Knowledgefront Limited
Unaudited Financial Statements
For the year ended 31 March 2024
Pages for Filing with Registrar
Company Registration No. 07339820 (England and Wales)
Knowledgefront Limited
Company Information
Director
A L Marshall
Company number
07339820
Registered office
168 Brookfield Drive
Horley
Surrey
RH6 9TA
Accountants
Moore Kingston Smith LLP
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Knowledgefront Limited
Balance Sheet
As at 31 March 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,988
3,765
Current assets
Debtors
4
150,498
263,973
Cash at bank and in hand
2,247
2,634
152,745
266,607
Creditors: amounts falling due within one year
5
(127,691)
(194,403)
Net current assets
25,054
72,204
Total assets less current liabilities
27,042
75,969
Creditors: amounts falling due after more than one year
6
(119,345)
(73,647)
Net (liabilities)/assets
(92,303)
2,322
Capital and reserves
Called up share capital
7
200
200
Profit and loss reserves
(92,503)
2,122
Total equity
(92,303)
2,322

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Knowledgefront Limited
Balance Sheet (Continued)
As at 31 March 2024
Page 2
The financial statements were approved and signed by the director and authorised for issue on 7 October 2024
A L Marshall
Director
Company Registration No. 07339820
Knowledgefront Limited
Notes to the Financial Statements
For the year ended 31 March 2024
Page 3
1
Accounting policies
Company information

Knowledgefront Limited is a private company limited by shares incorporated in England and Wales. The registered office is 168 Brookfield Drive, Horley, Surrey, RH6 9TA.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover
Turnover represents amounts receivable for services net of VAT.
1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% Straight Line
Computer equipment
25% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as ‘other’ or financial instruments measured at fair value.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Knowledgefront Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
Page 4
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 4 (2023 - 4).

Knowledgefront Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
32,728
Additions
76
At 31 March 2024
32,804
Depreciation and impairment
At 1 April 2023
28,963
Depreciation charged in the year
1,853
At 31 March 2024
30,816
Carrying amount
At 31 March 2024
1,988
At 31 March 2023
3,765
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
17,306
157,152
Other debtors
133,192
106,821
150,498
263,973
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
22,657
38,643
Trade creditors
-
0
6,272
Corporation tax
35,472
65,318
Other taxation and social security
53,284
79,405
Other creditors
6,809
-
Accruals and deferred income
9,469
4,765
127,691
194,403

See note 6 for details on bank loan.

Knowledgefront Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 6
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Loans and overdrafts
119,345
73,647

The company had two loans in the year.

 

The first loan is secured by a personal guarantee provided by the Director and is repayable in full by monthly instalments up to and including January 2024. This loan is subject to a fixed rate of 10.90%.

 

The second loan is a Bounce Back Loan, supported by the Bounce Back Loan Scheme, and is secured by a guarantee from the UK Government under Bounce Back Loan Scheme Guarantee. The loan is repayable in instalments up to and including May 2030. Interest is payable at 2.5% per annum.

7
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
Ordinary shares of £1 each
200
200
8
Director's transactions

Total dividends paid to directors in the year were £nil (2023 - £89,000).

 

Included within other debtors at the year end is an amount of £103,400 (2023 - £77,029) due from A L Marshall.

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