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Registered number: 12053297
Sarah Howe Cookson School Of Dance Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Beach Accountants Limited
Chartered Certified Accountants
10 Blue Sky Way
Monkton Business Park South
Hebburn
South Tyneside
NE31 2EQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12053297
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 2,000
Tangible Assets 5 1,064 1,399
1,064 3,399
CURRENT ASSETS
Debtors 6 973 1,151
Cash at bank and in hand 24,838 34,261
25,811 35,412
Creditors: Amounts Falling Due Within One Year 7 (3,760 ) (13,928 )
NET CURRENT ASSETS (LIABILITIES) 22,051 21,484
TOTAL ASSETS LESS CURRENT LIABILITIES 23,115 24,883
PROVISIONS FOR LIABILITIES
Deferred Taxation (202 ) (266 )
NET ASSETS 22,913 24,617
CAPITAL AND RESERVES
Called up share capital 8 10 10
Profit and Loss Account 22,903 24,607
SHAREHOLDERS' FUNDS 22,913 24,617
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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 Sarah Cookson
Director
20/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sarah Howe Cookson School Of Dance Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12053297 . The registered office is 38 Elmsleigh Gardens, Cleadon, Sunderland, SR6 7PU.
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.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. 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
Computer Equipment 20% Reducing Balance
2.5. 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 10,000
As at 30 June 2024 10,000
Amortisation
As at 1 July 2023 8,000
Impairment losses 2,000
As at 30 June 2024 10,000
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 2,000
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 2,238 781 3,019
As at 30 June 2024 2,238 781 3,019
Depreciation
As at 1 July 2023 1,159 461 1,620
Provided during the period 271 64 335
As at 30 June 2024 1,430 525 1,955
Net Book Value
As at 30 June 2024 808 256 1,064
As at 1 July 2023 1,079 320 1,399
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 516 594
Prepayments and accrued income 457 557
973 1,151
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 518 450
Accruals and deferred income 1,098 1,205
Director's loan account 2,144 12,273
3,760 13,928
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
9. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mrs Sarah Cookson 1,000 2,000
Page 5