White Horse Training Limited - Accounts to registrar (filleted) - small 23.1.2
White Horse Training Limited - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| WHITE HORSE TRAINING LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 30 SEPTEMBER 2022 |
| WHITE HORSE TRAINING LIMITED (REGISTERED NUMBER: 01381199) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
| Page |
| Statement of Financial Position | 1 |
| Notes to the Financial Statements | 2 | to | 5 |
| WHITE HORSE TRAINING LIMITED (REGISTERED NUMBER: 01381199) |
| STATEMENT OF FINANCIAL POSITION |
| 30 SEPTEMBER 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 3 |
| Property, plant and equipment | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| WHITE HORSE TRAINING LIMITED (REGISTERED NUMBER: 01381199) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the total amounts derived from the provision of training services during the year , excluding Value Added Tax. |
| Website amortisation |
| Website costs are being amortised at 20% per annum on a straight line basis. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| Financial instruments |
| Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
| Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 2. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| WHITE HORSE TRAINING LIMITED (REGISTERED NUMBER: 01381199) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
| 3. | INTANGIBLE FIXED ASSETS |
| Website |
| £ |
| COST |
| At 1 October 2021 |
| Additions |
| Disposals | ( |
) |
| At 30 September 2022 |
| AMORTISATION |
| At 1 October 2021 |
| Amortisation for year |
| Eliminated on disposal | ( |
) |
| At 30 September 2022 |
| NET BOOK VALUE |
| At 30 September 2022 |
| At 30 September 2021 |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2021 |
| Additions |
| At 30 September 2022 |
| DEPRECIATION |
| At 1 October 2021 |
| Charge for year |
| At 30 September 2022 |
| NET BOOK VALUE |
| At 30 September 2022 |
| At 30 September 2021 |
| 5. | DEBTORS |
| 2022 | 2021 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| WHITE HORSE TRAINING LIMITED (REGISTERED NUMBER: 01381199) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | FINANCIAL INSTRUMENTS |
| The Company's financial instruments may be analysed as follows: |
| 2022 | 2021 |
| £ | £ |
| Financial assets |
| Financial assets measured at fair value through profit or loss | 8,707 | 8,292 |
| Financial assets measured at amortised cost | 242,125 | 256,875 |
| 250,832 | 265,167 |
| 2022 | 2021 |
| £ |
| Financial liabilities |
| Financial liabilities measured at fair value through profit or loss | - | - |
| Financial liabilities measured at amortised cost | 20,673 | 18,907 |
| 20,673 | 18,907 |
| Financial assets measured at amortised cost comprise of cash and bank balances, trade debtors and other debtors. |
| Financial assets measured at fair value comprise of long term other debtors. |
| Financial liabilities measured at amortised cost comprise of trade creditors, tax, and other creditors. |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary Shares | 1 | 21 | 21 |
| 9. | RELATED PARTY DISCLOSURES |
| The company was initially founded jointly by a group of independent accounting firms to provide the member firms with continual professional development courses, and student training courses for professional examinations. The directors of White Horse Training Limited are mostly representatives of the member firms and as such meet the definition of a related party for the purpose of the Companies Act. Each member firm purchases training courses from the company, but all fees charged are at a normal commercial rate. The company also pays certain member firms, at a significantly discounted rate, for ad hoc services supplied by their representative director. |
| WHITE HORSE TRAINING LIMITED (REGISTERED NUMBER: 01381199) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
| 10. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by the board of directors, made up mostly from representatives of the member firms. |