Company Registration No. 12447645 (England and Wales)
In The Know Ltd
Unaudited accounts
for the year ended 31 March 2024
In The Know Ltd
Unaudited accounts
Contents
In The Know Ltd
Company Information
for the year ended 31 March 2024
Directors
Helen Brown
Michael Joseph Taylor
Company Number
12447645 (England and Wales)
Registered Office
HQ Old Station Yard
Oxford Road, Marton
Rugby
CV23 9RU
England
Accountants
True North Accountancy Ltd
19 Forest Crescent
Illingworth
Halifax
West Yorkshire
HX2 8DS
In The Know Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
5,561
7,639
Cash at bank and in hand
8,307
7,339
Creditors: amounts falling due within one year
(27,448)
(27,308)
Net current liabilities
(16,920)
(17,724)
Net liabilities
(11,359)
(10,085)
Called up share capital
1
1
Profit and loss account
(11,360)
(10,086)
Shareholders' funds
(11,359)
(10,085)
For the year ending 31 March 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 directors acknowledge their 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 of Directors and authorised for issue on 22 October 2024 and were signed on its behalf by
Helen Brown
Director
Company Registration No. 12447645
In The Know Ltd
Notes to the Accounts
for the year ended 31 March 2024
In The Know Ltd is a private company, limited by shares, registered in England and Wales, registration number 12447645. The registered office is HQ Old Station Yard, Oxford Road, Marton, Rugby, CV23 9RU, England.
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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
33% Reducing Balance
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
In The Know Ltd
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
9,116
1,201
5,202
15,519
At 31 March 2024
9,116
1,201
5,202
15,519
At 1 April 2023
4,095
496
3,289
7,880
Charge for the year
1,255
192
631
2,078
At 31 March 2024
5,350
688
3,920
9,958
At 31 March 2024
3,766
513
1,282
5,561
At 31 March 2023
5,021
705
1,913
7,639
Amounts falling due within one year
Accrued income and prepayments
1,237
1,696
6
Creditors: amounts falling due within one year
2024
2023
Loans from directors
27,448
27,308
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
8
Average number of employees
During the year the average number of employees was 0 (2023: 1).