Selley Training (North East) Limited Filleted accounts for Companies House (small and micro)

SELLEY TRAINING (NORTH EAST) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 11865107

SELLEY TRAINING (NORTH EAST) LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2022

SELLEY TRAINING (NORTH EAST) LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2022

	2022		2021
Note	£	£	£	£

Fixed assets

Tangible assets	5		423		380

Current assets

Debtors	6	6,394	15,431
Cash at bank and in hand		8,908	1,636
		------------	------------
		15,302	17,067

Creditors: amounts falling due within one year	7	( 8,729)		( 8,676)
		------------		------------
Net current assets			6,573		8,391
			------------		------------
Total assets less current liabilities			6,996		8,771

Creditors: amounts falling due after more than one year	8	( 6,892)	( 8,667)
		------------	------------
Net assets		104	104
		------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	4	4
	------------	------------
Members funds	104	104
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

SELLEY TRAINING (NORTH EAST) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2022

These financial statements were approved by the board of directors and authorised for issue on 14 December 2022 , and are signed on behalf of the board by:

Mr J E Selley
Director

Company registration number: 11865107

SELLEY TRAINING (NORTH EAST) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Joseph Miller, Floor A, Milburn House, Dean Street, Newcastle upon Tyne, NE1 1LE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.

Income tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).

5. Tangible assets

	Equipment
	£
Cost
At 1 April 2021	761
Additions	369
	------------
At 31 March 2022	1,130
	------------
Depreciation
At 1 April 2021	381
Charge for the year	326
	------------
At 31 March 2022	707
	------------
Carrying amount
At 31 March 2022	423
	------------
At 31 March 2021	380
	------------

6. Debtors

	2022	2021
	£	£
Trade debtors	–	5,354
Other debtors	6,394	10,077
	------------	------------
	6,394	15,431
	------------	------------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	2,000	1,333
Corporation tax	5,543	6,144
Other creditors	1,186	1,199
	------------	------------
	8,729	8,676
	------------	------------

8. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	6,833	8,667
Trade creditors	59	–
	------------	------------
	6,892	8,667
	------------	------------

9. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2022
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr J E Selley	10,077	42,515	( 46,198)	6,394
	------------	------------	------------	------------

	2021
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr J E Selley	( 1,380)	20,542	( 9,085)	10,077
	------------	------------	------------	------------

The loan advanced to the director was interest free and repayable on demand. The loan was repaid in December 2022.