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REGISTERED NUMBER: 04713684 (England and Wales)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 May 2024

for

KNFM Limited

KNFM Limited (Registered number: 04713684)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Report of the Director 2

Income Statement 3

Other Comprehensive Income 4

Balance Sheet 5

Statement of Changes in Equity 7

Notes to the Financial Statements 8


KNFM Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: N Smith





SECRETARY: Mrs D Smith





REGISTERED OFFICE: 236 Langley Way
West Wickham
Kent
BR4 0DU





REGISTERED NUMBER: 04713684 (England and Wales)





ACCOUNTANTS: M S Aulak Bsc CIPFA FCCA
Chartered Certified Accountant
25 Coolgardie Avenue
Chigwell
Essex
IG7 5AX

KNFM Limited (Registered number: 04713684)

Report of the Director
for the Year Ended 31 May 2024

The director presents his report with the financial statements of the company for the year ended 31 May 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of being financial advisors.

DIRECTOR
N Smith held office during the whole of the period from 1 June 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs D Smith - Secretary


17 February 2025

KNFM Limited (Registered number: 04713684)

Income Statement
for the Year Ended 31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   

TURNOVER 160,661 159,332

Distribution costs 20,328 11,710
Administrative expenses 136,140 140,843
156,468 152,553
OPERATING PROFIT and
PROFIT BEFORE TAXATION 4 4,193 6,779

Tax on profit 5 814 1,381
PROFIT FOR THE FINANCIAL YEAR 3,379 5,398

KNFM Limited (Registered number: 04713684)

Other Comprehensive Income
for the Year Ended 31 May 2024

31.5.24 31.5.23
Notes £    £   

PROFIT FOR THE YEAR 3,379 5,398


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

3,379

5,398

KNFM Limited (Registered number: 04713684)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 - -
Tangible assets 8 2,742 2,423
2,742 2,423

CURRENT ASSETS
Debtors 9 - 6,000
Cash at bank 253,966 243,950
253,966 249,950
CREDITORS
Amounts falling due within one year 10 132,999 130,105
NET CURRENT ASSETS 120,967 119,845
TOTAL ASSETS LESS CURRENT
LIABILITIES

123,709

122,268

PROVISIONS FOR LIABILITIES 11 4,033 3,971
NET ASSETS 119,676 118,297

CAPITAL AND RESERVES
Called up share capital 12 204 204
Share premium 29,996 29,996
Retained earnings 13 89,476 88,097
SHAREHOLDERS' FUNDS 119,676 118,297

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

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

The director acknowledges his 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.

KNFM Limited (Registered number: 04713684)

Balance Sheet - continued
31 May 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 17 February 2025 and were signed by:





N Smith - Director


KNFM Limited (Registered number: 04713684)

Statement of Changes in Equity
for the Year Ended 31 May 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 June 2022 204 82,699 29,996 112,899

Changes in equity
Total comprehensive income - 5,398 - 5,398
Balance at 31 May 2023 204 88,097 29,996 118,297

Changes in equity
Dividends - (2,000 ) - (2,000 )
Total comprehensive income - 3,379 - 3,379
Balance at 31 May 2024 204 89,476 29,996 119,676

KNFM Limited (Registered number: 04713684)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

KNFM Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparation
These financial statements have been prepared in accordance with Financial Reporting Standard 101 "Reduced Disclosure Framework" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 101 "Reduced Disclosure Framework":

the requirements of paragraphs 45(b) and 46 to 52 of IFRS 2 Share-based Payment;
the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii), B64(o)(ii),
B64(p), B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations;
the requirements of paragraph 33(c) of IFRS 5 Non Current Assets Held for Sale and Discontinued Operations;
the requirements of paragraph 24(6) of IFRS 6 Exploration for and Evaluation of Mineral Resources;
the requirements of IFRS 7 Financial Instruments: Disclosures;
the requirements of paragraphs 91 to 99 of IFRS 13 Fair Value Measurement;
the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS
16 Leases;
the requirements of paragraph 58 of IFRS 16;
the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c),
120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers;
the requirement in paragraph 38 of IAS 1 Presentation of Financial Statements to present comparative
information in respect of:
- paragraph 79(a)(iv) of IAS 1;
- paragraph 73(e) of IAS 16 Property, Plant and Equipment;
- paragraph 118(e) of IAS 38 Intangible Assets;
- paragraphs 76 and 79(d) of IAS 40 Investment Property; and
- paragraph 50 of IAS 41 Agriculture;
the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134 to 136
of IAS 1;
the requirements of IAS 7 Statement of Cash Flows;
the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and
Errors;
the requirements of paragraphs 88C and 88D of IAS 12 Income Taxes;
the requirements of paragraph 74(b) of IAS 16;
the requirements of paragraphs 17 and 18A of IAS 24 Related Party Disclosures;
the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between
two or more members of a group;
the requirements of paragraphs 134(d) to 134(f) and 135(c) to 135(e) of IAS 36 Impairments of Assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixture & fittings - 25% on reducing balance
Office equipment - 25% on reducing balance

KNFM Limited (Registered number: 04713684)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Taxation
Current taxes are based on the results shown in the financial statements and are calculated according to local tax rules, using tax rates enacted or substantially enacted by the balance sheet date.

Employee benefit costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
31.5.24 31.5.23
£    £   
Wages and salaries 29,528 25,110
Other pension costs 22,300 9,800
51,828 34,910

The average number of employees during the year was as follows:
31.5.24 31.5.23

Office administration 2 2

31.5.24 31.5.23
£    £   
Director's remuneration 16,700 13,400

4. PROFIT BEFORE TAXATION

The profit before taxation is stated after charging:
31.5.24 31.5.23
£    £   
Depreciation - owned assets 722 827
Loss on disposal of fixed assets 590 -

5. TAXATION

Analysis of tax expense
31.5.24 31.5.23
£    £   
Current tax:
Taxation on current year 814 1,381
Total tax expense in income statement 814 1,381

KNFM Limited (Registered number: 04713684)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. DIVIDENDS
31.5.24 31.5.23
£    £   
Ordinary shares of £1 each
Dividend paid 2,000 -

7. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 110,000
AMORTISATION
At 1 June 2023
and 31 May 2024 110,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

8. TANGIBLE FIXED ASSETS
Fixture & Office
fittings equipment Totals
£    £    £   
COST
At 1 June 2023 9,512 14,011 23,523
Additions - 1,631 1,631
Disposals (6,200 ) (11,459 ) (17,659 )
At 31 May 2024 3,312 4,183 7,495
DEPRECIATION
At 1 June 2023 8,959 12,141 21,100
Charge for year 152 570 722
Eliminated on disposal (6,055 ) (11,014 ) (17,069 )
At 31 May 2024 3,056 1,697 4,753
NET BOOK VALUE
At 31 May 2024 256 2,486 2,742
At 31 May 2023 553 1,870 2,423

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors - 6,000

KNFM Limited (Registered number: 04713684)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 457 243
Tax 814 1,381
Directors' current accounts 128,156 124,193
Accrued expenses 3,572 4,288
132,999 130,105

11. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Other provisions
Clawback provision 4,033 3,971

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
204 Ordinary £1 204 204

13. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 June 2023 88,097 29,996 118,093
Profit for the year 3,379 3,379
Dividends (2,000 ) (2,000 )
At 31 May 2024 89,476 29,996 119,472