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REGISTERED NUMBER: 09629403














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

HERRINGTON TRAINING ACADEMY LIMITED

HERRINGTON TRAINING ACADEMY LIMITED (REGISTERED NUMBER: 09629403)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HERRINGTON TRAINING ACADEMY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: S Hall





REGISTERED OFFICE: 3-4 Cairnside South
East Herrington
Sunderland
Tyne and Wear
SR3 3LS





REGISTERED NUMBER: 09629403





ACCOUNTANTS: Ribchesters
Chartered Accountants
Finchale House
Belmont Business Park
Durham
DH1 1TW

HERRINGTON TRAINING ACADEMY LIMITED (REGISTERED NUMBER: 09629403)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 58,924 73,634

CURRENT ASSETS
Stocks 20,565 23,134
Debtors 5 41,168 55,369
Cash at bank and in hand 24,439 16,270
86,172 94,773
CREDITORS
Amounts falling due within one year 6 89,189 96,605
NET CURRENT LIABILITIES (3,017 ) (1,832 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,907

71,802

CREDITORS
Amounts falling due after more than one
year

7

(49,216

)

(66,993

)

PROVISIONS FOR LIABILITIES (6,446 ) (3,681 )
NET ASSETS 245 1,128

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 244 1,127
SHAREHOLDERS' FUNDS 245 1,128

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

HERRINGTON TRAINING ACADEMY LIMITED (REGISTERED NUMBER: 09629403)

BALANCE SHEET - continued
30 JUNE 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 January 2024 and were signed by:





S Hall - Director


HERRINGTON TRAINING ACADEMY LIMITED (REGISTERED NUMBER: 09629403)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Herrington Training Academy Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover derives from the principle activity of the company which is that of a hair and beauty salon . Income from this activity is recognised as services are delivered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery ect -20% on cost

Motor Vehicles -25% reducing balance

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

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.

HERRINGTON TRAINING ACADEMY LIMITED (REGISTERED NUMBER: 09629403)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern
The directors have considered the company's ability to continue as a going concern. They anticipate that the company will continue to generate profit, and therefore continues to adopt the going concern basis in preparing it's financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 125,894
Additions 3,015
At 30 June 2023 128,909
DEPRECIATION
At 1 July 2022 52,260
Charge for year 17,725
At 30 June 2023 69,985
NET BOOK VALUE
At 30 June 2023 58,924
At 30 June 2022 73,634

HERRINGTON TRAINING ACADEMY LIMITED (REGISTERED NUMBER: 09629403)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 55,000
DEPRECIATION
At 1 July 2022 2,742
Charge for year 11,000
At 30 June 2023 13,742
NET BOOK VALUE
At 30 June 2023 41,258
At 30 June 2022 52,258

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 12,178
Other debtors 41,168 43,191
41,168 55,369

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,577 4,133
Hire purchase contracts 12,211 12,337
Trade creditors 8,187 9,727
Taxation and social security 29,158 18,752
Other creditors 34,056 51,656
89,189 96,605

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 36,016 42,199
Hire purchase contracts 13,200 24,794
49,216 66,993

HERRINGTON TRAINING ACADEMY LIMITED (REGISTERED NUMBER: 09629403)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 25,411 37,131

Liabilities in respect of finance leases are secured by way of a charge on the assets to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £0.01 1 1

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
S Hall
Balance outstanding at start of year 36,448 15,334
Amounts advanced 30,979 24,600
Amounts repaid (33,431 ) (3,486 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 33,996 36,448

11. RELATED PARTY DISCLOSURES

The company trades from premises co-owned by its director. Rent charged to the company amounted to £30,000 (2022: £29,500) in the year which is deemed by the director to be market value.