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REGISTERED NUMBER: 07026972 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

KNIGHTS RESIDENTIAL LIMITED

KNIGHTS RESIDENTIAL LIMITED (REGISTERED NUMBER: 07026972)






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




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


KNIGHTS RESIDENTIAL LIMITED (REGISTERED NUMBER: 07026972)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 60,855 17,771

CURRENT ASSETS
Debtors 5 288,222 336,556
Cash at bank and in hand 206,186 180,188
494,408 516,744
CREDITORS
Amounts falling due within one year 6 157,933 133,600
NET CURRENT ASSETS 336,475 383,144
TOTAL ASSETS LESS CURRENT
LIABILITIES

397,330

400,915

CREDITORS
Amounts falling due after more than one year 7 (4,791 ) (14,930 )

PROVISIONS FOR LIABILITIES 8 (8,009 ) (4,443 )
NET ASSETS 384,530 381,542

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 384,430 381,442
384,530 381,542

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 14 July 2025 and were signed on its behalf by:



Mr A Demetriou - Director


KNIGHTS RESIDENTIAL LIMITED (REGISTERED NUMBER: 07026972)

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

1. STATUTORY INFORMATION

Knights Residential 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: 07026972

Registered office: 612 High Road
London
N17 9TA

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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements and estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax.

Revenue is recognised when services are rendered to the customers.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Leasehold land and buildings - Over the lease terms
Fixtures and fittings - 15% on reducing balance
Motor vehicle - 20% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.


KNIGHTS RESIDENTIAL LIMITED (REGISTERED NUMBER: 07026972)

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

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the financial position statement of financial positiondate.

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 yearar 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.

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

KNIGHTS RESIDENTIAL LIMITED (REGISTERED NUMBER: 07026972)

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

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2024 4,400 57,697 499 62,596
Additions 28,818 16,934 - 45,752
At 31 December 2024 33,218 74,631 499 108,348
DEPRECIATION
At 1 January 2024 4,400 39,957 468 44,825
Charge for year - 2,661 7 2,668
At 31 December 2024 4,400 42,618 475 47,493
NET BOOK VALUE
At 31 December 2024 28,818 32,013 24 60,855
At 31 December 2023 - 17,740 31 17,771

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 42,842 89,407
Amounts owed by group undertakings 118,000 -
Other debtors 127,380 247,149
288,222 336,556

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 26,199 11,454
Taxation and social security 35,026 76,610
Other creditors 86,708 35,536
157,933 133,600

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 4,791 14,930

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 8,009 4,443

KNIGHTS RESIDENTIAL LIMITED (REGISTERED NUMBER: 07026972)

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

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2024 4,443
Provided during year 3,566
Balance at 31 December 2024 8,009

9. OTHER FINANCIAL COMMITMENTS

Total future minimum payments under non-cancellable operating leases amounted to £25,000 (2023: £20,000)

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in other debtors due within one year is an amount of Nil (2023: £118,000) due from the directors of the company. Interest at 2.25% was charged on the overdrawn balance.

Included in other debtors due within one year is an amount of £71,432 (2023: £72,530) due from the connected companies under common directorship. The amount is interest free and repayable on demand.

Included in other creditors less than one year is an amount of £48,902 (2023: £1,098 due from) due to connected company under common directorship. The amount is interest free and repayable on demand.