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COMPANY REGISTRATION NUMBER: 04333587
Education Advisers Limited
Unaudited Financial Statements
31 December 2023
Education Advisers Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Directors' report
1
Statement of comprehensive income
2
Statement of financial position
3
Statement of changes in equity
4
Notes to the financial statements
5
Education Advisers Limited
Directors' Report
Year ended 31 December 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2023 .
Directors
The directors who served the company during the year were as follows:
Mr L E Webb
Mr M F Fanya
Ms M Banks - Murayama
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 9 September 2024 and signed on behalf of the board by:
Mr L E Webb
Joan Webb
Director
Company Secretary
Registered office:
Long Acre
66B Old Hadlow Road
Tonbridge
Kent
TN10 4EX
Education Advisers Limited
Statement of Comprehensive Income
Year ended 31 December 2023
2023
2022
Note
£
£
Turnover
480,801
545,810
Cost of sales
20,219
27,489
---------
---------
Gross profit
460,582
518,321
Administrative expenses
401,431
376,409
---------
---------
Operating profit
59,151
141,912
---------
---------
Profit before taxation
5
59,151
141,912
Tax on profit
12,919
26,784
--------
---------
Profit for the financial year and total comprehensive income
46,232
115,128
--------
---------
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the year as set out above.
These accounts have been prepared for management information only and do not fully comply with disclosure requirements of FRS102.
Education Advisers Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
6
3,619
4,614
Current assets
Debtors
7
46,073
35,970
Cash at bank and in hand
85,322
73,771
---------
---------
131,395
109,741
Creditors: amounts falling due within one year
8
41,457
52,030
---------
---------
Net current assets
89,938
57,711
--------
--------
Total assets less current liabilities
93,557
62,325
--------
--------
Net assets
93,557
62,325
--------
--------
Capital and reserves
Called up share capital
97
100
Capital redemption reserve
3
Profit and loss account
93,457
62,225
--------
--------
Shareholders funds
93,557
62,325
--------
--------
These financial statements have been prepared 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'.
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.
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 were approved by the board of directors and authorised for issue on 9 September 2024 , and are signed on behalf of the board by:
Mr L E Webb
Director
Company registration number: 04333587
Education Advisers Limited
Statement of Changes in Equity
Year ended 31 December 2023
Called up share capital
Capital redemption reserve
Profit and loss account
Total
£
£
£
£
At 1 January 2022
100
92,097
92,197
Profit for the year
115,128
115,128
----
----
---------
---------
Total comprehensive income for the year
115,128
115,128
Dividends paid and payable
( 145,000)
( 145,000)
----
----
---------
---------
Total investments by and distributions to owners
( 145,000)
( 145,000)
At 31 December 2022
100
62,225
62,325
Profit for the year
46,232
46,232
----
----
---------
---------
Total comprehensive income for the year
46,232
46,232
Cancellation of subscribed capital
( 3)
3
Redemption of shares
( 15,000)
( 15,000)
----
----
--------
--------
Total investments by and distributions to owners
( 3)
3
( 15,000)
( 15,000)
----
----
--------
--------
At 31 December 2023
97
3
93,457
93,557
----
----
--------
--------
Education Advisers Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Long Acre, 66B Old Hadlow Road, Tonbridge, Kent, TN10 4EX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Equipment
-
25% reducing balance
Impairment of fixed assets
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
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2022: 5 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2023
2022
£
£
Depreciation of tangible assets
1,652
1,538
-------
-------
6. Tangible assets
Equipment
£
Cost
At 1 January 2023
22,542
Additions
657
--------
At 31 December 2023
23,199
--------
Depreciation
At 1 January 2023
17,928
Charge for the year
1,652
--------
At 31 December 2023
19,580
--------
Carrying amount
At 31 December 2023
3,619
--------
At 31 December 2022
4,614
--------
7. Debtors
2023
2022
£
£
Trade debtors
44,730
29,464
Other debtors
1,343
6,506
--------
--------
46,073
35,970
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
15,206
17,222
Corporation tax
12,919
26,784
Social security and other taxes
12,072
4,524
Other creditors
1,260
3,500
--------
--------
41,457
52,030
--------
--------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr L E Webb
6,294
( 4,951)
1,343
Mr M F Fanya
212
( 212)
-------
-------
-------
6,506
( 5,163)
1,343
-------
-------
-------
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr L E Webb
769
5,525
6,294
Mr M F Fanya
212
212
----
-------
-------
981
5,525
6,506
----
-------
-------
Interest does not currently accrue on outstanding balances whether owing to or from the company. All amounts are considered repayable on demand.
10. Related party transactions
The company was under the control of Mr L Webb during the current and previous year. Other than the directors current accounts there were no transactions with related parties undertaken such as are required to be disclosed under the FRS 102.