Anglian Academy Limited - Period Ending 2014-07-31

Registration number: 06721116

Anglian Academy Limited

Abbreviated Accounts

for the Year Ended 31 July 2014
 

Anglian Academy Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Anglian Academy Limited
(Registration number: 06721116)
Abbreviated Balance Sheet at 31 July 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					88,589			95,533
Tangible fixed assets					83,971			69,544
					172,560			165,077
Current assets
Stocks					7,950			7,422
Debtors					58,863			48,582
Cash at bank and in hand					8,977			17,804
					75,790			73,808
Creditors: Amounts falling due within one year					(70,867)			(138,993)
Net current assets/(liabilities)					4,923			(65,185)
Total assets less current liabilities					177,483			99,892
Creditors: Amounts falling due after more than one year					(83,495)			(20,054)
Provisions for liabilities					(10,882)			(6,431)
Net assets					83,106			73,407
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					83,006			73,307
Shareholders' funds					83,106			73,407

For the year ending 31 July 2014 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 director acknowledges her 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 .

Approved by the director on 9 December 2014

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Anglian Academy Limited
(Registration number: 06721116)
Abbreviated Balance Sheet at 31 July 2014
......... continued

.........................................
Mrs Karen Elizabeth Pymer
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Anglian Academy Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	5% straight line basis

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	15% reducing balance
Office equipment	25% straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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Anglian Academy Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 August 2013		138,882			139,439			278,321
Additions		-			26,987			26,987
At 31 July 2014		138,882			166,426			305,308
Depreciation
At 1 August 2013		43,349			69,895			113,244
Charge for the year		6,944			12,560			19,504
At 31 July 2014		50,293			82,455			132,748
Net book value
At 31 July 2014		88,589			83,971			172,560
At 31 July 2013		95,533			69,544			165,077

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		10,095			-
Amounts falling due after more than one year		20,054			-
Total secured creditors		30,149			-

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

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