| Page | ||||
|---|---|---|---|---|
| Company Information |
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| Duector's Report | ||||
| Accountants' Report |
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| Inoome and Expenditure | Account | |||
| Notes tothc Financial Statements | ||||
| The following pages do |
not form | part ofthe statutory | acoounts: | |
| Detailed Income and Expenditure | Account | 8— 9 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Notes | ||||
| TURNOVER | 312,426 | 333,524 | ||
| Cost ofsales | (232+25) | (261+69) | ||
| GROSS SURPLUS | 80,101 | 7~5 | ||
| (754) | ||||
| Administrative | expenses | (53,732) | (99,534) | |
| Other operating | income | 1,708 | 34,419 | |
| OPERATING YEAR |
SURPLUS AND SURPLUS FORTHE FINANCIAL | 27323 | 7,140 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Notes | ||||||
| FIXEDASSETS | ||||||
| Intantpble Assets |
15,893 | 22,249 | ||||
| 15,893 | 22,249 | |||||
| CURRENT ASSETS | ||||||
| Debtors | 349 | |||||
| Cash at bank and in hand | 279,949 | 245,658 | ||||
| 280,298 | 246,619 | |||||
| NET CURRENT ASSETS(LIABILITIES) | 280,298 | 246,619 | ||||
| TOTAL ASSETSLESSCURRENT LIAIHLITIES | 296,191 | 268,868 | ||||
| NET ASSETS | 296,191 | 268,868 | ||||
| Inoomc and Expenditure | Account | 296,191 | 268,868 | |||
| MEMBERS' FUNDS | 296,191 | 268,868 |
| l. | Accounting Pollctcs |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1.1. BasisofPreparation ofFlnanchil Statements |
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| The finanoial statcmcnts are prepared under thc historical cost convention |
and in acoordsnce with the FRS102Section 1ASmall Entitics - Thc | |||||||||||
| Finanoial Reporting Standard applicable in the UK and Republio |
ofbelaud | and the Companies Act |
2006. | |||||||||
| 1.2. Turnover |
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| Tumovcr is measured at thc fair value ofthc consideration received orreceivable, nct ofdiscounts |
and value added taxes. Turnover includes revenue |
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| earned fiom the sale ofgoods and from thc rcndcring ofservices. | Turnover | is reduced forestimated | customer retmns, | rebatm and other | simihir | |||||||
| allowances. | ||||||||||||
| Sale ofgoods | ||||||||||||
| Turnover born the sale ofgoods is recognised when thc significant risks and rewards ofownership usually at the point that the customer has signed for the delivery ofthc goods. |
ofthc goods has transferred | tothe buyer. This is | ||||||||||
| Rendering ofservices | ||||||||||||
| Turnover from the rcndcring ofscrviccs is recognised by refcrcncc tothe stage ofcompletion |
ofthc | contract. The stage ofcompletion ofacontract is | ||||||||||
| measured by comparing thc costs incurred for work performed |
to | date to the total estimated contract | costs. | Turnover | is only recognised | to the extent | ||||||
| ofrecovcrablc cxpcnscs when thc outcome ofa contract oannot | bc estimated reliably. |
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| 1.3. Intangible Fixed Assets and Amorttsatton —Goodwill |
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| Goodwill is the dilfmenee between amounts paid on thc acquisition ofabusiness and thc fair |
value | ofthc separable nct assets. | Itis amortised to | |||||||||
| income and expenditure account over its estimated economic life |
of..., years. | |||||||||||
| 1.4. Government Grant |
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| Govcrnmcnt grants are recognised in thc income and cxpcnditmc |
account in an appropriate manner |
that matches them | with the | expenditure towards |
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| whioh they aie intended to contribute. | ||||||||||||
| Grants for immediate financial support orto cover costs already |
incurred are reoogniscd immediately | in the income and expenditure account. Grants |
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| towards general activities ofthe entity over aspcoifio period arc reoognised |
in the income and expenditure | account over that period. | ||||||||||
| Grants towards fixed assets aie recognised over thc cxpcetcd useful lives ofthc related assets | and arc treated as defened income and released to thc | |||||||||||
| income and cxpenditurc account over thc useful lifo ofthc asset concerned. |
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| All grants in the income snd expenditure account are recognised |
when all conditions forrcecipt have been | complied | with. | |||||||||
| 2. | Average Number ofEmployees | |||||||||||
| Average number ofemployccs, including directors, during the year was |
as | follows: | 15(2020; 15) | |||||||||
| 3. | Intangible Assets |
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| As | at 1 January 2021 | 63/63 | ||||||||||
| As | at31December 2021 |
63,563 | ||||||||||
| Amorttsatkm | ||||||||||||
| As | at 1 January 2021 | 41@14 | ||||||||||
| Provided during the period |
6356 | |||||||||||
| As | at 31Dcccmber 2021 | 47,670 | ||||||||||
| Net BookValue | ||||||||||||
| As | at 31December 2021 | 15,$93 | ||||||||||
| As | at 1 January 2021 | 22+49 |
| 2020 | ||
|---|---|---|
| Due wttbin one year | ||
| Trade debtors | 349 | |
| 349 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| TURNOVER | |||||||
| Fee inoomc | 207,440 | 163,134 | |||||
| Grant income | 104,986 | 170/90 | |||||
| 312,426 | 333,524 | ||||||
| COSTOFSALES | |||||||
| Classroom supplies |
(Cost ofsales) | 8,913 | 9,299 | ||||
| Agency staff(Costofsales) | 577 | ||||||
| Wages and salaries | 222,835 | 251,970 | |||||
| (232,325) | (261,269) | ||||||
| GROSS SURPLUS | 80,101 | 7~55 | |||||
| nhtrlbutfon Costs |
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| Waste disposal | 754 | ||||||
| (754) | |||||||
| Admlnhtratlve | Expenses | ||||||
| Staff trauung | |||||||
| Rent aud rates | 1,796 | 37,456 | |||||
| Service charges | 28,708 | 29,188 | |||||
| Light and heat | 3,662 | ||||||
| Water rates | (610) | 773 | |||||
| Repairs and maintcnancc | 132 | ||||||
| Prem iscs insuranoc | 1,279 | 2,104 | |||||
| Other premises costs | 776 | 3,428 | |||||
| Hire and leasing | ofcomputer and | other equipmcnt | 3,900 | 2+70 | |||
| Computer sofhvare, |
consumablcs | and maintenance | 238 | 689 | |||
| Printing, postage |
and stationery | 164 | 270 | ||||
| Telecommunications | and data costs | 3,899 | |||||
| Website costs | 377 | ||||||
| Legal fees | 307 | ||||||
| Professional fees |
5,448 | 6,820 | |||||
| Subsoriptions | 197 | 166 | |||||
| Bank charges | 136 | 252 | |||||
| Other oEice costs | 31 | ||||||
| Amortisation | 6,356 | 6/56 | |||||
| Sundry expenses | 710 | ||||||
| (53,732) | (99,534) |
| Other Operating | Income | ||||
|---|---|---|---|---|---|
| Government grant |
receipts - net | 1,708 | 34,419 | ||
| 1,708 | 34,419 | ||||
| OPERATING SURPLUS AND SURPLUS FORTHE FINANCIAL YEAR |
27,323 | 7,140 |