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REGISTERED NUMBER: 06769534 (England and Wales)














Financial Statements

for the Year Ended 31 March 2023

for

The Knight Shop International Limited

The Knight Shop International Limited (Registered number: 06769534)

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


The Knight Shop International Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: G Tunstall
B Tunstall





REGISTERED OFFICE: 2A Mochdre Commerce Parc
Ty Gwyn Road
Mochdre
Colwyn Bay
Conwy
LL28 5HX





REGISTERED NUMBER: 06769534 (England and Wales)





ACCOUNTANTS: SB&P
Chartered Accountants
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

The Knight Shop International Limited (Registered number: 06769534)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 270,607 281,253
Investments 6 10,000 10,000
Investment property 7 232,808 232,808
513,415 524,061

CURRENT ASSETS
Stocks 765,723 558,703
Debtors 8 568,155 278,453
Cash at bank and in hand 67,563 190,771
1,401,441 1,027,927
CREDITORS
Amounts falling due within one year 9 345,791 312,742
NET CURRENT ASSETS 1,055,650 715,185
TOTAL ASSETS LESS CURRENT LIABILITIES 1,569,065 1,239,246

CREDITORS
Amounts falling due after more than one year 10 (248,758 ) (276,996 )

PROVISIONS FOR LIABILITIES (7,675 ) (6,510 )
NET ASSETS 1,312,632 955,740

CAPITAL AND RESERVES
Called up share capital 13 280 280
Share premium 9,900 9,900
Retained earnings 1,302,452 945,560
SHAREHOLDERS' FUNDS 1,312,632 955,740

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 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.

The Knight Shop International Limited (Registered number: 06769534)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by:




G Tunstall - Director



B Tunstall - Director


The Knight Shop International Limited (Registered number: 06769534)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

The Knight Shop International 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.

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.

Turnover
Turnover represents the value of goods sold during the period, net of VAT and trade discounts. Turnover is recognised when goods are physically delivered to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
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.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Goodwill - 10% straight line
Freehold property - 2% straight line
Investment to property - 10% on reducing balance
Plant & machinery - 10% on reducing balance
Fixtures & fittings - 10% on reducing balance
Computer equipment - 10% on reducing balance
Motor Vehicles - 25% on redusing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

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


The Knight Shop International Limited (Registered number: 06769534)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 80,000
AMORTISATION
At 1 April 2022
and 31 March 2023 80,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

The Knight Shop International Limited (Registered number: 06769534)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 April 2022
and 31 March 2023 245,440 52,004 57,713
DEPRECIATION
At 1 April 2022 19,635 36,266 33,070
Charge for year 4,909 1,574 2,464
At 31 March 2023 24,544 37,840 35,534
NET BOOK VALUE
At 31 March 2023 220,896 14,164 22,179
At 31 March 2022 225,805 15,738 24,643

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 22,181 4,495 8,609 390,442
DEPRECIATION
At 1 April 2022 12,704 3,215 4,299 109,189
Charge for year 948 320 431 10,646
At 31 March 2023 13,652 3,535 4,730 119,835
NET BOOK VALUE
At 31 March 2023 8,529 960 3,879 270,607
At 31 March 2022 9,477 1,280 4,310 281,253

The Knight Shop International Limited (Registered number: 06769534)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 10,000
NET BOOK VALUE
At 31 March 2023 10,000
At 31 March 2022 10,000

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 232,808
NET BOOK VALUE
At 31 March 2023 232,808
At 31 March 2022 232,808

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 70,882 36,238
Other debtors 497,273 242,215
568,155 278,453

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 30,839 30,063
Trade creditors 85,076 85,692
Taxation and social security 182,945 149,157
Other creditors 46,931 47,830
345,791 312,742

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 248,758 276,996

The Knight Shop International Limited (Registered number: 06769534)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.3.23 31.3.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 132,801 153,402

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year 6,466 17,911
Between one and five years 372 6,838
6,838 24,749

12. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 279,597 307,059

HSBC Bank PLC has a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery.

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
143 Ordinary New A £1 143 143
137 Ordinary New B £1 137 137
280 280

The Knight Shop International Limited (Registered number: 06769534)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
B Tunstall
Balance outstanding at start of year 72,925 26,565
Amounts advanced 348,469 136,360
Amounts repaid (93,775 ) (90,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 327,619 72,925

G Tunstall
Balance outstanding at start of year 128,963 107,047
Amounts advanced 120,879 137,250
Amounts repaid (91,446 ) (115,334 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 158,396 128,963