School For Startups Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06469607 (England and Wales)

Financial Statements

for the Year Ended 31 March 2019

for

School For Startups Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D M Richard

M L Northcott

REGISTERED OFFICE:

SB&P LLP

Oriel House

2-8 Oriel Road

Bootle

Merseyside

L20 7EP

REGISTERED NUMBER:

06469607 (England and Wales)

ACCOUNTANTS:

SB&P

Chartered Accountants

Oriel House

2-8 Oriel Road

Bootle

Liverpool

Merseyside

L20 7EP

CURRENT ASSETS

Debtors

6

446,191

487,567

Cash at bank

37,911

116,012

484,102

603,579

CREDITORS

Amounts falling due within one year

7

21,818

35,199

NET CURRENT ASSETS

462,284

568,380

TOTAL ASSETS LESS CURRENT LIABILITIES

462,284

568,380

CREDITORS

Amounts falling due after more than one year

8

-

17,080

NET ASSETS

462,284

551,300

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

462,283

551,299

SHAREHOLDERS' FUNDS

462,284

551,300

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 24 December 2019 and were signed on its behalf by:

D M Richard - Director

1.	STATUTORY INFORMATION

School For Startups Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the net amount receivable from Seminar fees, Sponsorship income, Speech income and

other similar income excluding value added tax. Revenue is recognised when the service is provided.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Website development costs are being amortised evenly over their estimated useful life of nil years.

Website development costs

Website development costs have been capitalised as it is considered to be an enduring asset with a useful

estimated life of four years, and hence will be amortised using the straight line method over this period.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

50% on cost

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

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 by the year end and that are expected to apply to the reversal

of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2018

and 31 March 2019

150,069

AMORTISATION

At 1 April 2018

and 31 March 2019

150,069

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2018

and 31 March 2019

2,156

DEPRECIATION

At 1 April 2018

and 31 March 2019

2,156

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Other debtors

38,056

20,000

Directors' current accounts

332,430

368,637

Tax

75,705

98,930

446,191

487,567

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans and overdrafts

19,284

32,500

Social security and other taxes

4

8

Directors' current accounts

655

816

Accrued expenses

1,875

1,875

21,818

35,199

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans - 1-2 years

-

17,080

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

£

£

Bank loans

19,284

49,580

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2019 and

31 March 2018:

31.3.19

31.3.18

£

£

D M Richard

Balance outstanding at start of year

368,638

461,410

Amounts advanced

4,030

11,700

Amounts repaid

(40,238

)

(104,472

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

332,430

368,638