| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 July 2025 |
| for |
| K10 Systems Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 July 2025 |
| for |
| K10 Systems Ltd |
| K10 Systems Ltd (Registered number: 09688923) |
| Contents of the Financial Statements |
| for the Year Ended 31 July 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| K10 Systems Ltd |
| Company Information |
| for the Year Ended 31 July 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| K10 Systems Ltd (Registered number: 09688923) |
| Balance Sheet |
| 31 July 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| K10 Systems Ltd (Registered number: 09688923) |
| Balance Sheet - continued |
| 31 July 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| K10 Systems Ltd (Registered number: 09688923) |
| Notes to the Financial Statements |
| for the Year Ended 31 July 2025 |
| 1. | STATUTORY INFORMATION |
| K10 Systems Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue in respect of construction contracts is recognised as the company performs its obligations and when the outcome of the transaction can be estimated reliably. The company is able to reliably estimate the outcome of a construction contract when all of the following conditions are satisfied: |
| - the amount of revenue can be measured reliably; |
| - it is probable that the economic benefits associated with the transaction will flow to the entity; |
| - the stage of completion of the transaction at the end of the reporting period can be measured reliably; and |
| - the costs incurred for the transaction and the costs to complete the transaction can be measured reliably. |
| Where the company renders invoices in advance of work performed, the sale is deferred in the balance sheet as deferred income and is presented within creditors falling due within one year until the revenue recognition criteria in FRS 102, Section 23 Revenue is met. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
| K10 Systems Ltd (Registered number: 09688923) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| 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 makes employer pension contributions to employee pension policies and complies with auto enrolment legislation. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 August 2024 |
| Additions |
| At 31 July 2025 |
| DEPRECIATION |
| At 1 August 2024 |
| Charge for year |
| At 31 July 2025 |
| NET BOOK VALUE |
| At 31 July 2025 |
| At 31 July 2024 |
| K10 Systems Ltd (Registered number: 09688923) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2025 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 August 2024 |
| Additions |
| At 31 July 2025 |
| DEPRECIATION |
| At 1 August 2024 |
| Charge for year |
| At 31 July 2025 |
| NET BOOK VALUE |
| At 31 July 2025 |
| At 31 July 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts recoverable on |
| contracts |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts |
| K10 Systems Ltd (Registered number: 09688923) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2025 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts | 266,764 | 89,277 |
| 9. | OTHER FINANCIAL COMMITMENTS |
| At 31st July 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those assets of £34,141, (2024: £90,590). |
| 10. | RELATED PARTY DISCLOSURES |
| K10 Development Group Ltd |
| A company controlled by Mr C Connor jnr |
| Monies were loaned to this company on an interest free basis. |
| The balance owing and shown in other debtors under 1 year at 31st July 2025: £364,441, (2024: £Nil). |
| 11. | ULTIMATE CONTROLLING PARTY |
| There is no overall controlling party. |