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REGISTERED NUMBER: 05451624 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Knowledgebrief Limited

Knowledgebrief Limited (Registered number: 05451624)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Knowledgebrief Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: J A Askew
J H Gowen
M D Wolstenholme





SECRETARY: J H Gowen





REGISTERED OFFICE: 85 Great Portland Street
London
W1W 7LT





REGISTERED NUMBER: 05451624 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE

Knowledgebrief Limited (Registered number: 05451624)

Balance Sheet
31 December 2023

2023 2022
as restated
Notes £ £
FIXED ASSETS
Intangible assets 4 2,778,784 2,410,319
Tangible assets 5 29,536 37,813
2,808,320 2,448,132

CURRENT ASSETS
Debtors 6 4,100,716 3,120,463
Cash at bank 392,694 -
4,493,410 3,120,463
CREDITORS
Amounts falling due within one year 7 (2,999,223 ) (3,469,117 )
NET CURRENT ASSETS/(LIABILITIES) 1,494,187 (348,654 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,302,507

2,099,478

CREDITORS
Amounts falling due after more than one year 8 (3,902,482 ) (1,946,951 )
NET ASSETS 400,025 152,527

CAPITAL AND RESERVES
Called up share capital 1,900 1,900
Capital redemption reserve 100 100
Retained earnings 398,025 150,527
SHAREHOLDERS' FUNDS 400,025 152,527

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 11 March 2024 and were signed on its behalf by:



J H Gowen - Director


Knowledgebrief Limited (Registered number: 05451624)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Knowledgebrief 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. ACCOUNTING POLICIES

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

Changes in accounting policies
During a previous year, the company adopted a policy of capitalising their research and development expenditure as this will lead to an inflow of economic benefits beyond the current financial year. As the items researched and developed will be sold in future accounting period, these will be amortised over an anticipated useful economic life of 8 years.

Turnover
Turnover represents amounts earned on contracts entered into, which is calculated on a monthly basis over the term of the contract as the learners obligation is fulfilled.

On signing a contract, the total amount is entered into contacted revenue within debtors for amounts due to the company. This debtor is reduced as the contract is fulfilled and following a monthly submission to the ESFA. A 20% retention is due at the end of the contract following the successful sign off of the end point assessment.

On signing the contract the amount is also posted to deferred income within creditors. This represents the proportion of the contracts where the obligation has not yet been fulfilled.

The business also services commercial clients who are billed and pay within normal credit terms.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Computer Equipment- 25% on reducing balance

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.

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.

Research and development
Expenditure on research and development is capitalised in the year it is incurred. This is then amortised over a useful economic life of 8 years.

Knowledgebrief Limited (Registered number: 05451624)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Distributions to equity holders
Dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the company's shareholders. These amounts are recognised in the statement of changes in equity.

Share capital
Ordinary shares are classed as equity.

Operating Leases
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Grant Income
Grant income in the year is solely made up government grants relating to the Coronavirus Job Retention Scheme (CJRS).

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1 January 2023 4,219,699
Additions 972,088
At 31 December 2023 5,191,787
AMORTISATION
At 1 January 2023 1,809,380
Charge for year 603,623
At 31 December 2023 2,413,003
NET BOOK VALUE
At 31 December 2023 2,778,784
At 31 December 2022 2,410,319

Knowledgebrief Limited (Registered number: 05451624)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 January 2023 81,734
Additions 1,275
At 31 December 2023 83,009
DEPRECIATION
At 1 January 2023 43,921
Charge for year 9,552
At 31 December 2023 53,473
NET BOOK VALUE
At 31 December 2023 29,536
At 31 December 2022 37,813

6. DEBTORS
2023 2022
as restated
£ £
Amounts falling due within one year:
Other debtors 3,837,892 2,809,834

Amounts falling due after more than one year:
Amounts recoverable on contract 262,824 310,629

Aggregate amounts 4,100,716 3,120,463

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£ £
Bank loans and overdrafts 733,624 1,875,337
Trade creditors 174,638 121,310
Taxation and social security 106,394 183,737
Other creditors 1,984,567 1,288,733
2,999,223 3,469,117

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
as restated
£ £
Bank loans 3,839,058 1,767,728
Other creditors 63,424 179,223
3,902,482 1,946,951

Knowledgebrief Limited (Registered number: 05451624)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
as restated
£ £
Bank loans 4,572,682 3,402,513

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
as restated
£ £
J H Gowen
Balance outstanding at start of year 58,652 39,756
Amounts advanced 160,020 55,900
Amounts repaid (108,610 ) (37,004 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 110,062 58,652

J A Askew
Balance outstanding at start of year 22,030 5,878
Amounts advanced 77,432 36,630
Amounts repaid (38,740 ) (20,478 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 60,722 22,030

M D Wolstenholme
Balance outstanding at start of year 33,374 21,627
Amounts advanced 157,520 48,500
Amounts repaid (108,488 ) (36,753 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 82,406 33,374

11. RELATED PARTY DISCLOSURES

Included within other debtors is a balance of £498,348 due from ITW Networks Limited a company in which Matthew Wolstenholme and Justin Gowen are directors and shareholders. (2022 - £598,048).

A recharge from KB Learning Limited to Knowledgebrief Limited was raised in the year totalling £100,000. (2022 £50,000).

12. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.