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Registered number: 03098381
J & K Knitwear Co Limited
Unaudited Financial Statements
For The Year Ended 30 September 2025
RS Partnership Ltd
ACCA
10 Prospect Place
Welwyn
Hertfordshire
AL6 9EW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03098381
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 162 216
162 216
CURRENT ASSETS
Stocks 6 125,000 200,000
Debtors 7 336,204 236,955
Cash at bank and in hand 536,868 328,904
998,072 765,859
Creditors: Amounts Falling Due Within One Year 8 (398,900 ) (393,121 )
NET CURRENT ASSETS (LIABILITIES) 599,172 372,738
TOTAL ASSETS LESS CURRENT LIABILITIES 599,334 372,954
PROVISIONS FOR LIABILITIES
Deferred Taxation (39 ) (39 )
NET ASSETS 599,295 372,915
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 599,195 372,815
SHAREHOLDERS' FUNDS 599,295 372,915
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For the year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 30 April 2026 and were signed on its behalf by:
Mr Jagesh Kumar Sharma
Director
30 April 2026
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
J & K Knitwear Co Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03098381 . The registered office is 10 Prospect Place, Welwyn, Hertfordshire, AL6 9EW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are presented in Pounds Sterling (£), which is the company’s functional currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2024: 5)
5 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2024 600,000
As at 30 September 2025 600,000
Amortisation
As at 1 October 2024 600,000
As at 30 September 2025 600,000
Net Book Value
As at 30 September 2025 -
As at 1 October 2024 -
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5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 October 2024 54,049
As at 30 September 2025 54,049
Depreciation
As at 1 October 2024 53,833
Provided during the period 54
As at 30 September 2025 53,887
Net Book Value
As at 30 September 2025 162
As at 1 October 2024 216
6. Stocks
2025 2024
£ £
Finished goods 125,000 200,000
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 316,828 220,574
Other debtors 19,376 16,381
336,204 236,955
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 178,767 184,542
Bank loans and overdrafts 54,163 72,199
Other creditors 40,244 40,245
Taxation and social security 125,726 96,135
398,900 393,121
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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