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Registration number: 07134810

University Academy Keighley

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

University Academy Keighley

Contents

Statement of Income and Retained Earnings

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

University Academy Keighley

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 30 April 2023

Note

2023
£

2022
£

Turnover

 

-

4,798,505

Cost of sales

 

-

(4,392,231)

Operating surplus

 

-

406,274

Transfer of funds out of entity

 

(3,134,738)

-

Actuarial gains on defined benefit pension schemes

 

-

2,070,000

 

(3,134,738)

2,070,000

(Deficit)/surplus before tax

(3,134,738)

2,476,274

(Deficit)/surplus for the financial year

 

(3,134,738)

2,476,274

Retained earnings brought forward

 

3,134,738

658,464

Retained earnings carried forward

 

-

3,134,738

 

University Academy Keighley

(Registration number: 07134810)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

297,114

Current assets

 

Stocks

5

-

2,605

Debtors

6

-

464,085

Cash at bank and in hand

 

-

4,122,322

 

-

4,589,012

Creditors: Amounts falling due within one year

7

-

(565,388)

Net current assets

 

-

4,023,624

Total assets less current liabilities

 

-

4,320,738

Provisions for liabilities

-

(1,186,000)

Net assets

 

-

3,134,738

Reserves

 

Retained earnings

-

3,134,738

Surplus

 

-

3,134,738

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 July 2024 and signed on its behalf by:
 

.........................................
P Hunter
Director

 

University Academy Keighley

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The Company is a company limited by guarantee, incorporated in United Kingdom, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the Company in the event of liquidation.

The address of its registered office is:
The Offices of the Vice Chancellor
The University of Bradford
Richmond Road
Bradford
West Yorkshire
BD7 1DP

These financial statements were authorised for issue by the Board on 30 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

University Academy Keighley

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 8 (2022 - 96).

 

University Academy Keighley

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2022

15,691

1,121,812

57,780

1,195,283

Transfers

(15,691)

(1,121,812)

(57,780)

(1,195,283)

At 30 April 2023

-

-

-

-

Depreciation

At 1 May 2022

15,961

875,255

7,223

898,439

Transfers

(15,961)

(875,255)

(7,223)

(898,439)

At 30 April 2023

-

-

-

-

Carrying amount

At 30 April 2023

-

-

-

-

At 30 April 2022

-

246,557

50,557

297,114

5

Stocks

2023
£

2022
£

Other inventories

-

2,605

6

Debtors

Current

2023
£

2022
£

Trade debtors

-

13,197

Prepayments

-

218,709

Other debtors

-

232,179

 

-

464,085

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

229,953

Taxation and social security

-

61,730

Accruals and deferred income

-

271,305

Other creditors

-

2,400

-

565,388