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REGISTERED NUMBER: 04998401 (England and Wales)






















Financial Statements

for the Year Ended 31 December 2023

for

B Knight & Son Limited

B Knight & Son Limited (Registered number: 04998401)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


B Knight & Son Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: H B Knight
J G Knight
Ms H Knight





SECRETARY: Mrs A Knight





REGISTERED OFFICE: 30 Main Road
Langworth
Lincoln
LN3 5BJ





REGISTERED NUMBER: 04998401 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
B Knight & Son Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of B Knight & Son Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of B Knight & Son Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of B Knight & Son Limited and state those matters that we have agreed to state to the Board of Directors of B Knight & Son Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than B Knight & Son Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that B Knight & Son 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 B Knight & Son Limited. You consider that B Knight & Son 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 B Knight & Son 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.






Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG


8 April 2024

B Knight & Son Limited (Registered number: 04998401)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,000 9,000
Tangible assets 5 40,581 33,081
46,581 42,081

CURRENT ASSETS
Stocks 235,412 261,873
Debtors 6 47,046 33,570
Cash at bank and in hand 242,403 254,721
524,861 550,164
CREDITORS
Amounts falling due within one year 7 96,837 113,408
NET CURRENT ASSETS 428,024 436,756
TOTAL ASSETS LESS CURRENT LIABILITIES 474,605 478,837

PROVISIONS FOR LIABILITIES 9,858 6,067
NET ASSETS 464,747 472,770

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 463,747 471,770
SHAREHOLDERS' FUNDS 464,747 472,770

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

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

B Knight & Son Limited (Registered number: 04998401)

Balance Sheet - continued
31 December 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 8 April 2024 and were signed on its behalf by:




H B Knight - Director J G Knight - Director




Ms H Knight - Director


B Knight & Son Limited (Registered number: 04998401)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

B Knight & Son Limited 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.

Goodwill
The directors have reviewed the estimated useful life of goodwill and have concluded that it is 2 years from the end of the accounting period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - not provided
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office and computer equipment - 33% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

B Knight & Son Limited (Registered number: 04998401)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 60,000
AMORTISATION
At 1 January 2023 51,000
Charge for year 3,000
At 31 December 2023 54,000
NET BOOK VALUE
At 31 December 2023 6,000
At 31 December 2022 9,000

5. TANGIBLE FIXED ASSETS
Office
and
Leasehold Plant and Motor computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 1,150 96,873 28,805 668 127,496
Additions - 19,456 - 652 20,108
Disposals - (51,090 ) - - (51,090 )
At 31 December 2023 1,150 65,239 28,805 1,320 96,514
DEPRECIATION
At 1 January 2023 - 77,604 16,418 393 94,415
Charge for year - 5,111 3,097 109 8,317
Eliminated on disposal - (46,799 ) - - (46,799 )
At 31 December 2023 - 35,916 19,515 502 55,933
NET BOOK VALUE
At 31 December 2023 1,150 29,323 9,290 818 40,581
At 31 December 2022 1,150 19,269 12,387 275 33,081

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 33,586 21,429
Other debtors 13,460 12,141
47,046 33,570

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 18,693 36,846
Taxation and social security 51,069 60,904
Other creditors 27,075 15,658
96,837 113,408

B Knight & Son Limited (Registered number: 04998401)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000