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Company registration number: 07783650
Academy for Healthcare Science Limited
Company limited by guarantee
Financial statements
31 March 2024
Academy for Healthcare Science Limited
Company limited by guarantee
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Academy for Healthcare Science Limited
Company limited by guarantee
Statement of financial position
31st March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 6 9,109 9,047
_______ _______
9,109 9,047
Current assets
Debtors 7 111,640 262,837
Cash at bank and in hand 1,228,024 1,544,802
_______ _______
1,339,664 1,807,639
Creditors: amounts falling due
within one year 8 ( 1,227,117) ( 1,708,508)
_______ _______
Net current assets 112,547 99,131
_______ _______
Total assets less current liabilities 121,656 108,178
_______ _______
Net assets 121,656 108,178
_______ _______
Capital and reserves
Profit and loss account 121,656 108,178
_______ _______
Members funds 121,656 108,178
_______ _______
For the 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 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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 August 2024 , and are signed on behalf of the board by:
Ms J.K. Monkman
Director
Company registration number: 07783650
Academy for Healthcare Science Limited
Company limited by guarantee
Statement of changes in equity
Year ended 31st March 2024
Profit and loss account Total
£ £
At 1st April 2022 8,179 8,179
Profit for the year 99,999 99,999
_______ _______
Total comprehensive income for the year 99,999 99,999
_______ _______
At 31st March 2023 and 1st April 2023 108,178 108,178
Profit for the year 13,478 13,478
_______ _______
Total comprehensive income for the year 13,478 13,478
_______ _______
At 31st March 2024 121,656 121,656
_______ _______
Academy for Healthcare Science Limited
Company limited by guarantee
Notes to the financial statements
Year ended 31st March 2024
1. General information
The company is a private company limited by guarantee, registered in England. The address of the registered office is 6 The Terrace, Rugby Road, Lutterworth, Leicestershire, LE17 4BW.
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.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received for grant income and services rendered.
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.
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:
Computer equipment - 25% per annum reducing balance
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.
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.
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. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which they are paid.
4. Limited by guarantee
The company has no share capital and is limited by guarantee of its director members. The guarantee is limited to a total of £9.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 20 (2023: 16).
6. Tangible assets
Computer equipment Total
£ £
Cost
At 1st April 2023 16,365 16,365
Additions 2,800 2,800
_______ _______
At 31st March 2024 19,165 19,165
_______ _______
Depreciation
At 1st April 2023 7,318 7,318
Charge for the year 2,738 2,738
_______ _______
At 31st March 2024 10,056 10,056
_______ _______
Carrying amount
At 31st March 2024 9,109 9,109
_______ _______
At 31st March 2023 9,047 9,047
_______ _______
7. Debtors
2024 2023
£ £
Trade debtors 101,700 196,636
Other debtors 9,940 66,201
_______ _______
111,640 262,837
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 39,555 70,717
Social security and other taxes 29,621 15,437
Other creditors 1,157,941 1,622,354
_______ _______
1,227,117 1,708,508
_______ _______