Paul Knight Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC522552 (Scotland)

Unaudited Financial Statements

for the Year Ended 5 April 2018

for

Paul Knight Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P Knight

REGISTERED OFFICE:

1 Hollyhock Glade

Livingston

West Lothian

EH54 9JQ

REGISTERED NUMBER:

SC522552 (Scotland)

ACCOUNTANTS:

SBP

Accountants

Glebefield House

21 Links Terrace

Peterhead

Aberdeenshire

AB42 2XA

CURRENT ASSETS

Investments

4

1,563

-

Cash at bank

1,828

2,292

3,391

2,292

CREDITORS

Amounts falling due within one year

5

7,253

5,267

NET CURRENT LIABILITIES

(3,862

)

(2,975

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,862

)

(2,975

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(3,863

)

(2,976

)

SHAREHOLDERS' FUNDS

8

(3,862

)

(2,975

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director on 4 January 2019 and were signed by:

P Knight - Director

1.	STATUTORY INFORMATION

Paul Knight Limited is a private company, limited by shares , registered in Scotland. 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.

The financial statements have been prepared in UK £ sterling.

Going concern

The director, having made due and careful enquiry, is of the opinion that the company has adequate working

capital to execute its operations over the next 12 months. The director, therefore, has made an informed

judgement, at the time of approving the financial statements, that there is reasonable expectation that the

company has adequate resources to continue in operational existence for the foreseeable future. As a result, the

director has continued to adopt the going concern basis of accounting in preparing the annual financial

statements.

Turnover

Turnover represents amounts receivable for services provided in the normal course of business, net of discounts

and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company

and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised

in the accounting period to which it relates.

Taxation

Taxation for the year comprises current and 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 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.

Debtors and creditors receivable /payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative costs.

Current asset investments

On the basis that no information is readily available with which to assess the current value of the share

investments held, the holding is reported in the balance sheet at original cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 1 ).

4.	CURRENT ASSET INVESTMENTS

On the basis that no information is readily available with which to assess the current value of the share

investments held, the holding is reported in the balance sheet at original cost.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.18

5.4.17

£

£

Taxation and social security

6,012

4,235

Other creditors

1,241

1,032

7,253

5,267

6.	RELATED PARTY DISCLOSURES

During the year, total dividends of £26,056 (2017 - £19,903) were paid to the director .

The director operates a current account with the company and as at 5th April 2018 he balance owing to him was

£35 (2017: £12). There are no fixed terms of repayment and no interest is accrued.

7.	ULTIMATE CONTROLLING PARTY

The controlling party is P Knight.

8.	RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

5.4.18

5.4.17

£

£

Profit for the financial year

25,169

16,927

Dividends

(26,056

)

(19,903

)

New share capital subscribed

-

1

Net reduction of shareholders' funds

(887

)

(2,975

)

Opening shareholders' funds

(2,975

)

-

Closing shareholders' funds

(3,862

)

(2,975

)