Company registration number 12172624 (England and Wales)
ZOE TRIGWELL ACADEMY LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
ZOE TRIGWELL ACADEMY LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
ZOE TRIGWELL ACADEMY LTD
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 1 -
2024
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
7,099
8,500
Tangible assets
4
153,598
5,452
160,697
13,952
Current assets
Stocks
444,341
48,219
Debtors
5
333,950
17,636
Cash at bank and in hand
78,036
35,494
856,327
101,349
Creditors: amounts falling due within one year
6
(278,820)
(104,328)
Net current assets/(liabilities)
577,507
(2,979)
Total assets less current liabilities
738,204
10,973
Creditors: amounts falling due after more than one year
7
(2,238)
(4,533)
Provisions for liabilities
(38,499)
(1,363)
Net assets
697,467
5,077
Capital and reserves
Called up share capital
8
120
120
Profit and loss reserves
697,347
4,957
Total equity
697,467
5,077

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 22 August 2024 and are signed on its behalf by:
Miss Z Trigwell
Director
Company Registration No. 12172624
ZOE TRIGWELL ACADEMY LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 29 FEBRUARY 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 September 2021
100
1,089
1,189
Year ended 31 August 2022:
Profit and total comprehensive income
-
11,438
11,438
Issue of share capital
8
20
-
20
Dividends
-
(7,570)
(7,570)
Balance at 31 August 2022
120
4,957
5,077
Period ended 29 February 2024:
Profit and total comprehensive income
-
786,744
786,744
Dividends
-
(94,354)
(94,354)
Balance at 29 February 2024
120
697,347
697,467
ZOE TRIGWELL ACADEMY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information

Zoe Trigwell Academy Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 72-73 Springvale Inudstrial Estate, Cwmbran, Gwent, NP44 5BE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.

1.2
Reporting period

The reporting period covered by these financial statements is 18 months. The reporting period changed for commercial reasons.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for make up services and make up artist training provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Other intangible assets
not amortised
1.6
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

ZOE TRIGWELL ACADEMY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% on cost
Computers
20% on cost
Motor vehicles
25% reducing balance
1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

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.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

ZOE TRIGWELL ACADEMY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 5 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2022
Number
Number
Total
8
2
3
Intangible fixed assets
Goodwill
Other intangible assets
Total
£
£
£
Cost
At 1 September 2022
12,000
-
0
12,000
Additions
-
0
399
399
At 29 February 2024
12,000
399
12,399
Amortisation and impairment
At 1 September 2022
3,500
-
0
3,500
Amortisation charged for the period
1,800
-
0
1,800
At 29 February 2024
5,300
-
0
5,300
Carrying amount
At 29 February 2024
6,700
399
7,099
At 31 August 2022
8,500
-
0
8,500
ZOE TRIGWELL ACADEMY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 FEBRUARY 2024
- 6 -
4
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 September 2022
5,742
1,100
-
0
6,842
Additions
14,729
11,054
138,880
164,663
At 29 February 2024
20,471
12,154
138,880
171,505
Depreciation and impairment
At 1 September 2022
1,390
-
0
-
0
1,390
Depreciation charged in the period
3,199
1,906
11,412
16,517
At 29 February 2024
4,589
1,906
11,412
17,907
Carrying amount
At 29 February 2024
15,882
10,248
127,468
153,598
At 31 August 2022
4,352
1,100
-
0
5,452
5
Debtors
2024
2022
Amounts falling due within one year:
£
£
Trade debtors
116,380
15,010
Other debtors
217,570
2,626
333,950
17,636
6
Creditors: amounts falling due within one year
2024
2022
£
£
Bank loans
1,600
2,747
Trade creditors
23,762
63,892
Corporation tax
194,685
2,744
Other taxation and social security
52,730
18,293
Other creditors
6,043
16,652
278,820
104,328
7
Creditors: amounts falling due after more than one year
2024
2022
£
£
Bank loans and overdrafts
2,238
4,533
ZOE TRIGWELL ACADEMY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 FEBRUARY 2024
- 7 -
8
Called up share capital
2024
2022
2024
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
114
114
114
114
Ordinary B of £1 each
3
3
3
3
Ordinary C of £1 each
3
3
3
3
120
120
120
120
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2022
£
£
86,296
11,304
10
Directors' transactions

Dividends totalling £73,854 (2022 - £7,570) were paid in the period in respect of shares held by the company's directors.

The directors operate a current loan amount with the company, which is debited with payments made by the company on behalf of the directors and credited with funds introduced and undrawn director's fees. At the year end, the amount outstanding to the directors was £1,466 (2022 - £15,851); this amount being included in creditors: amounts falling due within one year.

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Directors
2.25
(15,851)
128,158
356
(93,822)
18,841
(15,851)
128,158
356
(93,822)
18,841
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