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REGISTERED NUMBER: 04945572 (England and Wales)







FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

KNIGHTS BROS DECORATORS LTD

KNIGHTS BROS DECORATORS LTD (REGISTERED NUMBER: 04945572)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KNIGHTS BROS DECORATORS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: D R Knights
R C Knights





SECRETARY: D R Knights





REGISTERED OFFICE: 125 Russell Lane
Whetstone
London
N20 0AZ





REGISTERED NUMBER: 04945572 (England and Wales)





ACCOUNTANTS: BENEDICTS
873 High Road
North Finchley
London
N12 8QA

KNIGHTS BROS DECORATORS LTD (REGISTERED NUMBER: 04945572)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,200 3,350
4,200 3,350

CURRENT ASSETS
Debtors 6 20,000 13,511
Cash at bank 37,048 80,159
57,048 93,670
CREDITORS
Amounts falling due within one year 7 16,842 50,385
NET CURRENT ASSETS 40,206 43,285
TOTAL ASSETS LESS CURRENT
LIABILITIES

44,406

46,635

CAPITAL AND RESERVES
Called up share capital 8 4 4
Retained earnings 9 44,402 46,631
SHAREHOLDERS' FUNDS 44,406 46,635

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

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

KNIGHTS BROS DECORATORS LTD (REGISTERED NUMBER: 04945572)

BALANCE SHEET - continued
31 OCTOBER 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 Board of Directors and authorised for issue on 27 February 2024 and were signed on its behalf by:




D R Knights - Director



R C Knights - Director


KNIGHTS BROS DECORATORS LTD (REGISTERED NUMBER: 04945572)

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

1. STATUTORY INFORMATION

Knights Bros Decorators Ltd 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vans - 25% on reducing balance
Computer equipment - 33% on cost

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes 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.


KNIGHTS BROS DECORATORS LTD (REGISTERED NUMBER: 04945572)

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

2. ACCOUNTING POLICIES - continued
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.

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 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 60,000
AMORTISATION
At 1 November 2022
and 31 October 2023 60,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

KNIGHTS BROS DECORATORS LTD (REGISTERED NUMBER: 04945572)

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

5. TANGIBLE FIXED ASSETS
Motor Computer
vans equipment Totals
£    £    £   
COST
At 1 November 2022 33,097 1,717 34,814
Additions 5,600 - 5,600
Disposals (13,280 ) - (13,280 )
At 31 October 2023 25,417 1,717 27,134
DEPRECIATION
At 1 November 2022 29,747 1,717 31,464
Charge for year 2,977 - 2,977
Eliminated on disposal (11,507 ) - (11,507 )
At 31 October 2023 21,217 1,717 22,934
NET BOOK VALUE
At 31 October 2023 4,200 - 4,200
At 31 October 2022 3,350 - 3,350

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 17,410 12,960
VAT 2,590 551
20,000 13,511

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation 6,781 16,944
Social security and other taxes 60 643
Directors' current accounts 1,431 21,124
Creditors & accruals 8,570 11,674
16,842 50,385

KNIGHTS BROS DECORATORS LTD (REGISTERED NUMBER: 04945572)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2
2 "A" Ordinary £1 2 2
4 4

9. RESERVES
Retained
earnings
£   

At 1 November 2022 46,631
Profit for the year 29,771
Dividends (32,000 )
At 31 October 2023 44,402