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

REGISTERED NUMBER: 07803912 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2019

for

Exclusive Education Ltd

Page

Company Information

1

Income Statement

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mrs Laura Knowles

Mrs Elizabeth Crabtree

REGISTERED OFFICE:

Unit 7

Webster Court

Carina Park, Westbrook

Warrington

WA5 8WD

REGISTERED NUMBER:

07803912 (England and Wales)

ACCOUNTANTS:

ma2 Limited

Chartered Accountants

5 Crescent East

Thornton Cleveleys

Lancashire

FY5 3LJ

TURNOVER

3,022,264

2,612,039

Cost of sales

2,100,670

1,774,059

GROSS PROFIT

921,594

837,980

Administrative expenses

543,362

423,670

OPERATING PROFIT

4

378,232

414,310

Interest receivable and similar income

177

57

378,409

414,367

Interest payable and similar expenses

4,226

4,226

PROFIT BEFORE TAXATION

374,183

410,141

Tax on profit

72,822

79,107

PROFIT FOR THE FINANCIAL YEAR

301,361

331,034

FIXED ASSETS

Tangible assets

5

48,685

58,076

CURRENT ASSETS

Debtors

6

229,992

151,094

Cash at bank

362,853

391,974

592,845

543,068

CREDITORS

Amounts falling due within one year

7

308,195

235,131

NET CURRENT ASSETS

284,650

307,937

TOTAL ASSETS LESS CURRENT LIABILITIES

333,335

366,013

CREDITORS

Amounts falling due after more than one year

8

36,835

46,867

NET ASSETS

296,500

319,146

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

296,400

319,046

SHAREHOLDERS' FUNDS

296,500

319,146

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2019 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors on 14 November 2019 and were signed on its behalf by:

Mrs Elizabeth Crabtree - Director

Mrs Laura Knowles - Director

1.	STATUTORY INFORMATION

Exclusive 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.

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.

Turnover

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

Tangible fixed assets

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

Fixtures and equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of

the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2018 - 10 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2019

2018

£

£

Depreciation - owned assets

17,415

17,216

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

equipment

vehicles

equipment

Totals

£

£

£

£

COST

At 1 September 2018

30,407

89,733

12,669

132,809

Additions

4,715

-

3,309

8,024

At 31 August 2019

35,122

89,733

15,978

140,833

DEPRECIATION

At 1 September 2018

15,223

49,774

9,736

74,733

Charge for year

5,347

9,990

2,078

17,415

At 31 August 2019

20,570

59,764

11,814

92,148

NET BOOK VALUE

At 31 August 2019

14,552

29,969

4,164

48,685

At 31 August 2018

15,184

39,959

2,933

58,076

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

206,984

142,565

Prepayments and accrued income

23,008

8,529

229,992

151,094

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

10,032

10,032

Trade creditors

89,320

47,486

Tax

72,862

79,107

VAT

118,999

96,504

Other creditors

10,701

827

Accrued expenses

6,281

1,175

308,195

235,131

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

36,835

46,867

9.	RELATED PARTY DISCLOSURES

The company was under the control of its directors and equal shareholders, Mrs E Crabtree and Mrs L

Knowles, during the year.