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REGISTERED NUMBER: 06565412 (England and Wales)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

STAFFS KNOT LTD

STAFFS KNOT LTD (Registered number: 06565412)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


STAFFS KNOT LTD

Company Information
for the Year Ended 31 March 2024







DIRECTOR: S GITTUS





SECRETARY:





REGISTERED OFFICE: STAFFORDSHIRE KNOT
PINFOLD STREET
WEDNESBURY
WS10 8TE





REGISTERED NUMBER: 06565412 (England and Wales)






STAFFS KNOT LTD (Registered number: 06565412)

Report of the Director
for the Year Ended 31 March 2024

The director presents his report with the financial statements of the company for the year ended 31 March 2024.

DIRECTOR
S GITTUS held office during the whole of the period from 1 April 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S GITTUS - Director


1 April 2024

STAFFS KNOT LTD (Registered number: 06565412)

Income Statement
for the Year Ended 31 March 2024

31/3/24 31/3/23
£    £   

TURNOVER 70,094 84,117

Cost of sales 55,864 68,057
GROSS PROFIT 14,230 16,060

Administrative expenses 11,130 11,244
OPERATING PROFIT 3,100 4,816

Interest receivable and similar income 318 -
PROFIT BEFORE TAXATION 3,418 4,816

Tax on profit 649 815
PROFIT FOR THE FINANCIAL YEAR 2,769 4,001

STAFFS KNOT LTD (Registered number: 06565412)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £   
CURRENT ASSETS
Stocks 1,450 3,500
Cash at bank and in hand 24,021 19,368
25,471 22,868
CREDITORS
Amounts falling due within one year 4 11,083 11,249
NET CURRENT ASSETS 14,388 11,619
TOTAL ASSETS LESS CURRENT LIABILITIES 14,388 11,619

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 14,387 11,618
SHAREHOLDERS' FUNDS 14,388 11,619

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 1 April 2024 and were signed by:





S GITTUS - Director


STAFFS KNOT LTD (Registered number: 06565412)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

STAFFS KNOT 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.

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.

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

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 1 ) .

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 6 6
Tax 649 815
Directors' current accounts 10,428 10,428
11,083 11,249