Company No: 07416123 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	163,941		107,890
		163,941		107,890
Current assets
Stocks	4	699,135		517,116
Debtors	5	809,973		538,728
Cash at bank and in hand		1,121,854		794,529
		2,630,962		1,850,373
Creditors: amounts falling due within one year	6	( 2,056,868)		( 1,264,110)
Net current assets		574,094		586,263
Total assets less current liabilities		738,035		694,153
Provision for liabilities		( 15,000)		( 15,000)
Net assets		723,035		679,153
Capital and reserves
Called-up share capital	7	108		180
Share premium account		684		684
Capital redemption reserve		187		115
Profit and loss account		722,056		678,174
Total shareholders' funds		723,035		679,153

For the financial year ending 30 April 2026 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Knight Electrical Switchgear Ltd (registered number: 07416123) were approved and authorised for issue by the Board of Directors on 02 September 2026. They were signed on its behalf by:

N Gould Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Knight Electrical Switchgear Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 1 Donyatt Business Park, Donyatt, Ilminster, TA19 0RG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover represents amounts invoiced, net of value added tax and after trade discounts, in respect of the sale of goods and services, as adjusted to reflect changes in the value of amounts recoverable on contracts.

Contracts are stated at a net cost less foreseeable losses. Where the outcome of the contract can be foreseen and the net cost plus profit earned to date exceeds the invoiced amount, the value is included in debtors as amounts recoverable on long term contracts. Invoiced amounts which exceed net cost or valuation are included in creditors as payments on account.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	6.67 years straight line
Plant and machinery	15 - 25 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	34		34

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 May 2025	41,261		137,079		114,632		42,486		335,458
Additions	0		2,041		106,039		12,820		120,900
Disposals	0		0		( 91,700)		0		( 91,700)
At 30 April 2026	41,261		139,120		128,971		55,306		364,658
Accumulated depreciation
At 01 May 2025	30,326		103,347		61,773		32,122		227,568
Charge for the financial year	5,049		12,966		12,712		11,174		41,901
Disposals	0		0		( 68,752)		0		( 68,752)
At 30 April 2026	35,375		116,313		5,733		43,296		200,717
Net book value
At 30 April 2026	5,886		22,807		123,238		12,010		163,941
At 30 April 2025	10,935		33,732		52,859		10,364		107,890

4. Stocks

	2026		2025
	£		£
Stocks	699,135		517,116

5. Debtors

	2026		2025
	£		£
Trade debtors	764,630		478,606
Other debtors	45,343		60,122
	809,973		538,728

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	641,185		390,555
Taxation and social security	314,155		167,572
Other creditors	1,101,528		705,983
	2,056,868		1,264,110

7. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
90 Ordinary A shares of £ 1.00 each (2025: 160 shares of £ 1.00 each)	90		160
5 Ordinary F shares of £ 1.00 each (2025: 7 shares of £ 1.00 each)	5		7
7 Ordinary G shares of £ 1.00 each	7		7
2 Ordinary H shares of £ 1.00 each	2		2
4 Ordinary I shares of £ 1.00 each	4		4
	108		180