Registration number: 11971516

The Knights Foundation Limited

(Registration number: 11971516)
Statement of Financial Position as at 5 April 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	663	884
Current assets
Stocks	5	6,830	5,700
Debtors	6	23,926	14,544
Cash at bank and in hand		3,690	3,197
		34,446	23,441
Creditors: Amounts falling due within one year	7	(60,325)	(55,705)
Net current liabilities		(25,879)	(32,264)
Net liabilities		(25,216)	(31,380)
Capital and reserves
Called up share capital		1	1
Profit and loss account		(25,217)	(31,381)
Shareholders' deficit		(25,216)	(31,380)

For the financial year ending 5 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 29 December 2025 and signed on its behalf by:
 

......................................... A C Knights Director

The Knights Foundation Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

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, United Kingdom.

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.

Group accounts not prepared

The ultimate parent and controlling party is The Anthony Knights Foundation Trust, a charitable incorporated organisation (CIO) and registered charity, charity number 1160417.

The parent has taken advantage of the exemption from the requirement to prepare consolidated financial statements, on the grounds that the aggregate gross income of the group is less than £1 million after consolidation adjustments.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

The Knights Foundation Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

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
Fixture and Fittings	25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

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.

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 directors) during the year, was 0 (2024 - 0). Contracts of employment are held with the parent charity, The Anthony Knights Foundation Trust.

The Knights Foundation Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

4	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 6 April 2024	1,849	1,849
At 5 April 2025	1,849	1,849
Depreciation
At 6 April 2024	965	965
Charge for the year	221	221
At 5 April 2025	1,186	1,186
Carrying amount
At 5 April 2025	663	663
At 5 April 2024	884	884

5

Stocks

	2025 £	2024 £
Finished goods and goods for resale	6,830	5,700

6

Debtors

	2025 £	2024 £
Trade debtors	12,380	8,823
Other debtors	1	501
Prepayments	11,545	5,220
	23,926	14,544

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Trade creditors		9,098	7,058
Amounts owed to group undertakings and undertakings in which the company has a participating interest	9	23,699	32,297
Accruals and deferred income		27,178	16,000
Other creditors		350	350
		60,325	55,705

The Knights Foundation Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

8	Result in period

The company has made retained losses to date as disclosed on the balance sheet, being legacy losses from the period of the Covid pandemic. The company is profit making during this financial period and is expected that profits will continue to be made in future to cover this deficit and work is being done to ensure this, before they are paid up to The Anthony Knights Foundation Trust, the company's registered charity parent.

9	Related party transactions

During the year the company met specific costs & received specific income in relation to its charitable parent undertaking, The Anthony Knights Foundation Trust. At the balance sheet date the company owed its parent undertaking £23,699 (2024: £32,297).

10	Parent and ultimate parent undertaking

The company's ultimate parent and controlling party is The Anthony Knights Foundation Trust, a charitable incorporated organisation (CIO) and registered charity in England and Wales, charity number 1160417.