Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 12143141 S M Knight K J Knight L D Knight M K Knight Knight Family Investments Limited, and its directors, true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12143141 2022-12-31 12143141 2023-12-31 12143141 2023-01-01 2023-12-31 12143141 frs-core:CurrentFinancialInstruments 2023-12-31 12143141 frs-core:Non-currentFinancialInstruments 2023-12-31 12143141 frs-core:ComputerEquipment 2023-12-31 12143141 frs-core:ComputerEquipment 2023-01-01 2023-12-31 12143141 frs-core:ComputerEquipment 2022-12-31 12143141 frs-core:ShareCapital 2023-12-31 12143141 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 12143141 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12143141 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 12143141 frs-bus:SmallEntities 2023-01-01 2023-12-31 12143141 frs-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12143141 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12143141 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31 12143141 frs-bus:OrdinaryShareClass1 2023-12-31 12143141 1 2023-01-01 2023-12-31 12143141 frs-bus:Director1 2023-01-01 2023-12-31 12143141 frs-bus:Director2 2023-01-01 2023-12-31 12143141 frs-bus:Director3 2023-01-01 2023-12-31 12143141 frs-bus:Director4 2023-01-01 2023-12-31 12143141 frs-countries:EnglandWales 2023-01-01 2023-12-31 12143141 2021-12-31 12143141 2022-12-31 12143141 2022-01-01 2022-12-31 12143141 frs-core:CurrentFinancialInstruments 2022-12-31 12143141 frs-core:Non-currentFinancialInstruments 2022-12-31 12143141 frs-core:ShareCapital 2022-12-31 12143141 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 12143141 frs-bus:OrdinaryShareClass1 2022-01-01 2022-12-31 12143141 frs-core:Non-currentFinancialInstruments 1 2022-12-31
Registered number: 12143141
Toolroom Academy Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountants' Report
In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 December 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. 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 financial statements.
Signed
03/09/2024
Exceed Accountants Limited
Ground Floor Marlborough House
298 Regents Park Road
London
N3 2SZ
Page 1
Page 2
Balance Sheet
Registered number: 12143141
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 143 572
143 572
CURRENT ASSETS
Debtors 5 1,937,006 1,188,176
Cash at bank and in hand 1,904 30,987
1,938,910 1,219,163
Creditors: Amounts Falling Due Within One Year 6 (1,639,320 ) (787,625 )
NET CURRENT ASSETS (LIABILITIES) 299,590 431,538
TOTAL ASSETS LESS CURRENT LIABILITIES 299,733 432,110
Creditors: Amounts Falling Due After More Than One Year 7 - (200,000 )
NET ASSETS 299,733 232,110
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 299,732 232,109
SHAREHOLDERS' FUNDS 299,733 232,110
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Page 3
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
S M Knight
Director
03/09/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Toolroom Academy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12143141 . The registered office is Ground Floor Marlborough House, 298 Regents Park Road, London, N3 2SZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 the sale of goods and from the rendering of services.  Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 33.33% on cost
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2023 1,287
As at 31 December 2023 1,287
Depreciation
As at 1 January 2023 715
Provided during the period 429
As at 31 December 2023 1,144
Net Book Value
As at 31 December 2023 143
As at 1 January 2023 572
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 236,599 94,097
Prepayments and accrued income 30,156 43,796
Other debtors 1,643,560 1,017,341
VAT 26,690 32,941
Amounts owed by group undertakings 1 1
1,937,006 1,188,176
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,265,387 657,805
Corporation tax 54,233 49,437
Other creditors 200,000 -
Accruals and deferred income 119,700 80,383
1,639,320 787,625
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7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Dividend paid - 200,000
- 200,000
8. Share Capital
2023 2022
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 1.00 each 1 1
9. Related Party Transactions
Included under current assets is a balance owed to the company by related parties:
Toolroom Productions Limited: £1,643,560 (2022: £1,017,341)
Included under current liabilities are balances owed by the company to related parties:
Knight Family Investments Limited: £1,239,559 (2022: £462,159)
Toolroom Productions Limited: £189,000 (2022: £189,000)
These loans are not secured, carry no interest and have no fixed terms of repayment. The directors have indicated that these amount will not be called up for payment in the next 12 months.
10. Ultimate Controlling Party
The company's ultimate controlling party is Knight Family Investments Limited, and its directors, by virtue of its ownership of 100% of the issued share capital in the company.
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