IRIS Accounts Production v23.1.0.753 08422514 Board of Directors 1.6.22 31.5.23 31.5.23 false true false false false true false 'A' 1.00000 'B' 1.00000 'C' 1.00000 'D' 1.00000 'A' 1.00000 'B' 1.00000 'C' 1.00000 'D' 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure084225142022-05-31084225142023-05-31084225142022-06-012023-05-31084225142021-05-31084225142021-06-012022-05-31084225142022-05-3108422514ns16:EnglandWales2022-06-012023-05-3108422514ns15:PoundSterling2022-06-012023-05-3108422514ns11:Director12022-06-012023-05-3108422514ns11:PrivateLimitedCompanyLtd2022-06-012023-05-3108422514ns11:SmallEntities2022-06-012023-05-3108422514ns11:AuditExempt-NoAccountantsReport2022-06-012023-05-3108422514ns11:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3108422514ns11:SmallCompaniesRegimeForAccounts2022-06-012023-05-3108422514ns11:AbridgedAccounts2022-06-012023-05-310842251412022-06-012023-05-3108422514ns11:OrdinaryShareClass22022-06-012023-05-3108422514ns11:OrdinaryShareClass32022-06-012023-05-3108422514ns11:OrdinaryShareClass42022-06-012023-05-3108422514ns11:OrdinaryShareClass52022-06-012023-05-3108422514ns11:Director22022-06-012023-05-3108422514ns11:Director32022-06-012023-05-3108422514ns11:Director42022-06-012023-05-3108422514ns11:RegisteredOffice2022-06-012023-05-3108422514ns6:CurrentFinancialInstruments2023-05-3108422514ns6:CurrentFinancialInstruments2022-05-3108422514ns6:ShareCapital2023-05-3108422514ns6:ShareCapital2022-05-3108422514ns6:CapitalRedemptionReserve2023-05-3108422514ns6:CapitalRedemptionReserve2022-05-3108422514ns6:RetainedEarningsAccumulatedLosses2023-05-3108422514ns6:RetainedEarningsAccumulatedLosses2022-05-3108422514ns6:NetGoodwill2022-06-012023-05-3108422514ns6:LongLeaseholdAssetsns6:LandBuildings2022-06-012023-05-3108422514ns6:PlantMachinery2022-06-012023-05-3108422514ns6:FurnitureFittings2022-06-012023-05-3108422514ns6:MotorVehicles2022-06-012023-05-3108422514ns6:ComputerEquipment2022-06-012023-05-310842251412022-06-012023-05-3108422514ns6:WithinOneYear2023-05-3108422514ns6:WithinOneYear2022-05-3108422514ns6:BetweenOneFiveYears2023-05-3108422514ns6:BetweenOneFiveYears2022-05-3108422514ns6:MoreThanFiveYears2023-05-3108422514ns6:MoreThanFiveYears2022-05-3108422514ns6:AllPeriods2023-05-3108422514ns6:AllPeriods2022-05-3108422514ns11:OrdinaryShareClass22023-05-3108422514ns11:OrdinaryShareClass32023-05-3108422514ns11:OrdinaryShareClass42023-05-3108422514ns11:OrdinaryShareClass52023-05-31
REGISTERED NUMBER: 08422514 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 May 2023

for

St Michael's Learning Centres Ltd

St Michael's Learning Centres Ltd (Registered number: 08422514)

Contents of the Financial Statements
for the Year Ended 31 May 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


St Michael's Learning Centres Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Mr G M Gurr
Mr S R Roberts
Mrs S Sexon
Mr A Sides





REGISTERED OFFICE: 69 High Street
Bideford
Devon
EX39 2AT





REGISTERED NUMBER: 08422514 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

St Michael's Learning Centres Ltd (Registered number: 08422514)

Abridged Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 61,787 75,068
61,787 75,068

CURRENT ASSETS
Stocks 1,485 3,400
Debtors 10,242 10,343
Cash at bank 196,012 88,826
207,739 102,569
CREDITORS
Amounts falling due within one year 55,761 30,018
NET CURRENT ASSETS 151,978 72,551
TOTAL ASSETS LESS CURRENT
LIABILITIES

213,765

147,619

PROVISIONS FOR LIABILITIES 5,601 5,266
NET ASSETS 208,164 142,353

CAPITAL AND RESERVES
Called up share capital 8 700 700
Capital redemption reserve 250 250
Retained earnings 207,214 141,403
SHAREHOLDERS' FUNDS 208,164 142,353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

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
(b)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.

St Michael's Learning Centres Ltd (Registered number: 08422514)

Abridged Balance Sheet - continued
31 May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by:





Mr G M Gurr - Director


St Michael's Learning Centres Ltd (Registered number: 08422514)

Notes to the Financial Statements
for the Year Ended 31 May 2023


1. STATUTORY INFORMATION

St Michael's Learning Centres Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill representing the excess of the purchase price over the fair value of the net assets of undertakings acquired is capitalised in the balance sheet and is amortised by equal annual instalments over the expected useful economic life of 2 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% straight line
Plant and machinery - 20% straight line
Fixtures and fittings - 20% straight line
Motor vehicles - 20% straight line
Computer equipment - 20% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Government grants
Government grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the assets to which they relate.

Government grants in respect of revenue items are credited to the profit and loss account when they are receivable.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

St Michael's Learning Centres Ltd (Registered number: 08422514)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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 year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
Having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the directors consider that it is appropriate to prepare the financial statements on the going concern basis.

Hire purchase and leasing commitments
Rentals under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Exceptional items
The company discloses as exceptional items material items which derive from events or transactions that fall within the ordinary activities of the reporting entity and which individually, or, if of a similar type, in aggregate, it is considered need to be disclosed by virtue of their size or incidence if the financial statements are to give a true and fair view.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 30 ) .

St Michael's Learning Centres Ltd (Registered number: 08422514)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022
and 31 May 2023 13,300
AMORTISATION
At 1 June 2022
and 31 May 2023 13,300
NET BOOK VALUE

At 31 May 2023 -
At 31 May 2022 -

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022 131,575
Additions 2,718
At 31 May 2023 134,293
DEPRECIATION
At 1 June 2022 56,507
Charge for year 15,999
At 31 May 2023 72,506
NET BOOK VALUE
At 31 May 2023 61,787
At 31 May 2022 75,068


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 37,500 37,500
Between one and five years 150,000 150,000
In more than five years 184,375 221,875
371,875 409,375

St Michael's Learning Centres Ltd (Registered number: 08422514)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
250 'A' £1 250 250
250 'B' £1 250 250
100 'C' £1 100 100
100 'D' £1 100 100
700 700

9. CONTINGENT LIABILITIES

The company has provided guarantees for third party borrowings of approximately £100,000.