Atlantic Language Training Limited - Period Ending 2020-03-31

Atlantic Language Training Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 6

Atlantic Language Training Limited

Balance Sheet

31 March 2020

	Note	2020 £	2019 £
Current assets
Debtors	5	10,329	12,385
Cash at bank and in hand		11,350	11,065
		21,679	23,450
Creditors: Amounts falling due within one year	6	(2,070)	(3,581)
Net assets		19,609	19,869
Capital and reserves
Called up share capital	7	2	2
Profit and loss account		19,607	19,867
Total equity		19,609	19,869

Atlantic Language Training Limited

Balance Sheet

31 March 2020

For the financial year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 8 March 2021
 

......................................... Mrs D Buse Director

Company Registration Number: 07386831

Atlantic Language Training Limited

Notes to the Financial Statements

Year Ended 31 March 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3-5 Moon Street
Bretonside
Plymouth
Devon
PL4 0AL

These financial statements were authorised for issue by the director on 8 March 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services provided in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

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

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Atlantic Language Training Limited

Notes to the Financial Statements

Year Ended 31 March 2020

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Website	20% straight line

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade, other debtors and creditors and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2019 - 1).

Atlantic Language Training Limited

Notes to the Financial Statements

Year Ended 31 March 2020

4	Tangible assets

	Website £	Total £
Cost or valuation
At 1 April 2019	5,280	5,280
At 31 March 2020	5,280	5,280
Depreciation
At 1 April 2019	5,280	5,280
At 31 March 2020	5,280	5,280
Carrying amount
At 31 March 2020	-	-

5

Debtors

	2020  £	2019  £
Trade debtors	1,537	2,226
Other debtors	8,792	9,992
Prepayments	-	167
	10,329	12,385

6

Creditors

Creditors: amounts falling due within one year

	2020  £	2019  £
Due within one year
Trade creditors	1,570	642
Accrued expenses	500	500
Corporation tax	-	2,439
	2,070	3,581

Atlantic Language Training Limited

Notes to the Financial Statements

Year Ended 31 March 2020

7	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
50 Ordinary A Shares of £0.02 each	50	1	50	1
50 Ordinary B Shares of £0.02 each	50	1	50	1
	100	2	100	2