Company No:
Contents
Note | 2021 | 2020 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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958 | 1,276 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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587,558 | 670,504 | |||
Creditors | ||||
Amounts falling due within one year | 5 | (
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Net current assets | 533,181 | 489,035 | ||
Total assets less current liabilities | 534,139 | 490,311 | ||
Net assets |
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Reserves | ||||
Retained earnings |
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Total reserves |
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Directors' responsibilities:
The financial statements of Leading Schools South West Limited (registered number:
Robert Mitchell
Director |
Roger John Pope
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Leading Schools South West Limited (the Company) is a private company, limited by guarantee without share capital, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Kingsbridge Community College, Balkwill Road, Kingsbridge, TQ7 1PL, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The directors' assumptions and outlook assumes that COVID-19 causes no long-term material unanticipated changes to the business model. The financial statements do not reflect any adjustments that would be necessary should the long-term ability of the company be jeopardised due to the current COVID-19 situation.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Plant and machinery etc. |
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Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.
2021 | 2020 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 01 November 2020 |
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At 31 October 2021 |
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Accumulated depreciation | |||
At 01 November 2020 |
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Charge for the financial year |
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At 31 October 2021 |
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Net book value | |||
At 31 October 2021 |
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At 31 October 2020 |
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2021 | 2020 | ||
£ | £ | ||
Trade debtors |
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Prepayments |
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2021 | 2020 | ||
£ | £ | ||
Trade creditors |
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Other creditors |
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Accruals and deferred income |
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Transactions with the entity's directors
2021 | 2020 | ||
£ | £ | ||
Invoices received from directors for services provided for programme delivery | 46,562 | 50,550 |