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REGISTERED NUMBER: 04804864 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

KNITWIRE LIMITED

KNITWIRE LIMITED (REGISTERED NUMBER: 04804864)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


KNITWIRE LIMITED (REGISTERED NUMBER: 04804864)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6 -
Tangible assets 5 1,594,714 23,403
1,594,720 23,403

CURRENT ASSETS
Stocks 337,760 -
Debtors 6 279,536 744,985
Cash at bank and in hand 285,444 189,278
902,740 934,263
CREDITORS
Amounts falling due within one year 7 1,838,265 243,037
NET CURRENT (LIABILITIES)/ASSETS (935,525 ) 691,226
TOTAL ASSETS LESS CURRENT
LIABILITIES

659,195

714,629

PROVISIONS FOR LIABILITIES 203,216 5,851
NET ASSETS 455,979 708,778

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 455,879 708,678
SHAREHOLDERS' FUNDS 455,979 708,778

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.

KNITWIRE LIMITED (REGISTERED NUMBER: 04804864)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:





Mr S M Forber - Director


KNITWIRE LIMITED (REGISTERED NUMBER: 04804864)

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


1. STATUTORY INFORMATION

Knitwire Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04804864

Registered office: Maspro House
Chadwick Road
Astmoor Industrial Estate
Runcorn
Cheshire
WA7 1PW

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 represents net invoiced sales of goods, excluding value added tax, and is recognised when goods are despatched to customers.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of seven 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - at varying rates on cost
Plant and machinery - at variable rates on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


KNITWIRE LIMITED (REGISTERED NUMBER: 04804864)

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 7
At 30 April 2024 7
AMORTISATION
Charge for year 1
At 30 April 2024 1
NET BOOK VALUE
At 30 April 2024 6

KNITWIRE LIMITED (REGISTERED NUMBER: 04804864)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2023 19,465 18,550 1,274
Additions 756,000 809,356 27,488
Disposals - - -
At 30 April 2024 775,465 827,906 28,762
DEPRECIATION
At 1 May 2023 5,840 9,864 416
Charge for year 9,604 17,843 4,251
At 30 April 2024 15,444 27,707 4,667
NET BOOK VALUE
At 30 April 2024 760,021 800,199 24,095
At 30 April 2023 13,625 8,686 858

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 - 3,478 42,767
Additions 18,234 5,410 1,616,488
Disposals (9,386 ) - (9,386 )
At 30 April 2024 8,848 8,888 1,649,869
DEPRECIATION
At 1 May 2023 - 3,244 19,364
Charge for year 2,212 1,881 35,791
At 30 April 2024 2,212 5,125 55,155
NET BOOK VALUE
At 30 April 2024 6,636 3,763 1,594,714
At 30 April 2023 - 234 23,403

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 265,591 683,402
Other debtors 13,945 61,583
279,536 744,985

KNITWIRE LIMITED (REGISTERED NUMBER: 04804864)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 164,245 166,948
Taxation and social security 23,205 25,589
Other creditors 1,650,815 50,500
1,838,265 243,037

8. RELATED PARTY DISCLOSURES

During the year, the company acquired the assets of a business owned by one of the directors. The assets comprised property, plant and machinery, goodwill, stock and book debts. The total purchase price was £912,962.

At the balance sheet date, one of the directors is owed £906,679 from the company. This loan is non-interest bearing.

At the balance sheet date the company owed £689,226 to a company under control. No interest was charged on this loan and the balance is repayable at the discretion of the directors.