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REGISTERED NUMBER: 04426892 (England and Wales)

















C & W Knight Limited

Unaudited Financial Statements

for the Year Ended 30 April 2024






C & W Knight Limited (Registered number: 04426892)






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


C & W Knight Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: D M Clark
Mrs N Clark





SECRETARY: D M Clark





REGISTERED OFFICE: 5 High Street
Fenny Compton
Southam
Warwickshire
CV47 2XT





REGISTERED NUMBER: 04426892 (England and Wales)





ACCOUNTANTS: Moffat Gilbert
5 Clarendon Place
Leamington Spa
Warwickshire
CV32 5QL

C & W Knight Limited (Registered number: 04426892)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 90,237 98,514
Investment property 5 520,000 520,000
610,237 618,514

CURRENT ASSETS
Stocks 9,294 11,169
Debtors 6 16,094 45,521
Cash at bank and in hand 4,111 12,881
29,499 69,571
CREDITORS
Amounts falling due within one year 7 226,136 204,670
NET CURRENT LIABILITIES (196,637 ) (135,099 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

413,600

483,415

CREDITORS
Amounts falling due after more than one
year

8

(388,574

)

(397,501

)

PROVISIONS FOR LIABILITIES (21,419 ) (21,419 )
NET ASSETS 3,607 64,495

CAPITAL AND RESERVES
Called up share capital 11 10,000 10,000
Investment property revaluation reserve 12 487,628 487,628
Fair value reserve 12 74,039 74,039
Retained earnings 12 (568,060 ) (507,172 )
SHAREHOLDERS' FUNDS 3,607 64,495

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.

C & W Knight Limited (Registered number: 04426892)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





D M Clark - Director


C & W Knight Limited (Registered number: 04426892)

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

1. STATUTORY INFORMATION

C & W Knight 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Freehold property - at variable rates on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% 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.

C & W Knight Limited (Registered number: 04426892)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 May 2023
and 30 April 2024 126,266 4,117 4,162 348,216 482,761
DEPRECIATION
At 1 May 2023 48,673 3,952 3,865 327,757 384,247
Charge for year 3,057 36 70 5,114 8,277
At 30 April 2024 51,730 3,988 3,935 332,871 392,524
NET BOOK VALUE
At 30 April 2024 74,536 129 227 15,345 90,237
At 30 April 2023 77,593 165 297 20,459 98,514

Included in cost or valuation of land and buildings is freehold land of £ 1,177 (2023 - £ 1,177 ) which is not depreciated.

Cost or valuation at 30 April 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 1993 74,213 - - - 74,213
Valuation in 2001 7,700 - - - 7,700
Valuation in 2011 25,389 - - - 25,389
Cost 18,964 4,117 4,162 348,216 375,459
126,266 4,117 4,162 348,216 482,761

C & W Knight Limited (Registered number: 04426892)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

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

30.4.24 30.4.23
£    £   
Cost 18,964 18,964
Aggregate depreciation 15,613 15,522

Value of land in freehold land and buildings 1,177 1,177

Freehold land and buildings were valued on an open market basis basis on 30 April 2011 by a director, D M Clark .

The freehold land and buildings were purchased in the takeover of C & W Knight Tippers. They had been revalued in prior years and thus it is the revalued amounts that are reflected within these accounts. The directors review the values annually and consider that the commercial values have not significantly changed in the year under review.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 May 2023
and 30 April 2024 25,179
DEPRECIATION
At 1 May 2023 9,049
Charge for year 4,032
At 30 April 2024 13,081
NET BOOK VALUE
At 30 April 2024 12,098
At 30 April 2023 16,130

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 520,000
NET BOOK VALUE
At 30 April 2024 520,000
At 30 April 2023 520,000

C & W Knight Limited (Registered number: 04426892)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. INVESTMENT PROPERTY - continued

The director Mr D M Clark has reviewed the property values held in the accounts and based on lease reviews and advice taken, considers that the market values have remained at £260,000 for each property in the current year.

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2018 20,000
Valuation in 2017 17,000
Valuation in 2016 28,947
Valuation in 2015 142,376
Valuation in 2011 50,000
Valuation in 2001 243,325
Cost 18,352
520,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 5,510 34,010
Prepayments 10,584 11,511
16,094 45,521

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts (see note 9) 5,580 5,332
Trade creditors 29,073 38,872
Social security and other taxes 17,255 3,655
VAT 25,158 21,568
Other creditors 18,296 1,173
C & W Knight (Sales) 109,598 113,152
Directors' current accounts 5,000 5,000
Accrued expenses 16,176 15,918
226,136 204,670

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts (see note 9) 3,824 9,404
C & W Knight (Sales) 384,750 388,097
388,574 397,501

The debt owed to C & W Knight (Sales) has no agreed repayment terms and is secured as detailed below.

C & W Knight Limited (Registered number: 04426892)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.24 30.4.23
£    £   
Gross obligations repayable:
Within one year 5,836 5,836
Between one and five years 3,891 9,727
9,727 15,563

Finance charges repayable:
Within one year 256 504
Between one and five years 67 323
323 827

Net obligations repayable:
Within one year 5,580 5,332
Between one and five years 3,824 9,404
9,404 14,736

Non-cancellable operating leases
30.4.24 30.4.23
£    £   
Within one year 890 891
Between one and five years 891 1,781
1,781 2,672

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
C & W Knight (Sales) account 494,348 501,249

C & W Knight (Sales) secured the above debt by means of a charge dated 31st March 2008 over the freehold land and buildings held by the company. The charge was registered on 6th June 2008.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
10,000 Ordinary £1 10,000 10,000

C & W Knight Limited (Registered number: 04426892)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

12. RESERVES
Investment
property Fair
Retained revaluation value
earnings reserve reserve Totals
£    £    £    £   

At 1 May 2023 (507,172 ) 487,628 74,039 54,495
Deficit for the year (60,888 ) (60,888 )
At 30 April 2024 (568,060 ) 487,628 74,039 (6,393 )

13. RELATED PARTY DISCLOSURES

During the year the company supplied haulage services to C & W Knight (Sales) totalling £170,095 (2023 £195,259) and were supplied with services from that business amounting to £33,319 (2023 £45,007). The two directors who served in the year were also directors of C & W Knight (Sales) and held an interest in that company. The amount owed to C & W Knight (Sales) by the company at 30th April 2024 was £494,348 (2023 £501,249).

14. ULTIMATE CONTROLLING PARTY

The members consider Mr D M Clark to be the ultimate controlling party of the company.