Registered number
12565880
KNOWN ASSOCIATES LEGAL RECRUITMENT LTD
Filleted Accounts
30 April 2024
KNOWN ASSOCIATES LEGAL RECRUITMENT LTD
Registered number: 12565880
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 668 1,764
Current assets
Debtors 4 16,722 13,847
Cash at bank and in hand 55 3
16,777 13,850
Creditors: amounts falling due within one year 5 (23,398) (24,224)
Net current liabilities (6,621) (10,374)
Net liabilities (5,953) (8,610)
Capital and reserves
Called up share capital 100 100
Profit and loss account (6,053) (8,710)
Shareholders' funds (5,953) (8,610)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Cole
Director
Approved by the board on 27 January 2025
KNOWN ASSOCIATES LEGAL RECRUITMENT LTD
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Fixtures, fittings, tools and equipment over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 3,292
At 30 April 2024 3,292
Depreciation
At 1 May 2023 1,528
Charge for the year 1,096
At 30 April 2024 2,624
Net book value
At 30 April 2024 668
At 30 April 2023 1,764
4 Debtors 2024 2023
£ £
Trade debtors 238 6,000
Other debtors 16,484 7,847
16,722 13,847
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 50 2
Trade creditors 8,919 8,693
Taxation and social security costs 11,689 11,395
Other creditors 2,740 4,134
23,398 24,224
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
M Cole
Loan account 4,747 10,060 - 14,807
4,747 10,060 - 14,807
The loan is unsecured and repayable on demand. Interest is payable on the loan
7 Controlling party
The company is controlled by M Cole by virtue of his shareholding in the company.
8 Other information
KNOWN ASSOCIATES LEGAL RECRUITMENT LTD is a private company limited by shares and incorporated in England. Its registered office is:
Second Floor
2 The Waterhouse
Waterhouse Street
Hemel Hempstead
Hertfordshire
HP1 1ES
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