REGISTERED NUMBER:
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High Performance Learning Services Ltd |
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Unaudited Financial Statements |
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for the Year Ended 31 August 2020 |
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REGISTERED NUMBER:
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High Performance Learning Services Ltd |
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Unaudited Financial Statements |
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for the Year Ended 31 August 2020 |
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High Performance Learning Services Ltd (Registered number: 09722045) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 6 |
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High Performance Learning Services Ltd |
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Company Information |
for the Year Ended 31 August 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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8a Wingbury Courtyard |
Business Village |
Wingrave |
Buckinghamshire |
HP22 4LW |
High Performance Learning Services Ltd (Registered number: 09722045) |
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Balance Sheet |
31 August 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
ASSETS |
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FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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443,789 | 216,216 |
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CAPITAL, RESERVES AND LIABILITIES |
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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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CREDITORS |
Amounts falling due within one year | 6 |
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Amounts falling due after more than
one year |
7 |
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239,348 | 319,731 |
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ACCRUALS AND DEFERRED INCOME |
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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. |
High Performance Learning Services Ltd (Registered number: 09722045) |
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Balance Sheet - continued |
31 August 2020 |
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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 Board of Directors and authorised for issue on
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High Performance Learning Services Ltd (Registered number: 09722045) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2020 |
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1. | STATUTORY INFORMATION |
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High Performance Learning Services Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net sales of goods and services, excluding value added tax. Revenue is recognised in the Income Statement as the goods and services are delivered to the school. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Government grants |
Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement. |
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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 balance sheet date. |
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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 and that are expected to apply to the reversal of the timing difference. |
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Current or deferred taxation liabilities are not discounted. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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High Performance Learning Services Ltd (Registered number: 09722045) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The pension costs charged in the financial statements represent the contributions payable by the company for the year. |
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Deferred income |
Deferred income represents the aggregate value of invoiced sales (excluding value added tax) where the company has not yet delivered the goods and services to the school. |
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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 | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 September 2019 |
and 31 August 2020 |
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DEPRECIATION |
At 1 September 2019 |
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Charge for year |
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At 31 August 2020 |
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NET BOOK VALUE |
At 31 August 2020 |
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At 31 August 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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High Performance Learning Services Ltd (Registered number: 09722045) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2020 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
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Directors loans |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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The directors have made loans to the Company totalling £121,377. The loans are non-interest bearing and are subordinated to all other creditors of the Company. It is the intention that these loans will be converted into ordinary share capital in the Company. |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2020 | 2019 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 7,500 | - |
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8. | OTHER FINANCIAL COMMITMENTS |
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The Company participated in the UK Government Bounceback Loan Scheme receiving a loan of £50,000 repayable over 6 years. Interest is payable at the rate of 2.5% after the initial 12 months. |
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9. | GOING CONCERN |
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The Directors have carried out an assessment which takes into account the effect of the Covid-19 pandemic and are satisfied that the company can continue to meet all of its liabilities as they fall due within the next twelve months. |