Registered number
10790892
Sheffield Language Centre Ltd
Filleted Accounts
31 May 2023
Sheffield Language Centre Ltd
Registered number: 10790892
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,137 7,485
Current assets
Cash at bank and in hand 18,315 31,413
Creditors: amounts falling due within one year 4 (39,798) (37,565)
Net current liabilities (21,483) (6,152)
Net (liabilities)/assets (15,346) 1,333
Capital and reserves
Called up share capital 1 1
Profit and loss account (15,347) 1,332
Shareholder's funds (15,346) 1,333
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ali Fadhle Thabet Abdul-Rub
Director
Approved by the board on 19 February 2024
Sheffield Language Centre Ltd
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 18% reducing balance method
Fixtures, fittings, tools and equipment 18% reducing balance method
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2022 1,971 5,514 7,485
At 31 May 2023 1,971 5,514 7,485
Depreciation
Charge for the year 355 993 1,348
At 31 May 2023 355 993 1,348
Net book value
At 31 May 2023 1,616 4,521 6,137
At 31 May 2022 1,971 5,514 7,485
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 9,780 9,540
Taxation and social security costs - 787
Other creditors 30,018 27,238
39,798 37,565
5 Other information
Sheffield Language Centre Ltd is a private company limited by shares and incorporated in England. Its registered office is:
105 Arundel Street
Sheffied
S1 2NT
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