A & E McKnight Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03751580

A & E McKNIGHT LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 April 2026

A & E McKNIGHT LIMITED

STATEMENT OF FINANCIAL POSITION

30 April 2026

	2026		2025
Note	£	£	£

Fixed assets

Tangible assets	4		341,642	1,021,883

Current assets

Debtors	5	1,491	1,903
Cash at bank and in hand		847,283	176,640
		---------	---------
		848,774	178,543

Creditors: amounts falling due within one year	6	219,689		127,916
		---------		---------
Net current assets			629,085	50,627
			---------	------------
Total assets less current liabilities			970,727	1,072,510

Provisions	22,789	127,647
	---------	------------
Net assets	947,938	944,863
	---------	------------

Capital and reserves

Called up share capital	7	2	2
Revaluation reserve		144,282	554,281
Profit and loss account		803,654	390,580
		---------	---------
Shareholders funds		947,938	944,863
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

A & E McKNIGHT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 April 2026

These financial statements were approved by the board of directors and authorised for issue on 23 October 2026 , and are signed on behalf of the board by:

A A McKnight	Mrs E S McKnight
Director	Director

Company registration number: 03751580

A & E McKNIGHT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 APRIL 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 The Chambers, Vineyard, Abingdon.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rental income, which is exempt from Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	10% straight line

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Trade and other debtors

Trade and other debtors are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors

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

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price. Financial assets that are measured at cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately.

Related parties

For the purposes of these financial statements, a party is considered to be related to the Company if:

(i) the party has the ability, directly or indirectly, through one or more intermediaries, to control the Company or exercise significant influence over the Company in making financial and operating policy decisions, or has joint control over the Company;

(ii) the Company and the party are subject to common control;

(iii) the party is an associate of the Company or a joint venture in which the Company is a venturer;

(iv) the party is a member of key management personnel of the Company or the Company's parent, or a close family member of such an individual, or is an entity under the control, joint control or significant influence of such individuals;

(v) the party is a close family member of a party referred to in (i) or is an entity under the control,joint control or significant influence of such individuals; or close family members of an individual are those family members who it may be expected to influence, or be influenced by, that individual in their dealings with the entity.

4. Tangible assets

	Freehold property	Fixtures and fittings	Total
	£	£	£
Cost
At 1 May 2025	1,020,000	9,045	1,029,045
Additions	100	–	100
Disposals	( 680,000)	–	( 680,000)
	------------	-------	------------
At 30 April 2026	340,100	9,045	349,145
	------------	-------	------------
Depreciation
At 1 May 2025	–	7,162	7,162
Charge for the year	–	341	341
	------------	-------	------------
At 30 April 2026	–	7,503	7,503
	------------	-------	------------
Carrying amount
At 30 April 2026	340,100	1,542	341,642
	------------	-------	------------
At 30 April 2025	1,020,000	1,883	1,021,883
	------------	-------	------------

During the year ended 30 April 2026 the company disposed of two investment properties and the net proceeds on their sale was £659,274. The properties were valued at £680,000 in the financial statements therefore the statement of comprehensive income discloses a 'loss' on disposal of £20,726. The directors are of the opinion that the valuation of the remaining property of £340,100 is a reasonable estimate of the current market value at 30 April 2026 when taking into account the prevailing market conditions. If investment properties were stated on an historical cost basis rather than a fair value basis, then cost would have been £248,945 (2025 - £526,540).

5. Debtors

	2026	2025
	£	£
Other debtors	1,491	1,903
	-------	-------

6. Creditors: amounts falling due within one year

	2026	2025
	£	£
Corporation tax	100,174	7,340
Other creditors	119,515	120,576
	---------	---------
	219,689	127,916
	---------	---------

7. Called up share capital

Issued, called up and fully paid

	2026		2025
	No.	£	No.	£
Ordinary shares of £ 1 each	2	2	2	2
	----	----	----	----