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REGISTERED NUMBER: 00386921 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

R E KNOWLES LIMITED

R E KNOWLES LIMITED (REGISTERED NUMBER: 00386921)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R E KNOWLES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mr F E Smith Junior
Mr R A Bailey





SECRETARY: Mr F E Smith Junior





REGISTERED OFFICE: c/o H & E Smith Limited
Britannic Works
Broom Street, Hanley
Stoke-on-Trent
Staffordshire
ST1 2ER





REGISTERED NUMBER: 00386921 (England and Wales)





ACCOUNTANT: Wynniatt-Husey Ltd
Chartered Accountants
The Old Coach House
Horsefair
Rugeley
Staffordshire
WS15 2EL

R E KNOWLES LIMITED (REGISTERED NUMBER: 00386921)

BALANCE SHEET
29 FEBRUARY 2024

28.2.23 29.2.24
£    £    Notes £    £   
FIXED ASSETS
94,893 Tangible assets 4 91,726
1,895,046 Investments 5 1,804,315
2,340,000 Investment property 6 3,110,822
4,329,939 5,006,863

CURRENT ASSETS
500 Stocks 7 500
144,942 Debtors 8 87,265
1,145,758 Cash at bank 199,336
1,291,200 287,101
CREDITORS
103,749 Amounts falling due within one year 9 80,507
1,187,451 NET CURRENT ASSETS 206,594
5,517,390 TOTAL ASSETS LESS CURRENT
LIABILITIES

5,213,457

1,227 PROVISIONS FOR LIABILITIES 10 1,291
5,516,163 NET ASSETS 5,212,166

CAPITAL AND RESERVES
11,800 Called up share capital 11 10,803
2,816,452 Revaluation reserve 12 2,814,208
2,687,911 Retained earnings 2,387,155
5,516,163 SHAREHOLDERS' FUNDS 5,212,166

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

R E KNOWLES LIMITED (REGISTERED NUMBER: 00386921)

BALANCE SHEET - continued
29 FEBRUARY 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 13 November 2024 and were signed on its behalf by:





Mr F E Smith - Director


R E KNOWLES LIMITED (REGISTERED NUMBER: 00386921)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

R E Knowles 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land - No depreciation is charged on land
Buildings - 4% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.

Fixed asset investments
Investments held as fixed assets are stated at cost less any provisions for impairment. Investments are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable. Impairments are calculated such that the carrying value of the fixed asset investment is the lower of its cost or recoverable amount. Recoverable amount is the higher of its net realisable value and its value-in-use.

R E KNOWLES LIMITED (REGISTERED NUMBER: 00386921)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Deferred income
Deferred income represents revenues collected but not earned as at the accounting reference date. It primarily comprises of revenue from rental income. When it is earned it is then credited to the profit and loss account.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Totals Land Buildings
£    £    £   
COST OR VALUATION
At 1 March 2023
and 29 February 2024 202,462 41,569 73,431
DEPRECIATION
At 1 March 2023 107,569 - 26,564
Charge for year 3,167 - 1,875
At 29 February 2024 110,736 - 28,439
NET BOOK VALUE
At 29 February 2024 91,726 41,569 44,992
At 28 February 2023 94,893 41,569 46,867

Fixtures
Plant and and Computer
machinery fittings equipment
£    £    £   
COST OR VALUATION
At 1 March 2023
and 29 February 2024 64,191 16,651 6,620
DEPRECIATION
At 1 March 2023 63,805 10,687 6,513
Charge for year 77 1,193 22
At 29 February 2024 63,882 11,880 6,535
NET BOOK VALUE
At 29 February 2024 309 4,771 85
At 28 February 2023 386 5,964 107

Cost or valuation at 29 February 2024 is represented by:

Totals Land Buildings
£    £    £   
Valuation in 2012 115,000 41,569 73,431
Cost 87,462 - -
202,462 41,569 73,431

R E KNOWLES LIMITED (REGISTERED NUMBER: 00386921)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS - continued

Fixtures
Plant and and Computer
machinery fittings equipment
£    £    £   

Cost 64,191 16,651 6,620
64,191 16,651 6,620

If land and buildings had not been revalued they would have been included at the following historical cost:

29.2.24 28.2.23
£    £   
Cost 41,451 41,451
Aggregate depreciation 21,487 21,487

Value of land in freehold land and buildings 14,984 14,984

Buildings were valued on an open market basis on 12 July 2012 by Andrew Dippnall (Frank Marshall LLP) BSc .

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 March 2023 1,895,046
Additions 257,516
Disposals (346,002 )
Revaluations 11,175
Impairments (13,420 )
At 29 February 2024 1,804,315
NET BOOK VALUE
At 29 February 2024 1,804,315
At 28 February 2023 1,895,046

Cost or valuation at 29 February 2024 is represented by:

Other
investments
£   
Valuation in 2024 1,804,315

R E KNOWLES LIMITED (REGISTERED NUMBER: 00386921)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 2,340,000
Additions 770,822
At 29 February 2024 3,110,822
NET BOOK VALUE
At 29 February 2024 3,110,822
At 28 February 2023 2,340,000

The directors are of the belief that the current market value is not less than the 2012 valuation.

7. STOCKS
29.2.24 28.2.23
£    £   
Stock 500 500

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 68,571 132,442
VAT 6,194 -
Prepayments 12,500 12,500
87,265 144,942

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors (30,877 ) 1,962
Tax 48,183 36,614
Social security and other taxes 937 1,248
Wages control 1,250 1,379
VAT - 2,326
Accrued expenses 4,070 3,700
Deferred income 56,944 56,520
80,507 103,749

10. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax
Accelerated capital allowances 1,291 1,227

R E KNOWLES LIMITED (REGISTERED NUMBER: 00386921)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 March 2023 1,227
Deferred tax movement 64
Balance at 29 February 2024 1,291

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
10,803 Ordinary £1 10,803 11,800
(28.2.23 - 16,000 )

12. RESERVES
Revaluation
reserve
£   
At 1 March 2023 2,816,452
Revaluation (2,244 )

At 29 February 2024 2,814,208