Weston Knightly Limited 07124263 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is the purchase and sale of precious metals Digita Accounts Production Advanced 6.30.9574.0 true true 07124263 2022-02-01 2023-01-31 07124263 2023-01-31 07124263 core:RetainedEarningsAccumulatedLosses 2023-01-31 07124263 core:ShareCapital 2023-01-31 07124263 core:CurrentFinancialInstruments 2023-01-31 07124263 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 07124263 core:PatentsTrademarksLicencesConcessionsSimilar 2023-01-31 07124263 core:FurnitureFittingsToolsEquipment 2023-01-31 07124263 bus:SmallEntities 2022-02-01 2023-01-31 07124263 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 07124263 bus:FullAccounts 2022-02-01 2023-01-31 07124263 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 07124263 bus:RegisteredOffice 2022-02-01 2023-01-31 07124263 bus:Director1 2022-02-01 2023-01-31 07124263 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 07124263 core:PatentsTrademarksLicencesConcessionsSimilar 2022-02-01 2023-01-31 07124263 core:ComputerEquipment 2022-02-01 2023-01-31 07124263 core:FurnitureFittings 2022-02-01 2023-01-31 07124263 core:FurnitureFittingsToolsEquipment 2022-02-01 2023-01-31 07124263 countries:EnglandWales 2022-02-01 2023-01-31 07124263 2022-01-31 07124263 core:PatentsTrademarksLicencesConcessionsSimilar 2022-01-31 07124263 core:FurnitureFittingsToolsEquipment 2022-01-31 07124263 2021-02-01 2022-01-31 07124263 2022-01-31 07124263 core:RetainedEarningsAccumulatedLosses 2022-01-31 07124263 core:ShareCapital 2022-01-31 07124263 core:CurrentFinancialInstruments 2022-01-31 07124263 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 07124263 core:FurnitureFittingsToolsEquipment 2022-01-31 iso4217:GBP xbrli:pure

Registration number: 07124263

Weston Knightly Limited

Unaudited Financial Statements

for the Year Ended 31 January 2023

 

Weston Knightly Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Weston Knightly Limited

(Registration number: 07124263)
Statement of Financial Position as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

521

896

Current assets

 

Debtors

6

251,698

251,657

Cash at bank and in hand

 

8,970

3,000

 

260,668

254,657

Creditors: Amounts falling due within one year

7

(436,564)

(436,484)

Net current liabilities

 

(175,896)

(181,827)

Net liabilities

 

(175,375)

(180,931)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(175,376)

(180,932)

Shareholders Funds

 

(175,375)

(180,931)

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 30 August 2023
 

.........................................
Mr A Vaid
Director

 

Weston Knightly Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
United Kingdom

These financial statements were authorised for issue by the director on 30 August 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurances from the director that he will continue to give financial support to the company for the foreseeable future and for a period not less than 12 months from the date of signing these financial statements.

On this basis, the director considers it appropriate to prepare the accounts on the going concern basis. However, should the financial support mentioned above not be forthcoming the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be be necessary should this basis not continue to be appropriate.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Weston Knightly Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

33% Reducing balance

Computer Equipment

25% Straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website

20% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.
 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Weston Knightly Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 February 2022

1,959

1,959

At 31 January 2023

1,959

1,959

Amortisation

At 1 February 2022

1,959

1,959

At 31 January 2023

1,959

1,959

Carrying amount

At 31 January 2023

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2022

122,977

122,977

Additions

495

495

Disposals

(122,786)

(122,786)

At 31 January 2023

686

686

Depreciation

At 1 February 2022

122,081

122,081

Charge for the year

400

400

Eliminated on disposal

(122,316)

(122,316)

At 31 January 2023

165

165

Carrying amount

At 31 January 2023

521

521

At 31 January 2022

896

896

6

Debtors

Current

2023
£

2022
£

Other debtors

251,698

251,657

 

Weston Knightly Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

725

725

Other creditors

435,839

435,759

436,564

436,484