Registered number
12095335
Preston Tuition Limited
Unaudited Filleted Accounts
31 July 2024
Preston Tuition Limited
Registered number: 12095335
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 35,028 7,936
Tangible assets 4 434 542
35,462 8,478
Current assets
Debtors 5 11,994 -
Cash at bank and in hand 2,221 504
14,215 504
Creditors: amounts falling due within one year 6 (19,588) (8,748)
Net current liabilities (5,373) (8,244)
Total assets less current liabilities 30,089 234
Creditors: amounts falling due after more than one year 7 (31,500) -
Provisions for liabilities (82) (103)
Net (liabilities)/assets (1,493) 131
Capital and reserves
Called up share capital 101 100
Profit and loss account (1,594) 31
Shareholder's funds (1,493) 131
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Garratt
Director
Approved by the board on 8 November 2024
Preston Tuition Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 8
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 16,560
Additions 38,005
At 31 July 2024 54,565
Amortisation
At 1 August 2023 8,624
Provided during the year 10,913
At 31 July 2024 19,537
Net book value
At 31 July 2024 35,028
At 31 July 2023 7,936
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023 846
At 31 July 2024 846
Depreciation
At 1 August 2023 304
Charge for the year 108
At 31 July 2024 412
Net book value
At 31 July 2024 434
At 31 July 2023 542
5 Debtors 2024 2023
£ £
Other debtors 11,994 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,450 -
Taxation and social security costs 8,155 2,368
Other creditors 1,983 6,380
19,588 8,748
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 31,500 -
8 Other information
Preston Tuition Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 16 Eastway Business Village
Olivers Place
Fulwood
Preston
PR2 9WT
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