IRIS Accounts Production v23.3.1.45 04564470 director 1.7.22 30.6.23 30.6.23 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh045644702022-06-30045644702023-06-30045644702022-07-012023-06-30045644702021-06-30045644702021-07-012022-06-30045644702022-06-3004564470ns10:Originalns15:EnglandWales2022-07-012023-06-3004564470ns14:PoundSterlingns10:Original2022-07-012023-06-3004564470ns10:Originalns10:Director12022-07-012023-06-3004564470ns10:Original2022-07-012023-06-3004564470ns10:Original2023-06-3004564470ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3004564470ns10:Originalns10:SmallEntities2022-07-012023-06-3004564470ns10:Originalns10:AuditExempt-NoAccountantsReport2022-07-012023-06-3004564470ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3004564470ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3004564470ns10:Originalns10:FullAccounts2022-07-012023-06-3004564470ns10:Original12022-07-012023-06-3004564470ns10:Originalns10:OrdinaryShareClass12022-07-012023-06-3004564470ns10:Originalns10:RegisteredOffice2022-07-012023-06-3004564470ns10:Original2022-06-3004564470ns10:Originalns5:CurrentFinancialInstruments2023-06-3004564470ns10:Originalns5:CurrentFinancialInstruments2022-06-3004564470ns10:Originalns5:Non-currentFinancialInstruments2023-06-3004564470ns10:Originalns5:Non-currentFinancialInstruments2022-06-3004564470ns5:ShareCapitalns10:Original2023-06-3004564470ns5:ShareCapitalns10:Original2022-06-3004564470ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3004564470ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3004564470ns10:Originalns5:NetGoodwill2022-07-012023-06-3004564470ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-07-012023-06-3004564470ns10:Originalns5:PlantMachinery2022-07-012023-06-3004564470ns10:Originalns5:FurnitureFittings2022-07-012023-06-3004564470ns10:Originalns5:MotorVehicles2022-07-012023-06-3004564470ns10:Original2021-07-012022-06-3004564470ns10:Originalns5:NetGoodwill2022-06-3004564470ns10:Originalns5:NetGoodwill2023-06-3004564470ns10:Originalns5:NetGoodwill2022-06-3004564470ns10:Originalns5:PlantMachinery2022-06-3004564470ns10:Originalns5:FurnitureFittings2022-06-3004564470ns10:Originalns5:MotorVehicles2022-06-3004564470ns10:Original2022-06-3004564470ns10:Originalns5:PlantMachinery2023-06-3004564470ns10:Originalns5:FurnitureFittings2023-06-3004564470ns10:Originalns5:MotorVehicles2023-06-3004564470ns10:Originalns5:PlantMachinery2022-06-3004564470ns10:Originalns5:FurnitureFittings2022-06-3004564470ns10:Originalns5:MotorVehicles2022-06-3004564470ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3004564470ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3004564470ns10:Originalns10:OrdinaryShareClass12023-06-30
REGISTERED NUMBER: 04564470 (England and Wales)















Financial Statements

for the Year Ended 30 June 2023

for

KNIGHT SOUND & LIGHT LTD

KNIGHT SOUND & LIGHT LTD (REGISTERED NUMBER: 04564470)

Contents of the Financial Statements
for the year ended 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KNIGHT SOUND & LIGHT LTD

Company Information
for the year ended 30 June 2023







Director: Mr K Loosley





Registered office: 98-100 Uxbridge Road
London
W7 3SU





Registered number: 04564470 (England and Wales)





Accountants: Haines Watts North London LLP
3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

KNIGHT SOUND & LIGHT LTD (REGISTERED NUMBER: 04564470)

Balance Sheet
30 June 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 4 10,500 14,000
Tangible assets 5 7,677 7,942
18,177 21,942

Current assets
Stocks 156,500 120,000
Debtors 6 86,040 64,020
Cash at bank and in hand 215,441 176,531
457,981 360,551
Creditors
Amounts falling due within one year 7 206,605 185,199
Net current assets 251,376 175,352
Total assets less current liabilities 269,553 197,294

Creditors
Amounts falling due after more than one year 8 24,186 33,830
Net assets 245,367 163,464

Capital and reserves
Called up share capital 9 4 4
Retained earnings 245,363 163,460
Shareholders' funds 245,367 163,464

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

KNIGHT SOUND & LIGHT LTD (REGISTERED NUMBER: 04564470)

Balance Sheet - continued
30 June 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 March 2024 and were signed by:





Mr K Loosley - Director


KNIGHT SOUND & LIGHT LTD (REGISTERED NUMBER: 04564470)

Notes to the Financial Statements
for the year ended 30 June 2023


1. Statutory information

Knight Sound & Light 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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed off.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

There is estimation uncertainty in calculating stock provision. A full line by line review of stock is carried out at the end of each month. Whilst every attempt is made to ensure that the stock provision is as accurate as possible, there remains a risk that the provision does not match the level of stock which ultimately prove to be obsolete.

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 2002, is being amortised evenly over its estimated useful life of twenty 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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

KNIGHT SOUND & LIGHT LTD (REGISTERED NUMBER: 04564470)

Notes to the Financial Statements - continued
for the year ended 30 June 2023


2. Accounting policies - continued

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

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial
recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the
substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 7 (2022 - 6 ) .

KNIGHT SOUND & LIGHT LTD (REGISTERED NUMBER: 04564470)

Notes to the Financial Statements - continued
for the year ended 30 June 2023


4. Intangible fixed assets
Goodwill
£
Cost
At 1 July 2022
and 30 June 2023 70,000
Amortisation
At 1 July 2022 56,000
Amortisation for year 3,500
At 30 June 2023 59,500
Net book value
At 30 June 2023 10,500
At 30 June 2022 14,000

5. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£ £ £ £
Cost
At 1 July 2022 13,719 5,044 35,317 54,080
Additions - 2,108 - 2,108
At 30 June 2023 13,719 7,152 35,317 56,188
Depreciation
At 1 July 2022 12,328 4,778 29,032 46,138
Charge for year 209 593 1,571 2,373
At 30 June 2023 12,537 5,371 30,603 48,511
Net book value
At 30 June 2023 1,182 1,781 4,714 7,677
At 30 June 2022 1,391 266 6,285 7,942

6. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 58,289 35,112
Other debtors 27,751 28,908
86,040 64,020

KNIGHT SOUND & LIGHT LTD (REGISTERED NUMBER: 04564470)

Notes to the Financial Statements - continued
for the year ended 30 June 2023


7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 10,648 10,648
Finance leases 468 2,861
Trade creditors 97,178 41,850
Taxation and social security 32,791 25,444
Other creditors 65,520 104,396
206,605 185,199

8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans 24,186 33,612
Finance leases - 218
24,186 33,830

9. Called up share capital

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