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REGISTERED NUMBER: 04561424 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

KNIGHT WHEELER LIMITED

KNIGHT WHEELER LIMITED (REGISTERED NUMBER: 04561424)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KNIGHT WHEELER LIMITED

COMPANY INFORMATION
for the Year Ended 31 August 2024







DIRECTOR: P M P Heywood





REGISTERED OFFICE: 54 Sun Street
Waltham Abbey
Essex
EN9 1EJ





REGISTERED NUMBER: 04561424 (England and Wales)





ACCOUNTANTS: Knight Wheeler Limited
54 Sun Street
Waltham Abbey
Essex EN9 1EJ

KNIGHT WHEELER LIMITED (REGISTERED NUMBER: 04561424)

BALANCE SHEET
31 August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 234,798 234,798
Tangible assets 5 2,197 2,400
236,995 237,198

CURRENT ASSETS
Debtors 6 201,124 186,017
Cash at bank and in hand 732,543 689,142
933,667 875,159
CREDITORS
Amounts falling due within one year 7 (244,979 ) (272,280 )
NET CURRENT ASSETS 688,688 602,879
TOTAL ASSETS LESS CURRENT
LIABILITIES

925,683

840,077

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 22 22
Retained earnings 925,611 840,005
SHAREHOLDERS' FUNDS 925,683 840,077

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 director acknowledges his 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.

The 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 May 2025 and were signed by:



P M P Heywood - Director


KNIGHT WHEELER LIMITED (REGISTERED NUMBER: 04561424)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Knight Wheeler Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

The financial statements are presented in sterling (£) which is also the functional currency for the company and rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable from the provision of accounting and taxation services, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on cost
Computer equipment - 33% on cost

At each reporting date, property, plant and equipment are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of impairment is recognised immediately in the profit and loss account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


KNIGHT WHEELER LIMITED (REGISTERED NUMBER: 04561424)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
Taxation
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.

Trade and other receivables
Trade and other receivables are measured at transaction price less any impairment unless the arrangement constitutes a financing transaction in which case the transaction is measured at the present value of the future receipts discounted at the prevailing market rate of interest.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 695,698
AMORTISATION
At 1 September 2023
and 31 August 2024 460,900
NET BOOK VALUE
At 31 August 2024 234,798
At 31 August 2023 234,798

KNIGHT WHEELER LIMITED (REGISTERED NUMBER: 04561424)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2023 1,694 36,105 37,799
Additions - 526 526
At 31 August 2024 1,694 36,631 38,325
DEPRECIATION
At 1 September 2023 1,693 33,706 35,399
Charge for year - 729 729
At 31 August 2024 1,693 34,435 36,128
NET BOOK VALUE
At 31 August 2024 1 2,196 2,197
At 31 August 2023 1 2,399 2,400

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 192,772 177,602
Amounts recoverable on contract 7,017 7,438
Prepayments 1,335 977
201,124 186,017

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 21,595 31,566
Trade creditors 218 17,291
Tax 62,555 60,032
Social security and other taxes 799 899
VAT 84,897 84,289
Other creditors 14,384 25,074
Directors' current accounts 55,722 50,032
Accrued expenses 4,809 3,097
244,979 272,280