Knowhow Limited - Period Ending 2014-02-28

Registration number: 06820826

Knowhow Limited

Unaudited Abbreviated Accounts

for the Year Ended 28 February 2014
 

E J Business Consultants Limited
The Rectory, 1 Toomers Wharf,
Canal Walk
Newbury
Berkshire
RG14 1DY

Knowhow Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Knowhow Limited
for the Year Ended 28 February 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Knowhow Limited for the year ended 28 February 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Knowhow Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Knowhow Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Knowhow Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Knowhow Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Knowhow Limited. You consider that Knowhow Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Knowhow Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

E J Business Consultants Limited
The Rectory, 1 Toomers Wharf,
Canal Walk
Newbury
Berkshire
RG14 1DY

5 August 2014

Page 1

Knowhow Limited
(Registration number: 06820826)
Abbreviated Balance Sheet at 28 February 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					2,034			2,711
Current assets
Debtors					654			86
Cash at bank and in hand					43,630			37,297
					44,284			37,383
Creditors: Amounts falling due within one year					(40,107)			(12,003)
Net current assets					4,177			25,380
Net assets					6,211			28,091
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					6,111			27,991
Shareholders' funds					6,211			28,091

For the year ending 28 February 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 5 August 2014

.........................................
Mr Huw Williams
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Knowhow Limited
Notes to the Abbreviated Accounts for the Year Ended 28 February 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	25% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 March 2013		6,004			6,004
At 28 February 2014		6,004			6,004
Depreciation
At 1 March 2013		3,293			3,293
Charge for the year		677			677
At 28 February 2014		3,970			3,970
Net book value
At 28 February 2014		2,034			2,034
At 28 February 2013		2,711			2,711

Page 3

Knowhow Limited
Notes to the Abbreviated Accounts for the Year Ended 28 February 2014
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4