Company No: 11546609 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Investment property	3	2,410,000		2,410,000
Investments	4	35,269		35,359
		2,445,269		2,445,359
Current assets
Debtors	5	3,225,409		4,906,836
Cash at bank and in hand		294		4,971
		3,225,703		4,911,807
Creditors: amounts falling due within one year	6	( 4,764,965)		( 6,544,676)
Net current liabilities		(1,539,262)		(1,632,869)
Total assets less current liabilities		906,007		812,490
Creditors: amounts falling due after more than one year	7	0		( 3,083)
Provision for liabilities		( 93,289)		( 66,544)
Net assets		812,718		742,863
Capital and reserves
Called-up share capital		1		1
Undistributable reserve		279,868		279,868
Profit and loss account		532,849		462,994
Total shareholder's funds		812,718		742,863

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

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 The Knights Estates Limited (registered number: 11546609) were approved and authorised for issue by the Director on 30 October 2026. They were signed on its behalf by:

M S Evans 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

The Knights Estates Limited (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 22 Wycombe End, Beaconsfield, HP9 1NB, 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 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of The Knights Estates Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

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 on monetary items.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for the rendering of services in the normal course of business, and is shown net of discounts and VAT.

Rendering of services
Revenue arises from the provision of Head Office services to other group companies.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

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.

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 average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. 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 assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. 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:

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.

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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	2		4

3. Investment property

	Investment property
	£
Valuation
As at 01 November 2024	2,410,000
As at 31 October 2025	2,410,000

Valuation

Investment property comprises 65 High Street, Marlow. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 October 2025 by M Evans, director of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 November 2024	144
At 31 October 2025	144
Provisions for impairment
At 01 November 2024	0
Disposals	90
At 31 October 2025	90
Carrying value at 31 October 2025	54
Carrying value at 31 October 2024	144

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 November 2024	35,215		35,215
At 31 October 2025	35,215		35,215
Carrying value at 31 October 2025	35,215		35,215
Carrying value at 31 October 2024	35,215		35,215

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.10.2025	Ownership 31.10.2024
Knights Bespoke Build Limited	22 Wycombe End, Beaconsfield, Buckinghamshire, England, HP9 1NB	Development of properties	Ordinary	100.00%	100.00%
Knights Developments Group Limited	22 Wycombe End, Beaconsfield, England, HP9 1NB	Dormant	Ordinary	100.00%	100.00%
K D Marlow High Street Limited	22 Wycombe End, Beaconsfield, Buckinghamshire, United Kingdom, HP9 1NB	Dormant	Ordinary	100.00%	100.00%
The Knights Retreat Limited	22, Wycombe End, Beaconsfield, Bucks, England, HP9 1NB	Short term property lets	Ordinary	100.00%	100.00%

Investments in associates

The following were associates of the Company:

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.10.2025	Ownership 31.10.2024
Beechwood Road South Ltd	22 Wycombe End, Beaconsfield, Buckinghamshire, United Kingdom, HP9 1NB	Construction of domestic buildings	Ordinary	40.00%	40.00%

Investments in joint ventures

The following were joint ventures of the Company:

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.10.2025	Ownership 31.10.2024
RAK Rectory Hill Limited	22 Wycombe End, Beaconsfield, Buckinghamshire, United Kingdom, HP9 1NB	Development of properties	Ordinary	50.00%	50.00%
RAK Kiln Lane Limited	22 Wycombe End, Beaconsfield, Buckinghamshire, United Kingdom, HP9 1NB	Development of properties	Ordinary	0.00%	50.00%

5. Debtors

	2025		2024
	£		£
Trade debtors	0		32,000
Amounts owed by Group undertakings	2,521,570		4,537,331
Other debtors	703,839		337,505
	3,225,409		4,906,836

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	3,084		5,177
Trade creditors	128,787		48,784
Amounts owed to Group undertakings	360,508		143
Taxation and social security	58,264		223,012
Other creditors	4,214,322		6,267,560
	4,764,965		6,544,676

Included in other creditors are loans of £1,500,000 secured by way of a fixed and floating charge over the assets of the company.

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	0		3,083

8. Related party transactions

Other related party transactions

The company has taken advantage of the exemptions permitted by FRS 102 section 1.AC.35 not to provide disclosures of transactions entered into with other wholly-owned members of the group.

At the balance sheet date the company was owed £17,134 (2024: £360) by companies under common control, and owed £nil (2024: £259,808) to companies under common control. These loans are interest free and repayable on demand.

During the year, the company charged management charges of £nil (2024: £60,118) to companies under common control.

During the period the director and their associates loaned money to the company. At the balance sheet date, £2,383,337 (2024: £4,501,752) was due to them. During the period £33,000 (2024: £30,000) in interest has been paid.