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Registered number: 11665912
Cross Keys Learning Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Cleverdons
Chartered Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11665912
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 107,133 131,350
107,133 131,350
CURRENT ASSETS
Debtors 5 383,982 126,672
Cash at bank and in hand 638,558 903,394
1,022,540 1,030,066
Creditors: Amounts Falling Due Within One Year 6 (691,342 ) (784,767 )
NET CURRENT ASSETS (LIABILITIES) 331,198 245,299
TOTAL ASSETS LESS CURRENT LIABILITIES 438,331 376,649
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,555 ) (5,287 )
NET ASSETS 430,776 371,362
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 430,676 371,262
SHAREHOLDERS' FUNDS 430,776 371,362
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Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Mr Stephen Fuller
Director
Miss Sharon Mount
Director
16 January 2025
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
Cross Keys Learning Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11665912 . The registered office is The LEAD Centre, Dane Valley Road, St Peters, Broadstairs, Kent, CT10 3JJ.
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.
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. 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:
Leasehold 10% on cost
Plant & Machinery 15% on written down value
Motor Vehicles 25% on written down value
Fixtures & Fittings 15% on written down value
Computer Equipment 33% on cost
2.4. 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: 28 (2023: 24)
28 24
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 September 2023 23,027 146,988 170,015
Additions - 21,981 21,981
As at 31 August 2024 23,027 168,969 191,996
Depreciation
As at 1 September 2023 4,605 34,060 38,665
Provided during the period 4,606 41,592 46,198
As at 31 August 2024 9,211 75,652 84,863
Net Book Value
As at 31 August 2024 13,816 93,317 107,133
As at 1 September 2023 18,422 112,928 131,350
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 352,600 109,133
Amounts owed by group undertakings 6,181 -
Other debtors 25,201 17,539
383,982 126,672
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,845 13,268
Amounts owed to group undertakings 201,756 200,128
Other creditors 372,355 438,773
Taxation and social security 112,386 132,598
691,342 784,767
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 31,306 18,320
Later than one year and not later than five years 22,922 2,103
54,228 20,423
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