Company Registration No. 03576096 (England and Wales)
THE TEACHING AWARDS COMPANY LIMITED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
THE TEACHING AWARDS COMPANY LIMITED UNAUDITED ACCOUNTS CONTENTS
| Page | |
|---|---|
| Company information | 3 |
| Accountants’ report | 4 |
| Statement of financial position | 5 |
| Notestotheaccounts | 6 |
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THE TEACHING AWARDS COMPANY LIMITED COMPANY INFORMATION FOR THE YEAR ENDED 31 MARCH 2021
Directors
Stephen Munby Mary Ann Palmer
Secretary
BWB Secretarial Limited
Company Number 03576096 (England and Wales) Registered Office 10 QUEEN STREET PLACE LONDON EC4R 1BE
Accountants Karon Cook ] Therapia Road London se22 Osf
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CHARTERED ACCOUNTANTS’ REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF THE TEACHING AWARDS COMPANY LIMITED FOR THE YEAR ENDED 31 MARCH 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Teaching Awards Company Limited for the year ended 31 March 2021 as set out on pages 5 - 7 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of The Teaching Awards Company Limited, as a body, in accordance with the terms of our engagement letter dated 8 November 2017. Our work has been undertaken solely to prepare for your approval the accounts of The Teaching Awards Company Limited and state those matters that we have agreed to state to the Board of Directors of The Teaching Awards Company Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Teaching Awards Company Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that The Teaching Awards Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Teaching Awards Company Limited. You consider that The Teaching Awards Company Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of The Teaching Awards Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts,
Karon Cook
Chartered Accountants
1 Therapia Road London se22 Osf
12 December 2021
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THE TEACHING AWARDS COMPANY LIMITED STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Fixed assets | |||
| Tangible assets | 4 | - | 1,068 |
| Current assets | |||
| Debtors | 4 | 58,508 | 18,608 |
| Cash at bank and inhand | $42,566 | 455,081 | |
| 601,074 | 473,689 | ||
| Creditors: amounts fallingduewithin oneyear | 6 | (600,974) | (606,695) |
| Netcurrent assets/(liabilities) | 100 | (133,006) | |
| Net assets/(liabilities) | 100 | (131,938) | |
| Capital and reserves | |||
| Called up share cupital | 2 | 2 | |
| Share premium | 98 | 98 | |
| Profit and loss account | - | (132,038) | |
| Shareholders’funds | 100 | (131,938) |
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to cbtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the smal] companies‘ tegime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 December 2021 and were signed on its behalf by
Stephen Munby Director
Company Registration No. 03576096
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THE TEACHING AWARDS COMPANY LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
1. Statutory information
The Teaching Awards Company Limited is a private company, limited by shares, registered in England and Wales, registration number 03576096. The registered office is 10 QUEEN STREET PLACE, LONDON, EC4R IBE.
2 Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small! Entities. There were no material departures trom that standard.
3 Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Exceptional Items
After discussion with HMRC and the Charity Commission the trustees of the parent charity of the Teaching Awards Company Ltd have decided that it was in the best interest of the charity group to write off the intercompany balance owed to the parent charity. This gave nse to exception income shown in other opcrating income in the company accounts of £219,808,
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4 Tangible fixed assets
| Tangible fixed assets | Fixtures& | Computer | Total |
|---|---|---|---|
| fittings | equipment | ||
| £ | £ | £ | |
| Cost or valuation | At cost | At cost | |
| At |
April 2020 | - | 1,508 |
| Disposals | - | (1,508) | (1,508) |
| At 3] March 2021 | - | - | - |
| Depreciation | |||
| At | April 2020 | - | 440 |
| Charge fortheyear | (440) | - | (440) |
| At 31 March 2021 | (440) | 440 | - |
| Net book value | NN | ||
| At 31 March 2021 | 440 | (440) | - |
| At31March2020 | - | 1,068 | 1,068 |
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THE TEACHING AWARDS COMPANY LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
5 Debtors: amounts falling due within one year
| Debtors: amounts falling due within one year | 2021 | 2020 |
|---|---|---|
| £ | £ | |
| Trade debtors | 30,372 | 7,872 |
| Accrued income and prepayments | 28,136 | 10,736 |
| 58,508 | 18,608 | |
| Creditors: amounts falling due within one year | 2021 | 2020 |
| £ | £ | |
| VAT | 56,235 | 53,732 |
| Trade creditors | 13,613 | 1,700 |
| Amounts owed to group undertakings and otherparticipating interests | - | 219,808 |
| Taxes and social security | 49 | 2,528 |
| Other creditors | 426,489 | 325,852 |
| Accruals | 104,588 | 3,075 |
| 600,974 | 606,695 |
6 Creditors: amounts falling due within one year
7 Transactions with related parties
A Gift aid payment was made to the parent charity of £14,430
8 Average number of employees
During the year the average number of employees was 5 (2020: 3).
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This document was delivered using electronic communications and authenticated in accordance with the registrar's rules relating to electronic form, authentication and manner of delivery under section 1072 of the Companies Act 2006.