Company Registration No. SC246917 (Scotland)
TORRIDON EDUCATION GROUP LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
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 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
60,000
67,500
Tangible assets
2
58,899
5,253
118,899
72,753
Current assets
Debtors
1,853
1,425
Cash at bank and in hand
-
15,685
1,853
17,110
Creditors: amounts falling due within one year
(69,585)
(71,667)
Net current liabilities
(67,732)
(54,557)
Total assets less current liabilities
51,167
18,196
Provisions for liabilities
(5,530)
(1,050)
45,637
17,146
Capital and reserves
Called up share capital
3
1,000
1,000
Profit and loss account
44,637
16,146
Shareholders' funds
45,637
17,146
For the financial year ended 31 March 2015 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 11 August 2015
Mrs Sharon Hayward
Director
Company Registration No. SC246917
TORRIDON EDUCATION GROUP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 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 April 2008).
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
50% 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 2015
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2014
150,000
31,536
181,536
Additions
-
55,711
55,711
At 31 March 2015
150,000
87,247
237,247
Depreciation
At 1 April 2014
82,500
26,283
108,783
Charge for the year
7,500
2,065
9,565
At 31 March 2015
90,000
28,348
118,348
Net book value
At 31 March 2015
60,000
58,899
118,899
At 31 March 2014
67,500
5,253
72,753
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
1,000 ordinary shares of £1 each
1,000
1,000