Leicester College of Performing Arts Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 03560620 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended

31 July 2015

for

Leicester College of Performing Arts Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTORS:

N J Allen

Mrs A Oliver

REGISTERED OFFICE:

International Arts Centre

Garden Street

Leicester

Leicestershire

LE1 3UA

REGISTERED NUMBER:

03560620 (England and Wales)

ACCOUNTANTS:

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages three to seven) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Leicester College of Performing Arts Ltd for the year ended

31 July 2015 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from

the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Leicester College of Performing Arts Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Leicester College of Performing Arts Ltd and state those matters that we have agreed to state to the Board of Directors of Leicester College of Performing Arts Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Leicester College of Performing Arts Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Leicester College of Performing Arts Ltd. You consider that Leicester College of Performing Arts Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Leicester College of Performing Arts Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

16 March 2016

FIXED ASSETS

Intangible assets

2

-

6,400

Tangible assets

3

25,963

30,261

25,963

36,661

CURRENT ASSETS

Debtors

68,535

51,836

Cash at bank and in hand

17,914

3,482

86,449

55,318

CREDITORS

Amounts falling due within one year

35,652

20,979

NET CURRENT ASSETS

50,797

34,339

TOTAL ASSETS LESS CURRENT LIABILITIES

76,760

71,000

PROVISIONS FOR LIABILITIES

953

1,231

NET ASSETS

75,807

69,769

CAPITAL AND RESERVES

Called up share capital

4

40,000

40,000

Profit and loss account

35,807

29,769

SHAREHOLDERS' FUNDS

75,807

69,769

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 16 March 2016 and were signed on its behalf by:

Mrs A Oliver - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents invoiced sales of goods and services.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery etc

-

33% on reducing balance, 15% on reducing balance and 10% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date where transactions or events have occurred at that date that will result in

an obligation to pay more, or a right to pay less or to receive more tax with the following

exceptions:

Deferred tax assets are recognised only to the extent that the directors consider that it is more

likely than not that there will be suitable taxable profits from which the future reversal of the

underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in

the periods in which timing differences reverse, based on tax rates and laws enacted or

substantively enacted at the balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2014

and 31 July 2015

64,000

AMORTISATION

At 1 August 2014

57,600

Amortisation for year

6,400

At 31 July 2015

64,000

NET BOOK VALUE

At 31 July 2015

-

At 31 July 2014

6,400

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2014

and 31 July 2015

53,753

DEPRECIATION

At 1 August 2014

23,492

Charge for year

4,298

At 31 July 2015

27,790

NET BOOK VALUE

At 31 July 2015

25,963

At 31 July 2014

30,261

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.15

31.7.14

value:

£

£

2

Ordinary

£1

2

2

39,998

Preference shares

£1

39,998

39,998

40,000

40,000

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES.

The following advances and credits to a director subsisted during the years ended 31 July 2015 and

31 July 2014:

31.7.15

31.7.14

£

£

Mrs A Oliver

Balance outstanding at start of year

15,486

15,486

Amounts repaid

-

-

Balance outstanding at end of year

15,486

15,486