Acorah Software Products - Accounts Production 12.4.009 false Knight Family Investments Limited, and its directors, true 1 January 2021 31 December 2021 31 December 2021 12143141 S M Knight K J Knight L D Knight M K Knight iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12143141 2020-12-31 12143141 2021-12-31 12143141 2021-01-01 2021-12-31 12143141 frs-core:CurrentFinancialInstruments 2021-12-31 12143141 frs-core:CurrentFinancialInstruments 2021-01-01 2021-12-31 12143141 frs-core:Non-currentFinancialInstruments 2021-12-31 12143141 frs-core:Non-currentFinancialInstruments 2021-01-01 2021-12-31 12143141 frs-core:CurrentFinancialInstruments 2021-01-01 2021-12-31 12143141 frs-core:CurrentFinancialInstruments 2021-12-31 12143141 frs-core:AfterOneYear 2021-01-01 2021-12-31 12143141 frs-core:BetweenOneFiveYears 2021-01-01 2021-12-31 12143141 frs-core:BetweenOneFiveYears 2021-12-31 12143141 frs-core:ComputerEquipment 2021-12-31 12143141 frs-core:ComputerEquipment 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Registered number: 12143141
Toolroom Academy Limited
Unaudited Financial Statements
For The Year Ended 31 December 2021
Unaudited Financial Statements
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Toolroom Academy Limited For The Year Ended 31 December 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Toolroom Academy Limited For The Year Ended 31 December 2021 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
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 at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Toolroom Academy Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Toolroom Academy Limited and state those matters that we have agreed to state to the directors of Toolroom Academy Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Toolroom Academy Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that Toolroom Academy Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Toolroom Academy Limited . You consider that Toolroom Academy Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Toolroom Academy Limited . 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 financial statements.
Signed
12/09/2022
Exceed Accountants Limited
Bank House, 81 St Judes Road
Englefield Green
TW20 0DF
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Balance Sheet
Registered number: 12143141
2021 2020
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,001 -
1,001 -
CURRENT ASSETS
Debtors 5 717,720 425,953
Cash at bank and in hand 16,764 -
734,484 425,953
Creditors: Amounts Falling Due Within One Year 6 (466,780 ) (311,252 )
NET CURRENT ASSETS (LIABILITIES) 267,704 114,701
TOTAL ASSETS LESS CURRENT LIABILITIES 268,705 114,701
NET ASSETS 268,705 114,701
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 268,704 114,700
SHAREHOLDERS' FUNDS 268,705 114,701
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For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
S M Knight
Director
12/09/2022
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2. 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.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 33.33% on cost
1.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
1.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
1.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2020: 2)
2 2
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2021 -
Additions 1,287
As at 31 December 2021 1,287
Depreciation
As at 1 January 2021 -
Provided during the period 286
As at 31 December 2021 286
Net Book Value
As at 31 December 2021 1,001
As at 1 January 2021 -
5. Debtors
2021 2020
£ £
Due within one year
Trade debtors 145,397 85,111
Prepayments and accrued income 41,232 25,396
Other debtors 518,954 283,892
VAT 12,136 31,554
Amounts owed by group undertakings 1 -
717,720 425,953
6. Creditors: Amounts Falling Due Within One Year
2021 2020
£ £
Trade creditors 311,023 196,182
Corporation tax 14,529 12,522
Accruals and deferred income 141,228 102,548
466,780 311,252
7. Share Capital
2021 2020
Allotted, Called up and fully paid 1 1
Value Number 2021 2020
Allotted, called up and fully paid £ £ £
Ordinary Shares 1 1 1 1
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8. Related Party Transactions
Included under current assets is a balance owed to the company by related parties:
Toolroom Productions Limited: £41,232 (2020: £25,396)

Included under current liabilities are balances owed by the company to related parties:
Knight Family Investments Limited: £110,333 (2020: £nil)
Toolroom Productions Limited: £189,000 (2020: £189,000)

Included under non-current liabilities is a loan owed by the company to related parties:
Toolroom Productions Limited: £518,954 (2020: £283,891)

This loan is not secured, carries no interest and has no fixed terms of repayment. The directors have indicated that this amount will not be called up for payment in the next 12 months.
9. Ultimate Controlling Party
The company's ultimate controlling party is Knight Family Investments Limited, and its directors, by virtue of its ownership of 100% of the issued share capital in the company.
10. General Information
Toolroom Academy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12143141 . The registered office is Bank House, 81 St Judes Road, Englefield Green, TW20 0DF.
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