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Registered Number: 07819831
England & Northern Ireland

 

 

 


Abridged Accounts

for the period ended 31 March 2022

for

KNOBBIES LIMITED

 
 
Notes
 
2022
£
  2020
£
Fixed assets      
Tangible fixed assets 2,324    3,243 
2,324    3,243 
Current assets      
Stocks   4,901 
Debtors 5,000    5,618 
Cash at bank and in hand 9,582    44,473 
14,582    54,992 
Creditors: amount falling due within one year (4,951)   (24,289)
Net current assets 9,631    30,703 
 
Total assets less current liabilities 11,955    33,946 
Provisions for liabilities (441)   (616)
Net assets 11,514    33,330 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 11,414    33,230 
Shareholder's funds 11,514    33,330 
 


For the period ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 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 and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 28 July 2022 and were signed by:


--------------------------------
C Clark
Director
1
General Information
Knobbies Limited is a private company, limited by shares, registered in England & Northern Ireland, registration number 07819831, registration address 4 Stirling House, Sunderland Quay, Culpeper Close, Rochester, Kent, ME2 4HN

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the period was 9 (2020 : 17).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 November 2020 7,468    5,000    12,468 
Additions    
Disposals    
At 31 March 2022 7,468    5,000    12,468 
Depreciation
At 01 November 2020 6,273    2,952    9,225 
Charge for period 339    580    919 
On disposals    
At 31 March 2022 6,612    3,532    10,144 
Net book values
Closing balance as at 31 March 2022 856    1,468    2,324 
Opening balance as at 01 November 2020 1,195    2,048    3,243 


2