REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
ADVANCED SELLING SKILLS ACADEMY LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
ADVANCED SELLING SKILLS ACADEMY LIMITED |
ADVANCED SELLING SKILLS ACADEMY LIMITED (REGISTERED NUMBER: 04413191) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 August 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ADVANCED SELLING SKILLS ACADEMY LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 August 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Business Advisors & Accountants |
Equinox House |
Clifton Park, Shipton Road |
York |
YO30 5PA |
ADVANCED SELLING SKILLS ACADEMY LIMITED (REGISTERED NUMBER: 04413191) |
BALANCE SHEET |
31 August 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
ADVANCED SELLING SKILLS ACADEMY LIMITED (REGISTERED NUMBER: 04413191) |
BALANCE SHEET - continued |
31 August 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
ADVANCED SELLING SKILLS ACADEMY LIMITED (REGISTERED NUMBER: 04413191) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 August 2023 |
1. | STATUTORY INFORMATION |
Advanced Selling Skills Academy Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. |
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: |
Software | 10 years straight line |
Intellectual property rights | Fully amortised |
Tangible fixed assets |
Freehold property leased | 20% reducing balance |
Plant & machinery | 33% straight line |
Fixtures & fittings | 20% reducing balance |
Computer equipment | 25% straight line |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets 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. |
ADVANCED SELLING SKILLS ACADEMY LIMITED (REGISTERED NUMBER: 04413191) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 August 2023 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Basic financial liabilities |
Basic financial liabilities, including creditors and bank loans, are recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. |
Going concern |
The director considers that the company is a going concern. Support from the directors and the bank is available if necessary. The financial statements have been prepared on the going concern basis because the director is of the opinion that the company has sufficient reserves to trade together with cash flow support from its director and banker. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 September 2022 |
and 31 August 2023 |
AMORTISATION |
At 1 September 2022 |
Charge for year |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
ADVANCED SELLING SKILLS ACADEMY LIMITED (REGISTERED NUMBER: 04413191) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 August 2023 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 September 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 August 2023 |
DEPRECIATION |
At 1 September 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
6. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
Bank loans and overdrafts are secured by a fixed and floating charge over the assets of the company. There is one third party unsecured loan and one related party unsecured loan advanced on commercial terms. |
ADVANCED SELLING SKILLS ACADEMY LIMITED (REGISTERED NUMBER: 04413191) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 August 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Bank loans are secured by a fixed and floating charge over the assets of the company. There is one third party unsecured loan and one related party unsecured loan advanced on commercial terms. |
9. | CALLED UP SHARE CAPITAL |
Ordinary share capital | 2023 | 2022 | 2023 | 2022 |
Issued and fully paid | Number | Number | £ | £ |
Ordinary A shares of 1p each | 377,033 | 377,033 | 3,770 | 3,770 |
Ordinary B shares of 1p each | 10,856 | 10,856 | 109 | 109 |
Ordinary C shares of 1p each | 11,667 | 11,667 | 117 | 117 |
Ordinary D shares of 1p each | 56,294 | 56,294 | 563 | 563 |
455,850 | 455,850 | 4,559 | 4,559 |
In earlier years the following shares were issued:- |
· 274,000 Ordinary A shares of 1p each at a premium of £1,085. |
· 56,294 Ordinary D shares of 1p at par, being a new class of shares. |
The following classes of shares rank pari passu in respect of voting, dividend and valuation rights on a sale:- |
· Ordinary A shares |
· Ordinary B shares |
· Ordinary D shares |
The Ordinary B shares have no voting rights but rank pari passu in all other respects with the other classes of share. |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |