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 2016

THE REAL APPRENTICESHIP COMPANY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

463,650

430,538

Current assets

Stocks

14,141

Debtors

258,606

354,624

Cash at bank and in hand

18,761

55,223

277,367

423,988

Creditors: amounts falling due within one year

(233,279)

(321,717)

Net current assets

44,088

102,271

Total assets less current liabilities

507,738

532,809

Creditors: amounts falling due after more than one year

(171,371)

(184,779)

Provisions for liabilities

(22,155)

(17,155)

314,212

330,875

Capital and reserves

Called up share capital

Profit and loss account

314,210

330,873

Shareholders' funds

314,212

330,875

For the financial year ended 30 September 2016 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 19 June 2017

D M Shemilt

R G Shemilt

Director

Company Registration No. 04910891

THE REAL APPRENTICESHIP COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 2 -

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 January 2015).

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 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 October 2015

514,357

Additions

128,312

At 30 September 2016

642,669

Depreciation

At 1 October 2015

83,819

Charge for the year

95,200

At 30 September 2016

179,019

Net book value

At 30 September 2016

463,650

At 30 September 2015

430,538

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £13,409 (2015 - £13,003).

Creditors: amounts falling due after more than one year

2016

2015

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

91,804

111,429

The aggregate amount of creditors for which security has been given amounted to £171,371 (2015 - £184,779).

Share capital

2016

2015

Allotted, called up and fully paid

2 ordinary shares of £1 each

THE REAL APPRENTICESHIP COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 4 -

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

6,967

22,174

6,967

22,174

6,967

22,174

6,967

22,174

This loan was repaid on 30 May 2017