Company registration number 08650911 (England and Wales)
NATIONAL TEACHER ACCREDITATION LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
NATIONAL TEACHER ACCREDITATION LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
NATIONAL TEACHER ACCREDITATION LTD
BALANCE SHEET
AS AT
31 AUGUST 2023
31 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
338
504
Current assets
Debtors
5
4,981
53,315
Cash at bank and in hand
275,045
226,291
280,026
279,606
Creditors: amounts falling due within one year
6
(53,256)
(134,990)
Net current assets
226,770
144,616
Net assets
227,108
145,120
Reserves
Income and expenditure account
227,108
145,120
Members' funds
227,108
145,120

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

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 the provisions of FRS102 Section 1A - Small Entities.

The financial statements were approved by the board of directors and authorised for issue on 19 January 2024 and are signed on its behalf by:
Jane Aukett
Director
Company Registration No. 08650911
NATIONAL TEACHER ACCREDITATION LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 2 -
1
Accounting policies
Company information

National Teacher Accreditation Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Suite 1, Whiteley Mill Offices, 39 Nottingham Road, Stapleford, Nottingham, NG9 8AD.

 

The company registration number is 08650911 and its principal activity is to conduct educational support activities in respect of induction, assessment and accreditation for Early Career Teachers.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention unless otherwise stated. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group.

 

The financial statements of the company are consolidated in the financial statements of Confederation of School Trusts for the year ended 31 August 2022. These consolidated financial statements are available from its registered office, Suite 1, Whiteley Mill Offices, 39 Nottingham Road, Nottingham NG9 8AD.

1.2
Going concern

Following proposed changes to accreditation for Early Careers Teachers the truedirectors have decided to permanently cease all activities of the company on 31 August 2024. Following this decision, the going concern basis of accounting is not appropriate in the preparation of these financial statements. No adjustment is considered necessary to the amounts in these financial statements in respect of the non-going concern basis.

1.3
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

 

Where fees are invoiced in advance during the year the part that relates to future accounting periods is carried forward as deferred income.

 

Expenses include VAT where applicable as the company cannot reclaim it.

NATIONAL TEACHER ACCREDITATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 3 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the income and expenditure account.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
straight line over three years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the income and expenditure account.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

NATIONAL TEACHER ACCREDITATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Taxation

The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from net surplus as reported in the income and expenditure account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

NATIONAL TEACHER ACCREDITATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Directors
5
5
Leadership team
1
1
Administration
1
1
Total
7
7

Their aggregate remuneration comprised:

2023
2022
£
£
Wages and salaries
68,844
61,617
Social security costs
6,414
6,060
Pension costs
6,709
6,182
81,967
73,859
3
Taxation
2023
2022
£
£
Current tax
UK corporation tax on surplus for the current period
21,353
9,808
4
Tangible fixed assets
Computer equipment
£
Cost
At 1 September 2022 and 31 August 2023
504
Depreciation and impairment
At 1 September 2022
-
0
Depreciation charged in the year
166
At 31 August 2023
166
Carrying amount
At 31 August 2023
338
At 31 August 2022
504
NATIONAL TEACHER ACCREDITATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 6 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
4,471
53,015
Other debtors
510
300
4,981
53,315
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
14,565
2,515
Amounts owed to group undertakings
8,944
-
0
Corporation tax
21,353
9,808
Other creditors
8,394
122,667
53,256
134,990
7
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Emphasis of matter

We draw attention to note 1.2 in the financial statements which explains that the company will permanently cease its activities on 31 August 2024 and therefore the directors do not consider it appropriate to adopt the going concern basis of accounting in preparing these financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern, as described in note 1.2. Our opinion is not modified in respect of this matter.

Senior Statutory Auditor:
Mark Gurney FCCA
Statutory Auditor:
Dains Audit Limited
9
Ultimate controlling party

The company's ultimate controlling party is the Confederation of School Trusts, a charitable company registered in England and Wales.

2023-08-312022-09-01false01 February 2024CCH SoftwareCCH Accounts Production 2023.100No description of principal activityThis audit opinion is unqualifiedJ AukettStephen SnelsonS TwiseltonPamela WrightAshfaq RahmanRobert McdonoughRoy BlackwellClare Robson-Farrelly086509112022-09-012023-08-31086509112023-08-31086509112022-08-3108650911core:OtherPropertyPlantEquipment2023-08-3108650911core:OtherPropertyPlantEquipment2022-08-3108650911core:CurrentFinancialInstrumentscore:WithinOneYear2023-08-3108650911core:CurrentFinancialInstrumentscore:WithinOneYear2022-08-3108650911core:CurrentFinancialInstruments2023-08-3108650911core:CurrentFinancialInstruments2022-08-3108650911core:RetainedEarningsAccumulatedLosses2023-08-3108650911core:RetainedEarningsAccumulatedLosses2022-08-3108650911bus:Director12022-09-012023-08-3108650911core:ComputerEquipment2022-09-012023-08-31086509112021-09-012022-08-3108650911core:UKTax2022-09-012023-08-3108650911core:UKTax2021-09-012022-08-3108650911core:OtherPropertyPlantEquipment2022-08-3108650911core:OtherPropertyPlantEquipment2022-09-012023-08-3108650911bus:CompanyLimitedByGuarantee2022-09-012023-08-3108650911bus:SmallCompaniesRegimeForAccounts2022-09-012023-08-3108650911bus:FRS1022022-09-012023-08-3108650911bus:Audited2022-09-012023-08-3108650911bus:Director22022-09-012023-08-3108650911bus:Director32022-09-012023-08-3108650911bus:Director42022-09-012023-08-3108650911bus:Director52022-09-012023-08-3108650911bus:Director62022-09-012023-08-3108650911bus:Director72022-09-012023-08-3108650911bus:CompanySecretary12022-09-012023-08-3108650911bus:FullAccounts2022-09-012023-08-31xbrli:purexbrli:sharesiso4217:GBP