REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
for |
PUPIL PROGRESS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
for |
PUPIL PROGRESS LIMITED |
PUPIL PROGRESS LIMITED (REGISTERED NUMBER: 08986421) |
Contents of the Financial Statements |
for the Year Ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PUPIL PROGRESS LIMITED |
Company Information |
for the Year Ended 31 July 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
100 Church Street |
Brighton |
East Sussex |
BN1 1UJ |
PUPIL PROGRESS LIMITED (REGISTERED NUMBER: 08986421) |
Balance Sheet |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
PUPIL PROGRESS LIMITED (REGISTERED NUMBER: 08986421) |
Balance Sheet - continued |
31 July 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
PUPIL PROGRESS LIMITED (REGISTERED NUMBER: 08986421) |
Notes to the Financial Statements |
for the Year Ended 31 July 2024 |
1. | STATUTORY INFORMATION |
Pupil Progress Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery | - |
Computer equipment | - |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
PUPIL PROGRESS LIMITED (REGISTERED NUMBER: 08986421) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
COST |
At 1 August 2023 |
Additions |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Computer |
equipment |
£ |
COST |
At 1 August 2023 |
Reclassification/transfer | ( |
) |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
Reclassification/transfer | ( |
) |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
5. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
Tax |
Prepayments |
PUPIL PROGRESS LIMITED (REGISTERED NUMBER: 08986421) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
5. | DEBTORS - continued |
2024 | 2023 |
£ | £ |
Amounts falling due after more than one year: |
Amounts recoverable on contract |
Aggregate amounts |
Within debtors falling due within one year there is a provision for amounts recoverable on contracts totalling £30,842 (2023: £177,964). This relates to services contracted to be provided within the next accounting period that has yet to be invoiced for. |
Separately, within debtors falling due after more than one year there is also a provision for amounts recoverable on contracts totalling £150,403 (2023: £262,269). This relates to services contracted to be provided by the company in more than one accounting periods time that has yet to be invoiced for. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts (see note 8) |
Other loans (see note 8) |
Hire purchase contracts |
Trade creditors |
Tax |
Social security and other taxes |
Pensions payable | 6,112 | 5,436 |
VAT | 90,140 | 102,897 |
Wage control |
Directors' loan accounts | 1,737 | 722 |
Deferred income |
Accrued expenses |
Deferred services contracted | 30,842 | 177,964 |
Within creditors falling due within one year there is deferred income totalling £721,709 (2023: £381,874). This relates to income received where the corresponding service will be provided within the next period. |
Separately, within creditors due within one year there is also a provision for deferred services contracted totalling £30,842 (2023: £177,964). This relates to services contracted to be provided within the next period that has yet to be invoiced for. |
Additionally, within creditors falling due within one year, there is a provision for 12 monthly corporation tax repayments of £2,205, totalling £26,462 a year. This is in relation to the repayment of R&D tax credits claimed in 2021 and 2022 in error. No interest is being charged by HMRC with the total amount to be repaid over 5 years being £132,310. |
PUPIL PROGRESS LIMITED (REGISTERED NUMBER: 08986421) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans (see note 8) |
Other loans (see note 8) |
Hire purchase contracts |
Tax |
Deferred income |
Deferred services contracted | 150,403 | 262,269 |
Within creditors falling due after more than one year there is deferred income totalling £629,298 (2023: £292,503). This relates to income received where the corresponding service will be provided in more than one accounting periods time. |
Separately, within creditors due after more than one year there is also a provision for deferred services contracted totalling £150,403 (2023: £262,269). This relates to services contracted to be provided in more than one accounting periods time that has yet to be invoiced for. |
Additionally, within creditors falling due after more than one year, there is a provision for 46 monthly corporation tax repayments of £2,205, totalling £101,438. This is in relation to the repayment of R&D tax credits claimed in 2021 and 2022 in error. No interest is being charged by HMRC with the total amount to be repaid over 5 years being £132,310. |
8. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Other loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Other loans - 1-2 years | - |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Due to the adverse affects of the coronavirus, the company received a bounce back loan during the 2021 period of £50,000, with interest charged at 2.5% per annum. |
Interest and capital repayments are due over 60 consecutive months with repayments totalling £53,176 inclusive of £3,176 of interest. |
PUPIL PROGRESS LIMITED (REGISTERED NUMBER: 08986421) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
9. | RELATED PARTY DISCLOSURES |
In the period ended July 2022, a person with significant control provided an unsecured loan of £100,000 at 8% annual interest for 3 years. A total of £124,110, including £ £24,110 of interest is due for repayment upon its maturity date of 31 January 2025. |
At the period end, a total of £20,077 (2023: £12,077) of interest had accrued and the combined balance stood at £120,077 (2023: £112,077). |
The parties traded on normal commercial terms. |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |