DBC Academies Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09951550 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018

FOR

DBC ACADEMIES LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

S O'Connell

Mrs K Bentley

A Oldale

REGISTERED OFFICE:

3-4 St. Peters Churchyard

Derby

Derbyshire

DE1 1NN

REGISTERED NUMBER:

09951550 (England and Wales)

ACCOUNTANTS:

Cobb Burgin

Chartered Accountants

129a Middleton Boulevard

Wollaton Park

Nottingham

NG8 1FW

FIXED ASSETS

Investments

3

3,807,155

3,807,155

CURRENT ASSETS

Debtors

4

22,525

-

CREDITORS

Amounts falling due within one year

5

(69,198

)

(145,530

)

NET CURRENT LIABILITIES

(46,673

)

(145,530

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,760,482

3,661,625

CREDITORS

Amounts falling due after more than one year

6

(1,000,000

)

(1,000,000

)

NET ASSETS

2,760,482

2,661,625

CAPITAL AND RESERVES

Called up share capital

10

10

Share premium

2,730,747

2,730,747

Retained earnings

29,725

(69,132

)

2,760,482

2,661,625

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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 profit or loss 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 19 September 2018 and were signed on its behalf by:

Mrs K Bentley - Director

1.	STATUTORY INFORMATION

DBC Academies Limited is a private company, limited by shares , 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.

Preparation of consolidated financial statements

The financial statements contain information about DBC Academies Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company

is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare

consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose

related party transactions with wholly owned subsidiaries within the group.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the income

statement.

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 or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable

profits.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 June 2017

and 31 May 2018

3,807,155

NET BOOK VALUE

At 31 May 2018

3,807,155

At 31 May 2017

3,807,155

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed by group undertakings

22,525

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other creditors

69,198

145,530

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

1,000,000

1,000,000

2018

2017

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Loans over 5yrs non-instalment

1,000,000

1,000,000

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Other loans

1,000,000

1,000,000

The loan notes are secured by a first charge over the assets of the company and its subsidiary, Derby

Business College Limited. They carry interest at 3% p.a. and are repayable after 7 years.

The loan notes are held by Mr A. Oldale who is a director of and shareholder in DBC Academies

Limited.