Knightguard Limited 31/07/2019 iXBRL

Knightguard Limited 31/07/2019 iXBRL

KNIGHTGUARD LIMITED - Company Information

Print Friendly Version

31/07/2019 2019-07-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2018-08-01 Sage Accounts Production 19.0 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 3412866 2018-08-01 2019-07-31 3412866 2019-07-31 3412866 2017-08-01 2018-07-31 3412866 2018-07-31 3412866 2017-07-31 3412866 bus:RegisteredOffice 2018-08-01 2019-07-31 3412866 bus:LeadAgentIfApplicable 2018-08-01 2019-07-31 3412866 bus:Director1 2018-08-01 2019-07-31 3412866 bus:Director2 2018-08-01 2019-07-31 3412866 core:PlantMachinery 2019-07-31 3412866 core:MotorVehicles 2019-07-31 3412866 core:WithinOneYear 2019-07-31 3412866 core:WithinOneYear 2018-07-31 3412866 core:RetainedEarningsAccumulatedLosses 2017-08-01 2018-07-31 3412866 core:RetainedEarningsAccumulatedLosses 2018-08-01 2019-07-31 3412866 core:AfterOneYear 2019-07-31 3412866 core:AfterOneYear 2018-07-31 3412866 core:ShareCapital 2019-07-31 3412866 core:ShareCapital 2018-07-31 3412866 core:TreasurySharesOwnSharesReserve 2019-07-31 3412866 core:TreasurySharesOwnSharesReserve 2018-07-31 3412866 core:RetainedEarningsAccumulatedLosses 2019-07-31 3412866 core:RetainedEarningsAccumulatedLosses 2018-07-31 3412866 core:ShareCapital 2017-07-31 3412866 core:TreasurySharesOwnSharesReserve 2017-07-31 3412866 core:RetainedEarningsAccumulatedLosses 2017-07-31 3412866 core:PlantMachinery 2018-08-01 2019-07-31 3412866 core:MotorVehicles 2018-08-01 2019-07-31 3412866 bus:SmallEntities 2018-08-01 2019-07-31 3412866 bus:AuditExempt-NoAccountantsReport 2018-08-01 2019-07-31 3412866 bus:FullAccounts 2018-08-01 2019-07-31 3412866 bus:SmallCompaniesRegimeForAccounts 2018-08-01 2019-07-31 3412866 bus:PrivateLimitedCompanyLtd 2018-08-01 2019-07-31
Company registration number: 3412866
Knightguard Limited
Trading as Knightguard Limited
Unaudited financial statements
31 July 2019
Knightguard Limited
Contents
Directors and other information
Directors report
Statement of comprehensive income
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Knightguard Limited
Directors and other information
Directors Mr Evans Igor
Mrs Maryann Igor
Company number 3412866
Registered office 12 Wandle Way
Mitcham
Surrey
CR4 4NB
Business address 12 Wandle Way
Willow Lane Industrial Estate
Mitcham
Surrey
CR4 4NB
Bankers HSBC
21 Kings Mall
King Street
Hammersmith
London
W6 0QF
Knightguard Limited
Directors report
Year ended 31 July 2019
The directors present their report and the unaudited financial statements of the company for the year ended 31 July 2019.
Incorporation
Company Registration Number:
0 3412866 (England and Wales)
Report of the Directors and Unaudited Financial Statements
Period of accounts
Start date: 01st August 2018
End date: 31st July 2019
Directors
The directors who served the company during the year were as follows:
Mr Evans Igor
Mrs Maryann Igor
The directors shown below have held office during the whole of the period from 01st August 2018 to 31st July 2019 Maryann Igor Evans Igor
Employment of disabled persons
The Company is fully committed to the principle of equal opportunity in employment and opposed to sexual and racial harassment and harassment on the grounds of sexual orientation or religious belief or other similarly held belief. Nor will we discriminate against potential or existing employees on the grounds of disability. These are forms of discrimination that constitute unlawful behaviour and are contrary to the Sex Discrimination Acts 1975 and 1986, the Race Relations Act 1976 and the Employment Equality (Sexual Orientation) and (Religion or Belief) Regulations 2003. We also support the ethics and letter of The Equality Act 2010 and will not suffer indirect discrimination either.
Other matters
Principal activities
The principal activity of the company in the period under review was:
The provision of security services
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 27 April 2020 and signed on behalf of the board by:
Mr Evans Igor
Director
Knightguard Limited
Statement of comprehensive income
Year ended 31 July 2019
2019 2018
Note £ £
Turnover 1,370,077 1,623,467
