Education_Lincs_Limited_30_Sep_2021_companies_house_set_of_accounts.html
Education_Lincs_Limited_30_Sep_2021_companies_house_set_of_accounts.html
Company registration number:
Statement of Financial Position
| 2021 | 2020 | ||||
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| Note | £ | £ | |||
| Fixed assets | |||||
| Tangible assets | 5 |
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| Current assets | |||||
| Stocks |
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| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: amounts falling due within one year | 7 |
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| Net current assets/(liabilities) |
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| Total assets less current liabilities | 276,863 | 244,459 | |||
| Creditors: amounts falling due after more than one year | 8 |
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| Provisions for liabilities |
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| Profit and loss account |
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| Shareholders funds |
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For the year ending 30 September 2021 , 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 financial statements for the year in question in accordance with section 476; The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 November 2021 , and are signed on behalf of the board by:
| Director |
Company registration number:
03640750
Notes to the Financial Statements
Year ended 30 September 2021
1 General information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is The Cottage, , 191 Humberston Avenue , Humberston, Grimsby , North East Lincolnshire , DN36 4SZ , United Kingdom.
2 Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.
3 Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The financial statements are prepared in sterling, which is the functional currency of the company.
Turnover
Current tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
| Motor vehicles | |
| Plant and machinery | |
| Office equipment | |
| Fixtures and fittings |
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.
Defined contribution pension plan
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4 Average number of employees
The average number of persons employed by the company during the year was 8 (2020: 8 ).
5 Tangible assets
| Land and buildings | Plant and machinery etc. | Total | ||||
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| £ | £ | £ | ||||
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| Additions | - |
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| Disposals | - |
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| Depreciation | ||||||
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| Charge | - |
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| Disposals | - |
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| At 30 September 2020 |
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6 Debtors
| 2021 | 2020 | |||
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| £ | £ | |||
| Trade debtors |
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| Other debtors |
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7 Creditors: amounts falling due within one year
| 2021 | 2020 | |||
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| £ | £ | |||
| Bank loans and overdrafts |
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| Trade creditors |
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| Taxation and social security |
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| Other creditors |
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8 Creditors: amounts falling due after more than one year
| 2021 | 2020 | |||
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| £ | £ | |||
| Bank loans and overdrafts |
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| Other creditors |
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