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Registered number: 10268211
Clayton Wilson Education Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2023
Merranti Accounting Ltd
10 Scandia-Hus Business Park Felcourt Road
Felcourt
East Grinstead
Surrey
RH19 2LP
Unaudited Financial Statements
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountants' Report
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Clayton Wilson Education Ltd for the year ended 31 July 2023 which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have given us.
This report is made solely to the director of Clayton Wilson Education Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Clayton Wilson Education Ltd and state those matters that we have agreed to state to the director of Clayton Wilson Education Ltd in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.
It is your duty to ensure that Clayton Wilson Education 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 Clayton Wilson Education Ltd . You consider that Clayton Wilson Education Ltd 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 financial statements of Clayton Wilson Education Ltd . 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 financial statements.
Signed
Merranti Accounting Ltd
2 April 2024
Merranti Accounting Ltd
10 Scandia-Hus Business Park Felcourt Road
Felcourt
East Grinstead
Surrey
RH19 2LP
Page 1
Page 2
Balance Sheet
Registered number: 10268211
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 603 804
603 804
CURRENT ASSETS
Debtors 5 95 95
Cash at bank and in hand 82 -
177 95
Creditors: Amounts Falling Due Within One Year 6 (2,031 ) (1,364 )
NET CURRENT ASSETS (LIABILITIES) (1,854 ) (1,269 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,251 ) (465 )
Creditors: Amounts Falling Due After More Than One Year 7 (1,133 ) (1,269 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (115 ) (153 )
NET LIABILITIES (2,499 ) (1,887 )
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account (2,599 ) (1,987 )
SHAREHOLDERS' FUNDS (2,499) (1,887)
Page 2
Page 3
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr C Wilson
Director
2 April 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Clayton Wilson Education Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10268211 . The registered office is 10 Scandia-Hus Business Park Felcourt Road, Felcourt, East Grinstead, West Sussex, RH19 2LP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Reducing balance
Computer Equipment 25% straight line
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 4
Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: 1)
- 1
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 August 2022 9,414
As at 31 July 2023 9,414
Depreciation
As at 1 August 2022 8,610
Provided during the period 201
As at 31 July 2023 8,811
Net Book Value
As at 31 July 2023 603
As at 1 August 2022 804
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 95 95
95 95
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 400 456
Other creditors 1,631 908
2,031 1,364
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 1,133 1,269
1,133 1,269
Page 5