Change in stocks of finished goods and in work in progress - ( 84,139)
_______ _______
1,370,077 1,539,328
Other external charges ( 475,421) ( 374,423)
Staff costs ( 871,064) ( 772,399)
Depreciation and other amounts written off tangible and intangible fixed assets ( 2,385) ( 2,443)
Other operating expenses ( 148,783) ( 152,495)
_______ _______
Operating (loss)/profit ( 127,576) 237,568
Other interest receivable and similar income 1 -
Interest payable and similar expenses - ( 135)
_______ _______
(Loss)/profit before taxation ( 127,575) 237,433
Tax on (loss)/profit - -
_______ _______
(Loss)/profit for the financial year and total comprehensive income ( 127,575) 237,433
_______ _______
All the activities of the company are from continuing operations.
Knightguard Limited
Statement of financial position
31 July 2019
2019 2018
Note £ £ £ £
Fixed assets
Tangible assets 6 31,271 6,677
_______ _______
31,271 6,677
Current assets
Debtors 7 298,751 478,003
Cash at bank and in hand ( 4,013) -
_______ _______
294,738 478,003
Creditors: amounts falling due
within one year 8 ( 419,702) ( 437,284)
_______ _______
Net current (liabilities)/assets ( 124,964) 40,719
_______ _______
Total assets less current liabilities ( 93,693) 47,396
Creditors: amounts falling due
after more than one year 9 21,598 8,083
_______ _______
Net (liabilities)/assets ( 72,095) 55,479
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Reserve for own shares 20,358 20,358
Profit and loss account ( 93,453) 34,121
_______ _______
Shareholders (deficit)/funds ( 72,095) 55,479
_______ _______
For the year ending 31 July 2019 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 were approved by the board of directors and authorised for issue on 30 April 2020 , and are signed on behalf of the board by:
Mr Evans Igor
Director
Company registration number: 3412866
Knightguard Limited
Statement of changes in equity
Year ended 31 July 2019
Called up share capital Reserve for own shares Profit and loss account Total
£ £ £ £
At 1 August 2017 1,000 20,358 ( 203,312) ( 181,954)
(Loss)/profit for the year 237,433 237,433
_______ _______ _______ _______
Total comprehensive income for the year - - 237,433 237,433
_______ _______ _______ _______
At 31 July 2018 and 1 August 2018 1,000 20,358 34,122 55,480
(Loss)/profit for the year ( 127,575) ( 127,575)
_______ _______ _______ _______
Total comprehensive income for the year - - ( 127,575) ( 127,575)
_______ _______ _______ _______
At 31 July 2019 1,000 20,358 ( 93,453) ( 72,095)
_______ _______ _______ _______
Knightguard Limited
Notes to the financial statements
Year ended 31 July 2019
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Knightguard Limited, 12 Wandle Way, Mitcham, Surrey, CR4 4NB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to Nil (2018: Nil).
The aggregate payroll costs incurred during the year were:
2019 2018
£ £
Wages and salaries 730,010 657,542
Social security costs 136,680 112,918
Other pension costs 4,374 1,939
_______ _______
871,064 772,399
_______ _______
5. Loss/profit before taxation
Loss/profit before taxation is stated after charging/(crediting):
2019 2018
£ £
Depreciation of tangible assets 2,385 2,443
_______ _______
6. Tangible assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 August 2018 - - -
Additions 31,304 ( 14,246) 17,058
_______ _______ _______
At 31 July 2019 31,304 ( 14,246) 17,058
_______ _______ _______
Depreciation
At 1 August 2018 - - -
Charge for the year 33 ( 14,246) ( 14,213)
_______ _______ _______
At 31 July 2019 33 ( 14,246) ( 14,213)
_______ _______ _______
Carrying amount
At 31 July 2019 31,271 - 31,271
_______ _______ _______
At 31 July 2018 - - -
_______ _______ _______
7. Debtors
2019 2018
£ £
Trade debtors 290,718 477,643
Other debtors 8,033 360
_______ _______
298,751 478,003
_______ _______
8. Creditors: amounts falling due within one year
2019 2018
£ £
Bank loans and overdrafts 151,759 100,610
Trade creditors 51,683 122,161
Social security and other taxes 217,355 215,608
Other creditors ( 1,095) ( 1,095)
_______ _______
419,702 437,284
_______ _______
9. Creditors: amounts falling due after more than one year
2019 2018
£ £
Other creditors ( 21,598) ( 8,083)
_______ _______