The Schoolwear Association Limited Filleted Accounts Cover
The Schoolwear Association Limited
Company No. 14942831
Information for Filing with The Registrar
31 October 2024
The Schoolwear Association Limited Balance Sheet Registrar
at
31 October 2024
Company No.
14942831
Notes
2024
£
Current assets
Debtors
4
25,651
Cash at bank and in hand
79,223
104,874
Creditors: Amount falling due within one year
5
(1,401)
Net current assets
103,473
Total assets less current liabilities
103,473
Net assets
103,473
Reserves
Income and expenditure account
6
103,473
Total equity
103,473
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the period ended 31 October 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's income and expenditure account.
Approved by the board on 14 March 2025 and signed on its behalf by:
N. Ward
Director
14 March 2025
The Schoolwear Association Limited Notes to the Accounts Registrar
for the period ended 31 October 2024
1
General information
The Schoolwear Association Limited is a private company limited by guarantee and incorporated in England and Wales.
Its registered number is: 14942831
Its registered office is:
Its trading address is:
Unit 1a Discovery Park
Unit 1a Discovery Park
Crossley Road
Crossley Road
Stockport
Stockport
SK4 5DZ
SK4 5DZ
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable for membership services and is recognised over the membership period.
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 the surplus as reported in the income and expenditure account 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 temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary 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.

Current or deferred tax for the year is recognised in the income and expenditure account, except when they relate 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.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3
Employees
2024
Number
The average monthly number of employees (including directors) during the period:
14
4
Debtors
2024
£
Trade debtors
5,000
VAT recoverable
20,651
25,651
5
Creditors:
amounts falling due within one year
2024
£
Trade creditors
168
Corporation tax
233
Accruals and deferred income
1,000
1,401
6
Reserves
Income and expenditure account - includes all current and prior period retained surpluses and deficits.
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