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COMPANY REGISTRATION NUMBER: 04000429
The Education Partnership (UK) Limited
Filleted Unaudited Financial Statements
31 August 2023
The Education Partnership (UK) Limited
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
£
Current assets
Debtors
5
7,604
104
Cash at bank and in hand
71,903
22,104
--------
--------
79,507
22,208
Creditors: amounts falling due within one year
6
13,245
15,204
--------
--------
Net current assets
66,262
7,004
--------
-------
Total assets less current liabilities
66,262
7,004
Creditors: amounts falling due after more than one year
7
125,226
131,875
---------
---------
Net liabilities
( 58,964)
( 124,871)
---------
---------
Capital and reserves
Called up share capital
100
100
Share premium account
59,902
59,902
Profit and loss account
( 118,966)
( 184,873)
---------
---------
Shareholders deficit
( 58,964)
( 124,871)
---------
---------
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 income and retained earnings has not been delivered.
For the 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:
- 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 .
The Education Partnership (UK) Limited
Statement of Financial Position (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 18 January 2024 , and are signed on behalf of the board by:
C J Gray
Director
Company registration number: 04000429
The Education Partnership (UK) Limited
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Independent Grammar School, Claypath, Durham, DH1 1RH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2022: 10 ).
5. Debtors
2023
2022
£
£
Trade debtors
7,502
Other debtors
102
104
-------
----
7,604
104
-------
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
2,554
2,554
Social security and other taxes
6,510
7,460
Other creditors
4,181
5,190
--------
--------
13,245
15,204
--------
--------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
4,320
6,875
Other creditors
120,906
125,000
---------
---------
125,226
131,875
---------
---------
8. Directors' advances, credits and guarantees
Included in creditors: amounts falling due within one year is a directors loan balance of £796 (2022: £796). Included in creditors: amounts falling after one year is a directors loan balance of £15,906 (2022: £20,000). Included in creditors: amounts falling after one year is a directors loan balance of £80,000 (2022: £80,000).
9. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under the Financial Reporting Standard for Smaller Entities.