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Registered Number: 13284243
England and Wales

 

 

 

KNIGHT INFINITY PROPERTY LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Directors Mark Knight
Susan Knight
Registered Number 13284243
Registered Office 6-7 Waterside
Station road
Harpenden
Hertfordshire
AL5 4US
Accountants Cubed Consultancy Limited
6-7 Waterside
Station Road
Harpenden
Hertfordshire
AL5 4US
1
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Knight Infinity Property Ltd for the year ended 31 March 2024.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Knight Infinity Property Ltd for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Knight Infinity Property Ltd , as a body, in accordance with the terms of our engagement letter dated 04 January 2022. Our work has been undertaken solely to prepare for your approval the accounts of Knight Infinity Property Ltd and state those matters that we have agreed to state to the Board of Directors of Knight Infinity Property Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Knight Infinity Property Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Knight Infinity Property Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Knight Infinity Property Ltd . You consider that Knight Infinity Property Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Knight Infinity Property Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts for the period ended 31 March 2024.



....................................................
Cubed Consultancy Limited
6-7 Waterside
Station Road
Harpenden
Hertfordshire
AL5 4US
30 August 2024
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 145,000    145,000 
145,000    145,000 
Current assets      
Cash at bank and in hand 5,159    2,527 
Creditors: amount falling due within one year 4 (47,248)   (46,112)
Net current assets (42,089)   (43,585)
 
Total assets less current liabilities 102,911    101,415 
Creditors: amount falling due after more than one year 5 (110,381)   (110,381)
Net assets (7,470)   (8,966)
 

Capital and reserves
     
Called up share capital 6 2    2 
Reserves 7   13,897 
Fair Value Reserves 8 (9,194)   (9,194)
Profit and loss account 1,722    (13,671)
Shareholders' funds (7,470)   (8,966)
 


For the 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.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 30 August 2024 and were signed on its behalf by:


-------------------------------
Mark Knight
Director
3
General Information
Knight Infinity Property Ltd is a private company, limited by shares, registered in England and Wales, registration number 13284243, registration address 6-7 Waterside, Station road, Harpenden, Hertfordshire, AL5 4US.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.


Investment property valuation was reviewed by the director at the year-end date of 31st March 2024.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 April 2023 145,000    145,000 
Additions  
Disposals  
At 31 March 2024 145,000    145,000 
Depreciation
At 01 April 2023  
Charge for year  
On disposals  
At 31 March 2024  
Net book values
Closing balance as at 31 March 2024 145,000    145,000 
Opening balance as at 01 April 2023 145,000    145,000 


4.

Creditors: amount falling due within one year

2024
£
  2023
£
Taxation and Social Security 344   
Other Creditors 46,904    46,112 
47,248    46,112 

5.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 110,381    110,381 
110,381    110,381 

6.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
2 Ordinary shares of £1.00 each  
 

7.

Reserves

2024
£
  2023
£
Transfer to Profit and Loss Account   13,897 
  13,897 

8.

Fair Value Reserves

2024
£
  2023
£
Fair Value Reserve (9,194)   (9,194)
(9,194)   (9,194)

9.

Secured Lending

There is a fixed charge secured on company assets. 
4