KNIGHTS TRANSPORT LTD

Company Registration Number:
12627627 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2023

Period of accounts

Start date: 01 June 2022

End date: 31 May 2023

KNIGHTS TRANSPORT LTD

Contents of the Financial Statements

for the Period Ended 31 May 2023

Balance sheet
Notes

KNIGHTS TRANSPORT LTD

Balance sheet

As at 31 May 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 142,354 134,096
Total fixed assets: 142,354 134,096
Current assets
Debtors:   322,545 126,664
Cash at bank and in hand: 11,268 172,051
Total current assets: 333,813 298,715
Creditors: amounts falling due within one year: 4 (374,566) (248,072)
Net current assets (liabilities): (40,753) 50,643
Total assets less current liabilities: 101,601 184,739
Creditors: amounts falling due after more than one year:     (47,346)
Provision for liabilities: (27,047) (25,478)
Total net assets (liabilities): 74,554 111,915
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 74,454 111,815
Shareholders funds: 74,554 111,915

The notes form part of these financial statements

KNIGHTS TRANSPORT LTD

Balance sheet statements

For the year ending 31 May 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 13 November 2023
and signed on behalf of the board by:

Name: Melinder Kaur Basra
Status: Director

The notes form part of these financial statements

KNIGHTS TRANSPORT LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discountsand value added taxes. Turnover includes revenue earned from the sale of goods and from therendering of services. Turnover from the sale of goods is recognised when the significant risksand rewards of ownership of the goods have transferred to the buyer. Turnover from the renderingof services is recognised by reference to the stage of completion of the contract. The stage ofcompletion of a contract is measured by comparing the costs incurred for work performed to dateto the total estimated contract costs.

Tangible fixed assets and depreciation policy

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulativeimpairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land,at rates calculated to write off the cost, less estimated residual value, of each asset evenly over itsexpected useful life, as follows:Freehold buildings over 50 yearsLeasehold land and buildings over the lease termPlant and machinery over 5 yearsFixtures, fittings, tools and equipment over 5 years

Intangible fixed assets and amortisation policy

Intangible fixed assets are measured at cost less accumulative amortisation and any accumulativeimpairment losses.

Valuation and information policy

Stocks are measured at the lower of cost and estimated selling price less costs to complete andsell. Cost is determined using the first in first out method. The carrying amount of stock sold isrecognised as an expense in the period in which the related revenue is recognised.

KNIGHTS TRANSPORT LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

2. Employees

2023 2022
Average number of employees during the period 1 2

KNIGHTS TRANSPORT LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

3. Tangible Assets

Total
Cost £
At 01 June 2022 179,076
Additions 29,069
At 31 May 2023 208,145
Depreciation
At 01 June 2022 44,980
Charge for year 20,811
At 31 May 2023 65,791
Net book value
At 31 May 2023 142,354
At 31 May 2022 134,096

KNIGHTS TRANSPORT LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

4. Creditors: amounts falling due within one year note

Trade Creditors £221513 Taxation and VAT £152665 Other Creditors £388