The Teaching Executives Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05813274 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

FOR

THE TEACHING EXECUTIVES LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S Morris-Jones

SECRETARY:

Mrs V Morris-Jones

REGISTERED OFFICE:

Riverside Innovation Centre

Castle Drive

Chester

CH1 1SL

REGISTERED NUMBER:

05813274 (England and Wales)

ACCOUNTANTS:

Wyatt, Morris, Golland Ltd

Park House

200 Drake Street

Rochdale

Lancashire

OL16 1PJ

CURRENT ASSETS

Debtors

130,668

98,388

Cash at bank

59,544

81,109

190,212

179,497

CREDITORS

Amounts falling due within one year

140,991

128,890

NET CURRENT ASSETS

49,221

50,607

TOTAL ASSETS LESS CURRENT LIABILITIES

49,221

50,607

CREDITORS

Amounts falling due after more than one year

48,340

50,000

NET ASSETS

881

607

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

781

507

SHAREHOLDERS' FUNDS

881

607

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 August 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 August 2022 and were signed by:

S Morris-Jones - Director

1.	STATUTORY INFORMATION

The Teaching Executives 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Office equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Government grants - covid 19

Government grants are recognised when there is reasonable assurance that the company will comply with the conditions attaching to the grant and the grant will be received.

Following the outbreak of the Covid-19 Pandemic the company furloughed members of staff and took advantage of the government job retention scheme. Grant income is accrued for in the period matching the period the wages were due for.

In addition the company applied under the Coronavirus Business Interruption Loan Scheme and received a bank loan. For the first 12 months the government will cover the administration charge and interest. The company has not included a charge for this amount which is classified as government assistance as the amount would not be material to the accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2020 - 39 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2020

and 31 August 2021

26,815

DEPRECIATION

At 1 September 2020

and 31 August 2021

26,815

NET BOOK VALUE

At 31 August 2021

-

At 31 August 2020

-

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2021 and 31 August 2020:

2021

2020

£

£

S Morris-Jones

Balance outstanding at start of year

71,160

42,339

Amounts advanced

67,791

71,160

Amounts repaid

(46,661

)

(42,339

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

92,290

71,160

The director was charged interest of £1,920 during the year on the outstanding loan balance.