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REGISTERED NUMBER: SC519113 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Academy House Education Limited

Academy House Education Limited (Registered number: SC519113)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Academy House Education Limited (Registered number: SC519113)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 22,455 30,103

CURRENT ASSETS
Debtors 5 1,483 380
Cash at bank 5,368 5,017
6,851 5,397
CREDITORS
Amounts falling due within one year 6 (13,434 ) (56,250 )
NET CURRENT LIABILITIES (6,583 ) (50,853 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,872

(20,750

)

CREDITORS
Amounts falling due after more than one year 7 (16,378 ) (15,610 )
NET LIABILITIES (506 ) (36,360 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (508 ) (36,362 )
(506 ) (36,360 )

Academy House Education Limited (Registered number: SC519113)

Balance Sheet - continued
31 March 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 March 2024 and were signed by:





Mr R A J Miller - Director


Academy House Education Limited (Registered number: SC519113)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Academy House Education Limited is a private company, limited by shares, domiciled in Scotland, registration number SC519113. The registered office is Unit 5 Gateway Business Park, Beancross Road, Grangemouth, Stirlingshire, Scotland, FK3 8WX.

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 represents net invoiced sales of goods and services in respect of hairdressing training, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

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.

Academy House Education Limited (Registered number: SC519113)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 17,360 15,525 32,885
DEPRECIATION
At 1 April 2022 527 2,255 2,782
Charge for year 2,525 5,123 7,648
At 31 March 2023 3,052 7,378 10,430
NET BOOK VALUE
At 31 March 2023 14,308 8,147 22,455
At 31 March 2022 16,833 13,270 30,103

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Amounts owed by related parties 1,483 380

Academy House Education Limited (Registered number: SC519113)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 1,244 2,634
Amounts owed to related parties 6,041 44,752
Taxation and social security 1,179 1,179
Other creditors 4,970 7,685
13,434 56,250

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 16,378 15,610

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 11,402 5,073

8. RELATED PARTY DISCLOSURES

Companies under common control

At the year end the company was owed £1,483 (2022 - £380) by companies with common directors and shareholders.

At the year end the company owed £6,041 (2022 - £44,752) to companies with common directors and shareholders.