IRIS Accounts Production v23.3.1.45 04393123 Board of Directors Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure043931232022-03-31043931232023-03-31043931232022-04-012023-03-31043931232021-03-31043931232021-04-012022-03-31043931232022-03-3104393123ns16:EnglandWales2022-04-012023-03-3104393123ns15:PoundSterling2022-04-012023-03-3104393123ns11:Director12022-04-012023-03-3104393123ns11:Director22022-04-012023-03-3104393123ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3104393123ns11:SmallEntities2022-04-012023-03-3104393123ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3104393123ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3104393123ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3104393123ns11:FullAccounts2022-04-012023-03-3104393123ns11:RegisteredOffice2022-04-012023-03-3104393123ns6:CurrentFinancialInstruments2023-03-3104393123ns6:CurrentFinancialInstruments2022-03-3104393123ns6:Non-currentFinancialInstruments2023-03-3104393123ns6:Non-currentFinancialInstruments2022-03-3104393123ns6:ShareCapital2023-03-3104393123ns6:ShareCapital2022-03-3104393123ns6:RetainedEarningsAccumulatedLosses2023-03-3104393123ns6:RetainedEarningsAccumulatedLosses2022-03-3104393123ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-04-012023-03-3104393123ns6:FurnitureFittings2022-04-012023-03-3104393123ns6:ComputerEquipment2022-04-012023-03-3104393123ns6:LandBuildings2022-03-3104393123ns6:FurnitureFittings2022-03-3104393123ns6:ComputerEquipment2022-03-3104393123ns6:LandBuildings2022-04-012023-03-3104393123ns6:LandBuildings2023-03-3104393123ns6:FurnitureFittings2023-03-3104393123ns6:ComputerEquipment2023-03-3104393123ns6:LandBuildings2022-03-3104393123ns6:FurnitureFittings2022-03-3104393123ns6:ComputerEquipment2022-03-3104393123ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3104393123ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3104393123ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-03-3104393123ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-03-3104393123ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2023-03-3104393123ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2022-03-3104393123ns6:Secured2023-03-3104393123ns6:Secured2022-03-31
REGISTERED NUMBER: 04393123 (England and Wales)





9 KNOTS BUSINESS SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






9 KNOTS BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 04393123)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


9 KNOTS BUSINESS SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr B J Dispa
Mr D G Swann



REGISTERED OFFICE: 7 St John Street
Mansfield
Nottinghamshire
NG18 1QH



REGISTERED NUMBER: 04393123 (England and Wales)



ACCOUNTANTS: ApC
Chartered Accountants
7 St John Street
Mansfield
Nottinghamshire
NG18 1QH



BANKERS: Natwest
9 Church Street
Mansfield
Nottinghamshire
NG18 1HP

9 KNOTS BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 04393123)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 191,651 193,058

CURRENT ASSETS
Debtors 6 159,599 127,848
Cash at bank and in hand 296,212 263,197
455,811 391,045
CREDITORS
Amounts falling due within one year 7 69,255 66,964
NET CURRENT ASSETS 386,556 324,081
TOTAL ASSETS LESS CURRENT
LIABILITIES

578,207

517,139

CREDITORS
Amounts falling due after more than one
year

8

-

(51,449

)

PROVISIONS FOR LIABILITIES (1,830 ) (1,725 )
NET ASSETS 576,377 463,965

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 576,177 463,765
SHAREHOLDERS' FUNDS 576,377 463,965

9 KNOTS BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 04393123)

BALANCE SHEET - continued
31 MARCH 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:




Mr B J Dispa - Director



Mr D G Swann - Director


9 KNOTS BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 04393123)

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


1. STATUTORY INFORMATION

9 Knots Business Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value excluding Value Added Tax of software consultancy services and products provided to customers during the year. In respect of goods and services provided, all income is taken to profit and loss at the same point as the right to receive consideration has been acquired.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% straight line
Fixtures and fittings - 25% straight line
Computer equipment - 33% straight line

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.

Current or deferred taxation assets and liabilities are not discounted.

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.


9 KNOTS BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 04393123)

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


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial instruments
Financial instruments and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 13 ) .

9 KNOTS BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 04393123)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 197,101 11,214 23,808 232,123
Additions - 592 2,353 2,945
At 31 March 2023 197,101 11,806 26,161 235,068
DEPRECIATION
At 1 April 2022 10,944 7,697 20,424 39,065
Charge for year 1,824 616 1,912 4,352
At 31 March 2023 12,768 8,313 22,336 43,417
NET BOOK VALUE
At 31 March 2023 184,333 3,493 3,825 191,651
At 31 March 2022 186,157 3,517 3,384 193,058

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 141,717 111,466
Amounts owed by related parties 9,909 9,909
Other debtors 996 -
Prepayments and accrued income 6,977 6,473
159,599 127,848

9 KNOTS BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 04393123)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 4,839
Trade creditors 9,476 702
Amounts owed to related parties 6,477 6,477
Corporation tax 22,719 33,092
Social security and other taxes 11,333 10,070
VAT 11,594 5,617
Credit card 3,013 422
Accruals and deferred income 4,643 5,745
69,255 66,964

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years - 19,357
Bank loans more 5 yr by instal - 32,092
- 51,449

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 32,092

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 56,288

The loan is secured against the property it relates too.

9 KNOTS BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 04393123)

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


10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr B J Dispa.