Company registration number 11715880 (England and Wales)
AYLMERTON OUTDOOR EDUCATION CENTRE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
AYLMERTON OUTDOOR EDUCATION CENTRE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
AYLMERTON OUTDOOR EDUCATION CENTRE LTD
BALANCE SHEET
AS AT 31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
54,600
34,866
Current assets
Stocks
750
525
Debtors
4
71,907
76,004
Cash at bank and in hand
751,588
613,491
824,245
690,020
Creditors: amounts falling due within one year
5
(345,662)
(367,692)
Net current assets
478,583
322,328
Total assets less current liabilities
533,183
357,194
Creditors: amounts falling due after more than one year
6
(103,503)
(130,800)
Provisions for liabilities
(10,374)
(6,625)
Net assets
419,306
219,769
Capital and reserves
Called up share capital
8
8
Profit and loss reserves
419,298
219,761
Total equity
419,306
219,769
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
AYLMERTON OUTDOOR EDUCATION CENTRE LTD
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022
31 December 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on ......................... and are signed on its behalf by:
2023-12-28
..............................................
Ms SV Holroyd
Director
Company registration number 11715880 (England and Wales)
AYLMERTON OUTDOOR EDUCATION CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
1
Accounting policies
Company information
Aylmerton Outdoor Education Centre Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Old School House, Aylmerton, Norwich, Norfolk, England, NR11 8RA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
- 25% reducing balance
Fixtures and fittings
- 25% reducing balance
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
AYLMERTON OUTDOOR EDUCATION CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.7
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.
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 receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
23
23
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2022
77,116
Additions
39,788
Disposals
(4,396)
At 31 December 2022
112,508
Depreciation and impairment
At 1 January 2022
42,249
Depreciation charged in the year
18,200
Eliminated in respect of disposals
(2,541)
At 31 December 2022
57,908
Carrying amount
At 31 December 2022
54,600
At 31 December 2021
34,866
AYLMERTON OUTDOOR EDUCATION CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
43,788
21,222
Other debtors
28,119
54,782
71,907
76,004
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
26,497
19,200
Trade creditors
23,674
37,982
Corporation tax
61,484
54,557
Other taxation and social security
14,803
54,992
Other creditors
219,204
200,961
345,662
367,692
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
103,503
130,800