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Company registration number: |
07116300
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ENGLISH IN TOTNES LTD
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REPORT OF THE DIRECTORS' AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 October 2023 |
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ENGLISH IN TOTNES LTD |
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BALANCE SHEET |
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AS AT 31 October 2023
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2023 |
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2022 |
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Notes |
£ |
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£ |
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£ |
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£ |
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FIXED ASSETS | | | | | | | | | | | |
Intangible assets | | | 3 | | | 1 | | | | 1 | |
Tangible assets | | | 4 | | | 90,428 | | | | 100,802 | |
Financial assets | | | 5 | | | 45,000 | | | | 45,000 | |
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| | | | | | | 135,429 | | | | 145,803 | |
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CURRENT ASSETS |
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Debtors | | | | 0 | | | | 164 | | | | |
Cash at bank and in hand | | | | 69,768 | | | | 41,414 | | | | |
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| | | | | 69,768 | | | | 41,578 | | | |
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CREDITORS |
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Amounts falling due within one year |
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(60,979) |
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(83,553) |
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NET CURRENT ASSETS |
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8,789 |
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(41,975) |
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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144,218 |
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103,828 |
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Creditors falling due after one year | | | | | (24,617) | | | | (41,571) | |
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NET ASSETS |
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119,601 |
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62,257 |
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CAPITAL AND RESERVES |
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Called-up equity share capital |
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100 |
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100 |
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Profit and loss account |
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119,501 |
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62,157 |
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SHAREHOLDERS FUNDS |
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119,601 |
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62,257 |
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For the year ending 31 October 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. | | | | | | | |
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. | | | | | | | |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts. | | | | | | | |
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All the members have consented to the preparation of abridged financial statements for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006. | | | | | | | |
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The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime. | | | | | | | |
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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. Approved by the board of directors on 17 October 2024 and signed on its behalf. | | | | | | | |
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.......................................................................... |
Ms M A Barker |
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17 October 2024
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The annexed notes form part of these financial statements. | | | | | | | |
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ENGLISH IN TOTNES LTD |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 OCTOBER 2023 |
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1. |
Accounting policies |
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| Statutory information | | | | | | | |
| English in Totnes Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office details can be found on the Company Information page. The presentation currency of the financial statements is the £ sterling. | |
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| Statement of compliance | | | | | | | |
| These financial statements have been prepared in accordance with the provisions of Section 1A 'Small entities' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. There were no material departures from the standard. | |
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Basis of preparing the financial statements |
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The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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| Turnover | | | | | | | | | |
| Turnover comprises amounts receivable for services excluding value added tax. | |
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| Intangible Assets |
| Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful life. The period chosen for writing off goodwill is 10 years. Provision is made for any impairment. | |
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| Fixed Assets | | | | | | | | |
| Tangible fixed assets are stated at cost less depreciation. Depreciation i provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: | |
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| Fixtures and Fittings - 10 % per annum reducing balance | |
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| Motor Vehicles - 25% per annum reducing balance | |
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| Impairment of fixed assets | | | | | | | |
| At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. The recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset from which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit and loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment cease to apply. | |
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| Leasing | | | | | | | | | |
| Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. | |
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| Deferred Taxation | | | | | | | | |
| Provision is made for taxation deferred as a result of material timing differences between the incidence of income and expenditure for taxation purposes, using the liability method, only to the extent that, in the opinion of the director, there is a reasonable probability that a liability or asset will crystallise in the near future. In the opinion of the director no such material event will occur in the near future. | |
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| Pension Scheme | | | | | | | | |
| The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. | |
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2. | Employees | | | |
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| The average number of persons employed by the company (including directors) during the year was 14. |
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4. | Tangible fixed assets | | | | | | | | | |
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Total |
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| Cost | | | | | | | | | | |
| At start of period | | 291,566 | |
| Disposals | | | (12,151) | |
| At end of period | | 279,415 | |
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| Depreciation | | | | | | | | | | |
| At start of period | | 190,764 | |
| Provided during the period | | 10,047 | |
| On disposals | | | (11,824) | |
| At end of period | | 188,987 | |
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| Net Book Value | | | | | | | | | |
| At start of period | | 100,802 | |
| At end of period | | 90,428 | |
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6. | Directors' advances, credits and guarantees | | | | | | | | |
| Included in creditors falling due in one year are loans owed by the company to the director of £26,693, last year £26,793. The loans are unsecured and have no fixed repayment term. The loans were not overdrawn at any time during the year. | |
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