Silverfin false false 31/08/2024 01/09/2023 31/08/2024 Mr J P Lowe 19/06/2014 Mrs K Lowe 10/09/2020 04 March 2025 The principal activity of the company continued to be that of sport tuition, after school activities and providing alternative education by individual learning. 09094059 2024-08-31 09094059 bus:Director1 2024-08-31 09094059 bus:Director2 2024-08-31 09094059 2023-08-31 09094059 core:CurrentFinancialInstruments 2024-08-31 09094059 core:CurrentFinancialInstruments 2023-08-31 09094059 core:Non-currentFinancialInstruments 2024-08-31 09094059 core:Non-currentFinancialInstruments 2023-08-31 09094059 core:ShareCapital 2024-08-31 09094059 core:ShareCapital 2023-08-31 09094059 core:RetainedEarningsAccumulatedLosses 2024-08-31 09094059 core:RetainedEarningsAccumulatedLosses 2023-08-31 09094059 core:FurnitureFittings 2023-08-31 09094059 core:ComputerEquipment 2023-08-31 09094059 core:FurnitureFittings 2024-08-31 09094059 core:ComputerEquipment 2024-08-31 09094059 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2024-08-31 09094059 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2023-08-31 09094059 2023-09-01 2024-08-31 09094059 bus:FilletedAccounts 2023-09-01 2024-08-31 09094059 bus:SmallEntities 2023-09-01 2024-08-31 09094059 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 09094059 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09094059 bus:Director1 2023-09-01 2024-08-31 09094059 bus:Director2 2023-09-01 2024-08-31 09094059 core:FurnitureFittings core:TopRangeValue 2023-09-01 2024-08-31 09094059 core:ComputerEquipment core:TopRangeValue 2023-09-01 2024-08-31 09094059 2022-09-01 2023-08-31 09094059 core:FurnitureFittings 2023-09-01 2024-08-31 09094059 core:ComputerEquipment 2023-09-01 2024-08-31 09094059 core:Subsidiary1 2023-09-01 2024-08-31 09094059 core:Subsidiary1 1 2023-09-01 2024-08-31 09094059 core:Subsidiary2 2023-09-01 2024-08-31 09094059 core:Subsidiary2 1 2023-09-01 2024-08-31 09094059 core:Non-currentFinancialInstruments 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure decimalUnit

Company No: 09094059 (England and Wales)

EDSTART SPECIALIST EDUCATION LTD

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

EDSTART SPECIALIST EDUCATION LTD

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

EDSTART SPECIALIST EDUCATION LTD

BALANCE SHEET

As at 31 August 2024
EDSTART SPECIALIST EDUCATION LTD

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 79,554 42,203
Investments 5 220 0
79,774 42,203
Current assets
Debtors 6 991,516 274,466
Cash at bank and in hand 461,139 358,937
1,452,655 633,403
Creditors: amounts falling due within one year 7 ( 1,162,222) ( 398,203)
Net current assets 290,433 235,200
Total assets less current liabilities 370,207 277,403
Creditors: amounts falling due after more than one year 8 ( 45,000) ( 75,000)
Provision for liabilities ( 19,888) ( 10,550)
Net assets 305,319 191,853
Capital and reserves
Called-up share capital 100 100
Profit and loss account 305,219 191,753
Total shareholder's funds 305,319 191,853

For the financial 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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Edstart Specialist Education Ltd (registered number: 09094059) were approved and authorised for issue by the Board of Directors on 04 March 2025. They were signed on its behalf by:

Mr J P Lowe
Director
EDSTART SPECIALIST EDUCATION LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
EDSTART SPECIALIST EDUCATION LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Edstart Specialist Education Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5 Gerald Road, Salford, M6 6DN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for tuition and activity services 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.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

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

Taxation

Current tax
The 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 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.

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 4 years straight line
Computer equipment 3 years straight line

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.

Impairment of 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.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and loans are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 89 66

4. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 September 2023 47,779 53,933 101,712
Additions 39,957 15,745 55,702
Disposals ( 5,987) ( 8,736) ( 14,723)
At 31 August 2024 81,749 60,942 142,691
Accumulated depreciation
At 01 September 2023 34,653 24,856 59,509
Charge for the financial year 6,121 13,105 19,226
Disposals ( 6,861) ( 8,737) ( 15,598)
At 31 August 2024 33,913 29,224 63,137
Net book value
At 31 August 2024 47,836 31,718 79,554
At 31 August 2023 13,126 29,077 42,203

5. Fixed asset investments

2024 2023
£ £
Subsidiary undertakings 220 0

Investments in shares

Name of entity Registered office Class of
shares
Ownership
31.08.2024
Edstart Schools Bolton Ltd 5 Gerald Road, Salford, M6 6DW Ordinary 100.00%
Edstart Schools Oldham & Rochdale Ltd 5 Gerald Road, Salford, M6 6DW Ordinary 100.00%
Edstart Schools Wigan Ltd 5 Gerald Road, Salford, M6 6DW Ordinary B 20.00%

6. Debtors

2024 2023
£ £
Trade debtors 799,343 79,847
Amounts owed by connected companies 123,998 162,096
Other debtors 68,175 32,523
991,516 274,466

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 30,000 30,000
Trade creditors 81,325 103,405
Taxation and social security 247,892 149,033
Other creditors 803,005 115,765
1,162,222 398,203

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 45,000 75,000

The CBILS bank loan is covered by a government-backed guarantee.