Registered number
SC462879
ACADEMY HOUSE LIMITED
Filleted Accounts
31 May 2024
ACADEMY HOUSE LIMITED
Registered number: SC462879
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 145,488 161,759
145,488 161,759
Current assets
Stocks - -
Debtors 7 151,200 151,200
Cash at bank and in hand 99,697 11,491
250,897 162,691
Creditors: amounts falling due within one year 9 (237,317) (236,773)
Net current assets/(liabilities) 13,580 (74,082)
Total assets less current liabilities 159,068 87,677
Creditors: amounts falling due after more than one year 10 (33,334) (38,889)
Provisions for liabilities - -
Net assets 125,734 48,788
Capital and reserves
Called up share capital 1,000 1,000
Share premium - -
Profit and loss account 124,734 47,788
Shareholder's funds 125,734 48,788
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.
Amer Iqbal
Director
Approved by the board on 11 February 2025
ACADEMY HOUSE LIMITED
Notes to the Accounts
for the year ended 31 May 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.
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 at 10% reducing balance.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 70 57
3 Tangible fixed assets
Fixtures & Fittings Equipment Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 188,623 37,766 53,405 279,794
Additions - - 16,400 16,400
Surplus on revaluation - - - -
Disposals - - (30,455) (30,455)
At 31 May 2024 188,623 37,766 39,350 265,739
Depreciation
At 1 June 2023 95,009 3,777 19,249 118,035
Charge for the year 9,361 3,399 1,887 14,647
Surplus on revaluation - - - -
On disposals - - (12,431) (12,431)
At 31 May 2024 104,370 7,176 8,705 120,251
Net book value
At 31 May 2024 84,253 30,590 30,645 145,488
At 31 May 2023 93,614 33,989 34,156 161,759
7 Debtors 2024 2023
£ £
Other debtors 151,200 151,200
151,200 151,200
9 Creditors: amounts falling due within one year 2024 2023
£ £
Non-equity preference shares - -
Bank loans and overdrafts - -
Obligations under finance lease and hire purchase contracts 504 504
Accruals 31,224 43,200
Taxation and social security costs 53,882 38,162
Other creditors 151,707 154,907
237,317 236,773
10 Creditors: amounts falling due after one year 2024 2023
£ £
Non-equity preference shares - -
Bank loans 33,334 38,889
Obligations under finance lease and hire purchase contracts - -
Trade creditors - -
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Other creditors - -
33,334 38,889
23 Other information
ACADEMY HOUSE LIMITED is a private company limited by shares and incorporated in Scotland. Its registered office is:
Academy House Services
Unit 1000, Academy Business Park,
Gower Street,
Glasgow,
G51 1PR
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