Registered number
02844232
Centre Academy London Limited
Unaudited Filleted Accounts
31 December 2023
Centre Academy London Limited
Registered number: 02844232
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 5,000,000 -
Tangible assets 4 17,500 17,932
5,017,500 17,932
Current assets
Debtors 5 336,561 2,260,025
Cash at bank and in hand 710,329 215,561
1,046,890 2,475,586
Creditors: amounts falling due within one year 6 (3,875,942) (533,491)
Net current (liabilities)/assets (2,829,052) 1,942,095
Total assets less current liabilities 2,188,448 1,960,027
Creditors: amounts falling due after more than one year 7 (98,636) (186,742)
Net assets 2,089,812 1,773,285
Capital and reserves
Called up share capital 2 2
Profit and loss account 2,089,810 1,773,283
Shareholders' funds 2,089,812 1,773,285
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.
Mrs. M. C. Murphy
Director
Approved by the board on 24 September 2024
Centre Academy London Limited
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 the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% written down value
Plant and machinery 20% - 33.33% straight line
Fixtures, fittings, tools and equipment 25% written down value
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 35 19
3 Intangible fixed assets £
Goodwill:
Cost
Additions 5,000,000
At 31 December 2023 5,000,000
Amortisation
At 31 December 2023 -
Net book value
At 31 December 2023 5,000,000
Goodwill is not being amortised, as in the directors opinion the value is not materially reduced over time.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 252,775 - 252,775
Additions 3,290 10,180 13,470
Disposals (209,989) - (209,989)
At 31 December 2023 46,076 10,180 56,256
Depreciation
At 1 January 2023 234,843 - 234,843
Charge for the year 11,352 2,550 13,902
On disposals (209,989) - (209,989)
At 31 December 2023 36,206 2,550 38,756
Net book value
At 31 December 2023 9,870 7,630 17,500
At 31 December 2022 17,932 - 17,932
5 Debtors 2023 2022
£ £
Trade debtors 336,561 2,260,025
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 87,273 77,273
Trade creditors 702,057 88,201
Taxation and social security costs 142,885 65,359
Other creditors 2,943,727 302,658
3,875,942 533,491
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 98,636 186,742
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 161,743 264,015
The company has given a debenture over all the assets of the company to secure all moneys and liabilities owing to the company's bankers on any account and in any manner whatsoever.
9 Pension commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in independently administered funds.
10 Other information
Centre Academy London Limited is a private company limited by shares and incorporated in England. Its registered office is:
Anglo Dal House
5 Spring Villa Park
Edgware
Middlesex
HA8 7EB
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