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Registration number: 10455454

Buzzard Education Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Buzzard Education Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account and Statement of Retained Earnings

4

Balance Sheet

5

Notes to the Unaudited Financial Statements

6 to 12

 

Buzzard Education Limited

Company Information

Directors

Mrs Elizabeth Anne Hopkins

Mr Melvin Henry Hopkins

Registered office

2 Querns Cottages
Minety
Malmesbury
Wiltshire
SN16 9PL

Accountants

Somerdown Accountancy Services Limited
Chartered Accountants
Somerdown House
Little Somerford
Chippenham
Wiltshire
SN15 5JW

 

Buzzard Education Limited

Directors' Report for the Year Ended 31 March 2024

The directors present their report and the financial statements for the year ended 31 March 2024.

Directors of the company

The directors who held office during the year were as follows:

Mrs Elizabeth Anne Hopkins

Mr Melvin Henry Hopkins

Principal activity

The principal activity of the company is book publishing and educational support services

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 2 August 2024 and signed on its behalf by:
 

.........................................
Mrs Elizabeth Anne Hopkins
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Buzzard Education Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Buzzard Education Limited for the year ended 31 March 2024 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Buzzard Education 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 accounts of Buzzard Education Limited and state those matters that we have agreed to state to the Board of Directors of Buzzard Education Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Buzzard Education Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Buzzard Education Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Buzzard Education Limited. You consider that Buzzard Education 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 accounts of Buzzard Education 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 accounts.

......................................

Somerdown Accountancy Services Limited
Chartered Accountants
Somerdown House
Little Somerford
Chippenham
Wiltshire
SN15 5JW

2 August 2024

 

Buzzard Education Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 March 2024

Note

2024
£

2023
£

Turnover

 

100,285

84,554

Cost of sales

 

(4,508)

(3,021)

Gross profit

 

95,777

81,533

Administrative expenses

 

(81,758)

(53,475)

Operating profit

 

14,019

28,058

Profit before tax

4

14,019

28,058

Taxation

 

(2,696)

(5,315)

Profit for the financial year

 

11,323

22,743

Retained earnings brought forward

 

3,264

10,221

Dividends paid

 

(10,000)

(29,700)

Retained earnings carried forward

 

4,587

3,264

 

Buzzard Education Limited

(Registration number: 10455454)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

2,373

3,164

Tangible assets

6

520

691

 

2,893

3,855

Current assets

 

Stocks

7

2,506

3,328

Debtors

8

1,732

1,738

Cash at bank and in hand

 

1,435

791

 

5,673

5,857

Creditors: Amounts falling due within one year

9

(3,976)

(6,445)

Net current assets/(liabilities)

 

1,697

(588)

Net assets

 

4,590

3,267

Capital and reserves

 

Called up share capital

10

3

3

Retained earnings

4,587

3,264

Shareholders' funds

 

4,590

3,267

For the financial year ending 31 March 2024 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.

Approved and authorised by the Board on 2 August 2024 and signed on its behalf by:
 

.........................................
Mrs Elizabeth Anne Hopkins
Director

 

Buzzard Education Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Querns Cottages
Minety
Malmesbury
Wiltshire
SN16 9PL
England

These financial statements were authorised for issue by the Board on 2 August 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Buzzard Education Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website cost

25% Reducing balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Buzzard Education Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

962

1,284

 

Buzzard Education Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 April 2023

7,500

7,500

At 31 March 2024

7,500

7,500

Amortisation

At 1 April 2023

4,336

4,336

Amortisation charge

791

791

At 31 March 2024

5,127

5,127

Carrying amount

At 31 March 2024

2,373

2,373

At 31 March 2023

3,164

3,164

6

tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

1,717

1,717

At 31 March 2024

1,717

1,717

Depreciation

At 1 April 2023

1,026

1,026

Charge for the year

171

171

At 31 March 2024

1,197

1,197

Carrying amount

At 31 March 2024

520

520

At 31 March 2023

691

691

7

Stocks

2024
£

2023
£

Other inventories

2,506

3,328

 

Buzzard Education Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Debtors

Current

2024
£

2023
£

Trade debtors

1,472

1,738

Other debtors

260

-

 

1,732

1,738

 

Buzzard Education Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,280

850

Taxation and social security

2,696

5,595

3,976

6,445

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

A Ordinary shares of £1 each

1

1

1

1

B Ordinary shares of £1 each

1

1

1

1

C Ordinary shares of £1 each

1

1

1

1

 

3

3

3

3

11

Dividends

Interim dividends paid

   

2024
£

 

2023
£

Interim dividend of £2,000.00 (2023 - £Nil) per each A Ordinary shares

 

2,000

 

13,000

Interim dividend of £2,000.00 (2023 - £Nil) per each B Ordinary shares

 

2,000

 

10,700

Interim dividend of £6,000.00 (2023 - £Nil) per each C Ordinary shares

 

6,000

 

6,000

   

10,000

 

29,700

12

Related party transactions

 

Buzzard Education Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

5,723

6,646