ACCOUNTS - Final Accounts

ACCOUNTS - Final Accounts

MIDDLESEX GLOBAL ACADEMY LIMITED - Company Information

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Caseware UK (AP4) 2020.0.247 2020.0.247 2019-12-312019-12-31false2019-01-01No description of principal activity00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11200539 2019-01-01 2019-12-31 11200539 2018-02-12 2018-12-31 11200539 2019-12-31 11200539 2018-12-31 11200539 2018-02-12 11200539 c:PriorPeriodIncreaseDecrease 2019-01-01 2019-12-31 11200539 c:RestatedAmount 2018-12-31 11200539 1 2019-01-01 2019-12-31 11200539 d:Director2 2019-01-01 2019-12-31 11200539 d:Director3 2019-01-01 2019-12-31 11200539 d:RegisteredOffice 2019-01-01 2019-12-31 11200539 c:CurrentFinancialInstruments 2019-12-31 11200539 c:CurrentFinancialInstruments 2018-12-31 11200539 c:CurrentFinancialInstruments c:WithinOneYear 2019-12-31 11200539 c:CurrentFinancialInstruments c:WithinOneYear 2018-12-31 11200539 c:ShareCapital 2019-12-31 11200539 c:ShareCapital 2018-12-31 11200539 c:ShareCapital 2018-02-12 11200539 c:RetainedEarningsAccumulatedLosses 2019-01-01 2019-12-31 11200539 c:RetainedEarningsAccumulatedLosses 2019-12-31 11200539 c:RetainedEarningsAccumulatedLosses c:PriorPeriodIncreaseDecrease 2019-01-01 2019-12-31 11200539 c:RetainedEarningsAccumulatedLosses 2018-02-12 2018-12-31 11200539 c:RetainedEarningsAccumulatedLosses 2018-12-31 11200539 c:RetainedEarningsAccumulatedLosses c:RestatedAmount 2018-12-31 11200539 c:RetainedEarningsAccumulatedLosses 2018-02-12 11200539 d:FRS102 2019-01-01 2019-12-31 11200539 d:Audited 2019-01-01 2019-12-31 11200539 d:FullAccounts 2019-01-01 2019-12-31 11200539 d:PrivateLimitedCompanyLtd 2019-01-01 2019-12-31 11200539 d:SmallCompaniesRegimeForAccounts 2019-01-01 2019-12-31 iso4217:GBP xbrli:pure
Registered number: 11200539 (England and Wales)














MIDDLESEX GLOBAL ACADEMY LIMITED

(FORMERLY TENDULKAR MIDDLESEX GLOBAL ACADEMY LIMITED)

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

 
MIDDLESEX GLOBAL ACADEMY LIMITED
 

 
COMPANY INFORMATION


Directors
E R Villiers 
Middlesex County Cricket Club Limited 




Registered number
11200539



Registered office
New Penderel House
4th Floor

283-288 High Holborn

London

United Kingdom

WC1V 7HP




Independent auditors
ZEDRA Corporate Reporting Services (UK) Limited





 
MIDDLESEX GLOBAL ACADEMY LIMITED
 


CONTENTS



Page
Balance Sheet
 
1
Statement of Changes in Equity
 
2
Notes to the Financial Statements
 
3 - 7


 
MIDDLESEX GLOBAL ACADEMY LIMITED
REGISTERED NUMBER:11200539


BALANCE SHEET
AS AT 31 DECEMBER 2019

As restated
2019
2018
Note
£
£

Fixed assets
  

Investments
 4 
530
-

  
530
-

Current assets
  

Debtors: amounts falling due within one year
 5 
13,996
112

  
13,996
112

Creditors: amounts falling due within one year
 6 
(12,498)
(15,201)

Net current assets/(liabilities)
  
 
 
1,498
 
 
(15,089)

Total assets less current liabilities
  
2,028
(15,089)

  

Net assets/(liabilities)
  
2,028
(15,089)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
2,026
(15,091)

  
2,028
(15,089)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




E R Villiers
Director

Date: 9 September 2021

The notes on pages 3 to 7 form part of these financial statements.
Page 1

 
MIDDLESEX GLOBAL ACADEMY LIMITED
 


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2019


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 February 2018
2
-
2


Comprehensive income for the period

Loss for the period (as restated)
-
(15,091)
(15,091)



At 1 January 2019 (as previously stated)
2
(10,716)
(10,714)

Prior year adjustment (note 7)
-
(4,375)
(4,375)


At 1 January 2019 (as restated)
2
(15,091)
(15,089)


Comprehensive income for the year

Profit for the year
-
17,117
17,117


At 31 December 2019
2
2,026
2,028


The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
MIDDLESEX GLOBAL ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The previous reporting period was a short period of 10 months and therefore the financial statements are not entirely comparable for this reason. 

