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Registration number: 14190001

Tilt Education Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 June 2024

 

Tilt Education Ltd

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 5

 

Tilt Education Ltd

(Registration number: 14190001)
Abridged Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Current assets

 

Cash at bank and in hand

 

47,323

5,136

Creditors: Amounts falling due within one year

(24,267)

(13,771)

Total assets less current liabilities

 

23,056

(8,635)

Accruals and deferred income

 

(780)

(300)

Net assets/(liabilities)

 

22,276

(8,935)

Capital and reserves

 

Called up share capital

4

2

2

Retained earnings

22,274

(8,937)

Shareholders' funds/(deficit)

 

22,276

(8,935)

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 September 2024 and signed on its behalf by:
 

.........................................
Mr Ryan Aaron Goodwin
Director

 

Tilt Education Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Tilt Education Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 5).

3

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

4

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

5

Related party transactions

 

Tilt Education Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

Other payments made to company by director
£

At 30 June 2024
£

Mr Ryan Aaron Goodwin

Directors loan

(9,861)

10,096

(3,378)

(3,143)

Miss Debbie Ann Goode

Directors loan

(2,603)

3,813

(1,509)

(299)

2023

At 1 July 2022
£

Other payments made to company by director
£

At 30 June 2023
£

Mr Ryan Aaron Goodwin

Directors loan

-

(9,861)

(9,861)

Miss Debbie Ann Goode

Directors loan

-

(2,603)

(2,603)

 

Tilt Education Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

20,950

-