FIRST TIME EDUCATION & RECRUITMENT LTD

FIRST TIME EDUCATION & RECRUITMENT LTD - Company Information

2020-04-012021-03-312021-03-31false11259969FIRST TIME EDUCATION & RECRUITMENT 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(formerly ACADEMY 1 SPORTS COLLEGE WEST LTD)

Registered Number
11259969
(England and Wales)

Unaudited Financial Statements for the Year Ended
31 March 2021

FIRST TIME EDUCATION & RECRUITMENT LTD

Company Information
for the year from 1 April 2020 to 31 March 2021


Directors	BECKHAM, Stacey John
	VAUGHAN, Paul Alan
	WALDOCK, Robert Iain


Registered Address	The Old Granary
	Dunton Road
	Laindon
	SS15 4DB


Registered Number	11259969 (England and Wales)

FIRST TIME EDUCATION & RECRUITMENT LTD

Balance Sheet as at
31 March 2021

	Notes	2021		2020
		£	£	£	£
Current assets
Debtors	5	28,358		55,000
Cash at bank and on hand		65,609		46,788
		93,967		101,788
Creditors amounts falling due within one year	6	(12,862)		(176,028)
Net current assets (liabilities)			81,105		(74,240)
Total assets less current liabilities			81,105		(74,240)
Creditors amounts falling due after one year	7		(49,113)		-
Accruals and deferred income			(2,670)		-
Net assets			29,322		(74,240)
Capital and reserves
Called up share capital			100		100
Profit and loss account			29,222		(74,340)
Shareholders' funds			29,322		(74,240)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 29 March 2022, and are signed on its behalf by:

VAUGHAN, Paul Alan
Director
Registered Company No. 11259969

FIRST TIME EDUCATION & RECRUITMENT LTD

Notes to the Financial Statements
for the year ended 31 March 2021

1.	STATUTORY INFORMATION
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	COMPLIANCE WITH APPLICABLE REPORTING FRAMEWORK
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	ACCOUNTING POLICIES

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

4.	EMPLOYEE INFORMATION


		2021		2020
	Average number of employees during the year	1		3

5.	DEBTORS

	2021	2020
	£	£
Trade debtors / trade receivables	-	55,000
Other debtors	28,358	-
Total	28,358	55,000


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

6.	CREDITORS WITHIN ONE YEAR

	2021	2020
	£	£
Trade creditors / trade payables	-	69,405
Bank borrowings and overdrafts	887	-
Amounts owed to related parties	-	91,012
Taxation and social security	11,975	9,734
Other creditors	-	5,877
Total	12,862	176,028


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

7.	CREDITORS AFTER ONE YEAR

	2021	2020
	£	£
Bank borrowings and overdrafts	49,113	-
Total	49,113	-


	Long term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.