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REGISTERED NUMBER: 06420830 (England and Wales)
















Financial Statements

for the Year Ended 30 November 2017

for

Academy Schoolwear Limited

Academy Schoolwear Limited (Registered number: 06420830)






Contents of the Financial Statements
for the Year Ended 30 November 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Academy Schoolwear Limited

Company Information
for the Year Ended 30 November 2017







DIRECTORS: A P Anderson
J R Anderson





SECRETARY: A P Anderson





REGISTERED OFFICE: Castle Eden Studios
Stockton Road
Castle Eden
Hartlepool
Cleveland
TS27 4SD





REGISTERED NUMBER: 06420830 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

Academy Schoolwear Limited (Registered number: 06420830)

Balance Sheet
30 November 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,471 -
2,471 -

CURRENT ASSETS
Stocks 10,440 31,860
Debtors 6 24,061 27,028
Cash at bank 4,185 6,058
38,686 64,946
CREDITORS
Amounts falling due within one year 7 17,372 72,282
NET CURRENT ASSETS/(LIABILITIES) 21,314 (7,336 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,785

(7,336

)

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 23,685 (7,436 )
SHAREHOLDERS' FUNDS 23,785 (7,336 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 29 August 2018 and were signed on its behalf by:




A P Anderson - Director


Academy Schoolwear Limited (Registered number: 06420830)

Notes to the Financial Statements
for the Year Ended 30 November 2017

1. STATUTORY INFORMATION

Academy Schoolwear Limited is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities"
of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost
convention.

There were no material departures from that standard.

These financial statements for the year ended 30 November 2017 are the first financial statements that comply
with FRS 102 Section 1A small entities. The date of transition is 1 December 2015.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,
except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.


Academy Schoolwear Limited (Registered number: 06420830)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2017

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2016
and 30 November 2017 6,080
AMORTISATION
At 1 December 2016
and 30 November 2017 6,080
NET BOOK VALUE
At 30 November 2017 -
At 30 November 2016 -

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2016 7,000 - 7,000
Additions - 2,524 2,524
Disposals (7,000 ) - (7,000 )
At 30 November 2017 - 2,524 2,524
DEPRECIATION
At 1 December 2016 7,000 - 7,000
Charge for year - 53 53
Eliminated on disposal (7,000 ) - (7,000 )
At 30 November 2017 - 53 53
NET BOOK VALUE
At 30 November 2017 - 2,471 2,471
At 30 November 2016 - - -

Academy Schoolwear Limited (Registered number: 06420830)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2017

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 8,369 9,687
Other debtors 14,691 3,691
VAT 448 -
Corporation tax 553 -
Directors' current accounts - 13,650
24,061 27,028

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade creditors 9,464 11,878
Corporation tax 3,691 4,244
Social security and other taxes - 115
Other creditors 1,680 53,545
Directors' current accounts 37 -
Accruals and deferred income 2,500 2,500
17,372 72,282

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2017 2016
£    £   
Within one year 7,610 7,610
Between one and five years 1,903 9,513
9,513 17,123

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2017 2016
value: £    £   
100 Ordinary £1 100 100

Academy Schoolwear Limited (Registered number: 06420830)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2017

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2017 and
30 November 2016:

2017 2016
£    £   
A P Anderson and J R Anderson
Balance outstanding at start of year 13,650 11,518
Amounts advanced 163 7,132
Amounts repaid (13,850 ) (5,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (37 ) 13,650

11. RELATED PARTY DISCLOSURES

There were no related party transactions other than those concluded under normal market conditions other than
those detailed below:
2017 2016

Amounts owed (to)/from directors (37 ) 13,650
No interest was charged.

12. FIRST YEAR ADOPTION

The company has adopted FRS 102 Section 1A for the year ended 30 November 2017. No adjustments were
required upon transition.