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Registration number: 14026302

Knightsgate Roofing Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Knightsgate Roofing Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 12

 

Knightsgate Roofing Limited

Company Information

Director

Mr Luke Thompson

Registered office

590 Green Lanes
London
N13 5RY

Accountants

Thomas Alexander & Co Ltd 590 Green Lanes
Palmers Green
London
N13 5RY

 

Knightsgate Roofing Limited

Director's Report for the Year Ended 30 April 2024

The director presents his report and the financial statements for the year ended 30 April 2024.

Director of the company

The director who held office during the year was as follows:

Mr Luke Thompson

Principal activity

The principal activity of the company is that of a roofing company.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 9 January 2025
 

.........................................
Mr Luke Thompson
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Knightsgate Roofing Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Knightsgate Roofing Limited for the year ended 30 April 2024 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Knightsgate Roofing Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Knightsgate Roofing Limited and state those matters that we have agreed to state to the Board of Directors of Knightsgate Roofing Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Knightsgate Roofing Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Knightsgate Roofing Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Knightsgate Roofing Limited. You consider that Knightsgate Roofing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Knightsgate Roofing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

 

Knightsgate Roofing Limited

Profit and Loss Account for the Year Ended 30 April 2024

Note

2024
£

2023
£

Turnover

 

358,077

313,831

Cost of sales

 

(187,724)

(148,073)

Gross profit

 

170,353

165,758

Administrative expenses

 

(126,665)

(105,577)

Operating profit

 

43,688

60,181

Other interest receivable and similar income

 

78

77

Interest payable and similar expenses

 

(391)

-

   

(313)

77

Profit before tax

4

43,375

60,258

Tax on profit

 

(6,439)

(5,452)

Profit for the financial year

 

36,936

54,806

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Knightsgate Roofing Limited

Statement of Comprehensive Income for the Year Ended 30 April 2024

2024
£

2023
£

Profit for the year

36,936

54,806

Total comprehensive income for the year

36,936

54,806

 

Knightsgate Roofing Limited

(Registration number: 14026302)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

34,684

24,666

Current assets

 

Cash at bank and in hand

 

16,162

8,980

Creditors: Amounts falling due within one year

6

(21,004)

(18,740)

Net current liabilities

 

(4,842)

(9,760)

Net assets

 

29,842

14,906

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

29,742

14,806

Shareholders' funds

 

29,842

14,906

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 9 January 2025
 

.........................................
Mr Luke Thompson
Director

 

Knightsgate Roofing Limited

Statement of Changes in Equity for the Year Ended 30 April 2024

Share capital
£

Retained earnings
£

Total
£

At 1 May 2023

100

14,806

14,906

Profit for the year

-

36,936

36,936

Dividends

-

(22,000)

(22,000)

At 30 April 2024

100

29,742

29,842

Share capital
£

Retained earnings
£

Total
£

Profit for the year

-

54,806

54,806

Dividends

-

(40,000)

(40,000)

New share capital subscribed

100

-

100

At 30 April 2023

100

14,806

14,906

 

Knightsgate Roofing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
590 Green Lanes
London
N13 5RY

These financial statements were authorised for issue by the director on 9 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Knightsgate Roofing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

20% Reducing balance method

Office equipment

15% Reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Knightsgate Roofing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

8,632

6,167

 

Knightsgate Roofing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

-

30,833

30,833

Additions

650

18,000

18,650

At 30 April 2024

650

48,833

49,483

Depreciation

At 1 May 2023

-

6,167

6,167

Charge for the year

98

8,534

8,632

At 30 April 2024

98

14,701

14,799

Carrying amount

At 30 April 2024

552

34,132

34,684

At 30 April 2023

-

24,666

24,666

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

2,842

11,376

Taxation and social security

 

12,234

7,261

Accruals and deferred income

 

3,000

-

Other creditors

 

2,928

103

 

21,004

18,740

 

Knightsgate Roofing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share capital of £1 each

100

100

100

100

       

8

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £220 (2023 - £400) per each Ordinary share capital

22,000

40,000

 

 

9

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

9,100

9,858