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Registration number: 05005907

The Dr. Bob Courses Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

The Dr. Bob Courses Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

The Dr. Bob Courses Limited

(Registration number: 05005907)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,100,174

1,132,720

Current assets

 

Stocks

5

48,497

67,314

Debtors

6

434,903

268,743

Cash at bank and in hand

 

836,576

697,242

 

1,319,976

1,033,299

Creditors: Amounts falling due within one year

7

(373,475)

(514,679)

Net current assets

 

946,501

518,620

Total assets less current liabilities

 

2,046,675

1,651,340

Creditors: Amounts falling due after more than one year

7

(52,988)

(138,916)

Provisions for liabilities

(41,385)

(43,698)

Net assets

 

1,952,302

1,468,726

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

1,952,301

1,468,725

Total equity

 

1,952,302

1,468,726

 

The Dr. Bob Courses Limited

(Registration number: 05005907)
Balance Sheet as at 31 March 2023

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 24 October 2023
 

Dr R Khanna
Director

   
     
 

The Dr. Bob Courses Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Winchester House
Deane Gate Avenue
Taunton
Somerset
TA1 2UH
UK

These financial statements were authorised for issue by the director on 24 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are accrued on a systematic basis over the period that the related costs have been recognised. Where the costs have already been incurred then government grants are credited to the profit and loss account in full.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

The Dr. Bob Courses Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% reducing balance

Freehold land and buildings

Straight line over 125 years

Property improvements

Straight line over 50 years

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

The Dr. Bob Courses Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

The Dr. Bob Courses Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 2 (2022 - 2).

4

Tangible assets

Long leasehold land and buildings
£

Property improvements
 £

Furniture, fittings and equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

783,251

493,896

534,630

49,490

1,861,267

Additions

-

-

891

-

891

At 31 March 2023

783,251

493,896

535,521

49,490

1,862,158

Depreciation

At 1 April 2022

87,724

124,986

503,464

12,373

728,547

Charge for the year

6,266

9,878

8,014

9,279

33,437

At 31 March 2023

93,990

134,864

511,478

21,652

761,984

Carrying amount

At 31 March 2023

689,261

359,032

24,043

27,838

1,100,174

At 31 March 2022

695,527

368,910

31,166

37,117

1,132,720

Included within the net book value of land and buildings above is £689,261 (2022 - £695,527) in respect of long leasehold land and buildings.
 

5

Stocks

2023
£

2022
£

Other inventories

48,497

67,314

 

The Dr. Bob Courses Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Debtors

2023
£

2022
£

Other debtors

434,903

268,743

7

Creditors

Due within one year

Note

2023
£

2022
£

 

Loans and borrowings

8

87,344

88,479

Trade creditors

 

7,220

6,160

Amounts due to related parties

9

-

762

Social security and other taxes

 

31,929

72,812

Accruals

 

125,761

268,454

Corporation tax liability

121,221

78,012

 

373,475

514,679

Due after one year

 

Loans and borrowings

8

52,988

138,916

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

52,988

138,916

2023
£

2022
£

Current loans and borrowings

Bank borrowings

87,344

88,479

Bank borrowings of £103,878 (2022: £181,222) are secured against the assets of the company and finance lease liabilities are secured against the assets to which they relate.

 

The Dr. Bob Courses Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

9

Related party transactions

Key management personnel

Key management is considered to be the director.

Summary of transactions with key management

During the year the company provided a loan to key management. No interest was charged by the company (2022: 2-2.25%) on the loan and the loan is repayable on demand.
 

Loans to related parties

2023

Key management
£

Advanced

112,672

At end of period

112,672

2022

Key management
£

At start of period

95,608

Advanced

42,614

Repaid

(138,222)

At end of period

-