The following principal accounting policies have been applied:

  
1.2

Going concern

On 11 March 2020, the World Health Organisation (“WHO”) declared a pandemic in relation to Coronavirus disease (“COVID-19”), see note 8. As a result, Middlesex Global Academy Limited was unable to run any cricket camps during the year ended 31 December 2020. However, the Company has no ongoing financial commitments or costs and as a result has been able to continue on a dormant basis. In 2021, with the lifting of restrictions, the Company has resumed trading. 
Middlesex Global Academy Limited has received written confirmation from its parent company, Middlesex County Cricket Club Limited, that it will continue to provide financial support for a period of at least 12 months from the date of signing these financial statements. For this reason, the directors continue to adopt the going concern basis in preparing the financial statements.

 
1.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of turnover can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
MIDDLESEX GLOBAL ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019

1.Accounting policies (continued)

 
1.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
1.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Amounts owed by group undertakings are intercompany loans measured at cost. These loans are unsecured, interest free and repayable on demand.

  
1.6

Creditors

Short term creditors are measured at the transaction price. Amounts owed to group undertakings are intercompany loans measured at cost. These loans are unsecured, interest free and repayable on demand.

 
1.7

Joint ventures

Investments in joint ventures are held at cost less impairment.


2.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2019 was unqualified.

The audit report was signed on 9 September 2021 by Dominic King ACA (Senior Statutory Auditor) on behalf of ZEDRA Corporate Reporting Services (UK) Limited.


3.


Employees

There were no employees during the year (2018: None). 

Page 4

 
MIDDLESEX GLOBAL ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019

4.


Fixed asset investments





Investment in joint ventures

£



Cost


Additions
530



At 31 December 2019
530




Page 5

 
MIDDLESEX GLOBAL ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019

5.


Debtors

As restated
2019
2018
£
£


Amounts owed by group undertakings
12,394
-

Other debtors
1,490
-

Prepayments and accrued income
112
112

13,996
112



6.


Creditors: Amounts falling due within one year

As restated
2019
2018
£
£

Amounts owed to group undertakings
-
4,351

Corporation tax
698
-

Accruals and deferred income
11,800
10,850

12,498
15,201



7.


Prior year adjustment

During the year, the directors became aware of administrative expenditure relating to the prior year which had not been recognised, resulting in the understatement of administrative expenses and creditors and the overstatement of debtors. A prior year adjustment has been made to the 2018 comparatives to increase administrative expenses by £4,375, increase amounts owed to group undertakings by £4,351 and decrease amounts owed by group undertakings by £24. 
This has increased the retained deficit brought forward is £4,375.


8.


Controlling party

Middlesex County Cricket Club Limited is the controlling party of the Company. The parent company and the group are eligible for the consolidation exemption in accordance with section 399 of Companies Act 2006. The registered office of the parent company is Lords Cricket Ground, St. Johns Wood Road, London, United Kingdom, NW8 8QN.

Page 6

 
MIDDLESEX GLOBAL ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019

9.


Post balance sheet events

On 11 March 2020, the World Health Organisation (“WHO”) declared a pandemic in relation to Coronavirus disease (“COVID-19”). The outbreak and unprecedented spread of the Coronavirus across the globe has had a profound impact on the local and global markets in a short space of time, and is expected to continue to shape the economic landscape for the immediate future. The Directors continue to closely monitor the impact of the unfolding events in order to respond swiftly to any consequential implications on the business. This was a non-adjusting event. 
The financial statements for the year ended 31 December 2019 were not approved until September 2021, incurring late filing penalties of £3,260. This was a non-adjusting event. 
There were no adjusting or other non-adjusting events occurring between the end of the reporting period and the date these financial statements were approved. 

 
Page 7