Teaching Art Holdings Limited - Accounts to registrar (filleted) - small 23.1.5

Teaching Art Holdings Limited - Accounts to registrar (filleted) - small 23.1.5

TEACHING ART HOLDINGS LIMITED - Company Information

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REGISTERED NUMBER: 10704225 (England and Wales)















TEACHING ART HOLDINGS LIMITED

FINANCIAL STATEMENTS

FOR THE PERIOD

1 OCTOBER 2021 TO 30 JUNE 2022






TEACHING ART HOLDINGS LIMITED (REGISTERED NUMBER: 10704225)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2021 TO 30 JUNE 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


TEACHING ART HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 OCTOBER 2021 TO 30 JUNE 2022







DIRECTORS: R N Billings
M N Cass



REGISTERED OFFICE: Millennium House
Brunel Drive
Newark
Nottinghamshire
NG24 2DE



REGISTERED NUMBER: 10704225 (England and Wales)



SENIOR STATUTORY AUDITOR: Ian Phillips FCA



AUDITORS: Duncan & Toplis Limited, Statutory Auditor
14 London Road
Newark
Nottinghamshire
NG24 1TW
Page 1
TEACHING ART HOLDINGS LIMITED (REGISTERED NUMBER: 10704225)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investments 4 4,272,120 4,332,120

CURRENT ASSETS
Debtors 5 1,041 146
Cash at bank 956 131
1,997 277
CREDITORS
Amounts falling due within one year 6 6,430,637 6,196,982
NET CURRENT LIABILITIES (6,428,640 ) (6,196,705 )
TOTAL ASSETS LESS CURRENT LIABILITIES (2,156,520 ) (1,864,585 )

CAPITAL AND RESERVES
Called up share capital 7 128 128
Share premium 900 900
Retained earnings (2,157,548 ) (1,865,613 )
SHAREHOLDERS' FUNDS (2,156,520 ) (1,864,585 )

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 and authorised for issue on 1 June 2023 and were signed on its behalf by:





R N Billings - Director


The notes form part of these financial statements

Page 2
TEACHING ART HOLDINGS LIMITED (REGISTERED NUMBER: 10704225)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2021 TO 30 JUNE 2022

1. STATUTORY INFORMATION

Teaching Art Holdings 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.

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.

The accounting period is for 9 months. The year end was changed from 30 September to 30 June to align with the rest of the group (PHD Industrial Holdings). The comparative amounts included in the financial statements are therefore for a period of 17 months.

Preparation of consolidated financial statements
The financial statements contain information about Teaching Art Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or- reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Taxation
Taxation for the period 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Page 3 continued...
TEACHING ART HOLDINGS LIMITED (REGISTERED NUMBER: 10704225)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2021 TO 30 JUNE 2022

2. ACCOUNTING POLICIES - continued

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.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2021 - 4 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2021 4,332,120
Impairments (60,000 )
At 30 June 2022 4,272,120
NET BOOK VALUE
At 30 June 2022 4,272,120
At 30 September 2021 4,332,120

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 1,041 146

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 15,435 -
Amounts owed to group undertakings 6,404,355 6,183,940
Taxation and social security - 1,015
Other creditors 10,847 12,027
6,430,637 6,196,982

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary A 1 100 100
28 Ordinary B 1 28 28
128 128

Page 4 continued...
TEACHING ART HOLDINGS LIMITED (REGISTERED NUMBER: 10704225)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2021 TO 30 JUNE 2022

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ian Phillips FCA (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Limited, Statutory Auditor

9. GOING CONCERN

The financial statements have been prepared on the going concern basis which the directors believe is appropriate. The company continues to receive the full support of its trading subsidiaries and the controlling party Art- Line Limited have confirmed their intention to continue their financial support of the company to enable it to meet its liabilities as they fall due.

Page 5