THE_REAL_APPRENTICESHIP_C - Accounts

THE_REAL_APPRENTICESHIP_C - Accounts

THE REAL APPRENTICESHIP COMPANY LIMITED - Company Information

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Company Registration No. 04910891 (England and Wales)
THE REAL APPRENTICESHIP COMPANY LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2015
THE REAL APPRENTICESHIP COMPANY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2015
30 September 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
430,538
39,385
Current assets
Stocks
14,141
17,435
Debtors
354,625
170,223
Cash at bank and in hand
55,223
139,659
423,989
327,317
Creditors: amounts falling due within one year
3
(321,653)
(164,431)
Net current assets
102,336
162,886
Total assets less current liabilities
532,874
202,271
Creditors: amounts falling due after more than one year
4
(184,844)
-
Provisions for liabilities
(17,155)
(7,877)
330,875
194,394
Capital and reserves
Called up share capital
5
2
2
Profit and loss account
330,873
194,392
Shareholders' funds
330,875
194,394
For the financial year ended 30 September 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 22 May 2016
D M Shemilt
R G Shemilt
Director
Director
Company Registration No. 04910891
THE REAL APPRENTICESHIP COMPANY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover

Turnover represents amounts receivable for services net of VAT and trade discounts.

1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
No depreciation
Land and buildings Leasehold
Between 12% and 15% per annum on cost
Plant and machinery
33% per annum on cost
Computer equipment
33% per annum on cost
Fixtures, fittings & equipment
20% per annum on cost

No depreciation is provided in respect of freehold Properties.

Although this accounting policy is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated, in the opinion of the directors non compliance with Companies Act is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

 

1.5
Stock and work in progress

Work in progress is valued at selling price.

1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.  The deferred tax balance has not been discounted.
THE REAL APPRENTICESHIP COMPANY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 October 2014
71,289
Additions
443,068
At 30 September 2015
514,357
Depreciation
At 1 October 2014
31,905
Charge for the year
51,914
At 30 September 2015
83,819
Net book value
At 30 September 2015
430,538
At 30 September 2014
39,385
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £12,939 (2014 - £0).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £184,844 (2014 - £0).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2 ordinary shares of £1 each
2
2
THE REAL APPRENTICESHIP COMPANY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2015
- 4 -
6
Related party relationships and transactions
Advances and credits
Advances and credits granted to the directors during the year are outlined in the table below:
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
D M Shemilt - interest free loan
-
22,939
6,967
-
22,939
6,967
22,939
6,967
-
22,939
6,967

This loan was repaid on 19 May 2016.

 

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