K R Martin Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

K R Martin Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06126489 . The registered office is Unit 14, Midland Mills Station Road, Crosshills, Keighley, West Yorkshire, BD20 7DT.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

The financial statements are prepared under the historical cost basis.

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

2.2. Turnover

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 from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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 is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 20 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	4% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	15% reducing balance
Computer Equipment	33.33% straight line

2.5. Leasing and Hire Purchase Contracts

Assets acquired under hire purchase contracts are depreciated over their useful lives.

Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods.

The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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K R Martin Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.7. Financial Instruments

A financial asset or a financial liability is recognised only when the company becomes a 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.

Debt instruments are subsequently measured at amortised cost.

2.8. Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.

Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.

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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

2.9. Pensions

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

2.10. 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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

2.11. Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period is arises.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 20 (2025: 20)

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K R Martin Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2025	151,000

As at 31 March 2026	151,000

Amortisation
As at 1 April 2025	151,000

As at 31 March 2026	151,000

Net Book Value
As at 31 March 2026	-

As at 1 April 2025	-

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2025	6,595	23,505	17,604	4,190	51,894
Additions	-	38,049	-	-	38,049

As at 31 March 2026	6,595	61,554	17,604	4,190	89,943

Depreciation
As at 1 April 2025	6,069	21,879	12,745	4,190	44,883
Provided during the period	526	6,747	730	-	8,003

As at 31 March 2026	6,595	28,626	13,475	4,190	52,886

Net Book Value
As at 31 March 2026	-	32,928	4,129	-	37,057

As at 1 April 2025	526	1,626	4,859	-	7,011

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	226,090	217,442
Other debtors	30,772	32,074

	256,862	249,516

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K R Martin Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	7,830	-
Trade creditors	97,085	112,527
Other creditors	105,970	162,796
Taxation and social security	67,640	57,341

	278,525	332,664

Included within creditors: amounts falling due within one year, are net obligations under hire purchase contracts of £7,830 (2025 - £nil) which are secured against the assets to which they relate.

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	2,610	-

Included within creditors: amounts falling due after more than one year, are net obligations under hire purchase contracts of £2,610 (2025 - £nil) which are secured against the assets to which they relate.

9. Pension Commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £10,620 (2025 - £10,613).

Contributions totalling £1,115 (2025 - £760) were payable to the fund at the year end, and are included in creditors: amounts falling due within one year.

10. Related Party Transactions

During the year, dividends of £16,729 (2025 - £18,000) were paid to the directors.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		37,057		7,011

			37,057		7,011
CURRENT ASSETS
Stocks		23,000		32,939
Debtors	6	256,862		249,516
Cash at bank and in hand		181,479		191,327

		461,341		473,782
Creditors: Amounts Falling Due Within One Year	7	(278,525 )		(332,664 )

NET CURRENT ASSETS (LIABILITIES)			182,816		141,118

TOTAL ASSETS LESS CURRENT LIABILITIES			219,873		148,129

Creditors: Amounts Falling Due After More Than One Year	8		(2,610 )		-

PROVISIONS FOR LIABILITIES
Deferred Taxation			(9,264 )		(1,753 )

NET ASSETS			207,999		146,376

CAPITAL AND RESERVES
Called up share capital			40		40
Capital redemption reserve			60		60
Profit and Loss Account			207,899		146,276

SHAREHOLDERS' FUNDS			207,999		146,376