NORTHCROSS_EDUCATION_SERV - Accounts

NORTHCROSS EDUCATION SERVICES LIMITED - Company Information

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Company Registration number 04469720

NORTHCROSS EDUCATION

SERVICES LIMITED

Abbreviated Accounts

For the year ended 30 June 2014

NORTHCROSS EDUCATION SERVICES LIMITED

Financial statements for the year ended 30 June 2014

Contents

Pages

Balance sheet

Notes to the financial statements

2-3

NORTHCROSS EDUCATION SERVICES LIMITED

Abbreviated balance sheet as at 30 June 2014

2014

2013

Notes

Fixed assets

Tangible assets

668

1,042

Current assets

Cash at bank and in hand

1,146

4,658

Creditors:

amounts falling due within one year

(5,614)

(5,556)

Net current liabilities

(4,468)

(898)

Current liabilities less total assets

(3,800)

144

Provision for liabilities

(134)

(208)

(3,934)

(64)

Capital and reserves

Called up share capital

Deficit on profit and loss account

(3,943)

(73)

Shareholder's funds

(3,934)

(64)

For the financial year ended 30 June 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the board of directors on 30 January 2015 and signed on its behalf.

N Milton - Director

Company Registration No: 04469720

The notes on pages 2 to 3 form part of these financial statements.

NORTHCROSS EDUCATION SERVICES LIMITED

Notes to the abbreviated accounts for the year ended 30 June 2014

Accounting policies

Going concern

The financial statements have been prepared on a going concern basis despite the company having net liabilities of £3,934, as the director has indicated his willingness to support the company over the next twelve months.

Basis of accounting

The financial statements are prepared on the historical cost basis of accounting and have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company has taken advantage of the exemption, conferred by Financial Reporting Standard 1, from presenting a cash flow statement as it qualifies as a small company.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax supplied to customers during the year. Income is recognised when services are completed to the extent that the customer has no obligation to pay all or part of the contract sums.

Depreciation of tangible fixed assets

Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost or valuation less estimated residual value of each asset over its estimated useful life. The principal rates in use are:

Equipment, fixtures and fittings

15% on cost

Plant and machinery

33% on cost

Deferred taxation

Deferred tax is provided in respect of the tax effect of all timing differences that have originated but not reversed at the balance sheet date.

A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on a nondiscounted basis, at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pension scheme

The company operates a pension scheme for the benefit of some of its employees. The scheme is a defined contribution scheme, and the contributions are charged against profits as they are paid.

Intangible fixed assets

Goodwill

Cost:

At 1 July 2013

615

Amortisation:

At 1 July 2013

615

At 30 June 2014

615

Net book value:

At 30 June 2014

At 30 June 2013

NORTHCROSS EDUCATION SERVICES LIMITED

Notes to the abbreviated accounts for the year ended 30 June 2014 (continued)

Fixed assets

Intangible

Tangible

fixed

assets

Total

Cost:

At 1 July 2013

615

5,910

6,525

Depreciation:

At 1 July 2013

615

4,868

5,483

Provision for the year

374

At 30 June 2014

615

5,242

5,857

Net book value:

At 30 June 2014

668

At 30 June 2013

1,042

Called-up share capital

2014

2013

2014

2013

Allotted, called up and fully paid

Equity shares:

A ordinary shares of £1 each

B ordinary shares of £1 each

The shares rank pari passu in all aspects.

Controlling party

The company is controlled by the director N Milton.