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REGISTERED NUMBER: 12161349 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Kight Limited

Kight Limited (Registered number: 12161349)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


Kight Limited (Registered number: 12161349)

Abridged Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 380 570

CURRENT ASSETS
Stocks 157,023 299,816
Debtors 527,811 419,649
Cash at bank 10,684 14,130
695,518 733,595
CREDITORS
Amounts falling due within one year 173,201 338,555
NET CURRENT ASSETS 522,317 395,040
TOTAL ASSETS LESS CURRENT
LIABILITIES

522,697

395,610

CREDITORS
Amounts falling due after more than
one year

414,354

189,891
NET ASSETS 108,343 205,719

CAPITAL AND RESERVES
Called up share capital 115 103
Share premium 5 977,470 299,982
Other reserves 5 50,000 442,500
Retained earnings 5 (919,242 ) (536,866 )
108,343 205,719

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Kight Limited (Registered number: 12161349)

Abridged Balance Sheet - continued
31 August 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2024 and were signed on its behalf by:





Mr L M Fagg - Director


Kight Limited (Registered number: 12161349)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Kight Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12161349

Registered office: 26 Sansome Walk
Worcester
Worcestershire
WR1 1LX

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.
Plant and machinery - 20% on cost

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 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.


Kight Limited (Registered number: 12161349)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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.

Going concern
These financial statements have been drawn up on the going concern basis. If the going concern basis were not appropriate adjustments would have to be made to reduce assets to recoverable amounts, to provide for any further liabilities that might arise and to re-classify fixed assets as current assets and long term liabilities as current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2023
and 31 August 2024 950
DEPRECIATION
At 1 September 2023 380
Charge for year 190
At 31 August 2024 570
NET BOOK VALUE
At 31 August 2024 380
At 31 August 2023 570

Kight Limited (Registered number: 12161349)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. RESERVES
Retained Share Other
earnings premium reserves Totals
£    £    £    £   

At 1 September 2023 (536,866 ) 299,982 442,500 205,616
Deficit for the year (382,376 ) (382,376 )
Cash share issue - 677,488 - 677,488
Other reserves - - (392,500 ) (392,500 )
At 31 August 2024 (919,242 ) 977,470 50,000 108,228

Other reserves relate to funds introduced into the company in lieu of a future share issue.

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24 31.8.23
£    £   
Mr L M Fagg
Balance outstanding at start of year 115,876 9,219
Amounts advanced 185,007 115,876
Amounts repaid (115,876 ) (9,219 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 185,007 115,876

The directors loan was repaid within 9 months of the year end.

Loan interest has been charged at 2.25%