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REGISTERED NUMBER: 03337373 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

FOR

KNOT BUILDERS LTD

KNOT BUILDERS LTD (REGISTERED NUMBER: 03337373)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KNOT BUILDERS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 5 APRIL 2024







DIRECTOR: D C Jackson





SECRETARY: D C Jackson





REGISTERED OFFICE: Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ





REGISTERED NUMBER: 03337373 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

KNOT BUILDERS LTD (REGISTERED NUMBER: 03337373)

BALANCE SHEET
5 APRIL 2024

5.4.24 5.4.23
Notes £    £   
CURRENT ASSETS
Debtors 4 8,464,358 8,572,358
Cash at bank 101,840 25,366
8,566,198 8,597,724
CREDITORS
Amounts falling due within one year 5 20,758 9,118
NET CURRENT ASSETS 8,545,440 8,588,606
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,545,440

8,588,606

CREDITORS
Amounts falling due after more than one
year

6

8,039,584

8,039,584
NET ASSETS 505,856 549,022

CAPITAL AND RESERVES
Called up share capital 8 1,000,010 1,000,010
Retained earnings (494,154 ) (450,988 )
SHAREHOLDERS' FUNDS 505,856 549,022

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2024 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 19 November 2024 and were signed by:



D C Jackson - Director


KNOT BUILDERS LTD (REGISTERED NUMBER: 03337373)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

1. STATUTORY INFORMATION

Knot Builders Ltd 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.

Going Concern
The company is liable for the 2015/16 CITB levy of £7,964,584. As disclosed in note 4 to the accounts the company has also brought in a corresponding grant claim for the same period for £8,464,230. The company took their case to judicial review in March 2023 and received a successful decision regarding grant entitlement, however, the quantum and time period remains under appeal. A new hearing is scheduled for 30 November 2024. Due to the fact that the levy will not be paid until the grant claim has been fully finalised, the director considers that the going concern basis of accounting remains appropriate.

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.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS
5.4.24 5.4.23
£    £   
Amounts falling due within one year:
Amounts owed by associates - 108,000
Other debtors 128 128
128 108,128

KNOT BUILDERS LTD (REGISTERED NUMBER: 03337373)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2024

4. DEBTORS - continued
5.4.24 5.4.23
£    £   
Amounts falling due after more than one year:
Prepayments and accrued income 8,464,230 8,464,230

Aggregate amounts 8,464,358 8,572,358

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.24 5.4.23
£    £   
VAT 15,360 3,817
Directors' current accounts 2,203 2,203
Accrued expenses 3,195 3,098
20,758 9,118

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
5.4.24 5.4.23
£    £   
Other creditors 7,964,584 7,964,584
Directors' debenture 75,000 75,000
8,039,584 8,039,584

7. SECURED DEBTS

The following secured debts are included within creditors:

5.4.24 5.4.23
£    £   
Directors' debenture 75,000 75,000

The Directors' debenture is secured by fixed and floating charges over the assets of the company.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 5.4.24 5.4.23
value: £    £   
1,000,000 Ordinary £1 1,000,000 1,000,000
7 Ordinary A £1 7 7
1 Ordinary B £1 1 1
2 Ordinary C £1 2 2
1,000,010 1,000,010

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D C Jackson.