Knight & Co (Engineers) Limited - Period Ending 2019-04-05

Registration number: 00256235

Knight & Co (Engineers) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 5 April 2019

Sobell Rhodes LLP
Chartered Accountants
Ground Floor
Unit 501 Centennial Park
Centennial Avenue
Elstree, Borehamwood
Hertfordshire
WD6 3FG

Knight & Co (Engineers) Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Statement of Changes in Equity	4
Notes to the Financial Statements	5 to 7

Knight & Co (Engineers) Limited

Company Information

Directors

Mr A J White Mr B J Scott Knight Mr A J Scott Knight

Company secretary

Mr A J White

Registered office

Ground Floor Unit 501, Centennial Avenue Centennial Park Elstree, Borehamwood Hertfordshire WD6 3FG

Accountants

Sobell Rhodes LLP Chartered Accountants Ground Floor Unit 501 Centennial Park Centennial Avenue Elstree, Borehamwood Hertfordshire WD6 3FG

Page 1

Knight & Co (Engineers) Limited

(Registration number: 00256235)
Balance Sheet as at 5 April 2019

	Note	2019 £	2018 £
Fixed assets
Other financial assets	4	1,049,759	788,646
Current assets
Debtors	5	91	643,097
Cash at bank and in hand		554,883	106,820
		554,974	749,917
Creditors: Amounts falling due within one year	6	(3,395)	(122,859)
Net current assets		551,579	627,058
Total assets less current liabilities		1,601,338	1,415,704
Provisions for deferred tax		(113,492)	(82,346)
Net assets		1,487,846	1,333,358
Capital and reserves
Called up share capital	7	78,060	78,060
Other reserves		462,162	329,384
Profit and loss account		947,624	925,914
Total equity		1,487,846	1,333,358

The notes on pages 5 to 7 form an integral part of these financial statements.

Page 2

Knight & Co (Engineers) Limited

(Registration number: 00256235)
Balance Sheet as at 5 April 2019

For the financial year ending 5 April 2019 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 18 November 2019 and signed on its behalf by:
 

Mr B J Scott Knight
Director

The notes on pages 5 to 7 form an integral part of these financial statements.

Page 3

Knight & Co (Engineers) Limited

Statement of Changes in Equity for the Year Ended 5 April 2019

	Share capital £	Non-distributable reserve £	Profit and loss account £	Total £
At 6 April 2018	78,060	329,384	925,914	1,333,358
Profit for the year	-	-	170,100	170,100
Other comprehensive income	-	132,778	(132,778)	-
Total comprehensive income	-	132,778	37,322	170,100
Dividends	-	-	(15,612)	(15,612)
At 5 April 2019	78,060	462,162	947,624	1,487,846

	Share capital £	Non-distributable reserve £	Profit and loss account £	Total £
At 6 April 2017	78,060	437,720	478,125	993,905
Profit for the year	-	-	355,065	355,065
Other comprehensive income	-	(108,336)	108,336	-
Total comprehensive income	-	(108,336)	463,401	355,065
Dividends	-	-	(15,612)	(15,612)
At 5 April 2018	78,060	329,384	925,914	1,333,358

The notes on pages 5 to 7 form an integral part of these financial statements.

Page 4

Knight & Co (Engineers) Limited

Notes to the Financial Statements for the Year Ended 5 April 2019

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Ground Floor
Unit 501, Centennial Avenue
Centennial Park
Elstree, Borehamwood
Hertfordshire
WD6 3FG

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investments

Fixed asset investments are stated at fair value with changes in fair value being recognised in the profit and loss account.

Page 5

Knight & Co (Engineers) Limited

Notes to the Financial Statements for the Year Ended 5 April 2019

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2018 - 3).

4	Financial asset

	Other investments £	Total £
Non-current financial assets
Cost or valuation
At 6 April 2018	788,647	788,647
Fair value adjustments	163,924	163,924
Additions	97,188	97,188
At 5 April 2019	1,049,759	1,049,759
Carrying amount
At 5 April 2019	1,049,759	1,049,759

5

Debtors

	2019 £	2018 £
Other debtors	91	643,097
	91	643,097

Page 6

Knight & Co (Engineers) Limited

Notes to the Financial Statements for the Year Ended 5 April 2019

6

Creditors

	2019 £	2018 £
Due within one year
Trade creditors	-	22,343
Accruals and deferred income	3,395	3,283
Corporation tax	-	97,233
	3,395	122,859

7	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary shares of £1 each	78,060	78,060	78,060	78,060

Page 7