false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
No description of principal activity
2016-07-01
Sage Accounts Production Advanced 2017 Update 2 - FRS
242,848
224,180
xbrli:pure
xbrli:shares
iso4217:GBP
06051736
2016-07-01
2017-06-30
06051736
2017-06-30
06051736
2016-06-30
06051736
2015-07-01
2016-06-30
06051736
2016-06-30
06051736
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2016-07-01
2017-06-30
06051736
core:FurnitureFittings
2016-07-01
2017-06-30
06051736
core:MotorVehicles
2016-07-01
2017-06-30
06051736
bus:RegisteredOffice
2016-07-01
2017-06-30
06051736
bus:LeadAgentIfApplicable
2016-07-01
2017-06-30
06051736
bus:Director1
2016-07-01
2017-06-30
06051736
bus:Director2
2016-07-01
2017-06-30
06051736
bus:Director3
2016-07-01
2017-06-30
06051736
bus:CompanySecretary1
2016-07-01
2017-06-30
06051736
core:WithinOneYear
2017-06-30
06051736
core:WithinOneYear
2016-06-30
06051736
core:RetainedEarningsAccumulatedLosses
2015-07-01
2016-06-30
06051736
core:RetainedEarningsAccumulatedLosses
2016-06-30
06051736
core:RetainedEarningsAccumulatedLosses
2015-06-30
06051736
core:RetainedEarningsAccumulatedLosses
2017-06-30
06051736
core:RetainedEarningsAccumulatedLosses
2016-06-30
06051736
core:ShareCapital
2017-06-30
06051736
core:ShareCapital
2016-06-30
06051736
bus:FRS102
2016-07-01
2017-06-30
06051736
bus:AuditExemptWithAccountantsReport
2016-07-01
2017-06-30
06051736
bus:AbridgedAccounts
2016-07-01
2017-06-30
06051736
bus:SmallCompaniesRegimeForAccounts
2016-07-01
2017-06-30
06051736
bus:PrivateLimitedCompanyLtd
2016-07-01
2017-06-30
Statement of Consent to Prepare Abridged Financial Statements
|
|
All of the members of Neue Schule Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 June 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
06051736
Unaudited Abridged Financial Statements
|
|
Abridged Financial Statements
|
|
Year ended 30 June 2017
Officers and professional advisers
|
1
|
|
|
Abridged statement of income and retained earnings
|
3
|
|
|
Abridged statement of financial position
|
4
|
|
|
Notes to the abridged financial statements
|
6
|
|
|
The following pages do not form part of the abridged financial statements
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory abridged financial statements
|
12
|
|
|
Officers and Professional Advisers
|
|
The board of directors
|
Dr G H Cross
|
|
Mr S A Mian
|
|
Mrs H J M Hyde-Saddington
|
|
|
Company secretary
|
S J L Cross
|
|
|
Registered office
|
5 Victoria Avenue
|
|
Bishop Auckland
|
|
Co Durham
|
|
England
|
|
DL14 7JH
|
|
|
Accountants
|
G J Jackson Accountants Limited
|
|
Chartered accountant
|
|
5 Victoria Avenue
|
|
Bishop Auckland
|
|
County Durham
|
|
DL14 7JH
|
|
|
Bankers
|
Royal Bank of Scotland
|
|
22 Albert Road
|
|
Middlesbrough
|
|
TS1 1PR
|
|
|
Year ended 30 June 2017
The directors present their report and the unaudited abridged financial statements of the company for the year ended
30 June 2017
.
Directors
The directors who served the company during the year were as follows:
Dr G H Cross
|
|
Mr S A Mian
|
|
Mrs H J M Hyde-Saddington
|
|
|
|
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
19 February 2018
and signed on behalf of the board by:
Dr G H Cross
|
Mr S A Mian
|
Director
|
Director
|
|
|
S J L Cross
|
|
Company Secretary
|
|
|
|
Registered office:
|
5 Victoria Avenue
|
Bishop Auckland
|
Co Durham
|
England
|
DL14 7JH
|
|
Abridged Statement of Income and Retained Earnings
|
|
Year ended 30 June 2017
|
2017
|
2016
|
Note
|
£
|
£
|
Gross profit
|
1,044,251
|
907,709
|
|
|
|
Administrative expenses
|
760,301
|
670,316
|
|
------------
|
---------
|
Operating profit
|
283,950
|
237,393
|
|
|
|
Other interest receivable and similar income
|
13
|
19
|
Interest payable and similar expenses
|
–
|
565
|
|
|
------------
|
---------
|
Profit before taxation
|
5
|
283,963
|
236,847
|
|
|
|
|
Tax on profit
|
41,115
|
12,667
|
|
---------
|
---------
|
Profit for the financial year and total comprehensive income
|
242,848
|
224,180
|
|
---------
|
---------
|
|
|
|
Dividends paid and payable
|
–
|
(
47,500)
|
|
|
|
Retained earnings at the start of the year
|
566,315
|
389,635
|
|
---------
|
---------
|
Retained earnings at the end of the year
|
809,163
|
566,315
|
|
---------
|
---------
|
|
|
|
All the activities of the company are from continuing operations.
