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Company registration number: 08035712
Whitehead-Ross Education and Consulting Limited
Unaudited filleted financial statements
30 April 2024
Whitehead-Ross Education and Consulting Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Whitehead-Ross Education and Consulting Limited
Directors and other information
Directors Mr Ian Ross
Company number 08035712
Registered office 137 New Road
Skewen
Neath
SA10 6HL
Accountants Morgan Hemp
103-104 Walter Road
Swansea
SA1 5QF
Bankers Barclays Bank PLC
Leicester
LE87 2BB
Solicitors Howells Solicitors
4 Langdon Road
SA1 Waterfront
Swansea
SA1 8QY
Whitehead-Ross Education and Consulting Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Whitehead-Ross Education and Consulting Limited
Year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Whitehead-Ross Education and Consulting Limited for the year ended 30 April 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Whitehead-Ross Education and Consulting Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Whitehead-Ross Education and Consulting Limited and state those matters that we have agreed to state to the board of directors of Whitehead-Ross Education and Consulting Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Whitehead-Ross Education and Consulting Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Whitehead-Ross Education and Consulting Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Whitehead-Ross Education and Consulting Limited. You consider that Whitehead-Ross Education and Consulting Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Whitehead-Ross Education and Consulting 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.
Morgan Hemp
Chartered Certified Accountant
103-104 Walter Road
Swansea
SA1 5QF
7 August 2024
Whitehead-Ross Education and Consulting Limited
Statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 1,003,693 591,528
_______ _______
1,003,693 591,528
Current assets
Debtors 6 783,865 292,443
Cash at bank and in hand 216,381 815,236
_______ _______
1,000,246 1,107,679
Creditors: amounts falling due
within one year 7 ( 673,438) ( 686,727)
_______ _______
Net current assets 326,808 420,952
_______ _______
Total assets less current liabilities 1,330,501 1,012,480
Creditors: amounts falling due
after more than one year 8 ( 341,375) ( 410,928)
Provisions for liabilities ( 59,235) ( 30,814)
_______ _______
Net assets 929,891 570,738
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 929,889 570,736
_______ _______
Shareholder funds 929,891 570,738
_______ _______
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 07 August 2024 , and are signed on behalf of the board by:
Mr Ian Ross
Director
Company registration number: 08035712
Whitehead-Ross Education and Consulting Limited
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 137 New Road, Skewen, Neath, SA10 6HL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
Freehold property - 2 % straight line
Long leasehold property - 10 % straight line
Short leasehold property - 20 % straight line
Fittings fixtures and equipment - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Government grants
Government grants are recognised using the accrual model. Under the accrual model, govenment grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compansation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is a recognised as deferred income and not deducted from the carrying amount of the asset.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 95 (2023: 79 ).
5. Tangible assets
Freehold property Long leasehold property Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 1 May 2023 412,212 339,636 112,069 863,917
Additions 236,331 140,566 102,634 479,531
_______ _______ _______ _______
At 30 April 2024 648,543 480,202 214,703 1,343,448
_______ _______ _______ _______
Depreciation
At 1 May 2023 - 199,933 72,459 272,392
Charge for the year - 34,677 32,686 67,363
_______ _______ _______ _______
At 30 April 2024 - 234,610 105,145 339,755
_______ _______ _______ _______
Carrying amount
At 30 April 2024 648,543 245,592 109,558 1,003,693
_______ _______ _______ _______
At 30 April 2023 412,212 139,703 39,610 591,525
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 47,170 156,297
Other debtors 736,695 136,146
_______ _______
783,865 292,443
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 295,014 64,517
Trade creditors 32,673 4,643
Social security and other taxes 264,723 518,599
Other creditors 81,028 98,968
_______ _______
673,438 686,727
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 341,375 -
Other creditors - 410,928
_______ _______
341,375 410,928
_______ _______
9. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Later than 1 year and not later than 5 years 373,134 464,167
_______ _______
10. Related party transactions
Included in creditors is an amount owed to the director of £0 (2023: £131).