IRIS Accounts Production v25.1.4.42 02731315 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh027313152023-12-31027313152024-12-31027313152024-01-012024-12-31027313152022-12-31027313152023-01-012023-12-31027313152023-12-3102731315ns15:EnglandWales2024-01-012024-12-3102731315ns14:PoundSterling2024-01-012024-12-3102731315ns10:Director12024-01-012024-12-3102731315ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3102731315ns10:SmallEntities2024-01-012024-12-3102731315ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3102731315ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3102731315ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3102731315ns10:FullAccounts2024-01-012024-12-3102731315ns10:Director22024-01-012024-12-3102731315ns10:Director32024-01-012024-12-3102731315ns10:CompanySecretary12024-01-012024-12-3102731315ns10:RegisteredOffice2024-01-012024-12-3102731315ns5:CurrentFinancialInstruments2024-12-3102731315ns5:CurrentFinancialInstruments2023-12-3102731315ns5:Non-currentFinancialInstruments2024-12-3102731315ns5:Non-currentFinancialInstruments2023-12-3102731315ns5:ShareCapital2024-12-3102731315ns5:ShareCapital2023-12-3102731315ns5:SharePremium2024-12-3102731315ns5:SharePremium2023-12-3102731315ns5:RetainedEarningsAccumulatedLosses2024-12-3102731315ns5:RetainedEarningsAccumulatedLosses2023-12-3102731315ns5:LandBuildingsns5:OwnedOrFreeholdAssets2024-01-012024-12-3102731315ns5:PlantMachinery2024-01-012024-12-3102731315ns5:FurnitureFittings2024-01-012024-12-3102731315ns5:MotorVehicles2024-01-012024-12-3102731315ns5:ComputerEquipment2024-01-012024-12-3102731315ns5:LandBuildings2023-12-3102731315ns5:PlantMachinery2023-12-3102731315ns5:FurnitureFittings2023-12-3102731315ns5:LandBuildings2024-01-012024-12-3102731315ns5:LandBuildings2024-12-3102731315ns5:PlantMachinery2024-12-3102731315ns5:FurnitureFittings2024-12-3102731315ns5:LandBuildings2023-12-3102731315ns5:PlantMachinery2023-12-3102731315ns5:FurnitureFittings2023-12-3102731315ns5:MotorVehicles2023-12-3102731315ns5:ComputerEquipment2023-12-3102731315ns5:MotorVehicles2024-12-3102731315ns5:ComputerEquipment2024-12-3102731315ns5:MotorVehicles2023-12-3102731315ns5:ComputerEquipment2023-12-3102731315ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3102731315ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3102731315ns5:Secured2024-12-3102731315ns5:Secured2023-12-31027313153ns10:Director32023-12-31027313153ns10:Director32022-12-31027313153ns10:Director32024-01-012024-12-31027313153ns10:Director32023-01-012023-12-31027313153ns10:Director32024-12-31027313153ns10:Director32023-12-31
REGISTERED NUMBER: 02731315 (England and Wales)









AUSTEN KNAPMAN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






AUSTEN KNAPMAN LIMITED (REGISTERED NUMBER: 02731315)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AUSTEN KNAPMAN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: A H G Knapman
R Knapman
H K Gigg





SECRETARY: H K Gigg





REGISTERED OFFICE: Ash House
Blythe Way
Yalberton Industrial Estate
Paignton
Devon
TQ4 7QP





REGISTERED NUMBER: 02731315 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

AUSTEN KNAPMAN LIMITED (REGISTERED NUMBER: 02731315)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,665,088 1,732,106

CURRENT ASSETS
Stocks 468,051 546,399
Debtors 6 1,029,547 1,177,534
Cash at bank and in hand 439,729 319,466
1,937,327 2,043,399
CREDITORS
Amounts falling due within one year 7 379,948 482,775
NET CURRENT ASSETS 1,557,379 1,560,624
TOTAL ASSETS LESS CURRENT LIABILITIES 3,222,467 3,292,730

CREDITORS
Amounts falling due after more than one year 8 (823,036 ) (872,195 )

PROVISIONS FOR LIABILITIES (35,600 ) (45,000 )
NET ASSETS 2,363,831 2,375,535

CAPITAL AND RESERVES
Called up share capital 16,140 16,140
Share premium 1,059 1,059
Retained earnings 2,346,632 2,358,336
SHAREHOLDERS' FUNDS 2,363,831 2,375,535

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

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

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 Board of Directors and authorised for issue on 7 July 2025 and were signed on its behalf by:




A H G Knapman - Director


AUSTEN KNAPMAN LIMITED (REGISTERED NUMBER: 02731315)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Austen Knapman 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.

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


2. 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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Accrued income is recognised where the service has been provided or product despatched, but no invoice has yet been raised.

Deferred income is recognised when an amount has been invoiced but the service or product has not yet been provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets 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 estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

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 an impairment loss is recognised immediately in profit or loss.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items. Stock is accounted for using the first in first out method.


AUSTEN KNAPMAN LIMITED (REGISTERED NUMBER: 02731315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

3. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Pension costs and other post-retirement benefits
Short- term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance costs in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary costs payable for the period of absence.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 20 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2024 1,866,716 736,960 62,641
Additions - 1,070 -
At 31 December 2024 1,866,716 738,030 62,641
DEPRECIATION
At 1 January 2024 347,563 566,899 54,649
Charge for year 34,830 23,111 1,402
At 31 December 2024 382,393 590,010 56,051
NET BOOK VALUE
At 31 December 2024 1,484,323 148,020 6,590
At 31 December 2023 1,519,153 170,061 7,992

AUSTEN KNAPMAN LIMITED (REGISTERED NUMBER: 02731315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2024 34,813 126,396 2,827,526
Additions - - 1,070
At 31 December 2024 34,813 126,396 2,828,596
DEPRECIATION
At 1 January 2024 6,963 119,346 1,095,420
Charge for year 5,570 3,175 68,088
At 31 December 2024 12,533 122,521 1,163,508
NET BOOK VALUE
At 31 December 2024 22,280 3,875 1,665,088
At 31 December 2023 27,850 7,050 1,732,106

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 269,942 296,695
Other debtors 759,605 880,839
1,029,547 1,177,534

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 48,159 44,950
Trade creditors 242,436 281,177
Taxation and social security 57,007 78,624
Other creditors 32,346 78,024
379,948 482,775

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 823,036 872,195

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 610,211 667,626

AUSTEN KNAPMAN LIMITED (REGISTERED NUMBER: 02731315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 871,195 917,145

Bank loans and overdrafts are secured by a fixed and floating charge over the company's assets and undertakings.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
H K Gigg
Balance outstanding at start of year 684,394 (843 )
Amounts advanced 823,496 772,982
Amounts repaid (928,847 ) (87,745 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 579,043 684,394

11. ULTIMATE CONTROLLING PARTY

The controlling party is A H G Knapman.