Registered number
06710925
Independent Higher Education
Filleted Accounts
31 December 2023
Independent Higher Education
Registered number: 06710925
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 442,275 339,863
Cash at bank and in hand 106,260 168,284
548,535 508,147
Creditors: amounts falling due within one year 4 (444,499) (398,939)
Net current assets 104,036 109,208
Net assets 104,036 109,208
Capital and reserves
Profit and loss account 104,036 109,208
Members' funds 104,036 109,208
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
James Pitman
Director
Approved by the board on 21 March 2024
Independent Higher Education
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from membership fees and from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Current tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 6
3 Debtors 2023 2022
£ £
Trade debtors 441,079 339,863
Other debtors 1,196 -
442,275 339,863
4 Creditors: amounts falling due within one year 2023 2022
£ £
Credit card accruals 2,422 3,285
Deferred income 410,120 342,170
Accruals 2,050 3,218
Trade creditors 18,011 32,704
Taxation and social security costs 7,810 14,361
Pensions 4,086 3,201
444,499 398,939
5 Other information
Independent Higher Education is a private company limited by shares and incorporated in England. Its registered office is:
7 Bedford Square
London
WC1B 3RA
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