Athona Education Limited
Unaudited Financial Statements
For the year ended 31 July 2023
Pages for Filing with Registrar
Company Registration No. 10636498 (England and Wales)
Athona Education Limited
Company Information
Directors
S D London
T London
Company number
10636498
Registered office
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Business address
2nd Floor, Kingsgate House
1 King Edward Road
Brentwood
Essex
Athona Education Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
Athona Education Limited
Balance Sheet
As at 31 July 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
86,301
115,549
Tangible assets
5
322
588
86,623
116,137
Current assets
Debtors
6
388,000
279,574
Cash at bank and in hand
425
1,053
388,425
280,627
Creditors: amounts falling due within one year
7
(757,869)
(802,784)
Net current liabilities
(369,444)
(522,157)
Net liabilities
(282,821)
(406,020)
Capital and reserves
Called up share capital
8
35,879
35,879
Share premium account
562,240
562,240
Profit and loss reserves
(880,940)
(1,004,139)
Total equity
(282,821)
(406,020)

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

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

Athona Education Limited
Balance Sheet (Continued)
As at 31 July 2023
Page 2
The financial statements were approved by the board of directors and authorised for issue on 15 April 2024 and are signed on its behalf by:
S D London
Director
Company Registration No. 10636498
Athona Education Limited
Notes to the Financial Statements
For the year ended 31 July 2023
Page 3
1
Accounting policies
Company information

Athona Education Limited is a private company limited by shares incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ and the business address is Kingsgate House, 2nd Floor,1 King Edward Road, Brentwood, Essex, CM14 4HG.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of 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 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 pound.

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

1.2
Going concern

Atruet the balance sheet date, the company has net liabilities of £282,821 (2022: £406,020). Included within current liabilities is a balance of £545,904 (2022: £605,523) due to Athona Limited, a company under common control by the directors. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and Athona Limited has agreed to continue to support the company for the foreseeable future and for at least a period of 12 months following the approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover represents revenue earned under a variety of contracts to provide professional recruitment services. Turnover is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

Athona Education Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2023
1
Accounting policies
(Continued)
Page 4
1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

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

Software
25% straight line
1.6
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 basis:

Fixtures and fittings
25% straight line
Computers
25% straight line

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 profit or loss.

1.7
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.

1.8
Financial instruments

All of the company's financial assets and liabilities are basic and measured at amortised cost.

 

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss 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.

Athona Education Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2023
1
Accounting policies
(Continued)
Page 5
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised.

1.11
Retirement benefits

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.12
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 11 (2022: 10).
3
Taxation
The company has tax losses of £748,376 (2022: £899,827) available for offset against future profits.
Athona Education Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2023
Page 6
4
Intangible fixed assets
Goodwill
Software
Total
£
£
£
Cost
At 1 August 2022 and 31 July 2023
214,933
43,036
257,969
Amortisation and impairment
At 1 August 2022
116,421
25,999
142,420
Amortisation charged for the year
21,494
7,754
29,248
At 31 July 2023
137,915
33,753
171,668
Carrying amount
At 31 July 2023
77,018
9,283
86,301
At 31 July 2022
98,512
17,037
115,549
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 and 31 July 2023
13,828
Depreciation and impairment
At 1 August 2022
13,240
Depreciation charged in the year
266
At 31 July 2023
13,506
Carrying amount
At 31 July 2023
322
At 31 July 2022
588
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
305,729
253,424
Other debtors
82,271
26,150
388,000
279,574
Athona Education Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2023
Page 7
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
15,685
-
0
Taxation and social security
170,870
168,724
Other creditors
559,045
616,994
Accruals and deferred income
12,269
17,066
757,869
802,784

Included within other creditors at the year end are outstanding pension contributions of £8,897 (2022: £8,142).

8
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
32,000 Ordinary A shares of £1 each
32,000
32,000
3,879 Ordinary B shares of £1 each
3,879
3,879
35,879
35,879

The Ordinary A shares and the Ordinary B shares rank pari passu in all respects apart from the Ordinary B shares do not carry a right to vote and do not carry a right to a dividend.

 

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