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Registered number: 07707612
Richmond Training Academy Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
The Accountancy People Manchester Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07707612
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,600 11,467
8,600 11,467
CURRENT ASSETS
Debtors 5 71,233 86,343
Cash at bank and in hand 4,453 10,858
75,686 97,201
Creditors: Amounts Falling Due Within One Year 6 (23,103 ) (21,628 )
NET CURRENT ASSETS (LIABILITIES) 52,583 75,573
TOTAL ASSETS LESS CURRENT LIABILITIES 61,183 87,040
Creditors: Amounts Falling Due After More Than One Year 7 (19,167 ) (29,167 )
NET ASSETS 42,016 57,873
CAPITAL AND RESERVES
Called up share capital 8 152 152
Share premium account 400,000 250,000
Profit and Loss Account (358,136 ) (192,279 )
SHAREHOLDERS' FUNDS 42,016 57,873
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Gillian Fishley
Director
14 November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Richmond Training Academy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07707612 . The registered office is 386 Buxton Road, Stockport, SK2 7BY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 rendering of services.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
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4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 May 2023 27,640
As at 30 April 2024 27,640
Depreciation
As at 1 May 2023 16,173
Provided during the period 2,867
As at 30 April 2024 19,040
Net Book Value
As at 30 April 2024 8,600
As at 1 May 2023 11,467
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,333 6,229
Prepayments and accrued income 1,410 1,285
Other debtors 46,244 -
Deferred tax current asset 22,246 78,829
71,233 86,343
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,972 3,292
Bank loans and overdrafts 10,000 10,000
Other taxes and social security 5,062 3,380
Other creditors 1,069 4,431
Accruals and deferred income - 525
23,103 21,628
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 19,167 29,167
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 152 152
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9. Related Party Transactions
Included in other debtors is £46,244 (2023 other creditors of £3,756) owed from Think Trinity Limited, the parent company.
10. Ultimate Controlling Party
The company's ultimate controlling party is Think Trinity Limited by virtue of their ownership of 100% of the issued share capital in the company.
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