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REGISTERED NUMBER: 06063621 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

M. KNIGHT CARPENTRY LIMITED

M. KNIGHT CARPENTRY LIMITED (REGISTERED NUMBER: 06063621)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M. KNIGHT CARPENTRY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: M Knight





SECRETARY: K Knight





REGISTERED OFFICE: 44 Falmer Gardens
Woodingdean
Brighton
BN2 6NE





REGISTERED NUMBER: 06063621 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

M. KNIGHT CARPENTRY LIMITED (REGISTERED NUMBER: 06063621)

BALANCE SHEET
31 MARCH 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,681 6,053
Investment property 5 1,000,000 1,000,000
1,004,681 1,006,053

CURRENT ASSETS
Debtors 6 7,790 1,024
Cash at bank 7,780 803
15,570 1,827
CREDITORS
Amounts falling due within one year 7 297,100 288,484
NET CURRENT LIABILITIES (281,530 ) (286,657 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

723,151

719,396

CREDITORS
Amounts falling due after more than one
year

8

(74,650

)

(106,072

)

PROVISIONS FOR LIABILITIES (130,096 ) (99,134 )
NET ASSETS 518,405 514,190

CAPITAL AND RESERVES
Called up share capital 10 10
Fair value reserve 9 386,778 417,720
Retained earnings 131,617 96,460
518,405 514,190

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

M. KNIGHT CARPENTRY LIMITED (REGISTERED NUMBER: 06063621)

BALANCE SHEET - continued
31 MARCH 2023


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 30 September 2023 and were signed by:





M Knight - Director


M. KNIGHT CARPENTRY LIMITED (REGISTERED NUMBER: 06063621)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

M. Knight Carpentry Limited 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

Turnover is recognised in the period that the services relate to and accrued/deferred accordingly where applicable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery-25% on reducing balance
Fixtures and fittings-25% on reducing balance
Motor vehicles-25% on reducing balance
Computer equipment-25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES

The average number of employees during the year was 1 (2022 - 2 ) .

M. KNIGHT CARPENTRY LIMITED (REGISTERED NUMBER: 06063621)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 29,747
Additions 241
Disposals (1,935 )
At 31 March 2023 28,053
DEPRECIATION
At 1 April 2022 23,694
Charge for year 1,560
Eliminated on disposal (1,882 )
At 31 March 2023 23,372
NET BOOK VALUE
At 31 March 2023 4,681
At 31 March 2022 6,053

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 1,000,000
NET BOOK VALUE
At 31 March 2023 1,000,000
At 31 March 2022 1,000,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 7,790 -
Other debtors - 1,024
7,790 1,024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts 30,000 88,268
Trade creditors - 1,613
Taxation and social security 13,220 5,412
Other creditors 253,880 193,191
297,100 288,484

M. KNIGHT CARPENTRY LIMITED (REGISTERED NUMBER: 06063621)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
as restated
£    £   
Bank loans 74,650 106,072

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 48,739

The bank loans are secured over the investment property held.

9. RESERVES
Fair
value
reserve
£   
At 1 April 2022 417,720
Transfer to Reserves (30,942 )

At 31 March 2023 386,778