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Company No: 04997905 (England and Wales)

KNOTT ANOTHER MORTGAGE ADVISER LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

KNOTT ANOTHER MORTGAGE ADVISER LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

KNOTT ANOTHER MORTGAGE ADVISER LIMITED

BALANCE SHEET

As at 30 June 2024
KNOTT ANOTHER MORTGAGE ADVISER LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 512 2,081
512 2,081
Current assets
Debtors 4 137,391 200,405
137,391 200,405
Creditors: amounts falling due within one year 5 ( 99,905) ( 124,033)
Net current assets 37,486 76,372
Total assets less current liabilities 37,998 78,453
Creditors: amounts falling due after more than one year 6 ( 26,756) ( 52,185)
Provision for liabilities 0 ( 520)
Net assets 11,242 25,748
Capital and reserves
Called-up share capital 7 1 1
Profit and loss account 11,241 25,747
Total shareholder's funds 11,242 25,748

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Knott Another Mortgage Adviser Limited (registered number: 04997905) were approved and authorised for issue by the Director on 09 October 2024. They were signed on its behalf by:

Mr A M Knott
Director
KNOTT ANOTHER MORTGAGE ADVISER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
KNOTT ANOTHER MORTGAGE ADVISER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Knott Another Mortgage Adviser Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom. The principal place of business is 2nd Floor, Berkeley Square House, Berkeley Square, London, W1J 6BD.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight line basis over its expected useful life, as follows:

Fixtures and fittings 4 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 3 3

3. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 July 2023 4,377 17,394 21,771
Disposals ( 3,592) ( 8,720) ( 12,312)
At 30 June 2024 785 8,674 9,459
Accumulated depreciation
At 01 July 2023 4,377 15,313 19,690
Charge for the financial year 0 1,569 1,569
Disposals ( 3,592) ( 8,720) ( 12,312)
At 30 June 2024 785 8,162 8,947
Net book value
At 30 June 2024 0 512 512
At 30 June 2023 0 2,081 2,081

4. Debtors

2024 2023
£ £
Trade debtors 25,180 51,292
Other debtors 112,211 149,113
137,391 200,405

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 16,522 12,210
Trade creditors 41,384 40,750
Other loans 22,500 36,500
Accruals 3,445 3,500
Taxation and social security 16,054 31,073
99,905 124,033

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 8,472 11,401
Other creditors 18,284 40,784
26,756 52,185

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

8. Related party transactions

Transactions with the entity's director

2024 2023
£ £
At 1 July 2023 106,194 121,886
Advances made during the year 71,039 55,708
Repayments made during the year (103,347) (71,400)
At 30 June 2024 73,886 106,194

During the year, the company operated a loan account with its director. The loan is repayable upon demand and interest is charged at the rate stipulated by HMRC.