REGISTERED NUMBER:
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Vocational Education Associates Ltd |
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Unaudited Financial Statements for the Year Ended 31 May 2021 |
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REGISTERED NUMBER:
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Vocational Education Associates Ltd |
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Unaudited Financial Statements for the Year Ended 31 May 2021 |
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Vocational Education Associates Ltd (Registered number: 09050927) |
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Contents of the Financial Statements |
for the Year Ended 31 May 2021 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Vocational Education Associates Ltd |
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Company Information |
for the Year Ended 31 May 2021 |
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Director: |
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Registered office: |
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Registered number: |
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Accountants: |
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5 Queen Street |
Great Yarmouth |
Norfolk |
NR30 2QP |
Vocational Education Associates Ltd (Registered number: 09050927) |
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Statement of Financial Position |
31 May 2021 |
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31/5/21 | 31/5/20 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Current assets |
Debtors | 5 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 6 |
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Net current assets |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one
year |
7 |
( |
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( |
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Provisions for liabilities | ( |
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Net (liabilities)/assets | ( |
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Capital and reserves |
Called up share capital |
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Retained earnings | ( |
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Shareholders' funds | ( |
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The director acknowledges his 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. |
Vocational Education Associates Ltd (Registered number: 09050927) |
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Statement of Financial Position - continued |
31 May 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Vocational Education Associates Ltd (Registered number: 09050927) |
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Notes to the Financial Statements |
for the Year Ended 31 May 2021 |
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1. | Statutory information |
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Vocational Education Associates Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Government grants |
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. |
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A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or become receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. |
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Financial instruments |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Vocational Education Associates Ltd (Registered number: 09050927) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2021 |
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2. | Accounting policies - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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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. |
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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. |
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3. | Employees and directors |
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The average number of employees during the year was
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4. | Tangible fixed assets |
Fixtures |
and |
fittings |
£ |
Cost |
At 1 June 2020 |
and 31 May 2021 |
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Depreciation |
At 1 June 2020 |
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Charge for year |
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At 31 May 2021 |
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Net book value |
At 31 May 2021 |
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At 31 May 2020 |
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5. | Debtors: amounts falling due within one year |
31/5/21 | 31/5/20 |
£ | £ |
Trade debtors |
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6. | Creditors: amounts falling due within one year |
31/5/21 | 31/5/20 |
£ | £ |
Trade creditors | ( |
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Taxation and social security |
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Other creditors |
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7. | Creditors: amounts falling due after more than one year |
31/5/21 | 31/5/20 |
£ | £ |
Other creditors |
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