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REGISTERED NUMBER: 06539692 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

KNT Hire & Sales Limited

KNT Hire & Sales Limited (Registered number: 06539692)






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




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


KNT Hire & Sales Limited

Company Information
for the Year Ended 31 March 2024







Directors: Mr. M Kent
Mr D R Dykes





Registered office: 2 Wood Lane
Driffield
East Yorkshire
YO25 6DU





Registered number: 06539692 (England and Wales)





Accountants: Ullyott Limited
6 George Street
Driffield
East Yorkshire
YO25 6RA

KNT Hire & Sales Limited (Registered number: 06539692)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,843 12,008

CURRENT ASSETS
Debtors 5 13,395 20,378
Cash at bank 6,596 12,345
19,991 32,723
CREDITORS
Amounts falling due within one year 6 24,674 37,926
NET CURRENT LIABILITIES (4,683 ) (5,203 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,160

6,805

CREDITORS
Amounts falling due after more than one
year

7

(13,320

)

(3,745

)

PROVISIONS FOR LIABILITIES (4,588 ) (2,282 )
NET ASSETS 252 778

CAPITAL AND RESERVES
Called up share capital 8 103 103
Retained earnings 149 675
SHAREHOLDERS' FUNDS 252 778

KNT Hire & Sales Limited (Registered number: 06539692)

Balance Sheet - continued
31 March 2024


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

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

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 Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





Mr. M Kent - Director


KNT Hire & Sales Limited (Registered number: 06539692)

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

1. STATUTORY INFORMATION

KNT Hire & Sales 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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.

KNT Hire & Sales Limited (Registered number: 06539692)

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

2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 1,475 800 30,664 32,939
Additions - - 20,058 20,058
Disposals - - (11,164 ) (11,164 )
At 31 March 2024 1,475 800 39,558 41,833
DEPRECIATION
At 1 April 2023 1,025 730 19,176 20,931
Charge for year 90 13 7,817 7,920
Eliminated on disposal - - (9,861 ) (9,861 )
At 31 March 2024 1,115 743 17,132 18,990
NET BOOK VALUE
At 31 March 2024 360 57 22,426 22,843
At 31 March 2023 450 70 11,488 12,008

KNT Hire & Sales Limited (Registered number: 06539692)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 19,500
Additions 20,058
At 31 March 2024 39,558
DEPRECIATION
At 1 April 2023 9,750
Charge for year 7,382
At 31 March 2024 17,132
NET BOOK VALUE
At 31 March 2024 22,426
At 31 March 2023 9,750

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,395 20,378

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 5,777 2,365
Trade creditors 464 8,773
Corporation tax 4,913 7,972
VAT 5,285 6,976
Directors' current accounts 6,835 10,540
Accrued expenses 1,400 1,300
24,674 37,926

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts 13,320 3,745

KNT Hire & Sales Limited (Registered number: 06539692)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 Share £1 100 100
1 A Ordinary £1 1 1
1 B Ordinary £1 1 1
1 C Ordinary £1 1 1
103 103

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr. M Kent.