The University Vocational Awards Council 03758134 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is higher education, apprenticeships and qualifications. Digita Accounts Production Advanced 6.30.9574.0 true true true 03758134 2023-08-01 2024-07-31 03758134 2024-07-31 03758134 core:CurrentFinancialInstruments 2024-07-31 03758134 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 03758134 core:FurnitureFittings 2024-07-31 03758134 bus:SmallEntities 2023-08-01 2024-07-31 03758134 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 03758134 bus:FilletedAccounts 2023-08-01 2024-07-31 03758134 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 03758134 bus:RegisteredOffice 2023-08-01 2024-07-31 03758134 bus:CompanySecretary1 2023-08-01 2024-07-31 03758134 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 03758134 core:FurnitureFittings 2023-08-01 2024-07-31 03758134 1 2023-08-01 2024-07-31 03758134 countries:EnglandWales 2023-08-01 2024-07-31 03758134 2023-07-31 03758134 core:FurnitureFittings 2023-07-31 03758134 2022-08-01 2023-07-31 03758134 2023-07-31 03758134 core:CurrentFinancialInstruments 2023-07-31 03758134 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 03758134 core:FurnitureFittings 2023-07-31 iso4217:GBP xbrli:pure

Registration number: 03758134

The University Vocational Awards Council
Annual Report and
Unaudited Financial Statements

31 July 2024

 

The University Vocational Awards Council

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

The University Vocational Awards Council

Balance Sheet
31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,003

694

Current assets

 

Debtors

5

198,661

254,775

Cash at bank and in hand

 

442,550

223,735

 

641,211

478,510

Creditors: Amounts falling due within one year

6

(393,835)

(294,542)

Net current assets

 

247,376

183,968

Net assets

 

249,379

184,662

Capital and reserves

 

Retained earnings

249,379

184,662

Shareholders' funds

 

249,379

184,662

 

The University Vocational Awards Council

Balance Sheet
31 July 2024

For the financial year ending 31 July 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.

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 14 October 2024 and signed on its behalf by:
 

.........................................
M S Crawford-Lee
Company secretary

Company Registration Number: 03758134

 

The University Vocational Awards Council

Notes to the Unaudited Financial Statements
Year Ended 31 July 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Z3-32 Eagle House
Eagle Campus
Bolton
Greater Manchester
BL3 5AB

2

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 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 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

 

The University Vocational Awards Council

Notes to the Unaudited Financial Statements
Year Ended 31 July 2024

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

33.33% Straight line

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

The University Vocational Awards Council

Notes to the Unaudited Financial Statements
Year Ended 31 July 2024

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.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 10 (2023 - 10).

 

The University Vocational Awards Council

Notes to the Unaudited Financial Statements
Year Ended 31 July 2024

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 August 2023

22,741

22,741

Additions

2,298

2,298

Disposals

(21,540)

(21,540)

At 31 July 2024

3,499

3,499

Depreciation

At 1 August 2023

22,047

22,047

Charge for the year

957

957

Eliminated on disposal

(21,508)

(21,508)

At 31 July 2024

1,496

1,496

Carrying amount

At 31 July 2024

2,003

2,003

At 31 July 2023

694

694

5

Debtors

Current

2024
£

2023
£

Trade debtors

149,722

232,773

Prepayments

48,939

22,002

 

198,661

254,775

 

The University Vocational Awards Council

Notes to the Unaudited Financial Statements
Year Ended 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

142,769

32,101

Taxation and social security

26,203

8,101

Accruals and deferred income

224,863

254,340

393,835

294,542

7

Control

The ultimate controlling party is the members of the company. The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the company in the event of liquidation.