Registration number:
Networking Catholic Education Trust Limited
(A company limited by guarantee)
for the Year Ended 31 August 2023
Networking Catholic Education Trust Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Networking Catholic Education Trust Limited
Company Information
Directors |
Mr W Slavin Dr J.L. McHugh Mr. W.P. Boylan Mr. J.A. Clark Mr. D.L. Mahon Mr K Quigley Mr. J.C. Shoreland Mrs. M.A.C. O'Malley |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Networking Catholic Education Trust Limited
for the Year Ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Networking Catholic Education Trust Limited for the year ended 31 August 2023 as set out on pages 3 to 5 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Networking Catholic Education Trust Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Networking Catholic Education Trust Limited and state those matters that we have agreed to state to the Board of Directors of Networking Catholic Education Trust Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Networking Catholic Education Trust Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Networking Catholic Education Trust Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Networking Catholic Education Trust Limited. You consider that Networking Catholic Education Trust Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Networking Catholic Education Trust Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Accountants
Colne
Lancashire
BB8 9DG
Networking Catholic Education Trust Limited
(Registration number: 04503235)
Balance Sheet as at 31 August 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
- |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
- |
( |
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Net assets |
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Reserves |
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Retained earnings |
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Surplus |
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For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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
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Networking Catholic Education Trust Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
General information |
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
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 |
Office equipment |
15% reducing balance |
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.
Networking Catholic Education Trust Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Staff numbers |
The average number of persons employed by the company (including directors) during the year was
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 September 2022 |
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At 31 August 2023 |
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Depreciation |
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At 1 September 2022 |
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Charge for the year |
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At 31 August 2023 |
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Carrying amount |
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At 31 August 2023 |
- |
- |
At 31 August 2022 |
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Accruals and deferred income |
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