Acorah Software Products - Accounts Production 16.1.200 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 03747577 Mr Przemyslaw Winiarczyk Mr Timothy Brooks Mr Russell Knight iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03747577 2023-04-30 03747577 2024-04-30 03747577 2023-05-01 2024-04-30 03747577 frs-core:CurrentFinancialInstruments 2024-04-30 03747577 frs-core:BetweenOneFiveYears 2024-04-30 03747577 frs-core:ComputerEquipment 2024-04-30 03747577 frs-core:ComputerEquipment 2023-05-01 2024-04-30 03747577 frs-core:ComputerEquipment 2023-04-30 03747577 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 03747577 frs-core:FurnitureFittings 2024-04-30 03747577 frs-core:FurnitureFittings 2023-05-01 2024-04-30 03747577 frs-core:FurnitureFittings 2023-04-30 03747577 frs-core:NetGoodwill 2024-04-30 03747577 frs-core:NetGoodwill 2023-05-01 2024-04-30 03747577 frs-core:NetGoodwill 2023-04-30 03747577 frs-core:MotorVehicles 2024-04-30 03747577 frs-core:MotorVehicles 2023-05-01 2024-04-30 03747577 frs-core:MotorVehicles 2023-04-30 03747577 frs-core:OtherResidualIntangibleAssets 2024-04-30 03747577 frs-core:OtherResidualIntangibleAssets 2023-05-01 2024-04-30 03747577 frs-core:OtherResidualIntangibleAssets 2023-04-30 03747577 frs-core:PlantMachinery 2024-04-30 03747577 frs-core:PlantMachinery 2023-05-01 2024-04-30 03747577 frs-core:PlantMachinery 2023-04-30 03747577 frs-core:WithinOneYear 2024-04-30 03747577 frs-core:CapitalRedemptionReserve 2024-04-30 03747577 frs-core:SharePremium 2024-04-30 03747577 frs-core:ShareCapital 2024-04-30 03747577 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 03747577 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03747577 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 03747577 frs-bus:SmallEntities 2023-05-01 2024-04-30 03747577 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 03747577 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03747577 frs-bus:Director1 2023-05-01 2024-04-30 03747577 frs-bus:Director2 2023-05-01 2024-04-30 03747577 frs-bus:Director3 2023-05-01 2024-04-30 03747577 frs-countries:EnglandWales 2023-05-01 2024-04-30 03747577 2022-04-30 03747577 2023-04-30 03747577 2022-05-01 2023-04-30 03747577 frs-core:CurrentFinancialInstruments 2023-04-30 03747577 frs-core:BetweenOneFiveYears 2023-04-30 03747577 frs-core:WithinOneYear 2023-04-30 03747577 frs-core:CapitalRedemptionReserve 2023-04-30 03747577 frs-core:SharePremium 2023-04-30 03747577 frs-core:ShareCapital 2023-04-30 03747577 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 03747577
Knight Electrical Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03747577
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 344 -
Tangible Assets 5 172,875 139,001
173,219 139,001
CURRENT ASSETS
Stocks 183,052 54,337
Debtors 6 397,691 810,869
Cash at bank and in hand 1,015,922 730,601
1,596,665 1,595,807
Creditors: Amounts Falling Due Within One Year 7 (717,327 ) (835,707 )
NET CURRENT ASSETS (LIABILITIES) 879,338 760,100
TOTAL ASSETS LESS CURRENT LIABILITIES 1,052,557 899,101
PROVISIONS FOR LIABILITIES
Deferred Taxation (29,416 ) (24,646 )
NET ASSETS 1,023,141 874,455
CAPITAL AND RESERVES
Called up share capital 255 255
Share premium account 1,137 1,137
Capital redemption reserve 39 39
Profit and Loss Account 1,021,710 873,024
SHAREHOLDERS' FUNDS 1,023,141 874,455
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Przemyslaw Winiarczyk
Director
13 January 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Knight Electrical Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03747577 . The registered office is The Old Workshop, Eaglewood Park, Ilminster, Somerset, TA19 9DQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website development costs. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10-15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 10% reducing balance
Computer Equipment 33% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was 19 (2023: 19)
19 19
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 May 2023 7,000 - 7,000
Additions - 350 350
As at 30 April 2024 7,000 350 7,350
Amortisation
As at 1 May 2023 7,000 - 7,000
Provided during the period - 6 6
As at 30 April 2024 7,000 6 7,006
Net Book Value
As at 30 April 2024 - 344 344
As at 1 May 2023 - - -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 43,823 307,032 4,090 22,662 377,607
Additions 700 78,501 534 6,574 86,309
Disposals - (25,395 ) - - (25,395 )
As at 30 April 2024 44,523 360,138 4,624 29,236 438,521
Depreciation
As at 1 May 2023 23,156 201,852 920 12,678 238,606
Provided during the period 3,203 33,994 384 3,309 40,890
Disposals - (13,850 ) - - (13,850 )
As at 30 April 2024 26,359 221,996 1,304 15,987 265,646
Net Book Value
As at 30 April 2024 18,164 138,142 3,320 13,249 172,875
As at 1 May 2023 20,667 105,180 3,170 9,984 139,001
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Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 377,212 658,134
Prepayments and accrued income 10,611 147,992
Other debtors 9,868 4,743
397,691 810,869
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 47,143 311,974
Corporation tax 142,566 173,607
Other taxes and social security 13,071 12,544
VAT 136,537 115,623
Other creditors 29,084 37,230
Accruals and deferred income 348,639 184,716
Directors' loan accounts 287 13
717,327 835,707
8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 3,080 292
Later than one year and not later than five years 4,363 -
7,443 292
9. Related Party Transactions
A director maintained a loan account with the company. The loan is interest free and repayable on demand. At the balance sheet date the amount due to the director was £287 (2023: £13).
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