REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
KNOWLEDGE TO ACTION LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
KNOWLEDGE TO ACTION LTD |
KNOWLEDGE TO ACTION LTD (REGISTERED NUMBER: 04840493) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
KNOWLEDGE TO ACTION LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
AUDITORS: |
Suite 3, Steeple House |
Church Lane |
Chelmsford |
Essex |
CM1 1NH |
KNOWLEDGE TO ACTION LTD (REGISTERED NUMBER: 04840493) |
BALANCE SHEET |
31 DECEMBER 2022 |
31/12/22 | 31/12/21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
KNOWLEDGE TO ACTION LTD (REGISTERED NUMBER: 04840493) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
1. | STATUTORY INFORMATION |
Knowledge To Action Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Turnover comprises revenue generated from training and coaching services, exclusive of Value Added Tax and trade discounts. |
These revenues are recognised upon attendance of a course or coaching session by the delegates in question, and so any advance payments are deferred in advance of this. All fees are to be paid in full in advance of attendance of any seminar or coaching session. |
Deposits held for a period in excess of twelve months will continue to be deferred, however a proportion will be recognised as turnover using a statistical model based on prior year trends for older deposits being converted into recognised income. |
Tangible fixed assets |
Plant and machinery etc | - |
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 non-puttable ordinary shares. |
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. |
KNOWLEDGE TO ACTION LTD (REGISTERED NUMBER: 04840493) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2. | 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. |
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. |
Going concern |
The company has reported an operating profit (after tax) for the year of £315,814 (2021: £667,927 ). There is a net liabilities position on the balance sheet amounting to £4,964,917 (2021: £5,280,731) |
These financial circumstances may cast doubt upon the company's ability to continue as a going concern. Considering the continued support of the director and ultimate group owner and the support of other connected and group entities, the director is satisfied that the company has adequate financial resources to continue as a going concern. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
KNOWLEDGE TO ACTION LTD (REGISTERED NUMBER: 04840493) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
5. | FIXED ASSET INVESTMENTS |
31/12/22 | 31/12/21 |
£ | £ |
Participating interests |
Other investments not loans |
Additional information is as follows: |
Interest |
in joint |
venture |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
Investments (neither listed nor unlisted) were as follows: |
31/12/22 | 31/12/21 |
£ | £ |
Art work | 120,000 | 120,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/22 | 31/12/21 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
KNOWLEDGE TO ACTION LTD (REGISTERED NUMBER: 04840493) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/22 | 31/12/21 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/12/22 | 31/12/21 |
£ | £ |
Taxation and social security |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/12/22 | 31/12/21 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1 January 2022 | ( |
) |
Profit for the year |
At 31 December 2022 | ( |
) |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
Material Uncertainty Relating to Going Concern |
We draw attention to Note 2 in the financial statements, which indicates that the company as at 31 December 2022, the company’s current liabilities exceeded its total assets by £4,964,917 . As stated in Note 2, these events or conditions, along with other matters as set forth in Note 2, indicate that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter. |
KNOWLEDGE TO ACTION LTD (REGISTERED NUMBER: 04840493) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
12. | RELATED PARTY DISCLOSURES |
The company is a 100% owned subsidiary of Knowledge to Action (Holdings) Limited, a company registered in England and Wales. In addition the company is related to the following fellow subsidiaries: |
Live Trading Floor Limited (registered in England and Wales) |
Investment Marketing Solutions Limited (registered in England and Wales) |
Learn to Trade Pty Limited (formerly Knowledge to Action Pty Limited, registered in Australia) |
Learn to Trade Limited (registered in England and Wales) |
FX Capital MA Limited (registered in England and Wales) |
In addition to the above, the director of the company G Secker was a related party to the company. |
Learn to Trade Pty Limited (registered in South Africa) is a company under common control. |
The Greg Secker Foundation (formerly The Knowledge to Action Foundation, registered in England and Wales), K2AF Trading Limited (registered in England and Wales), Learn to Trade International Holdings (registered in Cyprus) and Smart Charts (Malta) were all under the common control of G Secker. |
Global Success Summits Limited (registered in England and Wales), EMC Events (registered in England and Wales), and Learn to Trade Limited were both under common ownership and control of G Secker. Learn Trading LLP (registered in England and Wales) is under common ownership and control of G Secker, and Knowledge to Action Ltd is a corporate member of the LLP. |
G Secker was owed £793,027 from Knowledge to Action (2021: £1,038,494) as at the balance sheet date. |
Included debtors are the following balances that are owed from related parties. |
2022 | 2021 |
£ | £ |
Knowledge to action (holdings) | 1,541,957 | 1,535,419 |
FX Capital MA Limited | 633,675 | 542,009 |
Learn to trade uk Limited | 1,100 | 1,100 |
K2A South Africa | 344,045 |
Smart Charts Malta | - | 9,727,439 |
Schubi Computer Software Trading LLC | 39,654 | 39.654 |
K2A Foundation Charity | 193,368 | 186,568 |
K2A Foundation Trading | 41,097 | 37,459 |
Capital index Holdings | 26,028 | 25,318 |
Investment Marketing Solutions | 4,801 | 4,801 |
Learn to Trade International Holdings | 69,413 | 55,912 |
EMC Events | 254,125 | - |
3,149,263 | 12,155,679 |
Included creditors is the following balance owed by the company to the related party. |
KNOWLEDGE TO ACTION LTD (REGISTERED NUMBER: 04840493) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2022 | 2021 |
£ | £ |
K2A Aus LTT Pty | - | 5,947,952 |
Smart Charts Pty | - | 5,925,318 |
LTF Limited | 97,990 | 97,990 |
K2A South Africa | - | 5,133 |
Smart Charts Malta | 3,447,309 | 159,540 |
LTT Smartchart (Philippines) | 213,754 | 219,335 |
Capital Index (UK) Limited | 784,813 | 219,216 |
EmpowerU | 1,192,940 | 701,672 |
Capital Index Global Limited | 414,148 | - |
6,150,955 | 13,276,156 |
13. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. |
14. | ULTIMATE CONTROLLING PARTY |
The ultimate parent company of the group, Knowledge to Action (Holdings) Limited prepares consolidated financial statements, which are available from Companies House. These financial statements include the results of Knowledge to Action Ltd |