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REGISTERED NUMBER: 04713684 (England and Wales)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 May 2023

for

KNFM Limited

KNFM Limited (Registered number: 04713684)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Report of the Director 2

Income Statement 3

Other Comprehensive Income 4

Balance Sheet 5

Statement of Changes in Equity 7

Notes to the Financial Statements 8


KNFM Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: N Smith





SECRETARY: Mrs D Smith





REGISTERED OFFICE: 236 Langley Way
West Wickham
Kent
BR4 0DU





REGISTERED NUMBER: 04713684 (England and Wales)





ACCOUNTANTS: M S Aulak Bsc CIPFA FCCA
Chartered Certified Accountant
25 Coolgardie Avenue
Chigwell
Essex
IG7 5AX

KNFM Limited (Registered number: 04713684)

Report of the Director
for the Year Ended 31 May 2023

The director presents his report with the financial statements of the company for the year ended 31 May 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of being financial advisors.

DIRECTOR
N Smith held office during the whole of the period from 1 June 2022 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs D Smith - Secretary


21 February 2024

KNFM Limited (Registered number: 04713684)

Income Statement
for the Year Ended 31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   

TURNOVER 159,332 179,000

Distribution costs 11,710 9,700
Administrative expenses 140,843 129,230
152,553 138,930
OPERATING PROFIT and
PROFIT BEFORE TAXATION 4 6,779 40,070

Tax on profit 5 1,381 7,864
PROFIT FOR THE FINANCIAL YEAR 5,398 32,206

KNFM Limited (Registered number: 04713684)

Other Comprehensive Income
for the Year Ended 31 May 2023

31.5.23 31.5.22
Notes £    £   

PROFIT FOR THE YEAR 5,398 32,206


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

5,398

32,206

KNFM Limited (Registered number: 04713684)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 - -
Tangible assets 8 2,423 3,250
2,423 3,250

CURRENT ASSETS
Debtors 9 6,000 6,437
Cash at bank 243,950 248,118
249,950 254,555
CREDITORS
Amounts falling due within one year 10 130,105 140,400
NET CURRENT ASSETS 119,845 114,155
TOTAL ASSETS LESS CURRENT
LIABILITIES

122,268

117,405

PROVISIONS FOR LIABILITIES 11 3,971 4,506
NET ASSETS 118,297 112,899

CAPITAL AND RESERVES
Called up share capital 12 204 204
Share premium 29,996 29,996
Retained earnings 13 88,097 82,699
SHAREHOLDERS' FUNDS 118,297 112,899

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

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

The director acknowledges his 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.

KNFM Limited (Registered number: 04713684)

Balance Sheet - continued
31 May 2023


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

The financial statements were approved by the director and authorised for issue on 21 February 2024 and were signed by:





N Smith - Director


KNFM Limited (Registered number: 04713684)

Statement of Changes in Equity
for the Year Ended 31 May 2023

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   

Balance at 1 June 2021 204 70,493 29,996 100,693

Changes in equity
Dividends - (20,000 ) - (20,000 )
Total comprehensive income - 32,206 - 32,206
Balance at 31 May 2022 204 82,699 29,996 112,899

Changes in equity
Total comprehensive income - 5,398 - 5,398
Balance at 31 May 2023 204 88,097 29,996 118,297

KNFM Limited (Registered number: 04713684)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

KNFM 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.

2. ACCOUNTING POLICIES

Basis of preparation
These financial statements have been prepared in accordance with Financial Reporting Standard 101 "Reduced Disclosure Framework" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 101 "Reduced Disclosure Framework":

the requirements of paragraphs 45(b) and 46 to 52 of IFRS 2 Share-based Payment;
the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii), B64(o)(ii),
B64(p), B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations;
the requirements of paragraph 33(c) of IFRS 5 Non Current Assets Held for Sale and Discontinued Operations;
the requirements of paragraph 24(6) of IFRS 6 Exploration for and Evaluation of Mineral Resources;
the requirements of IFRS 7 Financial Instruments: Disclosures;
the requirements of paragraphs 91 to 99 of IFRS 13 Fair Value Measurement;
the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS
16 Leases;
the requirements of paragraph 58 of IFRS 16;
the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c),
120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers;
the requirement in paragraph 38 of IAS 1 Presentation of Financial Statements to present comparative
information in respect of:
- paragraph 79(a)(iv) of IAS 1;
- paragraph 73(e) of IAS 16 Property, Plant and Equipment;
- paragraph 118(e) of IAS 38 Intangible Assets;
- paragraphs 76 and 79(d) of IAS 40 Investment Property; and
- paragraph 50 of IAS 41 Agriculture;
the requirements of paragraphs 10(d), 10)(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D and 111 of IAS 1
Presentation of Financial Statements;
the requirements of paragraphs 134 to 136 of IAS 1 Presentation of Financial Statements;
the requirements of IAS 7 Statement of Cash Flows;
the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and
Errors;
the requirements of paragraphs 17 and 18A of IAS 24 Related Party Disclosures;
the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between
two or more members of a group;
the requirements of paragraphs 134(d) to 134(f) and 135(c) to 135(e) of IAS 36 Impairments of Assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixture & fittings - 25% on reducing balance
Office equipment - 25% on reducing balance

Taxation
Current taxes are based on the results shown in the financial statements and are calculated according to local tax rules, using tax rates enacted or substantially enacted by the balance sheet date.

KNFM Limited (Registered number: 04713684)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Employee benefit costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
31.5.23 31.5.22
£    £   
Wages and salaries 25,110 23,100
Other pension costs 9,800 4,800
34,910 27,900

The average number of employees during the year was as follows:
31.5.23 31.5.22

Office administration 2 2

31.5.23 31.5.22
£    £   
Director's remuneration 13,400 13,400

4. PROFIT BEFORE TAXATION

The profit before taxation is stated after charging:
31.5.23 31.5.22
£    £   
Depreciation - owned assets 827 906

5. TAXATION

Analysis of tax expense
31.5.23 31.5.22
£    £   
Current tax:
Taxation on current year 1,381 7,864
Total tax expense in income statement 1,381 7,864

6. DIVIDENDS
31.5.23 31.5.22
£    £   
Ordinary shares of £1 each
Dividend paid - 20,000

KNFM Limited (Registered number: 04713684)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

7. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 110,000
AMORTISATION
At 1 June 2022
and 31 May 2023 110,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

8. TANGIBLE FIXED ASSETS
Fixture & Office
fittings equipment Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 9,512 14,011 23,523
DEPRECIATION
At 1 June 2022 8,756 11,517 20,273
Charge for year 203 624 827
At 31 May 2023 8,959 12,141 21,100
NET BOOK VALUE
At 31 May 2023 553 1,870 2,423
At 31 May 2022 756 2,494 3,250

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors - 27
Other debtors 6,000 6,410
6,000 6,437

KNFM Limited (Registered number: 04713684)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 243 259
Tax 1,381 7,864
Directors' current accounts 124,193 127,567
Accrued expenses 4,288 4,710
130,105 140,400

11. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Other provisions
Clawback provision 3,971 4,506

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
204 Ordinary £1 204 204

13. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 June 2022 82,699 29,996 112,695
Profit for the year 5,398 5,398
At 31 May 2023 88,097 29,996 118,093