2021-06-012022-05-312022-05-31false08535367ADVANCED CONSULTANCY IN EDUCATION 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ADVANCED CONSULTANCY IN EDUCATION LIMITED

Registered Number
08535367
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2022

ADVANCED CONSULTANCY IN EDUCATION LIMITED
Company Information
for the year from 1 June 2021 to 31 May 2022

Directors

R Short

Registered Address

3 Forest Gate
Otley
LS21 3HF

Registered Number

08535367 (England and Wales)
ADVANCED CONSULTANCY IN EDUCATION LIMITED
Statement of Financial Position
31 May 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Tangible assets63,0141,362
3,0141,362
Current assets
Cash at bank and on hand501,506399,507
501,506399,507
Creditors amounts falling due within one year(33,869)(33,522)
Net current assets (liabilities)467,637365,985
Total assets less current liabilities470,651367,347
Provisions for liabilities(573)(302)
Net assets470,078367,045
Capital and reserves
Called up share capital11
Profit and loss account470,077367,044
Shareholders' funds470,078367,045
The financial statements were approved and authorised for issue by the Director on 15 August 2022, and are signed on its behalf by:
R Short
Director
Registered Company No. 08535367
ADVANCED CONSULTANCY IN EDUCATION LIMITED
Notes to the Financial Statements
for the year ended 31 May 2022

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company during the year was that of consultancy to the education sector.
4.Accounting policies
Functional and presentation currency policy
The financial statements have been prepared on the historical cost basis. The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment20
Taxation policy
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 policy
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.
Valuation of financial instruments policy
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Going concern
In March 2020 the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. More latterly, the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
5.Employee information

20222021
Average number of employees during the year--
6.Property, plant and equipment

Total

£
Cost or valuation
At 01 June 212,335
Additions2,406
At 31 May 224,741
Depreciation and impairment
At 01 June 21973
Charge for year754
At 31 May 221,727
Net book value
At 31 May 223,014
At 31 May 211,362
7.Provisions for impairment of tangible assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
8.Description of nature of transactions and balances with related parties
During the year the director made available a loan to the company. This loan is interest free and repayable on demand. At the year end the balance of this loan was £nil (2021 -£nil).