Knotts Joinery Ltd Accounts






Knotts Joinery Ltd

	Company No. 15241180
		Information for Filing with The Registrar
		31 October 2025

The Directors present their report and the accounts for the year ended 31 October 2025.

Principal activities
The principal activity of the company during the year under review was .




Directors

The Directors who served at any time during the year were as follows:

M.L. Brunt
S.J. Holmes








































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

M.L. Brunt
Director
31 October 2025

at	31 October 2025
Company No.		15241180	Notes	2025	2024
				£	£
Fixed assets

	Tangible assets		5	21,677	23,653


				21,677	23,653
Current assets

	Debtors		6	4,157	3,284

	Cash at bank and in hand			64,846	16,320
				69,003	19,604
Creditors: Amount falling due within one year			7	(44,841)	(21,136)
Net current assets/(liabilities)				24,162	(1,532)
Total assets less current liabilities				45,839	22,121




Net assets				45,839	22,121

Capital and reserves
	Called up share capital			4	4



	Profit and loss account		9	45,835	22,117

Total equity				45,839	22,121



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 31 October 2025 and signed on its behalf by:
M.L. Brunt
Director
31 October 2025

for the year ended 31 October 2025

General information

Knotts Joinery Ltd is a private company limited by shares and incorporated in England and Wales.

Its registered number is: 15241180

Its registered office is:

65-67 Church Street

Sutton in Ashfield

Nots

NG17 1FE

The accounts have been prepared in accordance and comply with FRS 102 and Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Accounting policies

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

15% Reducing balance

Motor vehicles

25% Reducing balance

Research and development costs

Expenditure on research and development is written off in the year it is incurred unless it meets the criteria to allow it to be capitalised. Costs of research are always written off in the year in which they are incurred. Where development costs are recognised as an asset, they are amortised over the period expected to benefit from them. Amortisation of the capitalised costs begins once the developed product comes into use, typically at rate of 33.33% straight line.

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 profit and loss account 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 temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary 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.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.

Investments

Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other 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.

Foreign currencies

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2025	2024
			Number	Number
		The average monthly number of employees (including directors) during the year was:	6	6

4	Taxation
		(a) Tax on profit on ordinary activities	2025	2024
		The tax charge is made up as follows:	£	£
		UK corporation tax
		Charge for the period	29,231	12,026

		Total corporation tax	29,231	12,026





		Tax on profit on ordinary activities	29,231	12,026

		(b) Factors affecting the total tax charge for the period
		The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The differences are reconciled below:
		Higher	2025	2024
		29231	£	£
		Profit on ordinary activities before tax	126,949	58,543



		Profit on ordinary activities multiplied by standard rate of corporation tax in the United Kingdom	-	-
		Expenses not deductible for tax purposes	29,231	12,026




		Tax on profit on ordinary activities	29,231	12,026

5	Tangible fixed assets
			Plant and machinery	Motor vehicles	Total
			£	£	£
		Cost or revaluation
		At 1 November 2024	8,815	21,547	30,362
		Additions	3,750	-	3,750



		At 31 October 2025	12,565	21,547	34,112
		Depreciation
		At 1 November 2024	1,322	5,387	6,709
		Charge for the year	1,686	4,040	5,726



		At 31 October 2025	3,008	9,427	12,435
		Net book values
		At 31 October 2025	9,557	12,120	21,677
		At 31 October 2024	7,493	16,160	23,653

6	Debtors
			2025	2024
			£	£




		VAT recoverable	4,157	3,284



			4,157	3,284

7	Creditors:
		amounts falling due within one year
			2025	2024
			£	£

		Bank loans and overdrafts	5,026	5,429




		Taxes and social security	36,240	12,878
		Loans from directors	3,429	2,249
		Other creditors	146	580

			44,841	21,136

Share Capital

1A, 1B, 1C, 1D Share

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

10	Dividends
			2025	2024
			£	£
		Dividends for the period:
		Dividends paid in the period	74,000	24,400

			74,000	24,400

		Dividends by type:

		Equity dividends	74,000	24,400
			74,000	24,400