2023-07-012024-06-302024-06-30false13445066James Knight Interiors 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James Knight Interiors Ltd

Registered Number
13445066
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

James Knight Interiors Ltd
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

J Knight

Registered Address

Unit 4 Hills Barns Manor Farm Yard
Upton Grey
Basingstoke
RG25 2RQ

Registered Number

13445066 (England and Wales)
James Knight Interiors Ltd
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets381,89648,404
81,89648,404
Current assets
Stocks12,00018,500
Debtors4109,20156,861
Cash at bank and on hand74,51219,948
195,71395,309
Creditors amounts falling due within one year5(158,472)(103,520)
Net current assets (liabilities)37,241(8,211)
Total assets less current liabilities119,13740,193
Creditors amounts falling due after one year6(8,500)(14,500)
Provisions for liabilities(14,443)(7,842)
Net assets96,19417,851
Capital and reserves
Called up share capital1010
Profit and loss account96,18417,841
Shareholders' funds96,19417,851
The financial statements were approved and authorised for issue by the Director on 12 March 2025, and are signed on its behalf by:
J Knight
Director
Registered Company No. 13445066
James Knight Interiors Ltd
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
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.
Functional and presentation currency
The presentation currency of the financial statements is the Pound Sterling (£).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Current 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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Straight line (years)
Plant and machinery4
Fixtures and fittings4
Vehicles4
Office Equipment4
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities. Financial assets are measured at amortised cost and comprise of cash and cash equivalents and trade and other debtors. Financial liabilities are measured at amortised cost and comprise of trade and other creditors.
2.Average number of employees

20242023
Average number of employees during the year85
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 July 2378,004
Additions61,374
At 30 June 24137,123
Depreciation and impairment
At 01 July 2329,600
Charge for year27,882
At 30 June 2455,226
Net book value
At 30 June 2481,896
At 30 June 2348,404
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables51,0568,361
Other debtors145-
Prepayments and accrued income58,00048,500
Total109,20156,861
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables36,34324,723
Bank borrowings and overdrafts6,0006,000
Taxation and social security53,10419,550
Other creditors49,83248,002
Accrued liabilities and deferred income13,1935,245
Total158,472103,520
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts8,50014,500
Total8,50014,500