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REGISTERED NUMBER: SC645873 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 October 2024

for

KNOW-IT (GLOBAL) LTD

KNOW-IT (GLOBAL) LTD (REGISTERED NUMBER: SC645873)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KNOW-IT (GLOBAL) LTD

Company Information
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTOR: Mrs L Darcey Quigley





REGISTERED OFFICE: International House
Stanley Boulevard
Hamilton Technology Park
Glasgow
G72 0BN





REGISTERED NUMBER: SC645873 (Scotland)





ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

KNOW-IT (GLOBAL) LTD (REGISTERED NUMBER: SC645873)

Balance Sheet
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 261,455 305,097
Tangible assets 5 3,475 5,522
264,930 310,619

CURRENT ASSETS
Debtors 6 309,016 16,749
Cash at bank 1,012 7,100
310,028 23,849
CREDITORS
Amounts falling due within one year 7 2,916,295 2,172,430
NET CURRENT LIABILITIES (2,606,267 ) (2,148,581 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,341,337

)

(1,837,962

)

CREDITORS
Amounts falling due after more than one
year

8

35,087

57,257
NET LIABILITIES (2,376,424 ) (1,895,219 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (2,376,524 ) (1,895,319 )
SHAREHOLDERS' FUNDS (2,376,424 ) (1,895,219 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

KNOW-IT (GLOBAL) LTD (REGISTERED NUMBER: SC645873)

Balance Sheet - continued
31 OCTOBER 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 February 2025 and were signed by:





Mrs L Darcey Quigley - Director


KNOW-IT (GLOBAL) LTD (REGISTERED NUMBER: SC645873)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Know-It (Global) Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. During the year to 31 October 2024 the company incurred a loss of £481,205 (2023 : £606,296) and it's total liabilities exceeded its assets by £2,376,424 (2023 : £1,895,219).

The company is thus dependent on the continued financial support of the group to meets its day to day working capital requirements. On the basis of information available and from discussions with the director the company will be able to continue to operate and meet it's day to day working capital requirements. The director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result from the withdrawal of financial support.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on a straight line basis and 15% on a straight line basis

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


KNOW-IT (GLOBAL) LTD (REGISTERED NUMBER: SC645873)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2023
and 31 October 2024 436,529
AMORTISATION
At 1 November 2023 131,431
Charge for year 43,643
At 31 October 2024 175,074
NET BOOK VALUE
At 31 October 2024 261,455
At 31 October 2023 305,098

KNOW-IT (GLOBAL) LTD (REGISTERED NUMBER: SC645873)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023
and 31 October 2024 14,563
DEPRECIATION
At 1 November 2023 9,041
Charge for year 2,047
At 31 October 2024 11,088
NET BOOK VALUE
At 31 October 2024 3,475
At 31 October 2023 5,522

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 308,676 -
Other debtors 340 16,749
309,016 16,749

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 14,388 7,194
Trade creditors 47,718 59,813
Taxation and social security 94,577 85,528
Other creditors 2,759,612 2,019,895
2,916,295 2,172,430

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 18,287 33,107
Other creditors 16,800 24,150
35,087 57,257

KNOW-IT (GLOBAL) LTD (REGISTERED NUMBER: SC645873)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100