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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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R E KNOWLES LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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FOR |
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R E KNOWLES LIMITED |
R E KNOWLES LIMITED (REGISTERED NUMBER: 00386921) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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R E KNOWLES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
The Old Coach House |
Horsefair |
Rugeley |
Staffordshire |
WS15 2EL |
R E KNOWLES LIMITED (REGISTERED NUMBER: 00386921) |
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BALANCE SHEET |
28 FEBRUARY 2018 |
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28.2.17 | 28.2.18 |
£ | Notes | £ |
FIXED ASSETS |
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Tangible assets | 4 |
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Investments | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
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Stocks | 7 |
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Debtors | 8 |
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Cash at bank and in hand |
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CREDITORS |
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) | Amounts falling due within one year | 9 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
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Called up share capital | 11 |
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Revaluation reserve | 12 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
R E KNOWLES LIMITED (REGISTERED NUMBER: 00386921) |
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BALANCE SHEET - continued |
28 FEBRUARY 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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R E KNOWLES LIMITED (REGISTERED NUMBER: 00386921) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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1. | STATUTORY INFORMATION |
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R E Knowles Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Land | - |
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Buildings | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair |
value is recognised in profit or loss. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
R E KNOWLES LIMITED (REGISTERED NUMBER: 00386921) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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Fixed asset investments |
Investments held as fixed assets are stated at cost less any provisions for impairment. Investments are reviewed for |
impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable. |
Impairments are calculated such that the carrying value of the fixed asset investment is the lower of its cost or |
recoverable amount. Recoverable amount is the higher of its net realisable value and its value-in-use. |
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Deferred income |
Deferred income represents revenues collected but not earned as at the accounting reference date. It primarily |
comprises of revenue from rental income. When it is earned it is then credited to the profit and loss account. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Totals | Land | Buildings | machinery |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 March 2017 |
and 28 February 2018 |
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DEPRECIATION |
At 1 March 2017 |
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Charge for year |
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At 28 February 2018 |
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NET BOOK VALUE |
At 28 February 2018 |
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At 28 February 2017 |
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R E KNOWLES LIMITED (REGISTERED NUMBER: 00386921) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment |
£ | £ | £ |
COST OR VALUATION |
At 1 March 2017 |
and 28 February 2018 |
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DEPRECIATION |
At 1 March 2017 |
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Charge for year |
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At 28 February 2018 |
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NET BOOK VALUE |
At 28 February 2018 |
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At 28 February 2017 |
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Cost or valuation at 28 February 2018 is represented by: |
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Plant and |
Totals | Land | Buildings | machinery |
£ | £ | £ | £ |
Valuation in 2012 | 115,000 | 41,569 | 73,431 | - |
Cost | 79,383 | - | - | 64,191 |
194,383 | 41,569 | 73,431 | 64,191 |
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Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment |
£ | £ | £ |
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Cost | 2,585 | 5,987 | 6,620 |
2,585 | 5,987 | 6,620 |
R E KNOWLES LIMITED (REGISTERED NUMBER: 00386921) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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4. | TANGIBLE FIXED ASSETS - continued |
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If land and buildings had not been revalued they would have been included at the following historical cost: |
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28.2.18 | 28.2.17 |
£ | £ |
Cost | 41,451 | 41,451 |
Aggregate depreciation | 21,487 | 21,487 |
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Value of land in freehold land and buildings | 14,984 | 14,984 |
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Buildings were valued on an open market basis on 12 July 2012 by Andrew Dippnall (Frank Marshall LLP) BSc . |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1 March 2017 |
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Additions |
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Disposals | ( |
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Revaluations | ( |
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At 28 February 2018 |
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NET BOOK VALUE |
At 28 February 2018 |
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At 28 February 2017 |
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Cost or valuation at 28 February 2018 is represented by: |
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Other |
investments |
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Valuation in 2018 | 2,496,125 |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 March 2017 |
and 28 February 2018 |
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NET BOOK VALUE |
At 28 February 2018 |
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At 28 February 2017 |
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R E KNOWLES LIMITED (REGISTERED NUMBER: 00386921) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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6. | INVESTMENT PROPERTY - continued |
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The directors are of the belief that the current market value is not less than the 2012 valuation. |
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7. | STOCKS |
28.2.18 | 28.2.17 |
£ | £ |
Stock |
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8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.18 | 28.2.17 |
£ | £ |
Trade debtors |
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VAT |
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Prepayments |
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9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.18 | 28.2.17 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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Wages control | - | 521 |
Pensions control | 4 | - |
VAT | 4,444 | - |
Accrued expenses |
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Deferred income |
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10. | PROVISIONS FOR LIABILITIES |
28.2.18 | 28.2.17 |
£ | £ |
Deferred tax |
Accelerated capital allowances | 1,154 | 811 |
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Deferred |
tax |
£ |
Balance at 1 March 2017 |
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Deferred tax movement | 343 |
Balance at 28 February 2018 |
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R E KNOWLES LIMITED (REGISTERED NUMBER: 00386921) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 28.2.18 | 28.2.17 |
value: | £ | £ |
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Ordinary | £1 | 16,000 | 16,000 |
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12. | RESERVES |
Revaluation |
reserve |
£ |
At 1 March 2017 |
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Revaluation | (10,907 | ) |
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At 28 February 2018 |
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