2 false false false false false false false false false false true false false false false true true false 2023-05-01 Sage Accounts Production Advanced 2024 - FRS102_2024 975,000 558,352 48,750 607,102 367,898 416,648 xbrli:pure xbrli:shares iso4217:EUR 05106425 2023-05-01 2024-04-30 05106425 2024-04-30 05106425 2023-04-30 05106425 2022-05-01 2023-04-30 05106425 2023-04-30 05106425 2022-04-30 05106425 core:PlantMachinery 2023-05-01 2024-04-30 05106425 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 05106425 bus:Director1 2023-05-01 2024-04-30 05106425 bus:CompanySecretary1 2023-05-01 2024-04-30 05106425 core:WithinOneYear 2024-04-30 05106425 core:WithinOneYear 2023-04-30 05106425 core:PlantMachinery 2023-04-30 05106425 core:PlantMachinery 2024-04-30 05106425 core:OtherReservesSubtotal 2022-05-01 2023-04-30 05106425 core:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 05106425 core:OtherReservesSubtotal 2023-05-01 2024-04-30 05106425 core:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 05106425 core:ShareCapital 2024-04-30 05106425 core:ShareCapital 2023-04-30 05106425 core:OtherReservesSubtotal 2024-04-30 05106425 core:OtherReservesSubtotal 2023-04-30 05106425 core:RetainedEarningsAccumulatedLosses 2024-04-30 05106425 core:RetainedEarningsAccumulatedLosses 2023-04-30 05106425 core:ShareCapital 2022-04-30 05106425 core:OtherReservesSubtotal 2022-04-30 05106425 core:RetainedEarningsAccumulatedLosses 2022-04-30 05106425 core:PlantMachinery 2023-04-30 05106425 bus:SmallEntities 2023-05-01 2024-04-30 05106425 bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 05106425 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 05106425 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05106425 bus:FullAccounts 2023-05-01 2024-04-30 05106425 bus:OrdinaryShareClass1 2024-04-30 05106425 bus:OrdinaryShareClass1 2023-04-30
COMPANY REGISTRATION NUMBER: 05106425
KNIGHTOAK LIMITED
Unaudited Financial Statements
30 April 2024
KNIGHTOAK LIMITED
Financial Statements
Year ended 30 April 2024
Contents
Page
Director's report
1
Income statement
2
Statement of financial position
3
Statement of changes in equity
4
Notes to the financial statements
5
KNIGHTOAK LIMITED
Director's Report
Year ended 30 April 2024
The director presents his report and the unaudited financial statements of the company for the year ended 30 April 2024 .
Principal activities
The principal activity of the company during the year was that of shipowning company / ownership and operation of a motor yacht.
Director
The director who served the company during the year was as follows:
Mr Anthony Inder Rieden
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 11 December 2024 and signed on behalf of the board by:
Mr Anthony Inder Rieden
Fiduci-Corp (UK) Services Limited
Director
Company Secretary
KNIGHTOAK LIMITED
Income Statement
Year ended 30 April 2024
2024
2023
Note
Administrative expenses
( 381,671)
( 320,205)
---------
---------
Operating loss
( 381,671)
( 320,205)
Interest payable and similar expenses
( 10)
( 20)
---------
---------
Loss before taxation
5
( 381,681)
( 320,225)
Tax on loss
---------
---------
Loss for the financial year
( 381,681)
( 320,225)
---------
---------
All the activities of the company are from continuing operations.
KNIGHTOAK LIMITED
Statement of Financial Position
30 April 2024
2024
2023
Note
Fixed assets
Tangible assets
6
367,898
416,648
Current assets
Debtors
7
19,683
9,486
Cash at bank and in hand
116,954
79,472
---------
--------
136,637
88,958
Creditors: amounts falling due within one year
8
2,402
2,605
---------
--------
Net current assets
134,235
86,353
---------
---------
Total assets less current liabilities
502,133
503,001
---------
---------
Net assets
502,133
503,001
---------
---------
Capital and reserves
Called up share capital
9
1,505
1,505
Shareholder contribution reserve
10
9,415,999
9,035,186
Profit and loss account
10
( 8,915,371)
( 8,533,690)
------------
------------
Shareholders funds
502,133
503,001
------------
------------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 April 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 December 2024 , and are signed on behalf of the board by:
Mr Anthony Inder Rieden
Director
Company registration number: 05106425
KNIGHTOAK LIMITED
Statement of Changes in Equity
Year ended 30 April 2024
Called up share capital
Shareholder contribution reserve
Profit and loss account
Total
At 1 May 2022
1,505
8,793,073
( 8,213,465)
581,113
Loss for the year
( 320,225)
( 320,225)
Other comprehensive income for the year:
Addition to shareholder reserve
242,113
242,113
-------
------------
------------
---------
Total comprehensive income for the year
242,113
( 320,225)
( 78,112)
At 30 April 2023
1,505
9,035,186
( 8,533,690)
503,001
Loss for the year
( 381,681)
( 381,681)
Other comprehensive income for the year:
Addition to shareholder reserve
380,813
380,813
-------
------------
------------
---------
Total comprehensive income for the year
380,813
( 381,681)
( 868)
-------
------------
------------
---------
At 30 April 2024
1,505
9,415,999
( 8,915,371)
502,133
-------
------------
------------
---------
KNIGHTOAK LIMITED
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is St Georges House, 6th floor, 15 Hanover Square, London, W1S 1HS, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements are prepared in euro, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
5% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2024
2023
Depreciation of tangible assets
48,750
48,750
--------
--------
6. Tangible assets
Plant and machinery
Total
Cost
At 1 May 2023 and 30 April 2024
975,000
975,000
---------
---------
Depreciation
At 1 May 2023
558,352
558,352
Charge for the year
48,750
48,750
---------
---------
At 30 April 2024
607,102
607,102
---------
---------
Carrying amount
At 30 April 2024
367,898
367,898
---------
---------
At 30 April 2023
416,648
416,648
---------
---------
7. Debtors
2024
2023
Prepayments and accrued income
19,683
9,486
--------
-------
8. Creditors: amounts falling due within one year
2024
2023
Trade creditors
226
493
Accruals and deferred income
2,176
2,112
-------
-------
2,402
2,605
-------
-------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
No.
Ordinary shares of € 1.505 each
1,000
1,505
1,000
1,505
-------
-------
-------
-------
10. Reserves
Shareholders contribution reserve - This reserve records shareholder's funds. Profit and loss account - This reserve records retained earnings and accumulated losses.
11. Related party transactions
The company was under the control of Mrs Mariana Fix thoughtout the current year. Mrs Mariana Fix is the sole shareholder.