YMG Education Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07548150 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2022

for

YMG Education Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Ms Y M Gandy

Ms L E Maisonneuve

REGISTERED OFFICE:

11 Main Road

Goostrey

Crewe

Cheshire

CW4 8NH

REGISTERED NUMBER:

07548150 (England and Wales)

ACCOUNTANTS:

Hammond McNulty LLP

Bank House

Market Square

Congleton

Cheshire

CW12 1ET

FIXED ASSETS

Intangible assets

4

1,904

2,539

Tangible assets

5

2,261

1,107

4,165

3,646

CURRENT ASSETS

Debtors

82,414

40,004

Cash at bank and in hand

63,490

102,663

145,904

142,667

CREDITORS

Amounts falling due within one year

62,035

79,460

NET CURRENT ASSETS

83,869

63,207

TOTAL ASSETS LESS CURRENT LIABILITIES

88,034

66,853

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

87,934

66,753

SHAREHOLDERS' FUNDS

88,034

66,853

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31st March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 22nd December 2022 and were signed on its behalf by:

Ms Y M Gandy - Director

1.	STATUTORY INFORMATION

YMG Education Limited 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.

Going Concern

The directors have considered the potential impact of COVID-19 on the principal activities of the business and they believe that they have sufficient resources in place to operate for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Computer equipment

-

33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors and directors loans.

Directors loans (being repayable on demand ) and trade debtors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and Retained Earnings.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2021

and 31st March 2022

20,060

AMORTISATION

At 1st April 2021

17,521

Amortisation for year

635

At 31st March 2022

18,156

NET BOOK VALUE

At 31st March 2022

1,904

At 31st March 2021

2,539

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2021

6,263

Additions

2,472

At 31st March 2022

8,735

DEPRECIATION

At 1st April 2021

5,156

Charge for year

1,318

At 31st March 2022

6,474

NET BOOK VALUE

At 31st March 2022

2,261

At 31st March 2021

1,107

6.	ULTIMATE CONTROLLING PARTY

Ms Y Gandy and Ms L Maisonneuve, the directors, control the company by virtue of holding 100% of the issued ordinary share capital.