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2023-05-31
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No description of principal activities is disclosed
2022-06-01
Sage Accounts Production 21.0 - FRS102_2021
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08534985
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2023-05-31
08534985
2023-05-31
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2022-05-31
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2022-05-31
08534985
2022-05-31
08534985
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08534985
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2023-05-31
08534985
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2023-05-31
08534985
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2023-05-31
08534985
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2022-05-31
08534985
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08534985
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2023-05-31
08534985
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2022-05-31
08534985
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2023-05-31
08534985
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2022-05-31
08534985
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08534985
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2022-05-31
08534985
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2023-05-31
08534985
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08534985
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2022-05-31
08534985
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08534985
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2022-05-31
08534985
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08534985
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08534985
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2022-05-31
08534985
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08534985
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2022-05-31
08534985
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2022-05-31
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2023-05-31
Company registration number:
08534985
POPCORN SCHOOL LTD
Unaudited filleted financial statements
31 May 2023
POPCORN SCHOOL LTD
Contents
Directors and other information
Accountant's report
Statement of financial position
Notes to the financial statements
POPCORN SCHOOL LTD
Directors and other information
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Directors |
Mr S Horton |
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Mr R Horton |
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Company number |
08534985 |
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Registered office |
1 Shortbutts Lane |
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Lichfield |
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WS14 9BT |
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Accountant |
J Pedley-Smith |
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38 Newick Avenue |
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Sutton Coldfield |
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West Midlands |
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B74 3DA |
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POPCORN SCHOOL LTD
Report to the board of directors on the preparation of the
unaudited statutory financial statements of POPCORN SCHOOL LTD
Year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of POPCORN SCHOOL LTD for the year ended 31 May 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Association of Chartered Certified Accountants , I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of POPCORN SCHOOL LTD, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of POPCORN SCHOOL LTD and state those matters that we have agreed to state to the board of directors of POPCORN SCHOOL LTD as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than POPCORN SCHOOL LTD and its board of directors as a body for my work or for this report.
It is your duty to ensure that POPCORN SCHOOL LTD has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of POPCORN SCHOOL LTD. You consider that POPCORN SCHOOL LTD is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of POPCORN SCHOOL LTD. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
J Pedley-Smith
Chartered Certified Accountant
38 Newick Avenue
Sutton Coldfield
West Midlands
B74 3DA
14 February 2024
POPCORN SCHOOL LTD
Statement of financial position
31 May 2023
|
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2023 |
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|
2022 |
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Note |
£ |
|
£ |
|
£ |
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£ |
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|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
37 |
|
|
|
49 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
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37 |
|
|
|
49 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
2,808 |
|
|
|
2,785 |
|
|
Debtors |
|
6 |
1,196 |
|
|
|
910 |
|
|
Cash at bank and in hand |
|
|
4,892 |
|
|
|
1,014 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
8,896 |
|
|
|
4,709 |
|
|
Creditors: amounts falling due |
|
|
|
|
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|
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|
within one year |
|
7 |
(
86,488) |
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|
|
(
88,251) |
|
|
|
|
|
_______ |
|
|
|
_______ |
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|
Net current liabilities |
|
|
|
|
(
77,592) |
|
|
|
(
83,542) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
(
77,555) |
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|
|
(
83,493) |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net liabilities |
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|
|
|
(
77,555) |
|
|
|
(
83,493) |
|
|
|
|
|
_______ |
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|
_______ |
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Capital and reserves |
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Called up share capital |
|
8 |
|
|
2 |
|
|
|
2 |
Profit and loss account |
|
|
|
|
(
77,557) |
|
|
|
(
83,495) |
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|
|
|
|
_______ |
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|
_______ |
Shareholders deficit |
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|
(
77,555) |
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|
(
83,493) |
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|
|
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|
_______ |
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_______ |
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For the year ending 31 May 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
14 February 2024
, and are signed on behalf of the board by:
Mr R Horton
Director
Company registration number:
08534985
POPCORN SCHOOL LTD
Notes to the financial statements
Year ended 31 May 2023
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 1 Shortbutts Lane, Lichfield, WS14 9BT.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis assuming the continued support of the Directors.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
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Fittings fixtures and equipment |
- |
25 % |
reducing balance |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2022:
2
).
5.
Tangible assets
|
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Fixtures, fittings and equipment |
Total |
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|
£ |
£ |
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Cost |
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At 1 June 2022 and 31 May 2023 |
446 |
446 |
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|
_______ |
_______ |
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Depreciation |
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At 1 June 2022 |
397 |
397 |
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Charge for the year |
12 |
12 |
|
|
|
|
|
|
|
_______ |
_______ |
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At 31 May 2023 |
409 |
409 |
|
|
|
|
|
|
|
_______ |
_______ |
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|
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Carrying amount |
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|
|
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At 31 May 2023 |
37 |
37 |
|
|
|
|
|
|
|
_______ |
_______ |
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|
|
|
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At 31 May 2022 |
49 |
49 |
|
|
|
|
|
|
|
_______ |
_______ |
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|
|
|
|
|
|
|
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6.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
1,196 |
910 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Other creditors |
|
86,488 |
88,251 |
|
|
|
_______ |
_______ |
|
|
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8.
Called up share capital
Issued, called up and fully paid
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
1.00 each |
|
2 |
|
2 |
|
2 |
|
2 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
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9.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
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2023 |
|
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Balance brought forward |
Amounts repaid |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Mr S Horton |
(
39,157) |
1,385 |
(
37,772) |
|
|
|
|
Mr R Horton |
(
48,754) |
398 |
(
48,356) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
(
87,911) |
1,783 |
(
86,128) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Amounts repaid |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Mr S Horton |
(
41,171) |
2,014 |
(
39,157) |
|
|
|
|
Mr R Horton |
(
50,018) |
1,264 |
(
48,754) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
(
91,189) |
3,278 |
(
87,911) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
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The amounts in brackets are owed to the directors by the company at the year end. The loans are repayable on demand and are interest free.