Knockout Consultancy Limited - Accounts


Registered number
10816891
Knockout Consultancy Limited
Report and Accounts
30 June 2018
DAVIS, BURTON, WILLIAMS & CO
Chartered Certified Accountants and Registered Auditors
Office B11 Sutton Business Centre
Restmor Way
Wallington
Surrey
SM6 7AH
________________________________________________
Knockout Consultancy Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Profit and loss account 3
Balance sheet 4
Statement of changes in equity 5
Notes to the accounts 6-8
Knockout Consultancy Limited
Company Information
Directors
K Oakley (Appointed 13 June 2017)
Accountants
Davis Burton Williams & Co
Office B11, Sutton Business Centre
Restmor Way
Wallington
Surrey
SM6 7AH
Registered office
3 Park Terrace
St Johns Road
Carshalton
Surrey
SM5 2EA
Registered number
10816891
Knockout Consultancy Limited
Registered number: 10816891
Directors' Report
The director presents her report and accounts for the period 13 June 2017 (Date Of Incorporation) to 30 June 2018.
Principal activities
The company's principal activity during the period was that of the importation of millinery from China.
Directors
The following person served as director during the period
K Oakley (Appointed 13 June 2017)
Political donations
The company made no political donations during the year.
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 22 February 2019 and signed on its behalf.
K Oakley
Director
Knockout Consultancy Limited
Profit and Loss Account
for the period from 13 June 2017 to 30 June 2018
2018
£
Turnover 28,450
Cost of sales (442)
Gross profit 28,008
Administrative expenses (2,708)
Operating profit 25,300
Profit before taxation 25,300
Tax on profit (4,749)
Profit for the period 20,551
Knockout Consultancy Limited
Registered number: 10816891
Balance Sheet
as at 30 June 2018
Notes 2018
£
Fixed assets
Tangible assets 3 303
303
Current assets
Stocks 2,222
Debtors 4 3,226
Cash at bank and in hand -
5,448
Creditors: amounts falling due within one year 5 (5,350)
Net current assets 98
Total assets less current liabilities 401
Net assets 401
Capital and reserves
Called up share capital 100
Profit and loss account 301
Shareholders' funds 401
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The detailed profit and loss account has not been delivered to the Registrar of Companies.
K Oakley
Director
Approved by the board on 22 February 2019
Knockout Consultancy Limited
Statement of Changes in Equity
for the period from 13 June 2017 to 30 June 2018
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 13 June 2017 - - - - -
Profit for the period - - - 20,551 20,551
Total comprehensive income for the financial period - - - 20,551 20,551
Dividends - - - (20,250) (20,250)
Shares issued 100 - - - 100
At 30 June 2018 100 - - 301 401
Knockout Consultancy Limited
Notes to the Accounts
for the period from 13 June 2017 to 30 June 2018
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 25% straight line basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2018
Number
Average number of persons employed by the company 1
3 Tangible fixed assets
Computer equipment Total
£ £
Cost
At 13 June 2017 - -
Additions 404 404
Disposals - -
At 30 June 2018 404 404
Depreciation
At 13 June 2017 - -
Charge for the period 101 101
On disposals - -
At 30 June 2018 101 101
Net book value
At 30 June 2018 303 303
4 Debtors 2018
£
Trade debtors 2,220
Other debtors 1,006
3,226
5 Creditors: amounts falling due within one year 2018
£
Taxation and social security costs 4,749
Other creditors 601
5,350
6 Events after the reporting date
The director was not aware of any events after the reporting date which would materially affect the financial statements at the period end.
7 Pension commitments
The company had no pension commitments during the period.
8 Contingent liabilities
The director was not aware of the existence of any contingent liabilities at the period end.
9 Related party transactions
Included in other debtors are amounts due from the director totalling £1,006.
10 Controlling party
For the whole of the period the company was controlled by the director K Oakley.
11 Other information
Knockout Consultancy Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Park Terrace
St Johns Road
Carshalton
Surrey
SM5 2EA
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