Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-31true12022-08-01falseeducational support services1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10186806 2022-08-01 2023-07-31 10186806 2021-08-01 2022-07-31 10186806 2023-07-31 10186806 2022-07-31 10186806 c:Director1 2022-08-01 2023-07-31 10186806 d:FurnitureFittings 2022-08-01 2023-07-31 10186806 d:FurnitureFittings 2023-07-31 10186806 d:FurnitureFittings 2022-07-31 10186806 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 10186806 d:OfficeEquipment 2022-08-01 2023-07-31 10186806 d:OfficeEquipment 2023-07-31 10186806 d:OfficeEquipment 2022-07-31 10186806 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 10186806 d:ComputerEquipment 2022-08-01 2023-07-31 10186806 d:ComputerEquipment 2023-07-31 10186806 d:ComputerEquipment 2022-07-31 10186806 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 10186806 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 10186806 d:CurrentFinancialInstruments 2023-07-31 10186806 d:CurrentFinancialInstruments 2022-07-31 10186806 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 10186806 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 10186806 d:UKTax 2022-08-01 2023-07-31 10186806 d:UKTax 2021-08-01 2022-07-31 10186806 d:ShareCapital 2023-07-31 10186806 d:ShareCapital 2022-07-31 10186806 d:RetainedEarningsAccumulatedLosses 2023-07-31 10186806 d:RetainedEarningsAccumulatedLosses 2022-07-31 10186806 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-07-31 10186806 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-07-31 10186806 c:FRS102 2022-08-01 2023-07-31 10186806 c:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 10186806 c:FullAccounts 2022-08-01 2023-07-31 10186806 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 10186806 e:PoundSterling 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 10186806










ASPIRE EDUCATIONAL SERVICES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
ASPIRE EDUCATIONAL SERVICES LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OFASPIRE EDUCATIONAL SERVICES LIMITED
FOR THE YEAR ENDED 31 JULY 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Aspire Educational Services Limited for the year ended 31 July 2023 which comprise the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

This report is made solely to the director of Aspire Educational Services Limited in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of Aspire Educational Services Limited and state those matters that we have agreed to state to her in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aspire Educational Services Limited and its  director for our work or for this report.
 
 
It is your duty to ensure that Aspire Educational Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and loss. You consider that Aspire Educational Services Limited is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Aspire Educational Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.





Shipleys Tax Planning

30 July 2024
Page 1

 
ASPIRE EDUCATIONAL SERVICES LIMITED
REGISTERED NUMBER: 10186806

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
-
167

  
-
167

Current assets
  

Cash at bank and in hand
 6 
24,604
30,102

  
24,604
30,102

Creditors: amounts falling due within one year
 7 
(23,375)
(22,717)

Net current assets
  
 
 
1,229
 
 
7,385

Total assets less current liabilities
  
1,229
7,552

  

Net assets
  
1,229
7,552


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
1,228
7,551

  
1,229
7,552


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 July 2024.




Imrana Khalil-Nabi
Director

The notes on pages 4 to 9 form part of these financial statements.
Page 2

 
ASPIRE EDUCATIONAL SERVICES LIMITED
REGISTERED NUMBER: 10186806

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023


Page 3

 
ASPIRE EDUCATIONAL SERVICES LIMITED
 

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

1.


General information

Aspire Educational Services Limited is a company domiciled in England & Wales, registration number 10186806. The registered office is Emery House, 195 Fog Lane, Manchester, M20 6FJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
ASPIRE EDUCATIONAL SERVICES LIMITED
 

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

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Office equipment
-
25%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
ASPIRE EDUCATIONAL SERVICES LIMITED
 

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

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 6

 
ASPIRE EDUCATIONAL SERVICES LIMITED
 

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

3.


Employees

2023
2022
£
£

Wages and salaries
11,416
9,893

Social security costs
422
100

11,838
9,993


The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
-
637


-
637


Total current tax
-
637

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2022 - higher than) the standard rate of corporation tax in the UK of 19% (2022 - 19%). The differences are explained below:

2023
2022
£
£


(Loss)/profit on ordinary activities before tax
(6,323)
2,916


(Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2022 - 19%)
(1,201)
554

Effects of:


Depreciation for year in excess of capital allowances
43
83

Unrelieved tax losses carried forward
1,158
-

Total tax charge for the year
-
637


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 7

 
ASPIRE EDUCATIONAL SERVICES LIMITED
 

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

5.


Tangible fixed assets





Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 August 2022
1,075
1,180
3,999
6,254



At 31 July 2023

1,075
1,180
3,999
6,254



Depreciation


At 1 August 2022
1,075
1,180
3,832
6,087


Charge for the year on owned assets
-
-
167
167



At 31 July 2023

1,075
1,180
3,999
6,254



Net book value



At 31 July 2023
-
-
-
-



At 31 July 2022
-
-
167
167


6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
24,604
30,102

24,604
30,102



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
-
636

Other creditors
21,095
22,081

Accruals and deferred income
2,280
-

23,375
22,717


Page 8

 
ASPIRE EDUCATIONAL SERVICES LIMITED
 

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

8.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
24,604
30,102




Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.


9.


Related party transactions

During the year the company repaid the director £985 (2022: (£950)). At the balance sheet date other creditors included £21,095 (2022: £22,080) as amounts owed to the director.


10.


Controlling party

The company is controlled by the director Imrana Khalil-Nabi.


Page 9