Central Park Academy Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07312819 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

FOR

CENTRAL PARK ACADEMY LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

I F Lenagan

W Joyce

SECRETARY:

D J Moore

REGISTERED OFFICE:

Central Park

Montrose Avenue

Pemberton

Wigan

Lancashire

WN5 9XL

REGISTERED NUMBER:

07312819 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Tangible assets

4

47,609

72,016

CURRENT ASSETS

Debtors

5

20,217

138,396

Cash at bank and in hand

7,368

8,948

27,585

147,344

CREDITORS

Amounts falling due within one year

6

245,480

320,131

NET CURRENT LIABILITIES

(217,895

)

(172,787

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(170,286

)

(100,771

)

RESERVES

Income and expenditure account

(170,286

)

(100,771

)

(170,286

)

(100,771

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 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 surplus or deficit 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 25 April 2018 and were signed on its behalf by:

W Joyce - Director

1.	STATUTORY INFORMATION

Central Park Academy Limited is a private company, limited by guarantee , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The company is dependent on the financial and management support of its directors and associated undertaking

Wigan Rugby League Club Limited, both of which have confirmed their intention to support the business for the

foreseeable future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable in respect of rentals and

services provided, excluding value added tax.

Turnover generated from gym membership income is recognised on a straight line basis over the membership

period to which it relates.

Tangible fixed assets

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

Improvements to property

-

20% on cost

Equipment

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

Tangible fixed assets are stated at cost less depreciation.

Impairment of assets

At each reporting date assets are reviewed to determine whether there is any indication that those assets have

suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any

affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower,

the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised

immediately in profit or loss.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised

estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying

amount that would have been determined (net of depreciation) had no impairment loss been recognised for the

asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Financial instruments

Short term financial assets are measured at transaction price less any impairment. Short term financial liabilities

are measured at transaction price.

Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the

undiscounted amount due.

Associated undertaking loans payable and receivable are measured at the undiscounted amount due as they are

deemed to be repayable on demand.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2016 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

Equipment

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 August 2016

and 31 July 2017

68,374

21,384

20,184

8,238

118,180

DEPRECIATION

At 1 August 2016

17,327

12,826

9,928

6,083

46,164

Charge for year

13,652

4,277

5,059

1,419

24,407

At 31 July 2017

30,979

17,103

14,987

7,502

70,571

NET BOOK VALUE

At 31 July 2017

37,395

4,281

5,197

736

47,609

At 31 July 2016

51,047

8,558

10,256

2,155

72,016

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

17,666

133,461

Prepayments and accrued income

2,551

4,935

20,217

138,396

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

33,721

76,654

Amounts owed to associated undertakings

142,715

164,986

Social security and other taxes

17,671

20,958

Director's current account

30,000

30,000

Accrued expenses

21,373

27,533

245,480

320,131

7.	LIMITED BY GUARANTEE

The company is a private company limited by guarantee and consequently does not have any share capital. Each

of the members is liable to contribute an amount not exceeding £10 (in total £20) towards the assets of the

company in the event of liquidation.

8.	FIRST YEAR ADOPTION

This is the first year that the company has presented its results under FRS 102 Section 1A for small entities. The

Directors have concluded that there are no measurement differences between the previous UK GAAP and FRS

102 Section 1A.

Amounts owed to associated undertakings have been reclassified as due within one year as deemed to be

repayable on demand.