Trades Training School Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC348792 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

TRADES TRAINING SCHOOL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A R O'Neil

REGISTERED OFFICE:

Block 3, Unit 2

Peffermill Industrial Estate

Edinburgh

Lothian

EH16 5UY

REGISTERED NUMBER:

SC348792 (Scotland)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

Q Court

3 Quality Street

Edinburgh

EH4 5BP

FIXED ASSETS

Intangible assets

4

356

712

Tangible assets

5

5,102

4,832

5,458

5,544

CURRENT ASSETS

Stocks

5,500

10,250

Debtors

6

15,924

7,256

Cash at bank

62,784

28,328

84,208

45,834

CREDITORS

Amounts falling due within one year

7

44,477

16,846

NET CURRENT ASSETS

39,731

28,988

TOTAL ASSETS LESS CURRENT LIABILITIES

45,189

34,532

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

45,188

34,531

SHAREHOLDERS' FUNDS

45,189

34,532

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 June 2021 and were signed by:

A R O'Neil - Director

1.	STATUTORY INFORMATION

Trades Training School Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 amounts receivable in respect of the provision of specialist construction training courses, excluding VAT.

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 is being amortised evenly over its estimated useful life of five years.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% per annum reducing balance

Motor vehicles

-

20% per annum reducing balance

GOVERNMENT GRANTS

Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they

relate.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Website

£

COST

At 1 October 2019

and 30 September 2020

1,780

AMORTISATION

At 1 October 2019

1,068

Amortisation for year

356

At 30 September 2020

1,424

NET BOOK VALUE

At 30 September 2020

356

At 30 September 2019

712

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 October 2019

6,700

14,290

20,990

Additions

1,503

-

1,503

Disposals

(234

)

-

(234

)

At 30 September 2020

7,969

14,290

22,259

DEPRECIATION

At 1 October 2019

4,900

11,258

16,158

Charge for year

591

606

1,197

Eliminated on disposal

(198

)

-

(198

)

At 30 September 2020

5,293

11,864

17,157

NET BOOK VALUE

At 30 September 2020

2,676

2,426

5,102

At 30 September 2019

1,800

3,032

4,832

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

15,365

2,850

Other debtors

559

4,406

15,924

7,256

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

5,825

8,049

Taxation and social security

17,851

5,810

Other creditors

20,801

2,987

44,477

16,846

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2020

2019

£

£

Within one year

8,050

16,100

9.	DEFERRED TAX

£

Balance at 1 October 2019

(483

)

Provided during year

82

Balance at 30 September 2020

(401

)

10.	RELATED PARTY DISCLOSURES

Included in 'Other creditors' is an amount of £116 (2019 - £116) due from the company to the director. The loan is interest free and repayable on demand.