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REGISTERED NUMBER: 03620002 (England and Wales)















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: D.R. Clarke
L.E. Field





REGISTERED OFFICE: Global House
303 Ballards Lane
London
N12 8NP





REGISTERED NUMBER: 03620002 (England and Wales)





ACCOUNTANTS: K J Pittalis and Partners LLP
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 3,195,000 3,195,000

CURRENT ASSETS
Debtors 5 100,139 87,286
Cash at bank 22,338 34,432
122,477 121,718
CREDITORS
Amounts falling due within one year 6 (35,951 ) (35,404 )
NET CURRENT ASSETS 86,526 86,314
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,281,526

3,281,314

CREDITORS
Amounts falling due after more than one
year

7

(1,591,245

)

(1,615,050

)

PROVISIONS FOR LIABILITIES 9 (429,746 ) (429,746 )
NET ASSETS 1,260,535 1,236,518

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value revaluation 11 1,289,238 1,289,238
Retained earnings (28,803 ) (52,820 )
SHAREHOLDERS' FUNDS 1,260,535 1,236,518

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 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.

KNAVE MANAGEMENT LIMITED (REGISTERED NUMBER: 03620002)

Statement of Financial Position - continued
31 AUGUST 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2024 and were signed on its behalf by:





D.R. Clarke - Director


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 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 preparing the financial statements
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 as modified by the revaluation of certain assets.

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 2 (2023 - 2 ) .

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 3,195,000
NET BOOK VALUE
At 31 August 2024 3,195,000
At 31 August 2023 3,195,000

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 100,139 87,286

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Bank loans and overdrafts 33,245 33,245
PAYE 66 (241 )
Accrued expenses 2,640 2,400
35,951 35,404

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/8/24 31/8/23
£    £   
Bank loans more 5 yr by instalments 1,591,245 1,615,050

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 1,624,490 1,648,295

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 429,746
Deferred tax
Balance at 31 August 2024 429,746

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/8/24 31/8/23
value: £    £   
100 Ordinary 1 100 100

11. RESERVES
Fair
value
revaluation
£   
At 1 September 2023
and 31 August 2024 1,289,238

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.