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REGISTERED NUMBER: 03303594 (England and Wales)












Unaudited Financial Statements for the Year Ended 30 April 2024

for

Frank Knighton Suite Centres Limited

Frank Knighton Suite Centres Limited (Registered number: 03303594)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Frank Knighton Suite Centres Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: R Knighton
M Knighton
N J Knighton





SECRETARY: Mrs L M Knighton





REGISTERED OFFICE: Critchley Court
Wood Street
Ilkeston
Derbyshire
DE7 8GE





REGISTERED NUMBER: 03303594 (England and Wales)





ACCOUNTANTS: The Profit Key Limited
Prince William House
10 Lower Church Street
Ashby de la Zouch
Leicestershire
LE65 1AB

Frank Knighton Suite Centres Limited (Registered number: 03303594)

Statement of Financial Position
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 308,074 317,662

CURRENT ASSETS
Stocks 629,573 580,960
Debtors 5 72,407 53,378
Cash at bank and in hand 1,066,192 807,341
1,768,172 1,441,679
CREDITORS
Amounts falling due within one year 6 842,400 787,089
NET CURRENT ASSETS 925,772 654,590
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,233,846

972,252

CREDITORS
Amounts falling due after more than one
year

7

(69,705

)

(21,806

)

PROVISIONS FOR LIABILITIES (24,544 ) (10,570 )
NET ASSETS 1,139,597 939,876

CAPITAL AND RESERVES
Called up share capital 9 1,005 1,005
Retained earnings 1,138,592 938,871
SHAREHOLDERS' FUNDS 1,139,597 939,876

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Frank Knighton Suite Centres Limited (Registered number: 03303594)

Statement of Financial Position - continued
30 April 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 20 September 2024 and were signed on its behalf by:





R Knighton - Director


Frank Knighton Suite Centres Limited (Registered number: 03303594)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Frank Knighton Suite Centres 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 4% on cost
Improvements to property - 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Frank Knighton Suite Centres Limited (Registered number: 03303594)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Loans from directors
Any loans from the directors to the company are interest free and repayable on demand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 19 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1 May 2023 370,000 - 83,857
Additions - 53,759 -
Disposals (220,000 ) - -
At 30 April 2024 150,000 53,759 83,857
DEPRECIATION
At 1 May 2023 115,572 - 79,111
Charge for year 6,000 5,376 948
Eliminated on disposal (61,572 ) - -
At 30 April 2024 60,000 5,376 80,059
NET BOOK VALUE
At 30 April 2024 90,000 48,383 3,798
At 30 April 2023 254,428 - 4,746

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 15,746 168,510 8,564 646,677
Additions - 182,527 1,200 237,486
Disposals - (37,001 ) - (257,001 )
At 30 April 2024 15,746 314,036 9,764 627,162
DEPRECIATION
At 1 May 2023 13,218 112,775 8,339 329,015
Charge for year 636 54,370 504 67,834
Eliminated on disposal - (16,189 ) - (77,761 )
At 30 April 2024 13,854 150,956 8,843 319,088
NET BOOK VALUE
At 30 April 2024 1,892 163,080 921 308,074
At 30 April 2023 2,528 55,735 225 317,662

Frank Knighton Suite Centres Limited (Registered number: 03303594)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 29,375 15,475
Related party balances 1,731 -
Prepayments 41,301 37,903
72,407 53,378

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 28,877 9,688
Trade creditors 354,642 355,086
Tax - 39,030
Social security and other taxes 4,207 4,961
VAT 57,678 72,048
Other creditors 344,673 289,397
Directors' current accounts 225 6,431
Accrued expenses 52,098 10,448
842,400 787,089

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 69,705 21,806

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 98,582 31,494

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,005 Ordinary A - F £1 1,005 1,005

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Interest is charged at the average official rate. The loan is repayable on demand.