Enterprise Educators UK Accounts

1

General information

Its registered number is: 07267152

Its registered office is:

Going concern

2

Accounting policies

Turnover

Generally turnover is recognised when the amount of the revenue can be measured reliably and it is
probable that the economic benefits associated with the transaction will flow to the company. Income arising from annual conference and other events is recognised in the financial statements when the event occurs.

Income arising from sponsorship of events is recognised in the financial statements when the relevant
event occurs.

Direct costs

Costs arising from the annual conference and other events are recognised in the financial statements
when the event occurs.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from the surplus as reported in the income and expenditure account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in the income and expenditure account, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Investments

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Foreign currencies

Financial instruments

Basic financial assets, including trade and other receivables and cash and bank balances, are recognised and carried forward at transaction price. Financial assets are derecognised when:

(a) The contractual rights to the cash flows from the asset expire or are settled;

(b) Substantially all the risks and rewards of the ownership of the asset are transferred to another party; or

(c) Control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities, including trade and other payables, and loans from third parties are initially recognised and carried forward at transaction price.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

The company has only financial assets and financial liabilities of a kind that qualify as a basic financial instruments. Basic financial instruments are recognised initially at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate method.

Group accounts exemption

The company is a parent undertaking subject to the small companies regime. The company and its subsidiary undertaking comprise a small group. The company has therefor taken advantage of the option provided by Section 398 of the companies Act 2006 not to prepare group accounts. The financial
statements therefor present information in respect of the company as an individual entity.

Effects of the COVID-19 pandemic on the company's financial statements

The directors have carefully considered the potential impact of the COVID-19 pandemic on the finances of the company. Having reviewed the activities of the company and its assets and liabilities the director does not consider that there is any reason to make any adjustment to the assets and liabilities of the company as shown in its financial statements for the year ended 31 March 2021.

The directors do not consider that the pandemic causes a serious threat to the ability of the company to continue as a going concern for the foreseeable future.

Provisions

3

Employees

2021

2020

Number

Number

The average monthly number of employees (including directors) during the year was:

4

Investments

Investment in Subsidiaries

Total

£

£

Cost or valuation

At 1 April 2020

At 31 March 2021

Provisions/Impairment

Net book values

At 31 March 2021

At 31 March 2020

5

Debtors

2021

2020

£

£

Trade debtors

Prepayments and accrued income

6

Creditors:

amounts falling due within one year

2021

2020

£

£

Corporation tax

Other creditors

Accruals and deferred income

7

Reserves