Anglia Regional Theatre School Ltd
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For the year ended 31 May 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 07514558
Anglia Regional Theatre School Ltd
For the year ended 31 May 2016
1
Accountants' Report
2
Balance Sheet
3 to 5
Notes to the Abbreviated Financial Statements
Anglia Regional Theatre School Ltd
Accountants' Report
For the year ended 31 May 2016
In order to assist you to fulfil your duties under Companies Act
2006
,
we have prepared for your approval the accounts of
|
Anglia Regional Theatre School Ltd for the year ended
31
May
2016
which comprise the Profit and Loss Account
,
the
|
Balance Sheet and the related notes from the company
'
s accounting records and from information and explanations you
|
have given us
.
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As a practising firm of the Association of Chartered Certified Accountants
,
we are subject to its ethical and other
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professional requirements which are detailed at http
://
rulebook
.
accaglobal
.
com
.
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This report is made solely to the Board of Directors of Anglia Regional Theatre School Ltd
.
Our work has been undertaken
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solely to prepare for your approval the accounts of Anglia Regional Theatre School Ltd and state those matters that we have
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agreed to state to the Board of Directors of Anglia Regional Theatre School Ltd
,
as a body
,
in this report in accordance with
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the requirements of the Association of Chartered Certified Accountants and as detailed at
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http
://
www
.
accaglobal
.
com
/
factsheet
163
.
To the fullest extent permitted by law
,
we do not accept or assume responsibility to
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anyone other than Anglia Regional Theatre School Ltd and its Board of Directors as a body for our work or for this report
.
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It is your duty to ensure that Anglia Regional Theatre School Ltd has kept adequate accounting records and to prepare
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statutory accounts that give a true and fair view of the assets
,
liabilities
,
financial position and profit of Anglia Regional
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Theatre School Ltd
.
You consider that Anglia Regional Theatre School Ltd is exempt from the statutory audit requirement for
|
the year
.
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Steve Pye & Co.
Chartered Certified Accountants
The Pink House
Estuary Road
King's Lynn
PE30 2HJ
25 October 2016
1 of 5
Abbreviated Balance Sheet
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Anglia Regional Theatre School Ltd
2016
2015
2
15,000
16,000
3
8,916
9,451
23,916
25,451
2,815
2,955
3,568
7,163
29,219
27,112
39,337
33,495
Creditors
:
amounts falling due within one year
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(56,208)
(51,318)
(22,713)
(11,981)
Net current liabilities
Total assets less current liabilities
|
11,935
2,738
(803)
(802)
Provisions for liabilities
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11,132
Net assets
1,936
2
4
2
11,130
1,934
11,132
1,936
Shareholders funds
For the year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
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2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
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Date approved by the board: 25 October 2016
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Signed on behalf of the board of directors
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2 of 5
Notes to the Abbreviated Financial Statements
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Anglia Regional Theatre School Ltd
For the year ended 31 May 2016
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Trust The company has created a trust whose beneficiaries will include employees of the Company and their dependents. Assets held under this trust will be controlled by trustees who will act independently and entirely at their own discretion.Where assets are held in the trust and these are considered by the Company to be in respect of services already provided by employees of the Company, the Company will account for these as assets of the trust when payment is made to the trust.The value transferred will be charged in the Company's profit and loss account for the period to which it relates.
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Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
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Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the
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shareholders prior to the balance sheet date
.
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Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
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Acquired goodwill is stated at cost less amortisation
.
Amortisation is calculated on a straight line basis over the estimated
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expected useful economic life of the goodwill of
20
years
.
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Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
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3 of 5
Notes to the Abbreviated Financial Statements
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Anglia Regional Theatre School Ltd
For the year ended 31 May 2016
Short Leasehold
Leasehold property improvement
Fixtures and Fittings
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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2
Intangible fixed assets
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20,000
20,000
4,000
1,000
Charge for year
5,000
15,000
16,000
17,938
1,577
19,515
8,487
2,112
Charge for year
10,599
8,916
9,451
4 of 5
Notes to the Abbreviated Financial Statements
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Anglia Regional Theatre School Ltd
For the year ended 31 May 2016
Allotted called up and fully paid
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2016
2015
2
Ordinary Shares shares of £
1
.
00
each
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2
2
2
2
5 of 5