Academy Class Limited - Filleted accounts

Academy Class Limited
Registered number:		05878400
Balance Sheet
as at 31 December 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		-			9,257

Current assets
Debtors	3	302,965			399,820
Cash at bank and in hand		152,054			34,854
		455,019			434,674

Creditors: amounts falling due within one year	4	(779,609)			(608,417)

Net current liabilities			(324,590)			(173,743)

Net liabilities			(324,590)			(164,486)

Capital and reserves
Called up share capital			10			10
Profit and loss account			(324,600)			(164,496)

Shareholders' funds			(324,590)			(164,486)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr Mark Young
Director
Approved by the board on 7 September 2017

Academy Class Limited
Notes to the Accounts
for the year ended 31 December 2016


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	33% on cost
	Fixtures, fittings, tools and equipment	20% on cost


2	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 January 2016	19,573		192,276		211,849
	Additions	3,050		-		3,050
	Disposals	(5,410)		-		(5,410)
	At 31 December 2016	17,213		192,276		209,489

	Depreciation
	At 1 January 2016	15,326		187,266		202,592
	Charge for the year	1,887		5,010		6,897
	At 31 December 2016	17,213		192,276		209,489

	Net book value
	At 31 December 2016	-		-		-
	At 31 December 2015	4,247		5,010		9,257




3	Debtors			2016		2015
£					£

	Trade debtors			16,134		142,672
	Advance paid to suppliers			49,457		-
	Deferred tax asset			25,283		-
	Other debtors			212,091		257,148
				302,965		399,820


4	Creditors: amounts falling due within one year			2016		2015
£					£

	Deferred income			201,749		-
	Bank loans and overdrafts			24,487		38,866
	Credit cards			7,428		-
	Trade creditors			119,479		458,892
	Accruals			12,535		-
	Other taxes and social security costs			24,564		80,085
	Other creditors			389,367		30,574
				779,609		608,417


5	Other information

	Academy Class Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Elizabeth House
	York Road
	London
	SE1 7NQ