REGISTERED NUMBER: 04800101 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

KARN CONSTRUCTION LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr R J George

SECRETARY:

Ms K Phillips

REGISTERED OFFICE:

Karn Construction Ltd

Gwynfa

Hayscastle

Haverfordwest

Pembrokeshire

SA62 5HR

REGISTERED NUMBER:

04800101 (England and Wales)

ACCOUNTANTS:

L M Griffiths & Co Limited

Chartered Certified Accountants

1&2 Merlins Court

Winch Lane

Haverfordwest

Pembrokeshire

SA61 1SB

FIXED ASSETS

Property, plant and equipment

5

408,569

421,827

CURRENT ASSETS

Inventory

500,199

363,484

Debtors

6

183,844

80,777

Cash at bank

158,006

305,665

842,049

749,926

CREDITORS

Amounts falling due within one year

7

(282,422

)

(369,041

)

NET CURRENT ASSETS

559,627

380,885

TOTAL ASSETS LESS CURRENT LIABILITIES

968,196

802,712

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

968,096

802,612

SHAREHOLDERS' FUNDS

968,196

802,712

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 21 July 2026 and were signed by:

Mr R J George - Director

1.	STATUTORY INFORMATION

Karn Construction Ltd 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The director is unaware of any material uncertainties in making his assessment of going concern. As a result of this, the going concern basis of accounting has been adopted.

Turnover

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

Property, plant and equipment

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

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

25% on cost

Inventory

Inventory and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventory 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Revenue recognition

The company's turnover represents the amount derived from its main trading activity. The company recognises revenue when a value can be attributed to work completed.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2024 - 22 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 November 2024

46,053

2,932

516,722

Additions

-

-

33,527

At 31 October 2025

46,053

2,932

550,249

DEPRECIATION

At 1 November 2024

-

-

237,516

Charge for year

-

-

45,646

At 31 October 2025

-

-

283,162

NET BOOK VALUE

At 31 October 2025

46,053

2,932

267,087

At 31 October 2024

46,053

2,932

279,206

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 November 2024

139,322

16,375

721,404

Additions

15,999

-

49,526

At 31 October 2025

155,321

16,375

770,930

DEPRECIATION

At 1 November 2024

47,039

15,022

299,577

Charge for year

16,243

895

62,784

At 31 October 2025

63,282

15,917

362,361

NET BOOK VALUE

At 31 October 2025

92,039

458

408,569

At 31 October 2024

92,283

1,353

421,827

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

96,075

47,779

Other debtors

87,769

32,998

183,844

80,777

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

32,416

57,870

Taxation and social security

154,336

177,961

Other creditors

95,670

133,210

282,422

369,041

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2025 and 31 October 2024:

2025

2024

£

£

Mr R J George

Balance outstanding at start of year

(76,606

)

(46,742

)

Amounts advanced

112,216

63,066

Amounts repaid

(128,860

)

(92,930

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(93,250

)

(76,606

)