Registered number: 04914092 | ||||||||
FOR THE YEAR ENDED 31/12/2022 | ||||||||
Prepared By: | ||||||||
NB Lancaster & Co | ||||||||
Chartered Accountants | ||||||||
6 Brunswick Street | ||||||||
Carlisle | ||||||||
Cumbria | ||||||||
CA1 1PN |
McKnight and Son Builders Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/12/2022 | ||||||||
DIRECTORS | ||||||||
SECRETARY | ||||||||
Mrs D A Greenhow | ||||||||
REGISTERED OFFICE | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 04914092 | ||||||||
ACCOUNTANTS | ||||||||
NB Lancaster & Co | ||||||||
Chartered Accountants | ||||||||
6 Brunswick Street | ||||||||
Carlisle | ||||||||
Cumbria | ||||||||
CA1 1PN |
McKnight and Son Builders Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/12/2022 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
McKnight and Son Builders Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2022 | 2021 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 4 | |||||||||
Current Asset Investments | 5 | |||||||||
Cash at bank and in hand | ||||||||||
4,404,194 | 4,002,367 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT ASSETS | 1,568,863 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 7 | 32,694 | 16,689 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | ||||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | ||||||||||
Profit and loss account | 2,093,403 | 1,681,203 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
McKnight and Son Builders Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/12/2022 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Plant and Machinery | reducing balance 25% | |||||||
Motor Vehicles | reducing balance 25% |
1c. Stocks | ||||||||
Stocks are valued at the lower of cost and net estimated selling price less selling costs. Cost is based on average cost. For work in progress, cost is taken as the production cost which includes a proportion of attributable overheads. |
1d. Taxation | ||||||||
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
1e. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1f. Turnover | ||||||||
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts. Turnover is recognised upon the despatch or goods or the completion of services. |
McKnight and Son Builders Limited | ||||||||
1g. Leases | ||||||||
Assets held under hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. The interest element of payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease. |
2. TANGIBLE FIXED ASSETS | ||||||
Plant and | ||||||
Machinery | Motor Vehicles | Total | ||||
£ | £ | £ | ||||
Cost | ||||||
At 01/01/2022 | 211,698 | 129,628 | 341,326 | |||
Additions | 58,878 | - | 58,878 | |||
Disposals | (15,247) | - | (15,247) | |||
At 31/12/2022 | 255,329 | 129,628 | 384,957 | |||
Depreciation | ||||||
At 01/01/2022 | 141,194 | 54,354 | 195,548 | |||
Disposals | (10,925) | - | (10,925) | |||
For the year | 31,265 | 18,819 | 50,084 | |||
At 31/12/2022 | 161,534 | 73,173 | 234,707 | |||
Net Book Amounts | ||||||
At 31/12/2022 | 150,250 | |||||
At 31/12/2021 | 145,778 | |||||
3. STOCK | 2022 | 2021 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
Work in progress | ||||||
4. DEBTORS | 2022 | 2021 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 286,819 | 109,444 | ||||||
UK corporation tax | - | 1,724 | ||||||
Other debtors | 7,290 | - | ||||||
Prepayments | 61,730 | 51,119 | ||||||
355,839 | 162,287 | |||||||
McKnight and Son Builders Limited | ||||||||
5. CURRENT ASSET INVESTMENTS | ||||||||
2022 | 2021 | |||||||
£ | £ | |||||||
Other investments - Loans | 1,222,853 | 1,356,465 | ||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2022 | 2021 | |||||||
£ | £ | |||||||
UK corporation tax | 88,080 | - | ||||||
VAT | 127,624 | 1,919 | ||||||
Other tax and social security creditors | 21,498 | 37,331 | ||||||
Directors current account - R McKnight | - | 1,690 | ||||||
Directors current account - W R McKnight | 173,793 | 53,826 | ||||||
Credit card | 15,817 | 25,706 | ||||||
Hire purchase | 32,664 | 39,978 | ||||||
Trade creditors | 226,462 | 521,695 | ||||||
Other creditors | - | 9,000 | ||||||
Accruals | 15,562 | 16,420 | ||||||
Other creditors - Capital account in McKight & Son Builders partnership | 1,704,611 | 1,725,939 | ||||||
2,406,111 | 2,433,504 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2022 | 2021 | |||||||
£ | £ | |||||||
Hire purchase >1yr | 32,694 | 16,689 | ||||||
32,694 | 16,689 | |||||||
8. SECURED CREDITORS | ||||||||
2022 | 2021 | |||||||
£ | £ | |||||||
Amount of other creditors which are secured | 65,358 | 56,667 | ||||||
Hire purchase creditors are secured on the asset to which the liability relates. | ||||||||
McKnight and Son Builders Limited | ||||||||
9. EMPLOYEES | ||||||
2022 | 2021 | |||||
No. | No. | |||||
Average number of employees | 22 | |||||
10. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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11. ADDITIONAL INFORMATION | ||||||||
The company is a private company, registered in England & Wales and limited by shares. | ||||||||
The company's registered number is 04914092. | ||||||||
The company's registered office is McKnight House, Junction Street, Carlisle CA2 5WH. |