SKGK Limited, a company owned by director S P King.
Amounts owed by companies within the McGurk Group Limited group at 31 August 2024 were £284,633 (2023: £283,051). Amounts owed by other companies under common control at 31 August 2024 were £38,623 (2023: £18,947). These amounts are interest free and repayable on demand.
Amounts owed to companies within the McGurk Group Limited group at 31 August 2024 were £1,188 (2023: £Nil). Amounts owed by other companies under common control at 31 August 2024 were £17,258 (2023: £Nil). These amounts are interest free and repayable on demand.

Byrne & King Ltd.

Notes to the Financial Statements for the Year Ended 31 August 2024

11 | Relationship between entity and parents

The parent of the largest group in which these financial statements are consolidated is McGurk Group Limited, incorporated in United Kingdom.

The address of McGurk Group Limited is:
Gloucester House, Brunswick Square, Gloucester, GL1 1UN

The ultimate controlling party is considered to be E McGurk due to his shareholding in McGurk Group Limited.