REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 August 2024 |
for |
KNAVE MANAGEMENT LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 August 2024 |
for |
KNAVE MANAGEMENT LIMITED |
KNAVE MANAGEMENT LIMITED (REGISTERED NUMBER: 03620002) |
Contents of the Financial Statements |
for the year ended 31 AUGUST 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
KNAVE MANAGEMENT LIMITED |
Company Information |
for the year ended 31 AUGUST 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Global House |
303 Ballards Lane |
London |
N12 8NP |
KNAVE MANAGEMENT LIMITED (REGISTERED NUMBER: 03620002) |
Statement of Financial Position |
31 AUGUST 2024 |
31/8/24 | 31/8/23 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Fair value revaluation | 11 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
KNAVE MANAGEMENT LIMITED (REGISTERED NUMBER: 03620002) |
Statement of Financial Position - continued |
31 AUGUST 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
KNAVE MANAGEMENT LIMITED (REGISTERED NUMBER: 03620002) |
Notes to the Financial Statements |
for the year ended 31 AUGUST 2024 |
1. | STATUTORY INFORMATION |
Knave Management Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rents received and are derived from the freehold premises owned by the company. |
Rents are recognised up to the year end date. |
Investment property |
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value an be measured reliably without undue cost or effort on an on-going basis is measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or less in the period in which they arise. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
KNAVE MANAGEMENT LIMITED (REGISTERED NUMBER: 03620002) |
Notes to the Financial Statements - continued |
for the year ended 31 AUGUST 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 September 2023 |
and 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
The directors consider that the present value of the properties is £3,195,000 based on an open market value. The deferred tax on the revaluation is £429,746 and is reflected in provisions for liabilities. |
The historical cost of the properties owned is £1,476,018. This includes improvement costs of £261,600. |
Fair value at 31 August 2024 is represented by: |
£ |
Valuation in 2016 | 35,000 |
Valuation in 2012 | 93,350 |
Valuation in 2004 | 682,250 |
Valuation in 2019 | 346,229 |
Valuation in 2020 | 319,953 |
Valuation in 2021 | 150,000 |
Valuation in 2023 | 92,200 |
Cost | 1,476,018 |
3,195,000 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/24 | 31/8/23 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/24 | 31/8/23 |
£ | £ |
Bank loans and overdrafts |
PAYE | ( |
) |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/8/24 | 31/8/23 |
£ | £ |
Bank loans more 5 yr by instalments |
KNAVE MANAGEMENT LIMITED (REGISTERED NUMBER: 03620002) |
Notes to the Financial Statements - continued |
for the year ended 31 AUGUST 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
31/8/24 | 31/8/23 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instalments | 1,591,245 | 1,615,050 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31/8/24 | 31/8/23 |
£ | £ |
Bank loans |
The bank loans, the aggregate total of which amount to £ 1,624,490 are interest only loans for twenty five years/twenty years repayable in November 2033 & April 2038, and are secured on the freehold premises owned by the company. |
9. | PROVISIONS FOR LIABILITIES |
31/8/24 | 31/8/23 |
£ | £ |
Deferred tax | 429,746 | 429,746 |
Deferred |
tax |
£ |
Balance at 1 September 2023 |
Deferred tax |
Balance at 31 August 2024 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/8/24 | 31/8/23 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
11. | RESERVES |
Fair |
value |
revaluation |
£ |
At 1 September 2023 |
and 31 August 2024 |
KNAVE MANAGEMENT LIMITED (REGISTERED NUMBER: 03620002) |
Notes to the Financial Statements - continued |
for the year ended 31 AUGUST 2024 |
12. | RELATED PARTY DISCLOSURES |
The directors current account was overdrawn by £76,186 (2023: £63,331) as at 31 August 2024. Interest was charged on the overdrawn account at a rate of 2.25%. |
13. | ULTIMATE CONTROLLING PARTY |
The directors control the company by virtue of their direct interest in the whole of the issued share capital. |