Abridged Statement of Financial Position
|
|
30 June 2017
Fixed assets
Intangible assets
|
6
|
|
54,176
|
56,005
|
Tangible assets
|
7
|
|
73,334
|
73,825
|
|
|
---------
|
---------
|
|
|
127,510
|
129,830
|
|
|
|
|
|
Current assets
Stocks
|
401,078
|
|
358,727
|
Debtors
|
411,190
|
|
102,560
|
Cash at bank and in hand
|
44,468
|
|
120,463
|
|
---------
|
|
---------
|
|
856,736
|
|
581,750
|
|
|
|
|
Creditors: amounts falling due within one year
|
174,023
|
|
144,205
|
|
---------
|
|
---------
|
Net current assets
|
|
682,713
|
437,545
|
|
|
---------
|
---------
|
Total assets less current liabilities
|
|
810,223
|
567,375
|
|
|
---------
|
---------
|
Net assets
|
|
810,223
|
567,375
|
|
|
---------
|
---------
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
1,060
|
1,060
|
Profit and loss account
|
|
809,163
|
566,315
|
|
|
---------
|
---------
|
Members funds
|
|
810,223
|
567,375
|
|
|
---------
|
---------
|
|
|
|
|
These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
Abridged Statement of Financial Position (continued)
|
|
30 June 2017
These abridged financial statements were approved by the
board of directors
and authorised for issue on
19 February 2018
, and are signed on behalf of the board by:
Dr G H Cross
|
Mr S A Mian
|
Director
|
Director
|
|
|
Company registration number:
06051736
Notes to the Abridged Financial Statements
|
|
Year ended 30 June 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Victoria Avenue, Bishop Auckland, Co Durham, DL14 7JH, England.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 July 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Patents
|
-
|
5% straight line
|
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
|
Fixtures & Fittings
|
-
|
10% straight line
|
|
Motor Vehicles
|
-
|
25% 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. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
11
(2016:
10
).
5.
Profit before taxation
Profit before taxation is stated after charging:
|
2017
|
2016
|
|
£
|
£
|
Depreciation of tangible assets
|
9,484
|
13,611
|
Impairment of intangible assets
|
3,864
|
3,580
|
|
-------
|
--------
|
|
|
|
6.
Intangible assets
|
£
|
Cost
|
|
At 1 July 2016
|
72,120
|
Additions
|
1,665
|
|
--------
|
At 30 June 2017
|
73,785
|
|
--------
|
Amortisation
|
|
At 1 July 2016
|
16,115
|
Charge for the year
|
3,864
|
Disposals
|
(
370)
|
|
--------
|
At 30 June 2017
|
19,609
|
|
--------
|
Carrying amount
|
|
At 30 June 2017
|
54,176
|
|
--------
|
At 30 June 2016
|
56,005
|
|
--------
|
|
|
7.
Tangible assets
|
£
|
Cost
|
|
At 1 July 2016
|
142,465
|
Additions
|
11,858
|
Disposals
|
(
3,123)
|
|
---------
|
At 30 June 2017
|
151,200
|
|
---------
|
Depreciation
|
|
At 1 July 2016
|
68,640
|
Charge for the year
|
9,484
|
Disposals
|
(
258)
|
|
---------
|
At 30 June 2017
|
77,866
|
|
---------
|
Carrying amount
|
|
At 30 June 2017
|
73,334
|
|
---------
|
At 30 June 2016
|
73,825
|
|
---------
|
|
|
8.
Related party transactions
The company was under the control of H J M Hyde-Saddington who controls 51% of the issued share capital with voting rights. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.
9.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 July 2015.
No transitional adjustments were required in equity or profit or loss for the year.
Year ended 30 June 2017
The following pages do not form part of the abridged financial statements.
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of
Neue Schule Limited
|
|
Year ended 30 June 2017
As described on the abridged statement of financial position, the directors of the company are responsible for the preparation of the abridged financial statements for the year ended 30 June 2017, which comprise the abridged statement of income and retained earnings, abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
G J Jackson Accountants Limited
Chartered accountant
5 Victoria Avenue
Bishop Auckland
County Durham
DL14 7JH
19 February 2018