Registered number
07497456
Nick Butt (Education) Limited
Filleted Accounts
31 March 2024
Nick Butt (Education) Limited
Registered number: 07497456
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 887 251
Current assets
Debtors 4 71,341 54,367
Cash at bank and in hand 5,646 -
76,987 54,367
Creditors: amounts falling due within one year 5 (53,377) (30,045)
Net current assets 23,610 24,322
Total assets less current liabilities 24,497 24,573
Creditors: amounts falling due after more than one year 6 (23,441) (24,139)
Provisions for liabilities (194) -
Net assets 862 434
Capital and reserves
Called up share capital 100 100
Profit and loss account 762 334
Shareholders' funds 862 434
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.
Mr N Butt
Director
Approved by the board on 29 July 2024
Nick Butt (Education) Limited
Notes to the Accounts
for the year ended 31 March 2024
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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:
Plant and machinery over 5-10 years via the reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future taxable profits. Current tax assets and liabilities are not discounted.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 653
Additions 932
At 31 March 2024 1,585
Depreciation
At 1 April 2023 402
Charge for the year 296
At 31 March 2024 698
Net book value
At 31 March 2024 887
At 31 March 2023 251
4 Debtors 2024 2023
£ £
Trade debtors 12,698 9,860
Other debtors 58,643 44,507
71,341 54,367
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,667 10,198
Taxation and social security costs 48,510 18,527
Other creditors 1,200 1,320
53,377 30,045
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 23,441 24,139
7 Other information
Nick Butt (Education) Limited is a private company limited by shares and incorporated in England. Its registered office is:
First floor, 12 St John's Way,
St John's Business Estate
Downham Market
Norfolk
PE38 0QQ
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