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REGISTERED NUMBER: SC495966 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Knightbain Ltd

Knightbain Ltd (Registered number: SC495966)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Knightbain Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mrs P Bain
Mr M S Bain





REGISTERED OFFICE: 13 Inch Crescent
Bathgate
West Lothian
EH48 1EU





REGISTERED NUMBER: SC495966 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Knightbain Ltd (Registered number: SC495966)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,602 12,303

CURRENT ASSETS
Debtors 5 47,762 70,612
Cash at bank and in hand 22,936 90,545
70,698 161,157
CREDITORS
Amounts falling due within one year 6 24,385 53,964
NET CURRENT ASSETS 46,313 107,193
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,915

119,496

PROVISIONS FOR LIABILITIES - 330
NET ASSETS 51,915 119,166

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 50,915 118,166
SHAREHOLDERS' FUNDS 51,915 119,166

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

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

Knightbain Ltd (Registered number: SC495966)

Balance Sheet - continued
31 January 2024


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 21 August 2024 and were signed on its behalf by:





Mr M S Bain - Director


Knightbain Ltd (Registered number: SC495966)

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

1. STATUTORY INFORMATION

Knightbain Ltd is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 6 ) .

Knightbain Ltd (Registered number: SC495966)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 5,737 12,484 22,481 40,702
Additions 108 - 1,080 1,188
Disposals - (5,344 ) (14,235 ) (19,579 )
At 31 January 2024 5,845 7,140 9,326 22,311
DEPRECIATION
At 1 February 2023 3,874 6,213 18,312 28,399
Charge for year 394 1,005 2,236 3,635
Eliminated on disposal - (3,090 ) (12,235 ) (15,325 )
At 31 January 2024 4,268 4,128 8,313 16,709
NET BOOK VALUE
At 31 January 2024 1,577 3,012 1,013 5,602
At 31 January 2023 1,863 6,271 4,169 12,303

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 47,048 68,601
Other debtors 714 2,011
47,762 70,612

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors - 7,016
Taxation and social security 20,730 43,592
Other creditors 3,655 3,356
24,385 53,964

Knightbain Ltd (Registered number: SC495966)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
Mrs P Bain
Balance outstanding at start of year (4 ) (2 )
Amounts advanced 3,045 2,488
Amounts repaid (3,044 ) (2,490 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3 ) (4 )

Mr M S Bain
Balance outstanding at start of year (4 ) (2 )
Amounts advanced 3,045 2,488
Amounts repaid (3,044 ) (2,490 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3 ) (4 )

8. RELATED PARTY DISCLOSURES

Included in the cost of rent, rates and insurance is a charge of £12,458 (2023 - £10,000) for the rent of office premises owned by the directors' Self Invested Personal Pension.

9. ULTIMATE CONTROLLING PARTY

The company is under control of the directors.