Company registration number 03612354 (England and Wales)
ACCESS TRAINING (SOUTH WEST) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
ACCESS TRAINING (SOUTH WEST) LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ACCESS TRAINING (SOUTH WEST) LTD
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,607
11,611
Current assets
Debtors
4
5,089
21,047
Cash at bank and in hand
2,131,529
616,511
2,136,618
637,558
Creditors: amounts falling due within one year
5
(563,594)
(146,785)
Net current assets
1,573,024
490,773
Total assets less current liabilities
1,583,631
502,384
Creditors: amounts falling due after more than one year
(5,938)
(11,946)
Net assets
1,577,693
490,438
Capital and reserves
Called up share capital
90,002
90,002
Profit and loss reserves
1,487,691
400,436
Total equity
1,577,693
490,438

For the financial year ended 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 6 February 2025 and are signed on its behalf by:
Miss L J Banks
Director
Company registration number 03612354 (England and Wales)
ACCESS TRAINING (SOUTH WEST) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information

Access Training (South West) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 7 Tregarne Terrace, St Austell, Cornwall, PL25 4BE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% per annum on the reducing balance method
Computers
33.33% per annum on the straight line method
Motor vehicles
25% per annum on the reducing balance method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

ACCESS TRAINING (SOUTH WEST) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
19
18
ACCESS TRAINING (SOUTH WEST) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 September 2023
16,389
63,223
41,722
121,334
Additions
2,175
-
0
4,995
7,170
Disposals
(15,242)
(63,223)
(15,687)
(94,152)
At 31 August 2024
3,322
-
0
31,030
34,352
Depreciation and impairment
At 1 September 2023
13,316
60,257
36,150
109,723
Depreciation charged in the year
498
-
0
2,611
3,109
Eliminated in respect of disposals
(13,265)
(60,257)
(15,565)
(89,087)
At 31 August 2024
549
-
0
23,196
23,745
Carrying amount
At 31 August 2024
2,773
-
0
7,834
10,607
At 31 August 2023
3,073
2,966
5,572
11,611
4
Debtors: amounts falling due within one year
2024
2023
£
£
Trade debtors
-
0
10,060
Other debtors
-
0
6,607
Prepayments and accrued income
5,089
4,380
5,089
21,047
5
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Other borrowings
6,009
6,009
Trade creditors
25,124
3,163
Corporation tax
449,064
107,116
Other taxation and social security
66,560
4,780
Other creditors
701
289
Accruals and deferred income
16,136
25,428
563,594
146,785
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