Knighthood International Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02327890 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018

FOR

KNIGHTHOOD INTERNATIONAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr H J Murray

Mr G P Hewitt

Mr K Patel

Mr T Crossland

SECRETARY:

Mr H N Crossland

REGISTERED OFFICE:

Kempton Park House

17-19 Park Road

Sunbury-on-thames

Middlesex

TW16 5BX

REGISTERED NUMBER:

02327890 (England and Wales)

ACCOUNTANTS:

Acuity Professional (Uckfield) LLP

4A Kingfisher Court

Brambleside

Bellbrook Business Park

Uckfield

East Sussex

TN22 1QQ

FIXED ASSETS

Tangible assets

4

37

50

Investments

5

1,118,955

1,118,955

1,118,992

1,119,005

CURRENT ASSETS

Debtors

6

20,516

20,116

Cash at bank

-

12,718

20,516

32,834

CREDITORS

Amounts falling due within one year

7

396,208

328,506

NET CURRENT LIABILITIES

(375,692

)

(295,672

)

TOTAL ASSETS LESS CURRENT LIABILITIES

743,300

823,333

CREDITORS

Amounts falling due after more than one year

8

336,657

432,598

NET ASSETS

406,643

390,735

CAPITAL AND RESERVES

Called up share capital

10

415,000

415,000

Retained earnings

11

(8,357

)

(24,265

)

SHAREHOLDERS' FUNDS

406,643

390,735

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 February 2019 and were signed on its behalf by:

Mr H J Murray - Director

1.	STATUTORY INFORMATION

Knighthood International 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.

The presentation currency of the financial statements is Sterling (£), rounded to the nearest whole Pound.

The principal activity of the company during the year was managing companies involved in the installation,

maintenance and monitoring of fire and security systems.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The preparation of financial statements in conformity with FRS 102 section 1A requires the use of certain critical

accounting estimates. lt also requires management to exercise judgement in applying the company's accounting

policies.

Information on the impact of first-time adoption of FRS 102 section 1A is given in note 14. The following principal

accounting policies have been applied:

ACCOUNTING JUDGEMENTS AND ESTIMATES

In preparing the financial statements, management were not required to make any estimates or judgements which

materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities.

TURNOVER

Turnover represents management charges (net of VAT) in respect of services provided during the year. Revenue is

measured at the fair value of the consideration received or receivable.

TANGIBLE FIXED ASSETS

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

Fixtures and fittings

-

25% on reducing balance

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are recognised at cost less impairment.

FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other

Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the

contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a

legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to

realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price

including transaction costs and are subsequently carried at amortised cost using the effective interest method unless

the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the

future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not

amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements

entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after

deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares

that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing

transaction, where the debt instrument is measured at the present value of the future payment discounted at a market

rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or

less. If not, they are presented as non-current liabilities. Trade creditors greater than one year are recognised initially

at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

Cost

At 1 June 2017

and 31 May 2018

5,855

Depreciation

At 1 June 2017

5,805

Charge for year

13

At 31 May 2018

5,818

Net book value

At 31 May 2018

37

At 31 May 2017

50

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

Cost

At 1 June 2017

and 31 May 2018

1,118,955

Net book value

At 31 May 2018

1,118,955

At 31 May 2017

1,118,955

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Knighthood International Security Limited

Registered office: Kempton Park House, 17-19 Park Road, Sunbury on Thames, TW16 5BX

Nature of business: Security equipment maintenance & monitoring.

%

Class of shares:

holding

Ordinary

100.00

Preference

100.00

2018

2017

£

£

Aggregate capital and reserves

419,253

326,016

Profit/(loss) for the year

72,380

(155,376

)

Knighthood International Fire Limited

Registered office: Kempton Park House, 17-19 Park Road, Sunbury on Thames, TW16 5BX

Nature of business: Fire equipment maintenance & monitoring.

%

Class of shares:

holding

Ordinary

100.00

2018

2017

£

£

Aggregate capital and reserves

125,384

149,901

Profit/(loss) for the year

1,983

(208

)

Bearbox International Limited

Registered office: Kempton Park House, 17-19 Park Road, Sunbury on Thames, TW16 5BX

Nature of business: Security equipment maintenance & monitoring.

%

Class of shares:

holding

Ordinary

100.00

2018

2017

£

£

Aggregate capital and reserves

62,529

51,799

Profit/(loss) for the year

24,099

(953

)

JLG Security Services Limited

Registered office: Kempton Park House, 17-19 Park Road, Sunbury on Thames, TW16 5BX

Nature of business: Installation of security and fire alarm systems

%

Class of shares:

holding

Ordinary

100.00

2018

2017

£

£

Aggregate capital and reserves

(19,736

)

2,190

Loss for the year

(21,926

)

(18,452

)

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed by group undertakings

20,516

20,116

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

18,534

-

Other loans

20,120

20,120

Amounts owed to group undertakings

330,772

273,893

Social security and other taxes

3,324

4,602

VAT

22,238

26,193

Other creditors

730

2,923

Accrued expenses

490

775

396,208

328,506

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other loans - 1-2 years

98,624

108,385

Other loans - 2-5 years

-

107,180

Other creditors

75,000

75,000

Directors' loan accounts

163,033

142,033

336,657

432,598

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

In more than five years

360,000

360,000

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

200,000

Ordinary

£1

200,000

200,000

215,000

Preference

£1

215,000

215,000

415,000

415,000

The cumulative redeemable preference shares carry a fixed cumulative preference dividend at the bank base rate per

annum payable half yearly in equal amounts on 31 December and 30 June each year commencing 31 December

1995. The redeemable preference shares are redeemable at par at the shareholders request from 1 June 1995.

As at the 31 May 2018 the arrears of the cumulative preference dividends were £130,346 (2016: £129,177). These

amounts have not been provided for in the accounts as the company did not have sufficient distributable reserves.

11.

RESERVES

Retained

earnings

£

At 1 June 2017

(24,265

)

Profit for the year

15,908

At 31 May 2018

(8,357

)

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial

Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with

wholly owned subsidiaries within the group.

As at the balance sheet date the company owed £163,033 (2017: £142,033) to H J Murray and his wife Mrs J

Murray. H J Murray is a director and shareholder of the company.

As at the balance sheet date the company owed H J Murray's mother £75,000 (2017: £75,000). The loan is subject to

interest at the bank base rate.