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COMPANY REGISTRATION NUMBER: 10301661
Education Access Limited
Filleted Unaudited Financial Statements
31 July 2023
Education Access Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
9,298
9,272
Current assets
Debtors
6
7,311
3,520
Cash at bank and in hand
33,780
44,494
--------
--------
41,091
48,014
Creditors: amounts falling due within one year
7
10,069
14,781
--------
--------
Net current assets
31,022
33,233
--------
--------
Total assets less current liabilities
40,320
42,505
--------
--------
Net assets
40,320
42,505
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
40,319
42,504
--------
--------
Shareholders funds
40,320
42,505
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Education Access Limited
Statement of Financial Position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 16 April 2024 , and are signed on behalf of the board by:
R Thompson
Director
Company registration number: 10301661
Education Access Limited
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 37 Rushleigh Road, Majors Green, Solihull, B90 1DQ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% reducing balance
Fixtures and fittings
-
20% reducing balance
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 August 2022
10,134
7,195
17,329
Additions
2,009
342
2,351
--------
-------
--------
At 31 July 2023
12,143
7,537
19,680
--------
-------
--------
Depreciation
At 1 August 2022
6,536
1,521
8,057
Charge for the year
1,122
1,203
2,325
--------
-------
--------
At 31 July 2023
7,658
2,724
10,382
--------
-------
--------
Carrying amount
At 31 July 2023
4,485
4,813
9,298
--------
-------
--------
At 31 July 2022
3,598
5,674
9,272
--------
-------
--------
6. Debtors
2023
2022
£
£
Trade debtors
7,311
3,520
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
4
Corporation tax
5,909
6,021
Other creditors
4,160
8,756
--------
--------
10,069
14,781
--------
--------
8. Director's advances, credits and guarantees
There are no disclosures in respect of directors advances and credits.