Company Registration No. SC246917 (Scotland)
TORRIDON EDUCATION GROUP LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
TORRIDON EDUCATION GROUP LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
TORRIDON EDUCATION GROUP LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
52,500
60,000
Tangible assets
2
105,724
58,899
158,224
118,899
Current assets
Debtors
1,008
1,853
Cash at bank and in hand
8,522
-
9,530
1,853
Creditors: amounts falling due within one year
(122,487)
(69,585)
Net current liabilities
(112,957)
(67,732)
Total assets less current liabilities
45,267
51,167
Provisions for liabilities
(13,391)
(5,530)
31,876
45,637
Capital and reserves
Called up share capital
3
1,000
1,000
Profit and loss account
30,876
44,637
Shareholders' funds
31,876
45,637
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 31 August 2016
Miss L Hayward
Director
Company Registration No. SC246917
TORRIDON EDUCATION GROUP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
1.3
Turnover
Turnover represents the value of sales to customers, net of discounts, allowances, volume and promotional rebates and other payments to customers. Sales of services are recognised when the company has provided the service to the cu st omer and the collectability of the related receivable is reasonabl y assured.
st
omer and
the
collectability
of the related receivable is reasonabl
y
assured.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years , as assessed by the directors .
, as assessed by the directors
.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Tenants improvements
10% straight line
Plant and machinery
20% reducing balance
Computer equipment
33% straight line
Fixtures, fittings and equipment
25% reducing balance
1.6
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.7
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.8
Deferred taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
TORRIDON EDUCATION GROUP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015
150,000
87,247
237,247
Additions
-
60,628
60,628
Disposals
-
(2,318)
(2,318)
At 31 March 2016
150,000
145,557
295,557
Depreciation
At 1 April 2015
90,000
28,348
118,348
On disposals
-
(1,449)
(1,449)
Charge for the year
7,500
12,934
20,434
At 31 March 2016
97,500
39,833
137,333
Net book value
At 31 March 2016
52,500
105,724
158,224
At 31 March 2015
60,000
58,899
118,899
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1,000 ordinary shares of £1 each
1,000
1,000