Registered number
09304094
Grays Learning Centre Limited
Filleted Accounts
30 November 2023
Grays Learning Centre Limited
Registered number: 09304094
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 350,384 350,040
Current assets
Debtors 5 180,000 50,000
Cash at bank and in hand 30,872 127,206
210,872 177,206
Creditors: amounts falling due within one year 6 (97,339) (95,434)
Net current assets 113,533 81,772
Net assets 463,917 431,812
Capital and reserves
Called up share capital 2 2
Profit and loss account 463,915 431,810
Shareholders' funds 463,917 431,812
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Usman Sajid Rahim
Director
Approved by the board on 9 April 2024
Grays Learning Centre Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Functional and presentation currency
The financial statements of the company are measured and presented in the currency of the primary economic environment in which the company operates, the functional currency. The financial statements are presented in Pound sterling (£), which is the company’s functional currency.
Employee benefits
Short-term employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

Post-employment defined contribution plans
Amounts in respect of defined contributions plans are recognised as an expense as they are incurred.

Termination benefits
Provisions for termination benefits are recognised only when the company is demonstrably committed to terminate the employment of an employee or of a group of employees before their normal retirement date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy.
Going concern
The financial statements have been prepared on the basis that the company will receive continued financial support from bank and directors and has adequate resources to continue in operational existence for the foreseeable future.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 291,000
At 30 November 2023 291,000
Amortisation
At 1 December 2022 291,000
At 30 November 2023 291,000
Net book value
At 30 November 2023 -
4 Tangible fixed assets
Land and buildings Fixtures, fittings, tools and equipment Total
£ £ £
Cost
At 1 December 2022 349,708 1,380 351,088
Additions - 569 569
At 30 November 2023 349,708 1,949 351,657
Depreciation
At 1 December 2022 - 1,048 1,048
Charge for the year - 225 225
At 30 November 2023 - 1,273 1,273
Net book value
At 30 November 2023 349,708 676 350,384
At 30 November 2022 349,708 332 350,040
5 Debtors 2023 2022
£ £
Other debtors 180,000 50,000
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 41,532 37,611
Other creditors 55,807 57,823
97,339 95,434
7 Related party transactions
Included within other creditors is a directors' loan of £54,487 (2022 - £56,504).
8 Controlling party
The directors do not consider there to be an ultimate controlling party.
9 Other information
Grays Learning Centre Limited is a private company limited by shares and incorporated in England. Its registered office is:
12 London Road
Grays
Essex
RM17 5XY
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