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REGISTERED NUMBER: 03411472 (England and Wales)












THE LANCASHIRE COLLEGES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






THE LANCASHIRE COLLEGES LIMITED (REGISTERED NUMBER: 03411472)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE LANCASHIRE COLLEGES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Ms K Buchanan
Mr N Burnham
Dr F Dad
Mr P W Johnson
Ms C E Russell
Ms L M O'Loughlin
Mr S R Nixon
Mr D Braithwaite
Mr A Francis





REGISTERED OFFICE: c/o Preston College
St Vincent's Road
Fulwood
Preston
Lancashire
PR2 8UR





REGISTERED NUMBER: 03411472 (England and Wales)





ACCOUNTANTS: Rushtons
Chartered Accountants
Shorrock House
1 Faraday Court
Fulwood
Preston
Lancashire
PR2 9NB

THE LANCASHIRE COLLEGES LIMITED (REGISTERED NUMBER: 03411472)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 476 820

CURRENT ASSETS
Debtors 5 69,595 229,255
Cash at bank 453,241 489,678
522,836 718,933
CREDITORS
Amounts falling due within one year 6 8,431 249,103
NET CURRENT ASSETS 514,405 469,830
TOTAL ASSETS LESS CURRENT
LIABILITIES

514,881

470,650

RESERVES
Income and expenditure account 514,881 470,650
514,881 470,650

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

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

The directors acknowledge their 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 surplus or deficit 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 LANCASHIRE COLLEGES LIMITED (REGISTERED NUMBER: 03411472)

BALANCE SHEET - continued
31 JULY 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 April 2024 and were signed on its behalf by:





Mr P W Johnson - Director


THE LANCASHIRE COLLEGES LIMITED (REGISTERED NUMBER: 03411472)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

The Lancashire Colleges Limited is a private company, limited by guarantee , 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.

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 £.

Income and expenditure
Income is included in the financial statements as it becomes receivable.

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

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

Computer Equipment - 33% 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 surplus or deficit.

Taxation
Taxation for the year relates to current. 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 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.

The company meets the definition of a mutual trading company and any surplus from mutual trading is not liable for corporation tax. Any income which does not fall under the definition of mutual trading is subject to corporation tax.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

THE LANCASHIRE COLLEGES LIMITED (REGISTERED NUMBER: 03411472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 August 2022 1,635
Disposals (115 )
At 31 July 2023 1,520
DEPRECIATION
At 1 August 2022 815
Charge for year 343
Eliminated on disposal (114 )
At 31 July 2023 1,044
NET BOOK VALUE
At 31 July 2023 476
At 31 July 2022 820

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 68,187 228,354
Prepayments and accrued income 1,408 901
69,595 229,255

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 436 22
Social security and other taxes 1,624 1,431
Pensions 2,189 2,263
Accruals and deferred income 4,182 245,387
8,431 249,103

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.