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REGISTERED NUMBER: 02575589 (England and Wales)


















J.J. & M.D. Knight Limited

Unaudited Financial Statements

for the Year Ended 31st December 2023






J.J. & M.D. Knight Limited (Registered number: 02575589)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J.J. & M.D. Knight Limited

Company Information
for the Year Ended 31st December 2023







DIRECTOR: A H G Atkinson





REGISTERED OFFICE: 12 Bridgford Road
West Bridgford
Nottingham
Nottinghamshire
NG2 6AB





REGISTERED NUMBER: 02575589 (England and Wales)





ACCOUNTANTS: Brooks Mayfield Limited
Chartered Accountants
12 Bridgford Road
West Bridgford
Nottinghamshire
NG2 6AB

J.J. & M.D. Knight Limited (Registered number: 02575589)

Balance Sheet
31st December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 6,788 7,231

CURRENT ASSETS
Stocks 102 216
Debtors 6 1,470 9,429
Cash at bank 62,289 24,491
63,861 34,136
CREDITORS
Amounts falling due within one year 7 (18,976 ) (13,865 )
NET CURRENT ASSETS 44,885 20,271
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,673

27,502

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 51,671 27,500
SHAREHOLDERS' FUNDS 51,673 27,502

J.J. & M.D. Knight Limited (Registered number: 02575589)

Balance Sheet - continued
31st December 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 16th September 2024 and were signed by:





A H G Atkinson - Director


J.J. & M.D. Knight Limited (Registered number: 02575589)

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

1. STATUTORY INFORMATION

J.J. & M.D. Knight 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is provided at the fair value of the consideration receivable for goods supplied, net of discounts and Value Added Tax, and is derived from the manufacture and supply of carbon fibre and composites.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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 - 25% on reducing balance
Motor vehicles - 25% 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 Statement of Income and Retained Earnings, 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.


J.J. & M.D. Knight Limited (Registered number: 02575589)

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

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st January 2023 38,528 12,800 51,328
Additions 1,820 - 1,820
At 31st December 2023 40,348 12,800 53,148
DEPRECIATION
At 1st January 2023 38,000 6,097 44,097
Charge for year 587 1,676 2,263
At 31st December 2023 38,587 7,773 46,360
NET BOOK VALUE
At 31st December 2023 1,761 5,027 6,788
At 31st December 2022 528 6,703 7,231

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 8,866
Other debtors 1,470 563
1,470 9,429

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,586 76
Taxation and social security 12,203 7,674
Other creditors 3,187 6,115
18,976 13,865

J.J. & M.D. Knight Limited (Registered number: 02575589)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary 1 2 2