Registered number
04318911
Knightsbridge Investment Company Ltd
Filleted Accounts
31 March 2024
Knightsbridge Investment Company Ltd
Registered number: 04318911
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Stocks 406,829 396,829
Debtors 3 1,585 780
Cash at bank and in hand 14,485 11,735
422,899 409,344
Creditors: amounts falling due within one year 4 (34,061) (34,943)
Net current assets 388,838 374,401
Total assets less current liabilities 388,838 374,401
Creditors: amounts falling due after more than one year 5 (267,613) (267,613)
Net assets 121,225 106,788
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 120,225 105,788
Shareholder's funds 121,225 106,788
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P D Lawrence
Director
Approved by the board on 6 April 2024
Knightsbridge Investment Company Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2024 2023
£ £
Trade debtors 859 766
Other debtors 726 14
1,585 780
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 129 127
Amounts owed to group undertakings and undertakings in which the company has a participating interest 30,000 30,000
Taxation and social security costs 3,338 4,194
Other creditors 594 622
34,061 34,943
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 267,613 267,613
6 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 267,613 267,613
Mortgages secured against properties held in stock.
7 Related party transactions 2024 2023
£ £
PDL Business Solutions Ltd
Immediate parent company
Amount due to the related party 30,000 30,000
8 Controlling party
The company is a wholly owned subsidiary of PDL Business Solutions Ltd, a company registered in England and Wales.
9 Other information
Knightsbridge Investment Company Ltd is a private company limited by shares and incorporated in England. Its registered office is:
40 Broyle Road
Chichester
West Sussex
PO19 6BA
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