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NEW FORMATION EDUCATION LIMITED

Registered Number
09897189
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

NEW FORMATION EDUCATION LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

WITT, Matthew Robert

Registered Address

Tintagel House
92 Albert Embankment
London
SE1 7TY

Registered Number

09897189 (England and Wales)
NEW FORMATION EDUCATION LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,3082,480
2,3082,480
Current assets
Debtors4664,941487,041
Cash at bank and on hand527,854295,440
1,192,795782,481
Creditors amounts falling due within one year5(739,023)(436,467)
Net current assets (liabilities)453,772346,014
Total assets less current liabilities456,080348,494
Net assets456,080348,494
Capital and reserves
Called up share capital100100
Profit and loss account455,980348,394
Shareholders' funds456,080348,494
The financial statements were approved and authorised for issue by the Director on 9 April 2025, and are signed on its behalf by:
WITT, Matthew Robert
Director
Registered Company No. 09897189
NEW FORMATION EDUCATION LIMITED
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment3
2.Average number of employees

20242023
Average number of employees during the year128
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 September 2311,02111,021
Additions1,5681,568
At 31 August 2412,58912,589
Depreciation and impairment
At 01 September 238,5418,541
Charge for year1,7401,740
At 31 August 2410,28110,281
Net book value
At 31 August 242,3082,308
At 31 August 232,4802,480
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables663,056480,849
Other debtors1,7686,192
Prepayments and accrued income117-
Total664,941487,041
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables100,86218,897
Taxation and social security321,134222,023
Other creditors300,129195,547
Accrued liabilities and deferred income16,898-
Total739,023436,467
6.Secured creditors
The factoring company holds a debenture as security against the balance, with full guarantee by way of a fixed charge over all specific book debts and floating charge over any other assets. Refer to other creditors balance.
7.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
WITT, Matthew Robert3,3907,8969,5191,767
3,3907,8969,5191,767