Company registration number SC386450 (Scotland)
ELMA WHYTE SCHOOL OF DANCING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
ELMA WHYTE SCHOOL OF DANCING LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ELMA WHYTE SCHOOL OF DANCING LTD
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,619
2,159
Current assets
Debtors
4
15,439
16,906
Cash at bank and in hand
3,249
1,054
18,688
17,960
Creditors: amounts falling due within one year
5
(14,170)
(15,031)
Net current assets
4,518
2,929
Total assets less current liabilities
6,137
5,088
Creditors: amounts falling due after more than one year
6
(2,630)
(5,027)
Net assets
3,507
61
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
3,506
60
Total equity
3,507
61
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 29 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 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 and signed by the director and authorised for issue on 27 March 2025
Mrs A Maasz
Director
Company Registration No. SC386450
ELMA WHYTE SCHOOL OF DANCING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2024
- 2 -
1
Accounting policies
Company information
Elma Whyte School of Dancing Ltd is a private company limited by shares incorporated in Scotland. The registered office is Azets, Titanium 1, King's Inch Place, Renfrew, United Kingdom, PA4 8WF. The principal place of business is 3 Incle Street, Paisley, PA1 1HJ.
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.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.3
Tangible fixed assets
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
25% on reducing balance
Computers
25% on reducing balance
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).
1.5
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.
1.6
Taxation
The tax expense represents the tax currently payable.
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.
ELMA WHYTE SCHOOL OF DANCING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was :
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 30 June 2023 and 29 June 2024
3,560
3,125
6,685
Depreciation and impairment
At 30 June 2023
2,913
1,613
4,526
Depreciation charged in the year
162
378
540
At 29 June 2024
3,075
1,991
5,066
Carrying amount
At 29 June 2024
485
1,134
1,619
At 29 June 2023
647
1,512
2,159
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
360
940
Other debtors
15,079
15,966
15,439
16,906
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
2,556
2,556
Trade creditors
482
Taxation and social security
8,979
8,240
Other creditors
2,635
3,753
14,170
15,031
ELMA WHYTE SCHOOL OF DANCING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2024
- 4 -
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
2,630
5,027
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
8
Directors' transactions
Loans to directors are made with no fixed terms of repayment at an interest rate of 2.25%.
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Loan
2.25
11,781
4,558
252
(5,698)
10,893
11,781
4,558
252
(5,698)
10,893