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REGISTERED NUMBER: 10743990 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

KNIGHTS & HYDE LIMITED

KNIGHTS & HYDE LIMITED (REGISTERED NUMBER: 10743990)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KNIGHTS & HYDE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: P M Berry
R L Adkins





REGISTERED OFFICE: Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA





BUSINESS ADDRESS: 25 Telford Way Industrial Estate
Telford Way
Kettering
Northamptonshire
NN16 8UN





REGISTERED NUMBER: 10743990 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

KNIGHTS & HYDE LIMITED (REGISTERED NUMBER: 10743990)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 22,604 29,288
Tangible assets 5 2,790 3,521
25,394 32,809

CURRENT ASSETS
Stocks 14,839 16,265
Debtors 6 71,214 94,139
Cash at bank and in hand 50 12,397
86,103 122,801
CREDITORS
Amounts falling due within one year 7 196,708 240,116
NET CURRENT LIABILITIES (110,605 ) (117,315 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(85,211

)

(84,506

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (85,311 ) (84,606 )
SHAREHOLDERS' FUNDS (85,211 ) (84,506 )

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.

KNIGHTS & HYDE LIMITED (REGISTERED NUMBER: 10743990)

BALANCE SHEET - 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 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 27 January 2025 and were signed on its behalf by:




P M Berry - Director



R L Adkins - Director


KNIGHTS & HYDE LIMITED (REGISTERED NUMBER: 10743990)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Knights & Hyde 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Computer software was fully disposed in the prior financial year.

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.
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

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.


KNIGHTS & HYDE LIMITED (REGISTERED NUMBER: 10743990)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
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.

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.

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.

Provisions
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

Going concern
Despite the overdrawn balance sheet, the company has the full backing from the shareholder who will continue to support the business. The shareholder and directors have considered the risks and issues concerning the company and its activities and conclude there is no doubt about the company's ability to continue as a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 66,847
AMORTISATION
At 1 May 2023 37,559
Charge for year 6,684
At 30 April 2024 44,243
NET BOOK VALUE
At 30 April 2024 22,604
At 30 April 2023 29,288

KNIGHTS & HYDE LIMITED (REGISTERED NUMBER: 10743990)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 16,490 2,652 19,142
DEPRECIATION
At 1 May 2023 13,495 2,126 15,621
Charge for year 599 132 731
At 30 April 2024 14,094 2,258 16,352
NET BOOK VALUE
At 30 April 2024 2,396 394 2,790
At 30 April 2023 2,995 526 3,521

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 May 2023
and 30 April 2024 16,490
DEPRECIATION
At 1 May 2023 13,495
Charge for year 599
At 30 April 2024 14,094
NET BOOK VALUE
At 30 April 2024 2,396
At 30 April 2023 2,995

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 69,492 92,777
Prepayments and accrued income 1,722 1,362
71,214 94,139

KNIGHTS & HYDE LIMITED (REGISTERED NUMBER: 10743990)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,310 -
Trade creditors 27,560 61,243
Corporation Tax 809 5,841
Social security and other taxes 1,173 1,652
Net Wages 19 19
Pension 316 310
VAT 8,001 6,853
Credit cards 2,041 4,219
Loan - Officeworx 141,934 144,934
Loan - Finn Telecom 10,250 13,250
Accrued expenses 2,295 1,795
196,708 240,116

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
P M Berry
Balance outstanding at start of year - (20,633 )
Amounts advanced 34 20,633
Amounts repaid (34 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

No interest is being charged on the loan and there are no set repayment terms.

9. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption to not prepare group accounts, as it is a small group.
All shares are held by Officeworx Limited, their registered office is Hadley House, Croft Street, Cheltenham, Gloucestershire, GL53 0ED.

At 30 April 2024 Knights and Hyde Limited owed Officeworx Limited £141,934 (2023: £144,934).

At 30 April 2024, the company owed £10,250 to Finn Telecom Limited, (2023 £ 13,250) a company in which P M Berry and Dr R L Adkins are also directors and shareholders.

No interest was charged on the balances and the loans are repayable on demand.