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Registered Number: 06155124
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 March 2024

for

KNIGHT'S PAVING & LANDSCAPING LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 51,759    59,909 
51,759    59,909 
Current assets      
Stocks 4 9,890    39,500 
Debtors 5 45,680    18,496 
Cash at bank and in hand 161    34,479 
55,731    92,475 
Creditors: amount falling due within one year 6 (88,566)   (115,767)
Net current assets (32,835)   (23,292)
 
Total assets less current liabilities 18,924    36,617 
Creditors: amount falling due after more than one year 7 (12,842)   (22,728)
Provisions for liabilities 8 (5,334)   (9,057)
Net assets 748    4,832 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 648    4,732 
Shareholders' funds 748    4,832 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 26 February 2025 and were signed on its behalf by:


-------------------------------
Richard Knight
Director
1
General Information
Knight's Paving & Landscaping Limited is a private company, limited by shares, registered in England and Wales, registration number 06155124, registration address 13 The Close, Norwich, Norfolk, NR1 4DS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Computer Equipment 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 6 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 April 2023 109,333    7,266    116,599 
Additions   728    728 
Disposals    
At 31 March 2024 109,333    7,994    117,327 
Depreciation
At 01 April 2023 51,254    5,436    56,690 
Charge for year 6,879    1,999    8,878 
On disposals    
At 31 March 2024 58,133    7,435    65,568 
Net book values
Closing balance as at 31 March 2024 51,200    559    51,759 
Opening balance as at 01 April 2023 58,079    1,830    59,909 

Computer Equipment Depreciation on disposal
The Computer Equipment has been over-depreciated in prior years, the figure on disposals reflects the adjustment necessary to correct the figure.

4.

Stocks

2024
£
  2023
£
Finished Goods   4,500 
Work in Progress 6,390    35,000 
Stocks 3,500   
9,890    39,500 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 12,098    3,737 
Prepayments & Accrued Income 1,200   
Directors' Current Accounts 32,382    14,759 
45,680    18,496 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 40,987    47,980 
Bank Loans & Overdrafts 9,886    9,886 
Corporation Tax 11,631    5,615 
PAYE & Social Security 2,419   
Other taxes   12,364 
Accrued Expenses   2,000 
Other Creditors 10,618    12,390 
Obligations under HP/Financial Leases   16,365 
Wages & Salaries Control Account 1,401   
VAT 11,624    9,167 
88,566    115,767 
Secured & Unsecured
All bank loans are unsecured.
The obligations under HP are secured.

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 12,842    22,728 
12,842    22,728 
Unsecured Loan
All bank loans are unsecured.

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 9,057   
Charged to Profit & Loss (3,723)   9,057 
5,334    9,057 

2