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Company registration number: 11927134
Knight Richardson Limited
Unaudited filleted financial statements
30 September 2023
Knight Richardson Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Knight Richardson Limited
Directors and other information
Directors A J Chowdhury
I J Chowdhury
D J Griffiths
C H Boreham
Company number 11927134
Registered office Unit B
131 High Street
Harrogate
HG2 7LL
Business address Unit B
131 High Street
Harrogate
HG2 7LL
Accountants The Barker Partnership Limited
24 High Street
Pateley Bridge
Harrogate
HG3 5JU
Bankers National Westminster Bank plc
1 Market Street
Bradford
BD1 1EG
Knight Richardson Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Knight Richardson Limited
Year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Knight Richardson Limited for the year ended 30 September 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Knight Richardson Limited, as a body, in accordance with the terms of our engagement letter dated 7 February 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Knight Richardson Limited and state those matters that we have agreed to state to the board of directors of Knight Richardson Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Knight Richardson Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Knight Richardson Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Knight Richardson Limited. You consider that Knight Richardson Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Knight Richardson Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The Barker Partnership Limited
Chartered Accountants
24 High Street
Pateley Bridge
Harrogate
HG3 5JU
31 January 2024
Knight Richardson Limited
Statement of financial position
30 September 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 111,934 138,860
_______ _______
111,934 138,860
Current assets
Debtors 6 165,307 91,069
Cash at bank and in hand 875,986 771,744
_______ _______
1,041,293 862,813
Creditors: amounts falling due
within one year 7 ( 278,565) ( 256,825)
_______ _______
Net current assets 762,728 605,988
_______ _______
Total assets less current liabilities 874,662 744,848
Provisions for liabilities ( 28,119) ( 26,384)
_______ _______
Net assets 846,543 718,464
_______ _______
Capital and reserves
Called up share capital 4 4
Profit and loss account 846,539 718,460
_______ _______
Shareholders funds 846,543 718,464
_______ _______
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 31 January 2024 , and are signed on behalf of the board by:
A J Chowdhury I J Chowdhury
Director Director
Company registration number: 11927134
Knight Richardson Limited
Notes to the financial statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit B, 131 High Street, Harrogate, HG2 7LL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any Tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 25 (2022: 19 ).
5. Tangible assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 October 2022 26,308 163,000 189,308
Additions 10,387 - 10,387
_______ _______ _______
At 30 September 2023 36,695 163,000 199,695
_______ _______ _______
Depreciation
At 1 October 2022 9,699 40,750 50,449
Charge for the year 6,749 30,563 37,312
_______ _______ _______
At 30 September 2023 16,448 71,313 87,761
_______ _______ _______
Carrying amount
At 30 September 2023 20,247 91,687 111,934
_______ _______ _______
At 30 September 2022 16,609 122,250 138,859
_______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 43,881 22,349
Other debtors 121,426 68,720
_______ _______
165,307 91,069
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 9,171 2,805
Corporation tax 172,206 150,065
Social security and other taxes 92,202 94,799
Other creditors 4,986 9,156
_______ _______
278,565 256,825
_______ _______