Company Registration No. 04375908 (England and Wales)
ETHERTON EDUCATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
ETHERTON EDUCATION LIMITED
COMPANY INFORMATION
Directors
Mr P B Etherton
Mrs A C Etherton (Deceased)
Secretary
Mr S W D Etherton
Company number
04375908
Registered office
Marlands
Sampford Arundel
Wellington
Somerset
TA21 9QU
Accountants
Apsleys Chartered Accountants
21 Bampton Street
Tiverton
Devon
EX16 6AA
ETHERTON EDUCATION LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ETHERTON EDUCATION LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,764
2,932
Investment properties
4
470,000
485,000
473,764
487,932
Current assets
Debtors
5
10,858
11,754
Cash at bank and in hand
657,414
659,526
668,272
671,280
Creditors: amounts falling due within one year
6
(111,514)
(100,717)
Net current assets
556,758
570,563
Total assets less current liabilities
1,030,522
1,058,495
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
1,030,520
1,058,493
Total equity
1,030,522
1,058,495
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 22 March 2025 and are signed on its behalf by:
Mr P B Etherton
Director
Company Registration No. 04375908
ETHERTON EDUCATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information
Etherton Education Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom.
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
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.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
5 Years straight line
Fixtures, fittings & equipment
15% Reducing balance
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.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.
Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
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, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
ETHERTON EDUCATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Employee 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.
1.7
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2023 - 1).
3
Tangible fixed assets
Land and buildings Freehold
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
£
Cost
At 1 November 2023
15,198
17,085
21,102
53,385
Additions
1,908
1,908
At 31 October 2024
15,198
17,085
23,010
55,293
Depreciation and impairment
At 1 November 2023
15,198
14,153
21,102
50,453
Depreciation charged in the year
440
636
1,076
At 31 October 2024
15,198
14,593
21,738
51,529
Carrying amount
At 31 October 2024
2,492
1,272
3,764
At 31 October 2023
2,932
2,932
ETHERTON EDUCATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
4
Investment property
2024
£
Fair value
At 1 November 2023
485,000
Revaluations
(15,000)
At 31 October 2024
470,000
Investment properties were valued at fair value by the directors as at 31 October 2023.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
5,888
Prepayments and accrued income
10,858
5,866
10,858
11,754
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
5,513
903
Other taxation and social security
704
704
Other creditors
103,497
91,256
Accruals and deferred income
1,800
7,854
111,514
100,717
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2