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Company Registration No. 06534664 (England and Wales)
Knightsway Homes Limited Unaudited accounts for the year ended 30 April 2023
Knightsway Homes Limited Unaudited accounts Contents
Page
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Knightsway Homes Limited Company Information for the year ended 30 April 2023
Directors
Tracie Knight Craig Knight
Company Number
06534664 (England and Wales)
Registered Office
Hillbrow Belbins Romsey Hampshire SO51 0PE England
Accountants
Infinity Financial Solutions Limited 4 Newton Close Whiteparish Salisbury SP5 2SP
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Knightsway Homes Limited Statement of financial position as at 30 April 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
11,201 
14,935 
Current assets
Inventories
425,566 
372,857 
Debtors
9,861 
3,289 
Cash at bank and in hand
6,837 
56,509 
442,264 
432,655 
Creditors: amounts falling due within one year
(29,107)
(37,953)
Net current assets
413,157 
394,702 
Total assets less current liabilities
424,358 
409,637 
Creditors: amounts falling due after more than one year
(91,871)
(29,216)
Net assets
332,487 
380,421 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
332,387 
380,321 
Shareholders' funds
332,487 
380,421 
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 November 2023 and were signed on its behalf by
Tracie Knight Director Company Registration No. 06534664
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Knightsway Homes Limited Notes to the Accounts for the year ended 30 April 2023
1
Statutory information
Knightsway Homes Limited is a private company, limited by shares, registered in England and Wales, registration number 06534664. The registered office is Hillbrow, Belbins, Romsey, Hampshire, SO51 0PE, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Knightsway Homes Limited Notes to the Accounts for the year ended 30 April 2023
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 May 2022
32,550 
At 30 April 2023
32,550 
Depreciation
At 1 May 2022
17,615 
Charge for the year
3,734 
At 30 April 2023
21,349 
Net book value
At 30 April 2023
11,201 
At 30 April 2022
14,935 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
1,931 
1,741 
Other debtors
7,930 
1,548 
9,861 
3,289 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
20,715 
29,389 
Taxes and social security
547 
- 
Accruals
7,845 
8,564 
29,107 
37,953 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Loans from directors
91,871 
29,216 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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