Potty Training Academy Ltd 09447271 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is the supply of educational training and literature. Digita Accounts Production Advanced 6.30.9574.0 true true 09447271 2022-03-01 2023-02-28 09447271 2023-02-28 09447271 bus:Director1 1 2023-02-28 09447271 bus:Director2 1 2023-02-28 09447271 core:CurrentFinancialInstruments 2023-02-28 09447271 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 09447271 core:FurnitureFittingsToolsEquipment 2023-02-28 09447271 core:MotorVehicles 2023-02-28 09447271 core:OtherPropertyPlantEquipment 2023-02-28 09447271 bus:SmallEntities 2022-03-01 2023-02-28 09447271 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 09447271 bus:FullAccounts 2022-03-01 2023-02-28 09447271 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 09447271 bus:RegisteredOffice 2022-03-01 2023-02-28 09447271 bus:Director1 2022-03-01 2023-02-28 09447271 bus:Director1 1 2022-03-01 2023-02-28 09447271 bus:Director2 2022-03-01 2023-02-28 09447271 bus:Director2 1 2022-03-01 2023-02-28 09447271 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 09447271 core:ComputerEquipment 2022-03-01 2023-02-28 09447271 core:FurnitureFittings 2022-03-01 2023-02-28 09447271 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 09447271 core:MotorVehicles 2022-03-01 2023-02-28 09447271 core:OfficeEquipment 2022-03-01 2023-02-28 09447271 core:OtherPropertyPlantEquipment 2022-03-01 2023-02-28 09447271 1 2022-03-01 2023-02-28 09447271 countries:England 2022-03-01 2023-02-28 09447271 2022-02-28 09447271 bus:Director1 1 2022-02-28 09447271 bus:Director2 1 2022-02-28 09447271 core:FurnitureFittingsToolsEquipment 2022-02-28 09447271 core:MotorVehicles 2022-02-28 09447271 core:OtherPropertyPlantEquipment 2022-02-28 09447271 2021-03-01 2022-02-28 09447271 2022-02-28 09447271 bus:Director1 1 2022-02-28 09447271 bus:Director2 1 2022-02-28 09447271 core:CurrentFinancialInstruments 2022-02-28 09447271 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 09447271 core:FurnitureFittingsToolsEquipment 2022-02-28 09447271 core:MotorVehicles 2022-02-28 09447271 core:OtherPropertyPlantEquipment 2022-02-28 09447271 bus:Director1 1 2021-03-01 2022-02-28 09447271 bus:Director2 1 2021-03-01 2022-02-28 09447271 bus:Director1 1 2021-02-28 09447271 bus:Director2 1 2021-02-28 iso4217:GBP xbrli:pure

Registration number: 09447271

Potty Training Academy Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Potty Training Academy Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Potty Training Academy Ltd

Company Information

Directors

Mrs A F Jenner

Mr D J Jenner

Registered office

10 Brunstead Road
Poole
Dorset
BH12 1EJ

Accountants

Wilkinsons Accountants Limited
Chartered Certified Accountants
The Old Exchange
521 Wimborne Road East
Ferndown
Dorset
BH22 9NH

 

Potty Training Academy Ltd

(Registration number: 09447271)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,277

1,608

Current assets

 

Stocks

5

5,957

7,930

Debtors

6

2,750

3,179

 

8,707

11,109

Creditors: Amounts falling due within one year

7

(28,835)

(39,621)

Net current liabilities

 

(20,128)

(28,512)

Net liabilities

 

(18,851)

(26,904)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(18,951)

(27,004)

Shareholders' deficit

 

(18,851)

(26,904)

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 2 November 2023 and signed on its behalf by:
 

.........................................
Mr D J Jenner
Director

 

Potty Training Academy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

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

The address of its registered office is:
10 Brunstead Road
Poole
Dorset
BH12 1EJ

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.

The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £1.

Going concern

The company made a profit of £8,053 (2022 - £29,671) and had a net balance sheet deficit of £18,851 (2022 - £26,904) at the balance sheet date and is dependent on the continued support of its directors.

The directors have given their assurances that they will provide sufficient further finance as may prove necessary to meet the company's working capital requirements for the foreseeable future.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services
to customers.

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

Website costs

25% reducing balance

 

Potty Training Academy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

2

Accounting policies (continued)

Fixtures and fittings

15% reducing balance

Computer equipment

3 years straight line

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.

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.

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.

Exceptional items

Exceptional items are non-recurring material items which are outside the normal scope of the company's ordinary activities. Such items are disclosed separately within the financial statements.

3

Staff numbers

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

 

Potty Training Academy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Fixtures and fittings
£

Office equipment
 £

Website costs
 £

Total
£

Cost or valuation

At 1 March 2022

1,875

2,111

5,400

9,386

At 28 February 2023

1,875

2,111

5,400

9,386

Depreciation

At 1 March 2022

1,168

2,111

4,499

7,778

Charge for the year

106

-

225

331

At 28 February 2023

1,274

2,111

4,724

8,109

Carrying amount

At 28 February 2023

601

-

676

1,277

At 28 February 2022

707

-

901

1,608

5

Stocks

2023
£

2022
£

Other inventories

5,957

7,930

6

Debtors

2023
£

2022
£

Prepayments

-

620

Other debtors

2,750

2,559

2,750

3,179

 

Potty Training Academy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

9,002

19,987

Trade creditors

 

220

107

Accruals and deferred income

 

1,932

1,860

Other creditors

 

17,681

17,667

 

28,835

39,621

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

10,075

Bank overdrafts

9,002

9,912

9,002

19,987

Bank borrowings

Lloyds Bank Plc hold a fixed and floating charge over the company's assets. The directors have provided a joint guarantee to secure the bank borrowing.

 

Potty Training Academy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

9

Related party transactions

Transactions with directors

2023

At 1 March 2022
£

Advances to director
£

At 28 February 2023
£

Mrs A F Jenner

Loan - interest free, unsecured and repayable on demand

966

96

1,062

       
     

Mr D J Jenner

Loan - interest free, unsecured and repayable on demand

966

95

1,061

       
     

 

2022

At 1 March 2021
£

At 28 February 2022
£

Mrs A F Jenner

Loan - interest free, unsecured and repayable on demand

966

966

     
   

Mr D J Jenner

Loan - interest free, unsecured and repayable on demand

966

966