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K2N LTD.

Registered Number
04953598
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2024

K2N LTD.
Company Information
for the year from 1 December 2023 to 30 November 2024

Director

Ian Knight

Registered Address

Unit 3 Uphall Farm
Salmons Lane
Colchester
CO6 1RY

Place of Business

128 Westbourne Road

Penarth

CF64 3HH


Registered Number

04953598 (England and Wales)
K2N LTD.
Balance Sheet as at
30 November 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets396,627106,330
96,627106,330
Current assets
Debtors455518,779
Cash at bank and on hand163,069127,486
163,624146,265
Creditors amounts falling due within one year5(20,487)(9,668)
Net current assets (liabilities)143,137136,597
Total assets less current liabilities239,764242,927
Net assets239,764242,927
Capital and reserves
Called up share capital9,4109,410
Share premium70,80070,800
Profit and loss account159,554162,717
Shareholders' funds239,764242,927
The financial statements were approved and authorised for issue by the Director on 14 July 2025, and are signed on its behalf by:
Ian Knight
Director
Registered Company No. 04953598
K2N LTD.
Notes to the Financial Statements
for the year ended 30 November 2024

1.Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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.
Defined contribution pension plan
The company makes payments into a defined contribution pension plan for the benefit of its directors and employees. Contributions are recognised as an expense in the accounts as incurred. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except when it relates to 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.
Tangible fixed assets and depreciation
Tangible assets are stated in the balance sheet 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 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:

Straight line (years)
Fixtures and fittings5
Vehicles5
Office Equipment3
Trade and other debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year87
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 December 23137,055
Additions23,899
At 30 November 24154,806
Depreciation and impairment
At 01 December 2330,725
Charge for year33,602
At 30 November 2458,179
Net book value
At 30 November 2496,627
At 30 November 23106,330
4.Debtors: amounts due within one year

2024

2023

££
Other debtors3918,779
Prepayments and accrued income516-
Total55518,779
5.Creditors: amounts due within one year

2024

2023

££
Taxation and social security9,056194
Other creditors10,2328,574
Accrued liabilities and deferred income1,199900
Total20,4879,668
6.Share capital
The company has issued share capital of 9,410 ordinary shares of £1 each, there have been no changes in the share capital for this year.