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Registered number: 9180431
Knights Fashion Agencies Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2023
Andrew Clift
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 9180431
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 33,910 38,622
33,910 38,622
CURRENT ASSETS
Debtors 6 74,700 79,310
Cash at bank and in hand 254,984 215,804
329,684 295,114
Creditors: Amounts Falling Due Within One Year 7 (32,663 ) (21,793 )
NET CURRENT ASSETS (LIABILITIES) 297,021 273,321
TOTAL ASSETS LESS CURRENT LIABILITIES 330,931 311,943
NET ASSETS 330,931 311,943
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 330,929 311,941
SHAREHOLDERS' FUNDS 330,931 311,943
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Page 2
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Amanda Booth
Director
28/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Knights Fashion Agencies Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 9180431 . The registered office is 106 Scot Lane, Aspull, Wigan, WN2 1YL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 20% Reducing Balance
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 1 1
1 1
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4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2022 1,000
As at 31 August 2023 1,000
Amortisation
As at 1 September 2022 1,000
As at 31 August 2023 1,000
Net Book Value
As at 31 August 2023 -
As at 1 September 2022 -
5. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2022 41,458 20,000 11,589 2,242 75,289
Additions - - - 1,041 1,041
As at 31 August 2023 41,458 20,000 11,589 3,283 76,330
Depreciation
As at 1 September 2022 11,401 17,991 5,728 1,547 36,667
Provided during the period 4,146 502 879 226 5,753
As at 31 August 2023 15,547 18,493 6,607 1,773 42,420
Net Book Value
As at 31 August 2023 25,911 1,507 4,982 1,510 33,910
As at 1 September 2022 30,057 2,009 5,861 695 38,622
6. Debtors
2023 2022
£ £
Due within one year
Other debtors 5,000 -
TAS (Swinton) Ltd 15,000 15,000
S & A Properties Ltd 54,700 63,100
VAT - 1,210
74,700 79,310
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 6,744 5,136
Corporation tax 21,005 13,560
Other taxes and social security 72 15
VAT 1,212 -
Other creditors 1,371 1,371
Accruals and deferred income 1,440 1,440
Director's loan account 819 271
32,663 21,793
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
9. Directors Advances, Credits and Guarantees
Dividends paid to directors
10. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid 58,000 45,000
11. Ultimate Controlling Party
The company's ultimate controlling party is Mrs Amanda Booth by virtue of her ownership of 100% of the issued share capital in the company.
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