Registered number
05636454
Know Fire Limited
Filleted Accounts
30 November 2021
Know Fire Limited
Registered number: 05636454
Balance Sheet
as at 30 November 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 4,949 1,027
Current assets
Debtors 4 19,992 40,556
Cash at bank and in hand 56,350 12,701
76,342 53,257
Creditors: amounts falling due within one year 5 (10,542) (6,248)
Net current assets 65,800 47,009
Total assets less current liabilities 70,749 48,036
Provisions for liabilities (940) (195)
Net assets 69,809 47,841
Capital and reserves
Called up share capital 2 2
Profit and loss account 69,807 47,839
Shareholders' funds 69,809 47,841
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K S Parsons
Director
Approved by the board on 19 August 2022
Know Fire Limited
Notes to the Accounts
for the year ended 30 November 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Office Equipment
£
Cost
At 1 December 2020 1,369
Additions 5,686
At 30 November 2021 7,055
Depreciation
At 1 December 2020 342
Charge for the year 1,764
At 30 November 2021 2,106
Net book value
At 30 November 2021 4,949
At 30 November 2020 1,027
4 Debtors 2021 2020
£ £
Trade debtors - 40,556
Other debtors 19,992 -
19,992 40,556
5 Creditors: amounts falling due within one year 2021 2020
£ £
Trade creditors 2,362 -
Taxation and social security costs 7,360 5,528
Other creditors 820 720
10,542 6,248
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
K S Parsons
Directors Loan - 23,155 (3,163) 19,992
- 23,155 (3,163) 19,992
The Directors Loan has been repaid in full by 31st of August 2022.
7 Other information
Know Fire Limited is a private company limited by shares and incorporated in England. Its registered office is:
22 Culls Road
Normandy
Guildford
Surrey
GU3 2EP
Know Fire Limited 05636454 false 2020-12-01 2021-11-30 2021-11-30 VT Final Accounts April 2022 K S Parsons No description of principal activity 05636454 2019-12-01 2020-11-30 05636454 core:WithinOneYear 2020-11-30 05636454 core:ShareCapital 2020-11-30 05636454 core:RetainedEarningsAccumulatedLosses 2020-11-30 05636454 2020-12-01 2021-11-30 05636454 bus:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 05636454 bus:AuditExemptWithAccountantsReport 2020-12-01 2021-11-30 05636454 bus:Director40 2020-12-01 2021-11-30 05636454 1 2020-12-01 2021-11-30 05636454 2 2020-12-01 2021-11-30 05636454 core:PlantMachinery 2020-12-01 2021-11-30 05636454 bus:Director1 2020-12-01 2021-11-30 05636454 bus:Director1 1 2020-12-01 2021-11-30 05636454 countries:England 2020-12-01 2021-11-30 05636454 bus:FRS102 2020-12-01 2021-11-30 05636454 bus:FullAccounts 2020-12-01 2021-11-30 05636454 2021-11-30 05636454 core:WithinOneYear 2021-11-30 05636454 core:ShareCapital 2021-11-30 05636454 core:RetainedEarningsAccumulatedLosses 2021-11-30 05636454 core:PlantMachinery 2021-11-30 05636454 bus:Director1 1 2021-11-30 05636454 2020-11-30 05636454 core:PlantMachinery 2020-11-30 05636454 bus:Director1 1 2020-11-30 iso4217:GBP xbrli:pure