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Registration number: 06469123

Knights Training Academy Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 July 2024

 

Knights Training Academy Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Knights Training Academy Limited

(Registration number: 06469123)
Statement of Financial Position as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

18,426

13,116

Current assets

 

Debtors

5

1,366,599

1,097,649

Cash at bank and in hand

 

249,629

1,516

 

1,616,228

1,099,165

Creditors: Amounts falling due within one year

6

(854,490)

(691,673)

Net current assets

 

761,738

407,492

Total assets less current liabilities

 

780,164

420,608

Creditors: Amounts falling due after more than one year

6

(8,331)

(18,332)

Provisions for liabilities

(4,607)

(3,279)

Net assets

 

767,226

398,997

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

766,226

397,997

Shareholders' funds

 

767,226

398,997

For the financial year ending 31 July 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 19 March 2025
 

 

Knights Training Academy Limited

(Registration number: 06469123)
Statement of Financial Position as at 31 July 2024

.........................................
Y E Worner
Director

 

Knights Training Academy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY, England.

The principal place of business is: Security House, Trafalgar Way, Camberley, Surrey, GU15 3BN, .

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Knights Training Academy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fittings, fixtures and equipment

25% reducing balance

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Knights Training Academy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 43 (2023 - 40).

4

Tangible assets

Fixtures, fittings and equipment
£

Total
£

Cost or valuation

At 1 August 2023

23,519

23,519

Additions

12,037

12,037

Disposals

(2,622)

(2,622)

At 31 July 2024

32,934

32,934

Depreciation

At 1 August 2023

10,403

10,403

Charge for the year

6,152

6,152

Eliminated on disposal

(2,047)

(2,047)

At 31 July 2024

14,508

14,508

Carrying amount

At 31 July 2024

18,426

18,426

At 31 July 2023

13,116

13,116

5

Debtors

2024
£

2023
£

Trade debtors

124,622

78,340

Other debtors

671,532

621,945

Prepayments

26,884

23,294

Accrued income

543,561

374,070

1,366,599

1,097,649

 

Knights Training Academy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Bank loans and overdrafts

7

10,000

10,000

Trade creditors

 

161,987

133,041

Taxation and social security

 

400,396

282,495

Accruals and deferred income

 

29,537

42,265

Other creditors

 

252,570

223,872

 

854,490

691,673

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

7

8,331

18,332

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

8,331

18,332

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

 

Knights Training Academy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Related party transactions

By a deed dated 30 October 2022 the company adhered to a commercial incentive scheme under trust. During the accounting period the company contributed £143,000 to the Scheme. No taxation liability arose to the company as a result of such transaction.

Interest has been charged on the director's loan account at the HMRC official interest rate.

Transactions with the director

2024

At 1 August 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

Loans to director

278,898

156,359

(115,000)

320,257

-

-

-

-

 

278,898

156,359

(115,000)

320,257

       

 

2023

At 1 August 2022
£

Advances to director
£

Repayments by director
£

At 31 July 2023
£

Loans to director

176,477

112,733

(10,312)

278,898

 

176,477

112,733

(10,312)

278,898