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Registered Number: 07923992
England and Wales

 

 

 

LONDON ACADEMY OF IT LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 3,882    6,675 
3,882    6,675 
Current assets      
Debtors: amounts falling due within one year 4 4,099    4,851 
Debtors: amounts falling due after one year 5 2,592    2,592 
Cash at bank and in hand 12,998    10,985 
19,689    18,428 
Creditors: amount falling due within one year 6 (34,519)   (38,213)
Net current assets (14,830)   (19,785)
 
Total assets less current liabilities (10,948)   (13,110)
Creditors: amount falling due after more than one year 7 (71,258)   (73,242)
Net assets (82,206)   (86,352)
 

Capital and reserves
     
Called up share capital 8 1    1 
Profit and loss account (82,207)   (86,353)
Shareholders' funds (82,206)   (86,352)
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 30 October 2024 and were signed on its behalf by:


-------------------------------
Mohammad Younus Kazi
Director
1
General Information
LONDON ACADEMY OF IT LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07923992, registration address Unit-17, Boardman House, 64 Broadway, London, E15 1NT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 15% Straight Line
Fixtures and Fittings 20% Straight Line
Computer Equipment 33.33% Straight Line
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 February 2023 18,511    1,575    17,146    37,232 
Additions      
Disposals      
At 31 January 2024 18,511    1,575    17,146    37,232 
Depreciation
At 01 February 2023 11,852    1,559    17,146    30,557 
Charge for year 2,777    16      2,793 
On disposals      
At 31 January 2024 14,629    1,575    17,146    33,350 
Net book values
Closing balance as at 31 January 2024 3,882        3,882 
Opening balance as at 01 February 2023 6,659    16      6,675 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 4,099    4,851 
4,099    4,851 

5.

Debtors: amounts falling due after one year

2024
£
  2023
£
Other Debtors 2,592    2,592 
2,592    2,592 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 213    213 
Other Creditors 34,306    38,000 
34,519    38,213 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Other Creditors 71,258    73,242 
71,258    73,242 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1 Class A share of £1.00 each  
 

2