0 0 McKnight & Davis Ltd 10307600 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is 98000 Digita Accounts Production Advanced 6.30.9574.0 true 10307600 2024-01-01 2024-12-31 10307600 2024-12-31 10307600 core:RetainedEarningsAccumulatedLosses 2024-12-31 10307600 core:RevaluationReserve 2024-12-31 10307600 core:ShareCapital 2024-12-31 10307600 core:CurrentFinancialInstruments 2024-12-31 10307600 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 10307600 core:Non-currentFinancialInstruments 2024-12-31 10307600 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 10307600 bus:SmallEntities 2024-01-01 2024-12-31 10307600 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 10307600 bus:FullAccounts 2024-01-01 2024-12-31 10307600 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10307600 bus:RegisteredOffice 2024-01-01 2024-12-31 10307600 bus:Director1 2024-01-01 2024-12-31 10307600 bus:Director3 2024-01-01 2024-12-31 10307600 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10307600 bus:Agent1 2024-01-01 2024-12-31 10307600 countries:EnglandWales 2024-01-01 2024-12-31 10307600 2023-12-31 10307600 2023-01-01 2023-12-31 10307600 2023-12-31 10307600 core:RetainedEarningsAccumulatedLosses 2023-12-31 10307600 core:RevaluationReserve 2023-12-31 10307600 core:ShareCapital 2023-12-31 10307600 core:CurrentFinancialInstruments 2023-12-31 10307600 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10307600 core:Non-currentFinancialInstruments 2023-12-31 10307600 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 xbrli:pure iso4217:GBP

Registration number: 10307600

McKnight & Davis Ltd
Annual Report and Unaudited Financial Statements
for the Year Ended 31 December 2024

McKnight & Davis Ltd

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 7

McKnight & Davis Ltd

Company Information

Directors | Mr Christopher John Parkes Mr Neil James Wadmore

Registered office | 23 Hampton Lane Blackfield Southampton SO45 1ZA

Accountants | RiverView Portfolio Limited 1 Market Hill Calne Wiltshire SN11 0BT

McKnight & Davis Ltd

(Registration number: 10307600)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets |  | 2,041 | 2,081
Investment property | 6 | 550,000 | 570,000
|  | 552,041 | 572,081
Current assets |  |  |
Debtors | 8 | 9,720 | 1,750
Cash at bank and in hand |  | 11,235 | 4,161
|  | 20,955 | 5,911
Creditors: Amounts falling due within one year | 9 | (3,016) | (2,764)
Net current assets |  | 17,939 | 3,147
Total assets less current liabilities |  | 569,980 | 575,228
Creditors: Amounts falling due after more than one year | 9 | (444,010) | (492,299)
Provisions for liabilities |  | (15,689) | (19,489)
Net assets |  | 110,281 | 63,440
Capital and reserves |  |  |
Called up share capital |  | 200 | 200
Revaluation reserve |  | 66,887 | 83,087
Retained earnings |  | 43,194 | (19,847)
Shareholders' funds |  | 110,281 | 63,440

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:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 15 September 2025 and signed on its behalf by:

McKnight & Davis Ltd

(Registration number: 10307600)
Balance Sheet as at 31 December 2024 (continued)

......................................... Mr Christopher John Parkes Director
......................................... Mr Neil James Wadmore Director

McKnight & Davis Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
23 Hampton Lane
Blackfield
Southampton
SO45 1ZA
England

These financial statements were authorised for issue by the Board on 15 September 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

McKnight & Davis Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2 | Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

McKnight & Davis Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4 | Profit before tax

Arrived at after charging/(crediting)

| 2024 £ | 2023 £
Depreciation expense | 681 | (51,586)

5 | Intangible assets

Cost or valuation
Amortisation
Carrying amount
At 31 December 2024

6 | Investment properties

| 2024 £
At 1 January | 570,000
Fair value adjustments | (20,000)
At 31 December | 550,000

The fair value of the property at 31 December 2024 has been arrived at on the basis of a valuation carried out
at that date by the director of the company, who is not a professionally qualified valuer. The valuation of
£550,000 was arrived at by reference to the market evidence of transaction prices for similar properties in its
location the property is situated.

7 | Other financial assets (current and non-current)

8 | Debtors

McKnight & Davis Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

8 | Debtors (continued)

Current | 2024 £ | 2023 £
Prepayments | 222 | -
Other debtors | 9,498 | 1,750
| 9,720 | 1,750

9 | Creditors

Creditors: amounts falling due within one year

| 2024 £ | 2023 £
Due within one year |  |
Taxation and social security | 208 | -
Accruals and deferred income | 1,160 | 1,740
Other creditors | 1,648 | 1,024
| 3,016 | 2,764

Creditors: amounts falling due after more than one year

| Note | 2024 £ | 2023 £
Due after one year |  |  |
Loans and borrowings | 10 | 436,159 | 484,448
Other non-current financial liabilities |  | 7,851 | 7,851
|  | 444,010 | 492,299

10 | Loans and borrowings

Non-current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | 436,159 | 436,102
Other borrowings | - | 48,346
| 436,159 | 484,448