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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period 10 February 2016 to 28 February 2017 |
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Know & Insure Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period 10 February 2016 to 28 February 2017 |
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for |
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Know & Insure Ltd |
Know & Insure Ltd (Registered number: 09998817) |
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Contents of the Financial Statements |
for the Period 10 February 2016 to 28 February 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Chartered Accountants' Report | 6 |
Know & Insure Ltd |
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Company Information |
for the Period 10 February 2016 to 28 February 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Trading as Lee & Co |
Chartered Accountants |
26 High Street |
Rickmansworth |
Hertfordshire |
WD3 1ER |
Know & Insure Ltd (Registered number: 09998817) |
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Balance Sheet |
28 February 2017 |
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Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Know & Insure Ltd (Registered number: 09998817) |
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Notes to the Financial Statements |
for the Period 10 February 2016 to 28 February 2017 |
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1. | STATUTORY INFORMATION |
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Know & Insure Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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The company has capitalised costs associated with the development of new products. The company will amortise |
these costs once the products have been completed. |
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Financial instruments |
Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured |
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective |
interest method, less any impairment. |
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Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, |
are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost |
using the effective interest method. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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 period end and that are expected to apply to the reversal of the |
timing difference. |
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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. |
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Going concern |
The company has net liabilities at the period end. The directors have indicated they will continue to support the |
company for the forthcoming year and hence the accounts have been prepared under the going concern concept. |
Know & Insure Ltd (Registered number: 09998817) |
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Notes to the Financial Statements - continued |
for the Period 10 February 2016 to 28 February 2017 |
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3. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
Additions |
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At 28 February 2017 |
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NET BOOK VALUE |
At 28 February 2017 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
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Amounts owed to participating interests | 2,871 |
Other creditors |
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6. | CALLED UP SHARE CAPITAL |
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Allotted and issued: |
Number: | Class: | Nominal |
value: | £ |
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Share capital 1 | £1 | 100 |
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7. | RELATED PARTY DISCLOSURES |
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D M Gibson |
Director and shareholder |
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Amount due to related party at the balance sheet date | 6,000 |
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S J B Cooper |
Director and shareholder |
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£ |
Amount due to related party at the balance sheet date | 6,000 |
Know & Insure Ltd (Registered number: 09998817) |
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Notes to the Financial Statements - continued |
for the Period 10 February 2016 to 28 February 2017 |
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7. | RELATED PARTY DISCLOSURES - continued |
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Rexel Facilities Management Ltd |
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A company under the control of one of the directors |
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£ |
Amount due to related party at the balance sheet date | 2,871 |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Know & Insure Ltd |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Know & Insure Ltd for the period ended 28 February 2017 which comprise the Income |
Statement, Balance Sheet, and the related notes from the company's accounting records and from information and |
explanations you have given us. |
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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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Know & Insure Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Know & Insure Ltd and state those matters that we have agreed to state to the Board of Directors of Know & Insure Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Know & Insure Ltd Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Know & Insure Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Know & Insure Ltd. You consider that Know & Insure Ltd is exempt from the statutory audit requirement for the period. |
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We have not been instructed to carry out an audit or a review of the financial statements of Know & Insure Ltd. 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 financial statements. |
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Trading as Lee & Co |
Chartered Accountants |
26 High Street |
Rickmansworth |
Hertfordshire |
WD3 1ER |
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