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Company No: 00786549 (England and Wales)

A.J.KNOWLES LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

A.J.KNOWLES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

A.J.KNOWLES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
A.J.KNOWLES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 250,000 360,000
250,000 360,000
Current assets
Debtors 4 268 9,732
Cash at bank and in hand 284,670 339,762
284,938 349,494
Creditors: amounts falling due within one year 5 ( 46,951) ( 62,436)
Net current assets 237,987 287,058
Total assets less current liabilities 487,987 647,058
Net assets 487,987 647,058
Capital and reserves
Called-up share capital 6 50,750 50,750
Revaluation reserve 0 368,361
Capital redemption reserve 8,250 8,250
Profit and loss account 8 428,987 219,697
Total shareholders' funds 487,987 647,058

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of A.J.Knowles Limited (registered number: 00786549) were approved and authorised for issue by the Board of Directors on 11 April 2025. They were signed on its behalf by:

R J Knowles
Director
A.J.KNOWLES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
A.J.KNOWLES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

A.J.Knowles Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 50 Broad Street, Worcester, WR1 3LR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Vehicles 4 years straight line
Fixtures and fittings 7 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Land and buildings Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 January 2024 400,000 32,690 74,362 507,052
Revaluations ( 110,000) 0 0 ( 110,000)
Disposals 0 ( 32,690) 0 ( 32,690)
At 31 December 2024 290,000 0 74,362 364,362
Accumulated depreciation
At 01 January 2024 40,000 32,690 74,362 147,052
Disposals 0 ( 32,690) 0 ( 32,690)
At 31 December 2024 40,000 0 74,362 114,362
Net book value
At 31 December 2024 250,000 0 0 250,000
At 31 December 2023 360,000 0 0 360,000

4. Debtors

2024 2023
£ £
Trade debtors 89 0
Prepayments and accrued income 0 9,732
Corporation tax 179 0
268 9,732

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 1,812 4,848
Amounts owed to directors 36,139 48,530
Accruals 2,000 1,500
Taxation and social security 0 558
Other creditors 7,000 7,000
46,951 62,436

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
41,750 Ordinary shares of £ 1.00 each 41,750 41,750
9,000 Preference shares of £ 1.00 each 9,000 9,000
50,750 50,750

7. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to directors 36,139 48,530

The loans are interest free with no fixed repayment date. Dividends were declared during the year totalling £46,000 (2023: £50,000).

8. Profit and loss reserve

2024 2023
£ £
Profit and loss account - distributable reserves 170,626 219,697
Profit and loss account - non-distributable reserves 258,361 0
428,987 219,697

The non-distributable element of the profit and loss reserve relates to a fair value adjustment on the company's land and buildings.