Accounts filed on 31-03-2016

Accounts filed on 31-03-2016

ACADEMY OF IDEAS LTD - Company Information

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ACADEMY OF IDEAS LTD

Company Registration Number:
03953146 (England and Wales)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01 April 2015

End date: 31 March 2016

ACADEMY OF IDEAS LTD

Abbreviated Balance sheet

As at 31 March 2016


Notes
2016
£
2015
£
Fixed assets
Intangible assets: 2 0 1,500
Tangible assets: 3 0 1,470
Total fixed assets: 0 2,970
Current assets
Stocks: 500 500
Debtors: 127,674 108,143
Cash at bank and in hand: 273,325 343,555
Total current assets: 401,499 452,198
Creditors: amounts falling due within one year: ( 101,570 ) ( 172,781 )
Net current assets (liabilities): 299,929 279,417
Total assets less current liabilities: 299,929 282,387
Creditors: amounts falling due after more than one year: ( 10,000 ) ( 10,000 )
Provision for liabilities: 0 0
Total net assets (liabilities): 289,929 272,387

The notes form part of these financial statements

ACADEMY OF IDEAS LTD

Balance sheet continued

As at 31 March 2016


Notes
2016
£
2015
£
Capital and reserves
Called up share capital: 4 10,300 10,300
Revaluation reserve: 0 0
Profit and loss account: 279,629 262,087
Shareholders funds: 289,929 272,387

For the year ending 31 March 2016 the company was entitled to exemption 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 financial statements were approved by the Board of Directors on 20 December 2016

SIGNED ON BEHALF OF THE BOARD BY:

Name: Claire Fox
Status: Director

The notes form part of these financial statements

ACADEMY OF IDEAS LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements have been prepared under the historical cost convention.

    Turnover policy

    The turnover represents amounts receivable for goods and services net of VAT and trade discounts.

    Tangible fixed assets depreciation policy

    Depreciation is provided on all tangible fixed assets other than freehold land and buildings at rates calculated to write each asset down to its estimated residual value evenly over its expected useful life, as follows: -Computer equipment Over 2 years

    Intangible fixed assets amortisation policy

    Amortisation is calculated at the following rates to write off the cost of an asset, less its residual value, over its estimated useful economic lifetime – annual amortisation of goodwill is 25%.

    Valuation information and policy

    Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and overheads.

ACADEMY OF IDEAS LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 2. Intangible assets

    Total
    Cost £
    01 April 2015: 1,500
    Additions: 0
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    31 March 2016: 1,500
    Amortisation
    01 April 2015: 0
    Provided during the period: 1,500
    On disposals: 0
    Other Adjustments: 0
    31 March 2016: 1,500
    Net book value
    31 March 2016: 0
    31 March 2015: 1,500

ACADEMY OF IDEAS LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 3. Tangible assets

    Total
    Cost £
    01 April 2015: 4,753
    Additions: 0
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    31 March 2016: 4,753
    Depreciation
    01 April 2015: 3,283
    Charge for year: 1,470
    On disposals: 0
    Other adjustments: 0
    31 March 2016: 4,753
    Net book value
    31 March 2016: 0
    31 March 2015: 1,470

ACADEMY OF IDEAS LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 4. Called up share capital

    Allotted, called up and paid

    Previous period
    2015
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 400 25.75 10,300
    Preference shares: 0
    Total share capital (£): 10,300
    Current period
    2016
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 400 25.75 10,300
    Preference shares: 0
    Total share capital (£): 10,300