Knights Investment Management Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 09099188 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

FOR

KNIGHTS INVESTMENT MANAGEMENT LIMITED

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2

FIXED ASSETS

Investments

2

514,400

CURRENT ASSETS

Cash at bank

-

67,303

CREDITORS

Amounts falling due within one year

513,985

580,809

NET CURRENT LIABILITIES

(513,985

)

(513,506

)

TOTAL ASSETS LESS CURRENT LIABILITIES

415

894

CAPITAL AND RESERVES

Called up share capital

3

4

Profit and loss account

411

890

SHAREHOLDERS' FUNDS

415

894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 22 March 2017 and were signed on its behalf by:

Mr A G Knights - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting

Standard for Smaller Entities (effective January 2015).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Investment income

Income from investments and securities is accounted for when dividends and interest are receivable.

2.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 July 2015

and 30 June 2016

514,400

NET BOOK VALUE

At 30 June 2016

514,400

At 30 June 2015

514,400

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2

1

Ordinary A

£1

1

Ordinary B

£1

1

4

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 June 2016 and the period ended 30 June 2015:

2016

2015

£

Mr A G Knights

Balance outstanding at start of year

(380,051

)

-

Amounts advanced

67,297

20,324

Amounts repaid

(757

)

(400,375

)

Balance outstanding at end of year

(313,511

)

(380,051

)

The above loan was unsecured and repayable on demand. Interest is charged at 3.25% on all over drawn loan balances above £10,000.

No interest was charged in the period. The loans were never overdrawn in the year. The maximum amounts outstanding on the loan in

the 2015 period was £2.