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REGISTERED NUMBER: 01344660 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Sovereign Education Limited

Sovereign Education Limited (Registered number: 01344660)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sovereign Education Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: Mrs A R Cross





REGISTERED OFFICE: The Cottage
Lodge Lane
Melling
Carnforth
Lancashire
LA6 2RE





REGISTERED NUMBER: 01344660 (England and Wales)





ACCOUNTANTS: Egan Roberts Limited
Accountants
Suite 46
Manor Court
Salesbury Hall Road
Ribchester
Lancashire
PR3 3XR

Sovereign Education Limited (Registered number: 01344660)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,836 4,754

CURRENT ASSETS
Debtors 5 21,732 28,671
Cash at bank 20,689 46,301
42,421 74,972
CREDITORS
Amounts falling due within one year 6 14,452 14,512
NET CURRENT ASSETS 27,969 60,460
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,805

65,214

CREDITORS
Amounts falling due after more than one
year

7

14,324

27,648
NET ASSETS 17,481 37,566

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 500 500
Retained earnings 15,981 36,066
SHAREHOLDERS' FUNDS 17,481 37,566

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Sovereign Education Limited (Registered number: 01344660)

Balance Sheet - continued
30 June 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 January 2024 and were signed by:





Mrs A R Cross - Director


Sovereign Education Limited (Registered number: 01344660)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Sovereign Education Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Sovereign Education Limited (Registered number: 01344660)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Short term debtors and creditors
Short term debtors and creditors with no stated rate of interest are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2022
and 30 June 2023 3,771 12,053 7,271 23,095
DEPRECIATION
At 1 July 2022 2,129 9,534 6,678 18,341
Charge for year 247 378 293 918
At 30 June 2023 2,376 9,912 6,971 19,259
NET BOOK VALUE
At 30 June 2023 1,395 2,141 300 3,836
At 30 June 2022 1,642 2,519 593 4,754

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 335 670
Other debtors 1,657 1,657
Related company 18,241 23,241
Deferred tax asset 1,499 2,862
Prepayments - 241
21,732 28,671

Sovereign Education Limited (Registered number: 01344660)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Social security and other taxes - (355 )
VAT - 323
Other creditors 2,934 2,934
Directors' current accounts 270 270
Accrued expenses 1,248 1,340
14,452 14,512

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 4,324 17,648
14,324 27,648