Audit Training Services Limited 05191731 false 2022-01-01 2022-12-31 2022-12-31 The principal activity of the company is is that of providing management consultancy. Digita Accounts Production Advanced 6.30.9574.0 true true 05191731 2022-01-01 2022-12-31 05191731 2022-12-31 05191731 core:RetainedEarningsAccumulatedLosses 2022-12-31 05191731 core:ShareCapital 2022-12-31 05191731 core:CurrentFinancialInstruments 2022-12-31 05191731 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 05191731 core:FurnitureFittingsToolsEquipment 2022-12-31 05191731 core:LandBuildings 2022-12-31 05191731 core:MotorVehicles 2022-12-31 05191731 bus:SmallEntities 2022-01-01 2022-12-31 05191731 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 05191731 bus:FullAccounts 2022-01-01 2022-12-31 05191731 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 05191731 bus:RegisteredOffice 2022-01-01 2022-12-31 05191731 bus:CompanySecretary1 2022-01-01 2022-12-31 05191731 bus:Director1 2022-01-01 2022-12-31 05191731 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 05191731 core:FurnitureFittingsToolsEquipment 2022-01-01 2022-12-31 05191731 core:LandBuildings 2022-01-01 2022-12-31 05191731 core:LeaseholdImprovements 2022-01-01 2022-12-31 05191731 core:MotorVehicles 2022-01-01 2022-12-31 05191731 countries:England 2022-01-01 2022-12-31 05191731 2021-12-31 05191731 core:FurnitureFittingsToolsEquipment 2021-12-31 05191731 core:LandBuildings 2021-12-31 05191731 core:MotorVehicles 2021-12-31 05191731 2021-01-01 2021-12-31 05191731 2021-12-31 05191731 core:RetainedEarningsAccumulatedLosses 2021-12-31 05191731 core:ShareCapital 2021-12-31 05191731 core:CurrentFinancialInstruments 2021-12-31 05191731 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 05191731 core:FurnitureFittingsToolsEquipment 2021-12-31 05191731 core:LandBuildings 2021-12-31 05191731 core:MotorVehicles 2021-12-31 05191731 1 2021-12-31 05191731 1 2021-01-01 2021-12-31 05191731 1 2020-12-31 iso4217:GBP xbrli:pure

Registration number: 05191731

Audit Training Services Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 December 2022

 

Audit Training Services Limited
(Registration number: 05191731)

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Audit Training Services Limited
(Registration number: 05191731)

Company Information

Director

G Bulley

Company secretary

J Bulley

Registered office

East Church Farm
East Church Lane
Hittisleigh
Devon
EX6 6LF

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Audit Training Services Limited
(Registration number: 05191731)

Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

5,185

6,647

Current assets

 

Debtors

6

9,766

23,504

Cash at bank and in hand

 

4,567

33,270

 

14,333

56,774

Creditors: Amounts falling due within one year

7

(3,684)

(17,525)

Net current assets

 

10,649

39,249

Total assets less current liabilities

 

15,834

45,896

Provisions for liabilities

(453)

(1,146)

Net assets

 

15,381

44,750

Capital and reserves

 

Called up share capital

120

120

Profit and loss account

15,261

44,630

Total equity

 

15,381

44,750

For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 15 November 2023
 

.........................................
G Bulley
Director

 

Audit Training Services Limited
(Registration number: 05191731)

Notes to the Financial Statements for the Year Ended 31 December 2022

1

General information

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

The address of its registered office is:
East Church Farm
East Church Lane
Hittisleigh
Devon
EX6 6LF

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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises 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 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.

 

Audit Training Services Limited
(Registration number: 05191731)

Notes to the Financial Statements for the Year Ended 31 December 2022

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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

Leasehold improvements

10% straight line basis

Fixtures, fittings and equipment

15% straight line basis

Motor vehicles

20% straight line basis

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.

Trade 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 inventories 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.

 

Audit Training Services Limited
(Registration number: 05191731)

Notes to the Financial Statements for the Year Ended 31 December 2022

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2021 - 2).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2022
£

2021
£

Depreciation expense

1,462

1,525

 

Audit Training Services Limited
(Registration number: 05191731)

Notes to the Financial Statements for the Year Ended 31 December 2022

5

Tangible assets

Leasehold improvements
£

Fixtures, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2022

3,807

5,310

3,375

12,492

At 31 December 2022

3,807

5,310

3,375

12,492

Depreciation

At 1 January 2022

626

3,475

1,744

5,845

Charge for the year

381

406

675

1,462

At 31 December 2022

1,007

3,881

2,419

7,307

Carrying amount

At 31 December 2022

2,800

1,429

956

5,185

At 31 December 2021

3,181

1,835

1,631

6,647

6

Debtors

Note

2022
£

2021
£

Amounts owed by connected companies

8

9,639

14,816

Other debtors

 

127

8,500

Prepayments and accrued income

 

-

188

Total current trade and other debtors

 

9,766

23,504

7

Creditors

2022
£

2021
£

Due within one year

Trade creditors

63

63

Taxation and social security

497

14,439

Other creditors

624

823

Accrued expenses

2,500

2,200

3,684

17,525

 

Audit Training Services Limited
(Registration number: 05191731)

Notes to the Financial Statements for the Year Ended 31 December 2022

8

Related party transactions

2021

At 1 January 2021
£

Advances to director
£

At 31 December 2021
£

Unsecured interest free loan repayable on demand

907

(907)

-