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REGISTERED NUMBER: 07122210 (England and Wales)















Unaudited Financial Statements for the Year Ended 5 April 2024

for

KNS Financial Planning Ltd

KNS Financial Planning Ltd (Registered number: 07122210)






Contents of the Financial Statements
for the Year Ended 5 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


KNS Financial Planning Ltd (Registered number: 07122210)

Balance Sheet
5 April 2024

5.4.24 5.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,523 45,095

CURRENT ASSETS
Debtors 5 12,637 20,327
Cash at bank 108,624 109,680
121,261 130,007
CREDITORS
Amounts falling due within one year 6 53,938 42,186
NET CURRENT ASSETS 67,323 87,821
TOTAL ASSETS LESS CURRENT
LIABILITIES

105,846

132,916

PROVISIONS FOR LIABILITIES 6,918 8,152
NET ASSETS 98,928 124,764

CAPITAL AND RESERVES
Called up share capital 160 160
Retained earnings 98,768 124,604
98,928 124,764

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

KNS Financial Planning Ltd (Registered number: 07122210)

Balance Sheet - continued
5 April 2024


The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2024 and were signed on its behalf by:





S A Braithwaite - Director


KNS Financial Planning Ltd (Registered number: 07122210)

Notes to the Financial Statements
for the Year Ended 5 April 2024

1. STATUTORY INFORMATION

KNS Financial Planning Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07122210

Registered office: Lowther House
Lowther Street
Kendal
LA9 4DX

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 20% on cost
Plant and machinery etc - 25% on cost, 20% on cost and 10% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates defined contribution pension schemes. Contributions payable to the company's pension schemes are charged to profit or loss in the period to which they relate.

KNS Financial Planning Ltd (Registered number: 07122210)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 6 April 2023 4,634 72,642 77,276
Additions - 2,036 2,036
At 5 April 2024 4,634 74,678 79,312
DEPRECIATION
At 6 April 2023 3,319 28,862 32,181
Charge for year 926 7,682 8,608
At 5 April 2024 4,245 36,544 40,789
NET BOOK VALUE
At 5 April 2024 389 38,134 38,523
At 5 April 2023 1,315 43,780 45,095

5. DEBTORS
5.4.24 5.4.23
£    £   
Amounts falling due within one year:
Trade debtors 247 7,674
Other debtors 4,568 4,831
4,815 12,505

Amounts falling due after more than one year:
Trade debtors 7,822 7,822

Aggregate amounts 12,637 20,327

Positive Solutions hold back commission earned on indemnity cases and is payable when the potential liability expires.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.24 5.4.23
£    £   
Taxation and social security 43,240 31,773
Other creditors 10,698 10,413
53,938 42,186

7. COMMITMENTS

Total amount of commitments guarantees and contingencies is £8,769