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Registration number: 03269717

Knight Building Contractors Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Knight Building Contractors Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Knight Building Contractors Limited

(Registration number: 03269717)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

46,666

46,914

Current assets

 

Stocks

200

200

Debtors

6

309,385

324,468

Cash at bank and in hand

 

628,094

525,920

 

937,679

850,588

Creditors: Amounts falling due within one year

7

(406,932)

(378,749)

Net current assets

 

530,747

471,839

Total assets less current liabilities

 

577,413

518,753

Provisions for liabilities

(7,142)

(6,922)

Net assets

 

570,271

511,831

Capital and reserves

 

Called up share capital

10

3,000

3,000

Retained earnings

567,271

508,831

Shareholders' funds

 

570,271

511,831

 

Knight Building Contractors Limited

(Registration number: 03269717)
Balance Sheet as at 31 October 2024

For the financial year ending 31 October 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 April 2025
 

.........................................
Mr M J Peck
Company secretary and director

 

Knight Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

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

The address of its registered office is:
Brail Buildings Jockey Green
Great Bedwyn
Marlborough
Wiltshire
SN8 3NA
United Kingdom

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.

The financial statements are presented in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Revenue recognition

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

Contract revenue recognition

Revenue from contracts for the provision of contracting services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Government grants

Government grants are accounted for as revenue based grants under the accrual model in the period in which they are receivable.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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.

 

Knight Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

15% to 30% straight line

Motor vehicles

30% straight line or term of finance lease

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, and has now been fully amortised.

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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Rental income from operating leases is recognised on a straight line basis over the term of the relevantlease. Initial direct costs incurredin negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

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.

 

Knight Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

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.

Defined contribution pension obligation

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.

Employee benefits

The costs of short term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2023 - 11).

 

Knight Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2023

19,187

19,187

At 31 October 2024

19,187

19,187

Amortisation

At 1 November 2023

19,187

19,187

At 31 October 2024

19,187

19,187

Carrying amount

At 31 October 2024

-

-

5

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

37,818

122,997

160,815

Additions

732

22,234

22,966

Disposals

(1,997)

(33,750)

(35,747)

At 31 October 2024

36,553

111,481

148,034

Depreciation

At 1 November 2023

31,394

82,506

113,900

Charge for the year

1,368

14,547

15,915

Eliminated on disposal

(1,447)

(27,000)

(28,447)

At 31 October 2024

31,315

70,053

101,368

Carrying amount

At 31 October 2024

5,238

41,428

46,666

At 31 October 2023

6,423

40,491

46,914

 

Knight Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

255,250

241,025

Prepayments

14,209

12,301

Other debtors

39,926

71,142

 

309,385

324,468

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

148,799

69,523

Amounts owed to related parties

8

7,349

946

Taxation and social security

 

183,306

214,854

Other creditors

 

67,478

93,426

 

406,932

378,749

8

Related party transactions

Transactions with directors

The company paid rent to the director of £7,200 (2023 £7,200).
 

Summary of transactions with parent

Dividends amounting to £200,000 (2023 £305,000) were paid to the Matthew Pack Construction Ltd (the parent company).

Matthew Peck Construction Ltd has a loan with the company. At the balance sheet date the amount owed was £7,349 (2023 £946).

9

Parent and ultimate parent undertaking

The company's immediate parent is Matthew Peck Construction Ltd, incorporated in England and Wales: Registered Number 10078441. The registered office is Brail Buildings, Jockey Green, Great Bedwyn, Marlborough SN8 3NA.

 

 

Knight Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

3,000

3,000

3,000

3,000