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Company Registration No. 12759432 (England and Wales)
NORWICH GUITAR ACADEMY LTD Unaudited accounts for the year ended 31 July 2024
NORWICH GUITAR ACADEMY LTD Unaudited accounts Contents
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NORWICH GUITAR ACADEMY LTD Company Information for the year ended 31 July 2024
Directors
Mr Darryl Hazelhurst-Jeavons Mr Leigh Sullivan
Company Number
12759432 (England and Wales)
Registered Office
9-11 PLOWRIGHT PLACE SWAFFHAM PE37 7LQ ENGLAND
Accountants
Azoth Digital Accountants Jonathan Scott Hall Thorpe Road Norwich Norfolk NR1 1UH
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NORWICH GUITAR ACADEMY LTD Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,646 
2,057 
Current assets
Debtors
7,424 
6,847 
Cash at bank and in hand
173 
208 
7,597 
7,055 
Creditors: amounts falling due within one year
(28,849)
(26,259)
Net current liabilities
(21,252)
(19,204)
Net liabilities
(19,606)
(17,147)
Capital and reserves
Called up share capital
100 
100 
Share premium
11,951 
11,951 
Profit and loss account
(31,657)
(29,198)
Shareholders' funds
(19,606)
(17,147)
For the year ending 31 July 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2025 and were signed on its behalf by
Mr Darryl Hazelhurst-Jeavons Director Company Registration No. 12759432
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NORWICH GUITAR ACADEMY LTD Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
NORWICH GUITAR ACADEMY LTD is a private company, limited by shares, registered in England and Wales, registration number 12759432. The registered office is 9-11 PLOWRIGHT PLACE, SWAFFHAM, PE37 7LQ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
20% reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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NORWICH GUITAR ACADEMY LTD Notes to the Accounts for the year ended 31 July 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 August 2023
4,018 
At 31 July 2024
4,018 
Depreciation
At 1 August 2023
1,961 
Charge for the year
411 
At 31 July 2024
2,372 
Net book value
At 31 July 2024
1,646 
At 31 July 2023
2,057 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
7,424 
6,847 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
340 
340 
Other creditors
5,000 
5,000 
Loans from directors
22,889 
20,779 
Accruals
620 
140 
28,849 
26,259 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Transactions with related parties
Key Mananagement Personnel. On 20th January 2022, Hamilton Blake Limited loaned Norwich Guitar Academy Ltd £5,000 to cover operational expenditure. This loan is interest free and repayable on demand. During the period, Hamilton Blake Limited also recharged costs on to Norwich Guitar Academy Ltd. These costs were fully repaid during the year.
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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