Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31truefalse2022-04-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false1No description of principal activity1 SC584792 2022-04-01 2023-03-31 SC584792 2021-04-01 2022-03-31 SC584792 2023-03-31 SC584792 2022-03-31 SC584792 c:Director1 2022-04-01 2023-03-31 SC584792 c:RegisteredOffice 2022-04-01 2023-03-31 SC584792 d:CurrentFinancialInstruments 2023-03-31 SC584792 d:CurrentFinancialInstruments 2022-03-31 SC584792 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC584792 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 SC584792 d:ShareCapital 2023-03-31 SC584792 d:ShareCapital 2022-03-31 SC584792 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC584792 d:RetainedEarningsAccumulatedLosses 2022-03-31 SC584792 c:OrdinaryShareClass1 2022-04-01 2023-03-31 SC584792 c:OrdinaryShareClass1 2023-03-31 SC584792 c:OrdinaryShareClass1 2022-03-31 SC584792 c:FRS102 2022-04-01 2023-03-31 SC584792 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 SC584792 c:FullAccounts 2022-04-01 2023-03-31 SC584792 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC584792










KNOVATEGIC LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 
KNOVATEGIC LTD
 

COMPANY INFORMATION


Director
Mr G Lightbody 




Registered number
SC584792



Registered office
54 Cricketfield Place
Armadale

West Lothian

EH48 2GB




Accountants
EQ Accountants LLP
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
KNOVATEGIC LTD
REGISTERED NUMBER: SC584792

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
11,795
8,992

Cash at bank and in hand
  
245,691
232,758

  
257,486
241,750

Creditors: amounts falling due within one year
 5 
(6,825)
(17,693)

Net current assets
  
 
 
250,661
 
 
224,057

Total assets less current liabilities
  
250,661
224,057

  

Net assets
  
250,661
224,057


Capital and reserves
  

Called up share capital 
 6 
1
1

Profit and loss account
  
250,660
224,056

  
250,661
224,057


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 September 2023.




Mr G Lightbody
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
KNOVATEGIC LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Knovategic Ltd is limited by shares and incorporated in Scotland with registration number SC584792. The address of the registered office is 54 Cricketfield Place, Armadale, West Lothian, EH48 2GB.
The financial statements are presented in Sterling which is the functional currency of the Company and, rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 2

 
KNOVATEGIC LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Debtors

2023
2022
£
£


Trade debtors
10,900
7,780

Other debtors
895
1,212

11,795
8,992


Included within other debtors due within one year there is a loan to Mr G Lightbody, a director, amounting to £895 (2022 - £1,212). This loan is interest free and has no fixed terms of repayment.



Page 3

 
KNOVATEGIC LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
6,525
17,693

Accruals and deferred income
300
-

6,825
17,693



6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



Page 4