Knowledge Capital Partners Limited 31/03/2018 iXBRL

Knowledge Capital Partners Limited 31/03/2018 iXBRL

KNOWLEDGE CAPITAL PARTNERS LIMITED - Company Information

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Company registration number: 04392882
Knowledge Capital Partners Limited
Unaudited filleted financial statements
31 March 2018
Knowledge Capital Partners Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Knowledge Capital Partners Limited
Directors and other information
Directors Mr J.J. Hindle
Mr J.R. Smith
Mr Leslie Willcocks
Secretary J.J. Hindle
Company number 04392882
Registered office 1st Floor
23 Princes Street
London
W1B 2LX
Accountants BG Partnership
1st Floor
23 Princes Street
London
W1B 2LX
Knowledge Capital Partners Limited
Statement of financial position
31 March 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 5 1,041 -
_______ _______
1,041 -
Current assets
Debtors 6 1,756 12,239
Cash at bank and in hand 52,404 45,278
_______ _______
54,160 57,517
Creditors: amounts falling due
within one year 7 ( 18,900) ( 41,782)
_______ _______
Net current assets 35,260 15,735
_______ _______
Total assets less current liabilities 36,301 15,735
_______ _______
Net assets 36,301 15,735
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 36,201 15,635
_______ _______
Shareholders funds 36,301 15,735
_______ _______
For the year ending 31 March 2018 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 and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 December 2018 , and are signed on behalf of the board by:
Mr J.J. Hindle
Director
Company registration number: 04392882
Knowledge Capital Partners Limited
Statement of changes in equity
Year ended 31 March 2018
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2016 100 ( 960) ( 860)
Profit for the year 16,595 16,595
_______ _______ _______
Total comprehensive income for the year - 16,595 16,595
_______ _______ _______
At 31 March 2017 and 1 April 2017 100 15,635 15,735
Profit for the year 20,566 20,566
_______ _______ _______
Total comprehensive income for the year - 20,566 20,566
_______ _______ _______
At 31 March 2018 100 36,201 36,301
_______ _______ _______
Knowledge Capital Partners Limited
Notes to the financial statements
Year ended 31 March 2018
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 1st Floor, 23 Princes Street, London, W1B 2LX.
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 services rendered, net of discounts and Value Added Tax.
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.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2017: Nil).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 April 2017 - -
Additions 882 882
_______ _______
At 31 March 2018 882 882
_______ _______
Depreciation
At 1 April 2017 - -
Charge for the year ( 159) ( 159)
_______ _______
At 31 March 2018 ( 159) ( 159)
_______ _______
Carrying amount
At 31 March 2018 1,041 1,041
_______ _______
At 31 March 2017 - -
_______ _______
6. Debtors
2018 2017
£ £
Trade debtors 1,756 12,239
_______ _______
7. Creditors: amounts falling due within one year
2018 2017
£ £
Corporation tax 5,502 4,004
Social security and other taxes 5,540 7,580
Other creditors 7,858 30,198
_______ _______
18,900 41,782
_______ _______
8. Directors advances, credits and guarantees
Included in other creditors, is the amounts of £2,694 owed to John Hindle(2017:£ 5,434), £1,139 owed to John Smith(2017:£139) and £2,000 owed to Leslie Willcocks(2017:£2,000)