PSK Knighton Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 03019350 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2022

for

PSK Knighton Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N A Knighton

Mrs S Knighton

Mrs H Algar

REGISTERED OFFICE:

13 Hellesdon Park Road

Drayton High Road

Norwich

Norfolk

NR6 5DR

REGISTERED NUMBER:

03019350 (England and Wales)

ACCOUNTANTS:

Heritage Tax & Consultancy

13 Hellesdon Park Road

Drayton High Road

Norwich

Norfolk

NR6 5DR

FIXED ASSETS

Tangible assets

4

2,836

3,782

CURRENT ASSETS

Debtors

451,326

512,450

Cash at bank

251,417

318,455

702,743

830,905

CREDITORS

Amounts falling due within one year

296,179

395,490

NET CURRENT ASSETS

406,564

435,415

TOTAL ASSETS LESS CURRENT LIABILITIES

409,400

439,197

CAPITAL AND RESERVES

Called up share capital

5

100

100

Retained earnings

6

409,300

439,097

SHAREHOLDERS' FUNDS

409,400

439,197

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 August 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2023 and were signed on its behalf by:

N A Knighton - Director

1.	STATUTORY INFORMATION

PSK Knighton Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2021

and 31 August 2022

73,379

DEPRECIATION

At 1 September 2021

69,597

Charge for year

946

At 31 August 2022

70,543

NET BOOK VALUE

At 31 August 2022

2,836

At 31 August 2021

3,782

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.22

31.8.21

value:

£

£

100

Ordinary

1

100

100

6.

RESERVES

Retained

earnings

£

At 1 September 2021

439,097

Deficit for the year

(29,797

)

At 31 August 2022

409,300

7.	RELATED PARTY DISCLOSURES

N A and Mrs S Knighton

Directors of the company.

The above directors are also directors of St Lukes Investments Limited, a company incorporated in England and Wales.

31.8.22

31.8.21

£

£

Amount due to related party at the balance sheet date

66,226

66,226

N A Knighton

Director of the company.

The above director is also a director of 1215 Heritage Homes Limited, a company incorporated in England and Wales.

31.8.22

31.8.21

£

£

Amount due from related party at the balance sheet date

48,070

35,529

N A and Mrs S Knighton

Directors of the company.

The above directors are also directors of Sopwith Court Limited, a company incorporated in England and Wales.

31.8.22

31.8.21

£

£

Amount due to related party at the balance sheet date

76,435

79,949

N A and Mrs S Knighton

Directors of the company.

The above directors are also directors of Rylston Road Limited, a company incorporated in England and Wales.

31.8.22

31.8.21

£

£

Amount due from related party at the balance sheet date

402,686

473,136

N A and Mrs S Knighton

Directors of the company.

The above directors are also the partners of Gullwing Enterprises LLP, a limited liability partnership incorporated in England and Wales.

During the year the company received marketing services from Gullwing Enterprises LLP amounting to £18,650 (2021 - £10,500).

31.8.22

31.8.21

£

£

Amount due from related party at the balance sheet date

--

91,800

8.	ULTIMATE CONTROLLING PARTY

The controlling party is N A Knighton.