Knights Investment Management Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09099188 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

KNIGHTS INVESTMENT MANAGEMENT LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

FIXED ASSETS

Investments

5

514,400

CREDITORS

Amounts falling due within one year

6

514,659

513,985

NET CURRENT LIABILITIES

(514,659

)

(513,985

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(259

)

415

CAPITAL AND RESERVES

Called up share capital

4

Retained earnings

(263

)

411

SHAREHOLDERS' FUNDS

(259

)

415

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 20 February 2018 and were signed on its behalf
by:

Mr A G Knights - Director

1.	STATUTORY INFORMATION

Knights Investment Management 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 the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The principal accounting policies adopted in the preparation of the financial statements are set out below and

have remained unchanged from the previous year and also have been consistently applied within the same

accounts.

These financial statements for the year ended 30/06/17 are the first financial statements that comply with FRS

102 Section 1A small entities. The date of transition is 1/7/15.

The transition to FRS 102 Section 1A for small entities has not resulted in any changes in the accounting

policies.

The financial statements have been prepared under the historical cost convention.

The company balance sheet at 30/6/17 shows a net liability. However, the director has confirmed his

continuing support of the company liabilities for the foreseeable future. As a result of this these financial

statements have been prepared on a going concern basis.

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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

Investment income

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

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 July 2016

and 30 June 2017

514,400

NET BOOK VALUE

At 30 June 2017

514,400

At 30 June 2016

514,400

The financial investment undertaken by this client was not followed through with the original intentions, in

turn this has lead to a litigation. Due to the uncertainty of the outcome of the litigation the recovery of the

original investment is still unknown. Therefore the investment value shall remain at cost price until the value

can be measured reliably.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Other creditors

514,659

513,985

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2017 and

30 June 2016:

2017

2016

£

Mr A G Knights

Balance outstanding at start of year

(313,511

)

(380,051

)

Amounts advanced

-

67,297

Amounts repaid

(474

)

(757

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(313,985

)

(313,511

)

The above loan was unsecured and repayable on demand. Interest is charged at 3.00% 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 2016 period was £2.

Knights Investment Management Limited - Accounts to registrar (filleted) - small 17.3

Knights Investment Management Limited - Accounts to registrar (filleted) - small 17.3