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Registered Number: 09550694
England and Wales

 

 

 

EAST LONDON SCHOOL OF YOGA LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
Directors Mr Stewart Gilchrist
Sharon Walsh
Registered Number 09550694
Registered Office 101 GREENWAY AVENUE
WALTHAMSTOW LONDON
E17 3QL
Accountants Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 April 2024
Principal activities
Principal activity of the company during the financial year was of physical well-being activities.
Directors
The directors who served the company throughout the year were as follows:
Mr Stewart Gilchrist
Sharon Walsh
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Mr Stewart Gilchrist
Director

Date approved: 13 January 2025
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 April 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Worth Knowing Accountants Ltd
30 April 2024



....................................................
Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
13 January 2025
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,365    1,174 
1,365    1,174 
Current assets      
Debtors 4 19,059    11,831 
Cash at bank and in hand 429,677    379,914 
448,736    391,745 
Creditors: amount falling due within one year 5 (38,854)   (19,793)
Net current assets 409,882    371,952 
 
Total assets less current liabilities 411,247    373,126 
Net assets 411,247    373,126 
 

Capital and reserves
     
Called up share capital 10    10 
Profit and loss account 411,237    373,116 
Shareholders' funds 411,247    373,126 
 


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 13 January 2025 and were signed on its behalf by:


-------------------------------
Mr Stewart Gilchrist
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 May 2022 10  334,458  334,468 
Profit for the year 60,658  60,658 
Total comprehensive income for the year 60,658  60,658 
Dividends (22,000) (22,000)
Total investments by and distributions to owners (22,000) (22,000)
At 30 April 2023 10  373,116  373,126 
At 01 May 2023 10  373,116  373,126 
Profit for the year 88,121  88,121 
Total comprehensive income for the year 88,121  88,121 
Dividends (50,000) (50,000)
Total investments by and distributions to owners (50,000) (50,000)
At 30 April 2024 10  411,237  411,247 
5
General Information
EAST LONDON SCHOOL OF YOGA LTD is a private company, limited by shares, registered in England and Wales, registration number 09550694, registration address 101 GREENWAY AVENUE, WALTHAMSTOW LONDON, E17 3QL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 33% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 May 2023 1,302    122    865    2,289 
Additions   549      549 
Disposals      
At 30 April 2024 1,302    671    865    2,838 
Depreciation
At 01 May 2023 220    30    865    1,115 
Charge for year 270    88      358 
On disposals      
At 30 April 2024 490    118    865    1,473 
Net book values
Closing balance as at 30 April 2024 812    553      1,365 
Opening balance as at 01 May 2023 1,082    92      1,174 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 7,709    706 
Other Debtors 11,125    11,125 
Directors' Current Accounts 225   
19,059    11,831 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 2    2 
Corporation Tax 26,584    14,196 
Accrued Expenses 750    750 
Directors' Current Accounts   736 
VAT 11,518    4,109 
38,854    19,793 

6