Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-012falseinvestment company2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08779781 2023-04-01 2024-03-31 08779781 2022-04-01 2023-03-31 08779781 2024-03-31 08779781 2023-03-31 08779781 c:Director2 2023-04-01 2024-03-31 08779781 d:CurrentFinancialInstruments 2024-03-31 08779781 d:CurrentFinancialInstruments 2023-03-31 08779781 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08779781 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08779781 d:ShareCapital 2024-03-31 08779781 d:ShareCapital 2023-03-31 08779781 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 08779781 d:RetainedEarningsAccumulatedLosses 2024-03-31 08779781 d:RetainedEarningsAccumulatedLosses 2023-03-31 08779781 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 08779781 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 08779781 c:OrdinaryShareClass1 2023-04-01 2024-03-31 08779781 c:OrdinaryShareClass1 2024-03-31 08779781 c:OrdinaryShareClass1 2023-03-31 08779781 c:FRS102 2023-04-01 2024-03-31 08779781 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08779781 c:FullAccounts 2023-04-01 2024-03-31 08779781 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08779781 2 2023-04-01 2024-03-31 08779781 6 2023-04-01 2024-03-31 08779781 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08779781










H & C (KNIGHTON) LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
H & C (KNIGHTON) LTD
REGISTERED NUMBER: 08779781

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 5 
124,000
124,000

  
124,000
124,000

Current assets
  

Debtors: amounts falling due within one year
 6 
30,433
10,490

Cash at bank and in hand
 7 
2
2

  
30,435
10,492

Creditors: amounts falling due within one year
 8 
(58,681)
(53,730)

Net current liabilities
  
 
 
(28,246)
 
 
(43,238)

Total assets less current liabilities
  
95,754
80,762

  

Net assets
  
95,754
80,762


Capital and reserves
  

Called up share capital 
 10 
2
2

Profit and loss account
 11 
95,752
80,760

  
95,754
80,762


Page 1

 
H & C (KNIGHTON) LTD
REGISTERED NUMBER: 08779781
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 August 2024.




H A Campbell
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
H & C (KNIGHTON) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

H & C (Knighton) Limited, 08779781, is a private company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Ackhill House, Presteigne, Powys, LD8 2ED.
The principal activity of the Company is that of an investment company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
H & C (KNIGHTON) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
H & C (KNIGHTON) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates nor assumption that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
H & C (KNIGHTON) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 April 2023
124,000



At 31 March 2024
124,000





6.


Debtors

2024
2023
£
£


Other debtors
30,276
10,490

Deferred taxation
157
-

30,433
10,490



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2
2

Less: bank overdrafts
(57,447)
(52,451)

(57,445)
(52,449)


Page 6

 
H & C (KNIGHTON) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
57,445
52,451

Corporation tax
-
79

Other creditors
480
480

Accruals and deferred income
756
720

58,681
53,730


The following liabilities were secured:

2024
2023
£
£



Bank overdrafts
57,445
52,451

57,445
52,451

Details of security provided:

The bank overdraft is secured upon the assets of the company.


9.


Deferred taxation




2024


£






Charged to profit or loss
157



At end of year
157

The deferred tax asset is made up as follows:

2024
2023
£
£


Tax losses carried forward
157
-

157
-

Page 7

 
H & C (KNIGHTON) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2



11.


Reserves

Profit and loss account

The profit and loss account represents the accumulated profits of the Company since incorporation less distributions made to shareholders.

 
Page 8