Curtis School of Dance Limited - Limited company accounts 11.6

REGISTERED NUMBER: 04739152 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2014

FOR

CURTIS SCHOOL OF DANCE LIMITED

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

Mrs D M Curtis

G L Curtis

SECRETARY:

G L Curtis

REGISTERED OFFICE:

5 Laxton Way

Peasedown St John

Bath

BA2 8TA

REGISTERED NUMBER:

04739152 (England and Wales)

ACCOUNTANTS:

John Davis and Co Accountants Ltd

48 The Causeway

Chippenham

Wiltshire

SN15 3DD

The directors present their report with the financial statements of the company for the year ended 31 July 2014.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Dance School.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 August 2013 to the date of this report.

Mrs D M Curtis

G L Curtis

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

G L Curtis - Secretary

25 February 2015

TURNOVER

50,040

42,668

Cost of sales

1,763

3,022

GROSS PROFIT

48,277

39,646

Administrative expenses

48,765

43,598

OPERATING LOSS and

LOSS ON ORDINARY ACTIVITIES
BEFORE TAXATION

2

(488

)

(3,952

)

Tax on loss on ordinary activities

3

-

LOSS FOR THE FINANCIAL YEAR

(488

)

(3,952

)

FIXED ASSETS

Intangible assets

4

3,200

-

Tangible assets

5

615

880

3,815

880

CURRENT ASSETS

Stocks

4,800

5,000

Debtors

6

365

691

Cash at bank

790

2,202

5,955

7,893

CREDITORS

Amounts falling due within one year

7

31,967

30,482

NET CURRENT LIABILITIES

(26,012

)

(22,589

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(22,197

)

(21,709

)

CAPITAL AND RESERVES

Called up share capital

8

2

Profit and loss account

9

(22,199

)

(21,711

)

SHAREHOLDERS' FUNDS

(22,197

)

(21,709

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2014 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 25 February 2015 and were signed on its behalf
by:

Mrs D M Curtis - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

2.	OPERATING LOSS

The operating loss is stated after charging:

2014

2013

£

Depreciation - owned assets

265

Goodwill amortisation

800

4,000

Directors' remuneration and other benefits etc

7,962

8,556

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended 31 July 2014 nor for the year

ended 31 July 2013.

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2013

40,000

Additions

4,000

At 31 July 2014

44,000

AMORTISATION

At 1 August 2013

40,000

Charge for year

800

At 31 July 2014

40,800

NET BOOK VALUE

At 31 July 2014

3,200

At 31 July 2013

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 August 2013

and 31 July 2014

7,041

DEPRECIATION

At 1 August 2013

6,161

Charge for year

265

At 31 July 2014

6,426

NET BOOK VALUE

At 31 July 2014

615

At 31 July 2013

880

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2014

2013

£

Trade debtors

-

326

Other debtors

365

691

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2014

2013

£

Taxation and social security

-

33

Other creditors

31,967

30,449

31,967

30,482

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

2

Ordinary

£1

2

9.

RESERVES

Profit

and loss

account

£

At 1 August 2013

(21,711

)

Deficit for the year

(488

)

At 31 July 2014

(22,199

)