Company registration number 10311782 (England and Wales)
Connex Education Academy Limited
financial statements
For the year ended 31 October 2024
Connex Education Academy Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 7
Connex Education Academy Limited
Statement of financial position
As at 31 October 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
20,939
30,983
Tangible assets
4
81,611
66,020
102,550
97,003
Current assets
Debtors
5
1,150,199
606,035
Cash at bank and in hand
9,984
2,522
1,160,183
608,557
Creditors: amounts falling due within one year
6
(1,199,548)
(669,987)
Net current liabilities
(39,365)
(61,430)
Total assets less current liabilities
63,185
35,573
Creditors: amounts falling due after more than one year
7
(6,667)
(16,667)
Provisions for liabilities
(20,403)
(16,505)
Net assets
36,115
2,401
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
35,915
2,201
Total equity
36,115
2,401
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 29 July 2025 and are signed on its behalf by:
S Pendergast
Director
Company registration number 10311782 (England and Wales)
Connex Education Academy Limited
Notes to the financial statements
For the year ended 31 October 2024
- 2 -
1
Accounting policies
Company information
Connex Education Academy Limited is a private company limited by shares incorporated in England and Wales. The company's registered number is 10311782. The company's registered address is Unit A Telford Court, Chester Gates Business Park, Chester, Cheshire, CH1 6LT.
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation 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:
Development costs
Evenly over their estimated useful life of 5 years
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
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
33.3% on cost
Computers
33.3% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Connex Education Academy Limited
Notes to the financial statements (continued)
For the year ended 31 October 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.
Connex Education Academy Limited
Notes to the financial statements (continued)
For the year ended 31 October 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.11
Equity dividends are recognised when they become legally payable and are no longer at the discretion of the company.
1.12
Significant judgements and estimates
There are currently no significant judgements and estimates applied by the directors which are considered key to the preparation of the financial statements.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
8
6
Connex Education Academy Limited
Notes to the financial statements (continued)
For the year ended 31 October 2024
- 5 -
3
Intangible fixed assets
Other
£
Cost
At 1 November 2023 and 31 October 2024
50,218
Amortisation and impairment
At 1 November 2023
19,235
Amortisation charged for the year
10,044
At 31 October 2024
29,279
Carrying amount
At 31 October 2024
20,939
At 31 October 2023
30,983
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2023
100,419
Additions
62,728
At 31 October 2024
163,147
Depreciation and impairment
At 1 November 2023
34,399
Depreciation charged in the year
47,137
At 31 October 2024
81,536
Carrying amount
At 31 October 2024
81,611
At 31 October 2023
66,020
Connex Education Academy Limited
Notes to the financial statements (continued)
For the year ended 31 October 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
22,017
12,775
Amounts owed by group undertakings
798,272
528,537
Other debtors
329,910
64,723
1,150,199
606,035
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
14,246
9,475
Amounts owed to group undertakings
1,051,027
615,628
Taxation and social security
66,379
22,074
Other creditors
57,896
12,810
1,199,548
669,987
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
6,667
16,667
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Richard Taylor FCA
Statutory Auditor:
DJH Audit Limited
Date of audit report:
29 July 2025
Connex Education Academy Limited
Notes to the financial statements (continued)
For the year ended 31 October 2024
- 7 -
9
Related Party Disclosures
Group undertakings
During the course of the year, the company recharged costs totalling £164,115 (2023: £52,629) to group undertakings.
Included within debtors at the year end is an amount due from group undertakings of £798,272 (2023 - £528,537).
Included within creditors at the year end is an amount due to group undertakings of £1,051,027 (2023 - £615,628).
10
Parent company
At the year-end the immediate parent company was The Classroom Partnership Limited, a company registered in England and Wales.
At the year-end the ultimate parent company and controlling party was Bluestones Investment Group Limited, a company registered in England and Wales. The results of the company are included within the consolidated financial statements of Bluestones Investment Group Limited, copies of which can be obtained from Companies House. The company's registered office is Unit A Telford Court, Chester Gates Business Park, Chester, Cheshire, CH1 6LT.