Registered number
06309234
Educonnect (South) Limited
Unaudited Filleted Accounts
31 March 2024
Educonnect (South) Limited
Registered number: 06309234
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,379 1,843
Current assets
Stocks 5,000 8,886
Debtors 4 19,853 16,225
Cash at bank and in hand 8,642 11,961
33,495 37,072
Creditors: amounts falling due within one year 5 (25,359) (21,780)
Net current assets 8,136 15,292
Total assets less current liabilities 9,515 17,135
Creditors: amounts falling due after more than one year 6 (10,000) (16,000)
Provisions for liabilities (81) (350)
Net (liabilities)/assets (566) 785
Capital and reserves
Called up share capital 10 10
Profit and loss account (576) 775
Shareholder's funds (566) 785
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.
NR Smith
Director
Approved by the board on 15 November 2024
Educonnect (South) Limited
Notes to the Accounts
for the year ended 31 March 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Office equipment 25% reducing balance
Furniture and fixtures 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
The accounts have been prepared on a going concern basis. This is dependent on the continuing support of the company's director and bankers.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 15,074
At 31 March 2024 15,074
Depreciation
At 1 April 2023 13,231
Charge for the year 464
At 31 March 2024 13,695
Net book value
At 31 March 2024 1,379
At 31 March 2023 1,843
4 Debtors 2024 2023
£ £
Trade debtors 13,990 9,397
Other debtors 5,863 6,828
19,853 16,225
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,000 6,000
Trade creditors 2,371 2,537
Taxation and social security costs 5,423 4,192
Other creditors 11,565 9,051
25,359 21,780
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,000 16,000
7 Pension commitments
The company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £0 (2023 - £0) were due to the fund.
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
NR Smith
Loan 1 1,184 9,306 (12,597) (2,107)
1,184 9,306 (12,597) (2,107)
The above loan was unsecured, interest-free and repayable on demand.
9 Controlling party
The ultimate controlling party is NR Smith by virtue of his ownership of 100% of the issued ordinary share capital in the company.
10 Other information
Educonnect (South) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Units 1-4 Crossley Farm Business Centre
Swan Lane, Winterbourne
Bristol
South Gloucestershire
BS36 1RH
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