Company Registration No. 7835353 (England and Wales)
Knox Fire & Security Limited
Unaudited accounts
for the year ended 31 January 2024
Knox Fire & Security Limited
Unaudited accounts
Contents
Knox Fire & Security Limited
Company Information
for the year ended 31 January 2024
Company Number
7835353 (England and Wales)
Registered Office
Kings Head House
15 London End
Beaconsfield
HP9 2HN
Accountants
Barnes & Scott
86-90 Paul Street
Shoreditch
London
EC2A 4NE
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Knox Fire & Security Limited for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Knox Fire & Security Limited for the year ended
31 January 2024 as set out on pages
5 -
9 from the company's 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Knox Fire & Security Limited, as a body, in accordance with the terms of our engagement letter dated 12 March 2014. Our work has been undertaken solely to prepare for your approval the accounts of Knox Fire & Security Limited and state those matters that we have agreed to state to the Board of Directors of Knox Fire & Security Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Knox Fire & Security Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Knox Fire & Security Limited 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 Knox Fire & Security Limited. You consider that Knox Fire & Security Limited 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 Knox Fire & Security Limited. 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.
Barnes & Scott
Chartered Accountants
86-90 Paul Street
Shoreditch
London
EC2A 4NE
31 October 2024
Knox Fire & Security Limited
Statement of financial position
as at 31 January 2024
Tangible assets
3,297
4,197
Cash at bank and in hand
509,893
789,873
Creditors: amounts falling due within one year
(534,529)
(464,523)
Net current assets
813,165
788,489
Total assets less current liabilities
824,716
792,686
Creditors: amounts falling due after more than one year
(61,542)
(121,039)
Provisions for liabilities
Net assets
762,349
670,850
Called up share capital
1
1
Profit and loss account
762,348
670,849
Shareholders' funds
762,349
670,850
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 October 2024 and were signed on its behalf by
Guy Briscoe
Director
Company Registration No. 7835353
Knox Fire & Security Limited
Notes to the Accounts
for the year ended 31 January 2024
Knox Fire & Security Limited is a private company, limited by shares, registered in England and Wales, registration number 7835353. The registered office is Kings Head House, 15 London End, Beaconsfield, HP9 2HN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Fixtures & fittings
25% Straight Line
Computer equipment
25% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. They are amortised over a period of 10 years
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Knox Fire & Security Limited
Notes to the Accounts
for the year ended 31 January 2024
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.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Taxation represents the sum of tax currently payable and deferred 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.
Prior year end adjustments
The profit before tax from the prior year has been restated from £678,756 to £293,541. This is due to a reduction of £385,215 in accrued income and has resulted in a similar decrease in turnover. The corporation tax has also been restated from £130,074 to £56,883 due to the lower profits.
4
Intangible fixed assets
Other
Knox Fire & Security Limited
Notes to the Accounts
for the year ended 31 January 2024
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 February 2023
651
15,500
4,903
13,579
34,633
Additions
-
-
-
2,184
2,184
At 31 January 2024
651
15,500
4,903
15,763
36,817
At 1 February 2023
641
13,950
4,132
11,713
30,436
Charge for the year
10
1,550
369
1,155
3,084
At 31 January 2024
651
15,500
4,501
12,868
33,520
At 31 January 2024
-
-
402
2,895
3,297
At 31 January 2023
10
1,550
771
1,866
4,197
Amounts falling due within one year
Trade debtors
26,254
411,797
Accrued income and prepayments
469,406
35,057
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
74,513
74,513
Trade creditors
394,499
257,235
Taxes and social security
33,191
77,049
Other creditors
14,028
6,255
Loans from directors
-
924
8
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
61,542
121,039
Allotted, called up and fully paid:
100 Ordinary shares of £0.01 each
1
1
Knox Fire & Security Limited
Notes to the Accounts
for the year ended 31 January 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan from director
(924)
397,873
147,074
249,875
(924)
397,873
147,074
249,875
The director loan will be repaid within nine months of year end.
11
Average number of employees
During the year the average number of employees was 6 (2023: 6).