PSK Knighton Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03019350 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2017

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

REGISTERED OFFICE:

Burrells Accountancy Limited

Jubilee House

Jubilee Court

Dersingham

Norfolk

PE31 6HH

REGISTERED NUMBER:

03019350 (England and Wales)

ACCOUNTANTS:

Burrells Accountancy Limited

Jubilee House

Jubilee Court

Dersingham

King's Lynn

Norfolk

PE31 6HH

BANKERS:

Coutts and Co

440 Strand

London

WC2R 0QS

FIXED ASSETS

Tangible assets

3

8,818

11,407

CURRENT ASSETS

Debtors

315,245

343,164

Cash at bank

129,002

124,759

444,247

467,923

CREDITORS

Amounts falling due within one year

301,888

307,184

NET CURRENT ASSETS

142,359

160,739

TOTAL ASSETS LESS CURRENT
LIABILITIES

151,177

172,146

PROVISIONS FOR LIABILITIES

4

1,500

2,300

NET ASSETS

149,677

169,846

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

149,577

169,746

SHAREHOLDERS' FUNDS

149,677

169,846

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 August 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors on 31 May 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Office Furniture

-

25% on reducing balance

Office Equipment

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2016

70,839

Additions

340

At 31 August 2017

71,179

DEPRECIATION

At 1 September 2016

59,432

Charge for year

2,929

At 31 August 2017

62,361

NET BOOK VALUE

At 31 August 2017

8,818

At 31 August 2016

11,407

4.	PROVISIONS FOR LIABILITIES

31.8.17

31.8.16

£

Deferred tax

1,500

2,300

Deferred

tax

£

Balance at 1 September 2016

2,300

Credit to Abridged Income Statement during year

(800

)

Balance at 31 August 2017

1,500

5.	RELATED PARTY DISCLOSURES

N Knighton and Mrs S Knighton

Directors of the company

The above mentioned directors are also directors of St Lukes Investments Limited, a company

incorporated in England and Wales.

31.8.17

31.8.16

£

Amount due to related party at the balance sheet date

67,238

N Knighton and Mrs S Knighton

Directors of the company

The above mentioned directors are also directors of Sopwith Court Limited, a company incorporated

in England and Wales.

31.8.17

31.8.16

£

Amount due to related party at the balance sheet date

100,132

102,849

N Knighton and Mrs S Knighton

Directors of the company

The above mentioned directors are also directors of Rylston Road Limited, a company incorporated

in England and Wales.

31.8.17

31.8.16

£

Amount due from related party at the balance sheet date

313,136

312,000

N Knighton and Mrs S Knighton

Directors of the company

The above mentioned directors are also directors 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 £9,600 (2016 - £9200).

31.8.17

31.8.16

£

Amount due to related party at the balance sheet date

49,800

40,200

6.	ULTIMATE CONTROLLING PARTY

The controlling party is N A Knighton.

7.	FIRST YEAR ADOPTION

The company transitioned from previously extant UK GAAP to FRS 102 as at 1 September 2015. The

transition to FRS 102 has not affected the reported financial position and financial performance.

PSK Knighton Limited - Accounts to registrar (filleted) - small 17.3

PSK Knighton Limited - Accounts to registrar (filleted) - small 17.3