Nextgen Education Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07943505 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2019

FOR

NEXTGEN EDUCATION LTD

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

DIRECTOR:

Mrs L Close

SECRETARY:

Vistra Cosec Limited (Formerly Jordan Cosec Limited)

REGISTERED OFFICE:

Suite 1, 3rd Floor

11-12 St James's Square

London

SW1Y 4LB

REGISTERED NUMBER:

07943505 (England and Wales)

ACCOUNTANTS:

Vistra Accounting Services

First Floor, Templeback

10 Temple back

Bristol

BS1 6FL

FIXED ASSETS

Investments

3

63,387

63,387

CURRENT ASSETS

Debtors

4

3,136

3,147

CREDITORS

Amounts falling due within one year

5

(97,150

)

(92,709

)

NET CURRENT LIABILITIES

(94,014

)

(89,562

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(30,627

)

(26,175

)

CAPITAL AND RESERVES

Called up share capital

6

50

50

Retained earnings

(30,677

)

(26,225

)

SHAREHOLDERS' FUNDS

(30,627

)

(26,175

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the director on 28 November 2019 and were signed by:

Mrs L Close - Director

1.	STATUTORY INFORMATION

Nextgen Education Ltd is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Investments in associates

Investments in associated undertakings are stated at purchase cost of acquisition, including any incidental cost of acquisition.

Where, in the opinion of the directors, there has been a diminution in the value of the investments, appropriate provisions are

made and charged to the profit and loss account

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial

Instruments Issues' of FRS102 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.

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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered

into.

Basic financial liabilities

Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction

price.

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 initially recognised at transaction price.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that

it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or

substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange

differences are taken into account in arriving at the operating result.

Going concern

The financial statements have been prepared on a going concern basis, notwithstanding net liabilities of £30,627. The director

has received assurances from the shareholder that it will not recall amounts owing for a period of at least 12 months from the

date of these accounts. As a result, the director considers that the use of the going concern basis of accounting is appropriate.

3.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 March 2018

and 28 February 2019

63,387

NET BOOK VALUE

At 28 February 2019

63,387

At 28 February 2018

63,387

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/19

28/2/18

£

£

Prepayments

3,136

3,147

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/19

28/2/18

£

£

Trade creditors

3,288

3,318

Shareholder's current account

92,962

88,491

Accrued expenses

900

900

97,150

92,709

The amount owed to the shareholder is unsecured, interest free and repayable on demand.

6.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

28/2/19

28/2/18

value:

£

£

50

Ordinary

£1

50

50