Company registration number 10331880 (England and Wales)
PERFORMANCE PREPARATION ACADEMY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
PAGES FOR FILING WITH REGISTRAR
PERFORMANCE PREPARATION ACADEMY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PERFORMANCE PREPARATION ACADEMY LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2025
31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
4
520,973
496,983
Cash at bank and in hand
-
0
837
520,973
497,820
Creditors: amounts falling due within one year
5
(632,037)
(559,267)
Net current liabilities
(111,064)
(61,447)
Creditors: amounts falling due after more than one year
6
-
0
(41,721)
Net liabilities
(111,064)
(103,168)
Reserves
Income and expenditure account
(111,064)
(103,168)
Total members' funds
(111,064)
(103,168)

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the income and expenditure account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 19 June 2026
Mrs L Pieri
Director
Company registration number 10331880 (England and Wales)
PERFORMANCE PREPARATION ACADEMY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 2 -
1
Accounting policies
Company information

Performance Preparation Academy Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 1, Guildford Industrial Estate, Deacon Field, Guildford, GU2 8YT.

1.1
Basis of preparation

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 are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements. The financial statements do not include any adjustments that would result from a withdrawal of the director's support.

Revenue consists of student fees receivable during the year and income from theatrical productions, excluding VAT and trade discounts.

1.3
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
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 balance sheet when the company becomes party to the contractual provisions of the instrument.

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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

PERFORMANCE PREPARATION ACADEMY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price. 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. A m ounts 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.

1.5
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Corporation tax recoverable
125,600
119,547
Other debtors
395,373
377,436
520,973
496,983
PERFORMANCE PREPARATION ACADEMY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 4 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
41,721
50,066
Corporation tax
40,821
93,776
Other creditors
549,495
415,425
632,037
559,267

The company's bankers hold a fixed and floating charge over all assets of the company as security for the loan and overdraft facility.

6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
-
0
41,721

The company's bankers hold a fixed and floating charge over all assets of the company as security for the amounts included in bank loans and overdrafts.

7
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

8
Contingent liabilities

The company has given its bankers an unlimited cross guarantee dated 27 January 2022 for a facility operated across PP Academy Limited and this company. At the balance sheet date the indebtedness covered under the guarantee amounted to £62,892 (2024 £3 25,013).

9
Related party transactions

At the balance sheet date the company owed P P Academy Limited £547,154 (202 4 £409,532).

PP Academy Limited is a company limited by shares, controlled by the director. Ms Louise Pieri is a director of both companies and she is therefore capable of exercising significant influence over the operations of both companies through this position.

At the balance sheet date the director owed £385,106 to the company (202 4 £367,169). Interest was charged on this loan at the official beneficial loan interest rate and it is repayable on demand.

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