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REGISTERED NUMBER: 11955063 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

PK EDUCATION LIMITED

PK EDUCATION LIMITED (REGISTERED NUMBER: 11955063)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PK EDUCATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: P R Gallagher
K J Housley





REGISTERED OFFICE: 4th Floor
St James House
Vicar Lane
Sheffield
S1 2EX





REGISTERED NUMBER: 11955063 (England and Wales)





ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB

PK EDUCATION LIMITED (REGISTERED NUMBER: 11955063)

BALANCE SHEET
31 JULY 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 38,021 44,271
Tangible assets 5 54,219 75,594
92,240 119,865

CURRENT ASSETS
Debtors 6 1,085,497 726,745
Cash at bank 189,071 248,264
1,274,568 975,009
CREDITORS
Amounts falling due within one year 7 1,022,468 887,073
NET CURRENT ASSETS 252,100 87,936
TOTAL ASSETS LESS CURRENT LIABILITIES 344,340 207,801

CREDITORS
Amounts falling due after more than
one year

8

(23,809

)

(80,952

)

PROVISIONS FOR LIABILITIES (3,482 ) (2,120 )
NET ASSETS 317,049 124,729

CAPITAL AND RESERVES
Called up share capital 11 2 2
Capital redemption reserve 1 1
Retained earnings 317,046 124,726
SHAREHOLDERS' FUNDS 317,049 124,729

PK EDUCATION LIMITED (REGISTERED NUMBER: 11955063)

BALANCE SHEET - continued
31 JULY 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2024 and were signed on its behalf by:





K J Housley - Director


PK EDUCATION LIMITED (REGISTERED NUMBER: 11955063)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

PK Education Limited 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 reporting period is 11 months to July 2022. The comparative figures relate to a 12 month period to August 2021. Therefore the comparatives figure are not wholly comparable to the new period.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

2. ACCOUNTING POLICIES

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

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover from the supply of education staff is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on completion of the contract.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

PK EDUCATION LIMITED (REGISTERED NUMBER: 11955063)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Tangible fixed assets are initially stated at cost and are subsequently measured at cost or valuation less accumulated depreciation and impairment losses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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

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.

Grant income
Revenue grants are recognised in the period to which they relate.

PK EDUCATION LIMITED (REGISTERED NUMBER: 11955063)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 101 (2022 - 82 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 62,500
AMORTISATION
At 1 August 2022 18,229
Amortisation for year 6,250
At 31 July 2023 24,479
NET BOOK VALUE
At 31 July 2023 38,021
At 31 July 2022 44,271

PK EDUCATION LIMITED (REGISTERED NUMBER: 11955063)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2022 92,343 26,604 118,947
Additions - 12,664 12,664
Disposals - (22,561 ) (22,561 )
At 31 July 2023 92,343 16,707 109,050
DEPRECIATION
At 1 August 2022 42,199 1,154 43,353
Charge for year 10,029 2,196 12,225
Eliminated on disposal - (747 ) (747 )
At 31 July 2023 52,228 2,603 54,831
NET BOOK VALUE
At 31 July 2023 40,115 14,104 54,219
At 31 July 2022 50,144 25,450 75,594

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 882,028 674,891
Other debtors - 4,201
Directors' current accounts 151,609 -
Prepayments and accrued income 51,860 47,653
1,085,497 726,745

PK EDUCATION LIMITED (REGISTERED NUMBER: 11955063)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 57,143 57,143
Trade creditors 13,737 29,303
Corporation tax 94,007 72,788
Social security and other taxes 83,125 56,976
VAT 155,692 139,646
Other creditors 497,555 447,992
Directors' current accounts - 959
Accruals and deferred income 121,209 82,266
1,022,468 887,073

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans 23,809 80,952

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.7.23 31.7.22
£    £   
Within one year 27,079 71,636
Between one and five years - 29,002
27,079 100,638

10. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Invoice financing 477,366 430,452

Security by the way of a fixed and floating charge over the assets of the company.

PK EDUCATION LIMITED (REGISTERED NUMBER: 11955063)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
1,000 Ordinary A 0.1p 1 1
1,000 Ordinary B 0.1p 1 1
2 2

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 July 2023 and the period ended 31 July 2022:

31.7.23 31.7.22
£    £   
P R Gallagher
Balance outstanding at start of year (148 ) 9,971
Amounts advanced 130,863 72,881
Amounts repaid (68,000 ) (83,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 62,715 (148 )

K J Housley
Balance outstanding at start of year (812 ) 30,359
Amounts advanced 161,204 69,849
Amounts repaid (71,500 ) (101,020 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 88,892 (812 )