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Registered Number:02805230













EAST COAST ENERGY TRAINING ACADEMY LIMITED




UNAUDITED

ANNUAL REPORT AND FINANCIAL STATEMENTS
 
PAGES FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024











 
EAST COAST ENERGY TRAINING ACADEMY LIMITED
REGISTERED NUMBER:02805230


BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Notes
£
£

Fixed assets
  

Tangible assets
 4 
1,240
2,109

  
1,240
2,109

Current assets
  

Debtors: amounts falling due within one year
 5 
95,553
164,666

Cash at bank and in hand
 6 
1,018,209
1,417,684

  
1,113,762
1,582,350

Creditors: amounts falling due within one year
 7 
(770,869)
(1,239,837)

Net current assets
  
 
 
342,893
 
 
342,513

  

Net assets
  
344,133
344,622


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
343,133
343,622

  
344,133
344,622


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 December 2024.


Mrs T Ellis
Director and Chair

The notes on pages 2 to 7 form part of these financial statements.


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EAST COAST ENERGY TRAINING ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

East Coast Energy Training Academy Limited (the "Company") is a private company limited by shares and incorporated and domiciled in England and Wales. The address of its registered office is St Peters Street, Lowestoft, Suffolk NR32 2NB. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have prepared detailed cash flow forecasts for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements, in making their going concern assessment. The directors consider that the Company will be able to meet its liabilities and obligations as they fall due, and continue trading for the foreseeable future. Accordingly, these financial statements have been prepared on the going concern basis.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.


- 2 -



 
EAST COAST ENERGY TRAINING ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.6

Taxation

The Company does not incur a Corporation Tax liability as it pays all of its taxable profits each year to the immediate parent undertaking under "Gift Aid" and on the basis these payments are made within nine months of the year end this payment is an allowable deduction for Corporation tax purposes. No deferred tax is recognised as the unwinding of temporary differences is recognised in the calculation of taxable profits distributed as Gift Aid and therefore no liability or asset should be recognised.

 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
3 - 10 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.


- 3 -



 
EAST COAST ENERGY TRAINING ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.11

Creditors

Short-term creditors are measured at the transaction price. 

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees (whose costs are recharged by the immediate parent undertaking), including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
7
7


- 4 -



 
EAST COAST ENERGY TRAINING ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost 


At 1 August 2023
159,300



At 31 July 2024

159,300



Depreciation


At 1 August 2023
157,191


Charge for the year on owned assets
869



At 31 July 2024

158,060



Net book value



At 31 July 2024
1,240



At 31 July 2023
2,109


- 5 -



 
EAST COAST ENERGY TRAINING ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
73,853
140,722

Other debtors
1,049
-

Prepayments and accrued income
20,651
23,944

95,553
164,666



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,018,209
1,417,684



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
13,283
79,213

Amounts owed to parent undertaking
697,965
1,123,281

Accruals and deferred income
59,621
37,343

770,869
1,239,837



8.


Contingent liabilities

The Company entered into a debenture with Lloyds Bank Plc on 8 February 2022 whereby all amounts owed by the Company to Lloyds Bank Plc are secured by fixed and floating charges over the Company's assets. As at 31 July 2024, no amounts were owed by the Company to Lloyds Bank Plc (2023 - £Nil).


9.Operating lease commitments

The Company had non-cancellable operating lease commitments of £1,475,000 (2023 - £295,000) at the year end.


- 6 -



 
EAST COAST ENERGY TRAINING ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

10.


Controlling party

The Company is wholly owned subsidiary of East Coast College Corporation, the ultimate controlling party.
The smallest and largest group which includes the results of the Company is that headed by  East Coast College Corporation. Copies of the consolidated financial statements of East Coast College Corporation are publicly available from St. Peter's Street, Lowestoft, Suffolk NR32 2NB.
In addition, advantage has been taken of disclosure exemptions available under paragraph 1AC.35 of FRS 102 in respect of transactions with entities that are part of the East Coast College Corporation group.


11.


Auditor's information

The auditor's report on the financial statements for the year ended 31 July 2024 was unqualified.

The audit report was signed on 19 December 2024 by Timothy O'Connor (Senior Statutory Auditor) on behalf of Sumer Auditco Limited.

 

- 7 -