Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falsetrue2023-04-01No description of principal activityfalse11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11195388 2023-04-01 2024-03-31 11195388 2022-04-01 2023-03-31 11195388 2024-03-31 11195388 2023-03-31 11195388 c:Director1 2023-04-01 2024-03-31 11195388 d:OfficeEquipment 2023-04-01 2024-03-31 11195388 d:OfficeEquipment 2024-03-31 11195388 d:OfficeEquipment 2023-03-31 11195388 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11195388 d:ComputerEquipment 2023-04-01 2024-03-31 11195388 d:ComputerEquipment 2024-03-31 11195388 d:ComputerEquipment 2023-03-31 11195388 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11195388 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11195388 d:CurrentFinancialInstruments 2024-03-31 11195388 d:CurrentFinancialInstruments 2023-03-31 11195388 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11195388 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11195388 d:ShareCapital 2024-03-31 11195388 d:ShareCapital 2023-03-31 11195388 d:RetainedEarningsAccumulatedLosses 2024-03-31 11195388 d:RetainedEarningsAccumulatedLosses 2023-03-31 11195388 c:FRS102 2023-04-01 2024-03-31 11195388 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11195388 c:FullAccounts 2023-04-01 2024-03-31 11195388 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11195388 2 2023-04-01 2024-03-31 11195388 6 2023-04-01 2024-03-31 11195388 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 11195388










MATT KNIGHT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
MATT KNIGHT LIMITED
REGISTERED NUMBER: 11195388

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,531
3,932

Investments
 5 
150,000
-

  
154,531
3,932

Current assets
  

Debtors: amounts falling due within one year
 6 
11,609
1,829

Cash at bank and in hand
 7 
75,627
172,031

  
87,236
173,860

Creditors: amounts falling due within one year
 8 
(41,413)
(24,043)

Net current assets
  
 
 
45,823
 
 
149,817

  

Net assets
  
200,354
153,749


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
200,353
153,748

  
200,354
153,749


Page 1

 
MATT KNIGHT LIMITED
REGISTERED NUMBER: 11195388
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Matt Knight
Director

Date: 15 October 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
MATT KNIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Matt Knight Limited is a private company limited by shares, registered in England and Wales.The registered office is Cannon House, 438 Baddow Road, Chelmsford, Essex, CM2 9RB. 
The financial statements are presented in pound sterling which the functional currency of the Company and have been rounded to the nearest pound. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
MATT KNIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
straight line
Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
MATT KNIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Page 5

 
MATT KNIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 6

 
MATT KNIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Fixtures and fittings
Fixtures and computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
2,562
2,780
5,342


Additions
-
2,562
2,562



At 31 March 2024

2,562
5,342
7,904



Depreciation


At 1 April 2023
-
1,410
1,410


Charge for the year on owned assets
-
1,963
1,963



At 31 March 2024

-
3,373
3,373



Net book value



At 31 March 2024
2,562
1,969
4,531



At 31 March 2023
2,562
1,370
3,932

Page 7

 
MATT KNIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


Additions
150,000



At 31 March 2024
150,000





6.


Debtors

2024
2023
£
£


Trade debtors
9,844
874

Other debtors
1,765
955

11,609
1,829



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
75,627
172,031



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
37,514
21,637

Other taxation and social security
221
113

Other creditors
1,554
493

Accruals and deferred income
2,124
1,800

41,413
24,043


Page 8

 
MATT KNIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Related party transactions

At the balance sheet date, the Company owed the Director £1,554 (2023: £493) in respect of his Director's Loan Account. This amount is included within other creditors.


10.


Controlling party

The ultimate controlling party is Matt Knight, who owns 100% of the share capital of Matt Knight Limited. 

 
Page 9