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Registration number: 06857560

Accelerated Education Tuition Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Accelerated Education Tuition Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Accelerated Education Tuition Limited

Company Information

Director

Mr S C Curran

Registered office

V3
Vector Park
Forest Road
Feltham
Middlesex
TW13 7EJ

Accountants

Grays Accountants Ltd Kings Works
Kings Road
Teddington
Middlesex
TW11 0QB

 

Accelerated Education Tuition Limited

(Registration number: 06857560)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,523,687

1,660,280

Current assets

 

Stocks

5

184,708

334,492

Debtors

6

121,611

118,191

Cash at bank and in hand

 

652,218

692,895

 

958,537

1,145,578

Creditors: Amounts falling due within one year

7

(1,005,623)

(1,289,045)

Net current liabilities

 

(47,086)

(143,467)

Total assets less current liabilities

 

1,476,601

1,516,813

Provisions for liabilities

(56,970)

(60,313)

Net assets

 

1,419,631

1,456,500

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,419,531

1,456,400

Shareholders' funds

 

1,419,631

1,456,500

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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 March 2025
 

.........................................
Mr S C Curran
Director

 

Accelerated Education Tuition Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
V3
Vector Park
Forest Road
Feltham
Middlesex
TW13 7EJ
England

These financial statements were authorised for issue by the director on 27 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Accelerated Education Tuition Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

in accordance with the property

Fixtures and fittings

20% reducing balance method

Plant and machinery

20% reducing balance method

Office equipment

20% reducing balance method

Motor vehicles

20% reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Accelerated Education Tuition Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 311 (2023 - 318).

 

Accelerated Education Tuition Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 September 2023

2,171,917

84,763

402,022

204,134

Additions

-

239

9,907

1,004

Disposals

-

-

-

-

At 31 August 2024

2,171,917

85,002

411,929

205,138

Depreciation

At 1 September 2023

846,269

74,504

189,236

101,228

Charge for the year

111,621

2,071

28,485

19,867

Eliminated on disposal

-

-

-

-

At 31 August 2024

957,890

76,575

217,721

121,095

Carrying amount

At 31 August 2024

1,214,027

8,427

194,208

84,043

At 31 August 2023

1,325,648

10,259

212,786

102,906

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

36,300

2,899,136

Additions

20,083

31,233

Disposals

(13,985)

(13,985)

At 31 August 2024

42,398

2,916,384

Depreciation

At 1 September 2023

27,619

1,238,856

Charge for the year

5,339

167,383

Eliminated on disposal

(13,542)

(13,542)

At 31 August 2024

19,416

1,392,697

Carrying amount

At 31 August 2024

22,982

1,523,687

At 31 August 2023

8,681

1,660,280

 

Accelerated Education Tuition Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Included within the net book value of land and buildings above is £1,214,027 (2023 - £1,325,648) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

184,708

334,492

6

Debtors

Current

2024
£

2023
£

Trade debtors

728

1,348

Prepayments

118,333

114,293

Other debtors

2,550

2,550

 

121,611

118,191

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

112,232

188,895

Taxation and social security

255,498

255,280

Other creditors

637,893

844,870

1,005,623

1,289,045

8

Ultimate Controlling Party

The ultimate controlling party is Mr S Curran, the director.