Company Registration No. 07573164 (England and Wales)
Knockton and Co Limited
Unaudited accounts
for the year ended 31 March 2020
Knockton and Co Limited
Unaudited accounts
Contents
Knockton and Co Limited
Company Information
for the year ended 31 March 2020
Directors
Matthew Knockton
Sarah Knockton
Company Number
07573164 (England and Wales)
Registered Office
39 GAY STREET
BATH
BA1 2NT
ENGLAND
Accountants
Inni Corporation Limited
Innivation House
Trim Street
Bath
BA1 1HE
Knockton and Co Limited
Statement of financial position
as at
31 March 2020
Cash at bank and in hand
121
120
Creditors: amounts falling due within one year
(16,665)
(29,957)
Net current assets
42,091
29,760
Total assets less current liabilities
42,372
30,366
Creditors: amounts falling due after more than one year
(89,628)
(70,761)
Provisions for liabilities
Net liabilities
(47,309)
(40,510)
Called up share capital
100
100
Profit and loss account
(47,409)
(40,610)
Shareholders' funds
(47,309)
(40,510)
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2022 and were signed on its behalf by
Matthew Knockton
Director
Company Registration No. 07573164
Knockton and Co Limited
Notes to the Accounts
for the year ended 31 March 2020
Knockton and Co Limited is a private company, limited by shares, registered in England and Wales, registration number 07573164. The registered office is 39 GAY STREET, BATH, BA1 2NT, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
4 Years useful life
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Knockton and Co Limited
Notes to the Accounts
for the year ended 31 March 2020
4
Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
5
Debtors: amounts falling due within one year
2020
2019
Debtors: amounts falling due after more than one year
Other debtors
58,635
59,597
6
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
2,091
11,696
Taxes and social security
471
471
Other creditors
12,303
14,190
7
Creditors: amounts falling due after more than one year
2020
2019
Loans from directors
86,628
70,761
Knockton and Co Limited
Notes to the Accounts
for the year ended 31 March 2020
8
Transactions with related parties
The following are all companies registered in England & Wales and are related parties under common directorship and control.
Beckfords Gate Ltd (09524439) - Transactions totalling £nil (2019: £nil) occurred during the year. At the year end an amount of £3,250 (2019: £3,250) was owed to the company in respect of these transactions.
Trim Street Apartments Ltd (10491110) - Transactions totalling £nil (2019: £544) occurred during the year. At the year end an amount of £15,651 (2019: £15,651) was owed to the company in respect of these transactions.
Westgate Apartments Ltd (10845901) - Transactions totalling £40 (2019: £596) occurred during the year. At the year end an amount of £12,934 (2019: £12,894) was owed to the company in respect of these transactions.
Hiding Space Ltd (10965249) - Transactions totalling -£1,840 (2019: £17,773) occurred during the year. At the year end an amount of £25,962 (2019: £27,802) was owed to the company in respect of these transactions.
TS Apartments Ltd (11693627) - Transactions totalling £40 (2019: £nil) occurred during the year. At the year end an amount of £40 (2019: £nil) was owed to the company in respect of these transactions.
Luxury Escapes Bath Ltd (09149891) - Transactions totalling £798 (2019: £nil) occurred during the year. At the year end an amount of £798 (2019: £nil) was owed to the company in respect of these transactions.
All transactions were entered into at an arms length basis with no specific repayment terms and attract no interest.
9
Average number of employees
During the year the average number of employees was 2 (2019: 2).