Skills Training Academy Limited Small abridged accounts

SKILLS TRAINING ACADEMY LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of Skills Training Academy Limited have consented to the preparation of the statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 09104286

Skills Training Academy Limited

Unaudited Abridged Financial Statements

31 March 2017

G W ACCOUNTANTS LIMITED

1 Jesmond Business Court

217 Jesmond Road

Newcastle upon Tyne

NE2 1LA

Skills Training Academy Limited

Abridged Financial Statements

Year ended 31 March 2017

Contents	Page

Director's report	1

Report to the director on the preparation of the unaudited statutory abridged financial statements	2

Statement of income and retained earnings	3

Abridged statement of financial position	4

Notes to the abridged financial statements	5

Skills Training Academy Limited

Director's Report

Year ended 31 March 2017

The director presents his report and the unaudited abridged financial statements of the company for the year ended 31 March 2017 .

Director

The director who served the company during the year was as follows:

Mr M Hewitt

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 22 June 2017 and signed on behalf of the board by:

Mr M Hewitt
Director

Registered office:

Endeavour House

Colmet Court

Queensway South

Team Valley Trading Estate

NE11 0EF

Skills Training Academy Limited

Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of Skills Training Academy Limited

Year ended 31 March 2017

As described on the abridged statement of financial position, the director of the company is responsible for the preparation of the abridged financial statements for the year ended 31 March 2017, which comprise the statement of income and retained earnings, abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

G W ACCOUNTANTS LIMITED

1 Jesmond Business Court 217 Jesmond Road Newcastle upon Tyne NE2 1LA

22 June 2017

Skills Training Academy Limited

Statement of Income and Retained Earnings

Year ended 31 March 2017

	2017	2016
Note	£	£
Gross profit	–	–

Income from shares in group undertakings	79,200	55,360
	--------	--------
Profit before taxation	79,200	55,360

Tax on profit	–	–
	--------	--------
Profit for the financial year and total comprehensive income	79,200	55,360
	--------	--------

Dividends paid and payable	( 79,200)	( 55,360)

Retained earnings at the start of the year	–	–
	--------	--------
Retained earnings at the end of the year	–	–
	--------	--------

All the activities of the company are from continuing operations.

Skills Training Academy Limited

Abridged Statement of Financial Position

31 March 2017

	2017		2016
Note	£	£	£

Fixed assets

Investments	5		1,134,186	1,132,686

Creditors: amounts falling due within one year	–		80,000
	----		--------
Net current liabilities		–	80,000
		------------	------------
Total assets less current liabilities		1,134,186	1,052,686

Creditors: amounts falling due after more than one year	854,186	772,686
	------------	------------
Net assets	280,000	280,000
	------------	------------

Capital and reserves

Called up share capital	280,000	280,000
	---------	---------
Members funds	280,000	280,000
	---------	---------

These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

These abridged financial statements were approved by the board of directors and authorised for issue on 22 June 2017 , and are signed on behalf of the board by:

Mr M Hewitt
Director

Company registration number: 09104286

Skills Training Academy Limited

Notes to the Abridged Financial Statements

Year ended 31 March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Endeavour House, Colmet Court, Queensway South, Team Valley Trading Estate, NE11 0EF.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Long term assets

Long term investments are classified as fixed assets. All fixed assets are stated at cost.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.

Consolidation

The company has taken advantage of the option not to prepare consolidated abridged financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

4. Staff costs

The average number of persons employed by the company during the year, including the director, amounted to Nil (2016: Nil).

5. Investments

	£
Cost
At 1 April 2016	1,132,686
Additions	1,500
	------------
At 31 March 2017	1,134,186
	------------
Impairment
At 1 April 2016 and 31 March 2017	–
	------------
Carrying amount
At 31 March 2017	1,134,186
	------------
At 31 March 2016	1,132,686
	------------

6. Related party transactions

The company was under the control of Mr M Hewitt , director, throughout the current and previous year, due to his ownership of the entire issued share capital. During the period under review the company had the following transactions with related parties,defined by the FRS 102. Included within other creditors falling due within one year is a total amount of nil(2016:£80,000) due to Crossco (1332) Limited, the previous owner of TRN(Train)Ltd. Included within creditors due after more than one year is amount owed to subsidiary undertakings amounting to £854,136(2016:£772,636) due to TRN(Train)Ltd,a company incorporated in the United Kingdom.

7. Transition to FRS 102

These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.

No transitional adjustments were required in equity or profit or loss for the year.