Kingsland College Ltd Financial Statements For The Year Ended 28

KINGSLAND COLLEGE LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009 UTR: 36216 16165 Co: 6084725

Prepared by:

S O TUDOR & CO FINANCIAL & MANAGEMENT ACCOUNTANTS 4 BUTTERMERE CLOSE HALL ROAD STRATFORD LONDON E15 2DN T : 020 8534 1630 M: 07956 846 118 www.sotudoraccts.com

25970015.xls

Prepared by S O Tudor and Co

MR Financial Statements for the Year Ended 5 April 2009 Profit & Loss Account for the period Ended 5 April 2008 £

£

Sales for the Year

-

Less: Direct Expenses

Direct Costs

-

Gross Profit

-

Less Overheads: Rent & Rates Heat, Light & Power Water & Sewerage Motor Expenses Printing & Stationery Professional Fees Telephone & Telegraph Depreciation Taxation General Expenses

-

Total Overhead Costs

-

Net Profit for the Year

-

The above Profit & Loss Account has been prepared based on the information given to us by Mr James C Gray

Approved:

on Mr James C Gray

Date

S O Tudor & Co (Financial & Management Accountants)

25970015.xls

Sheet 2 of 6

Prepared by S O Tudor and Co

Mr Financial Statements for the Year Ended 5 April 2009 Profit & Loss Account for the Period Ended 5 April 2008 Accumulated Cost

Dep £

Fixed Assets: Office Equipment Furniture & Fittings Information Technology Motor Vehicles

NBV £

£

-

-

-

-

-

Current Assets Stock Debtors Deposits & Cash Current Liabilities Short-Term Creditors Bank Overdraft Current Assets less Current Liabilities

-

Total Assets less Current Liabilities

-

Long-Term Liabilities Total Assets less Total Liabilities Capital & Reserves Capital Reserves P & L Accounts

-

-

The above Balance Sheet summary has been prepared based on the information given to us by Mr James C Gray

Approved:

on Mr James C Gray

25970015.xls

Date Sheet 3 of 6

Prepared by S O Tudor and Co

Mr Financial Statements for the Year Ended 5 April 2009 INCOME TAX COMPUTATION £ Net Profit Per P & L account Add: Telephone Motor Expenses Depreciation

(P/U) (P/U)

-

> Adjusted in records > Net > Adjusted in records > Net

Adjusted Profit & Loss Account

-

CAPITAL ALLOWANCE COMPUTATION 2005/06 O/Equip

Car

F&F

Claim

Twdv Disposals: Plant Car IT -

-

-

Additions: IT

-

Sub-Toals

-

-

-

WDA @ 25%

-

-

-

-

-

-

-

-

WDA @ 100% Twdv c/fwd

25970015.xls

-

-

Less: Personal Use - Car

-

Adjusted Capital Allowances for the year

-

Sheet 4 of 6

Prepared by S O Tudor and Co

Mr Financial Statements for the Year Ended 5 April 2009 £ Self-Employment Statement Less: Capital Allowances

-

Adjusted Profit & Loss Account

-

ASSESSABLE INCOME Less:

£

-

Personal Allowance

5,225

TAXABLE INCOME

(5,225)

Tax Liabilities:

% 2,230

£ 10 22

£ 223.00 -

223 -

2,230 TOTAL FOR INCOME TAX

223.00 £

Add:

Class 4 National Insurance Profit Lower Limit (Upper Limit £34,840) Chargeable for NIC

(5,225)

NIC @ 8%

(418.00)

TOTAL TAX LIABILITY

(195.00)

Less:

Tax Deducted @ Source (eg CIS25)

TAX LIABILITY FOR 2007/08 Tax Paid @ Source

(195.00) -

TAX DUE FROM (TO) TAXPAYER

25970015.xls

5,225

Sheet 5 of 6

(195.00)

Prepared by S O Tudor and Co

Breakdown Description In Out Balance Wages ConsultancyTraining Rent Bonuses Charges AdvertisingTotal Opening Balance £120.00 £0.00 8/1/2008 Skills Training £4,000.00 £4,120.00 £0.00 8/15/2008 000061 Marc Brown £400.00 £3,720.00 £400.00 £400.00 8/26/2008 000062 Russell Ubah £2,000.00 £1,720.00 £1,400.00 £600.00 £2,000.00 8/27/2008 000063 Marc Brown £500.00 £1,220.00 £500.00 £500.00 8/28/2008 000051 Skills Training £5,875.00 £7,095.00 £0.00 9/1/2008 000064 Julia Shinton £2,400.00 £4,695.00 £2,400.00 £2,400.00 9/26/2008 010671 A-Mark INT £5,000.00 £9,695.00 £0.00 9/26/2008 000065 Kamel Hachouf £1,000.00 £8,695.00 £1,000.00 £1,000.00 9/26/2008 000066 Russell Ubah £2,500.00 £6,195.00 £2,500.00 £2,500.00 9/26/2008 000067 Kamel Hachouf £1,000.00 £5,195.00 £1,000.00 £1,000.00 10/3/2008 000068 Kamel Hachouf £500.00 £4,695.00 £500.00 £500.00 10/3/2008 000069 Russell Ubah £1,400.00 £3,295.00 £1,400.00 £1,400.00 10/20/2008 000070 Marc Brown £500.00 £2,795.00 £500.00 £500.00 10/20/2008 000071 Marc Brown £230.00 £2,565.00 £230.00 £230.00 10/22/2008 000052 Skills Training £6,815.00 £9,380.00 £0.00 10/27/2008 000072 Kamel Hachouf £2,500.00 £6,880.00 £2,500.00 £2,500.00 10/29/2008 000073 Russell Ubah £3,900.00 £2,980.00 £3,900.00 £3,900.00 10/31/2008 000074 Eniola Robbin £2,333.33 £646.67 £2,333.33 £2,333.33 11/5/2008 000075 Julia Shinton £1,200.00 -£553.33 £1,200.00 £1,200.00 11/10/2008 010672 A-Mark INT £6,553.85 £6,000.52 £0.00 11/28/2008 000076 Eniola Robbin £2,153.88 £3,846.64 £2,153.88 £2,153.88 11/28/2008 000077 Russell Ubah £800.00 £3,046.64 £800.00 £800.00 11/28/2008 000078 Kamel Hachouf £2,500.00 £546.64 £2,500.00 £2,500.00 11/28/2008 Charge Bank Charge £22.50 £524.14 £22.50 £22.50 12/1/2008 010673 A-Mark INT £6,953.85 £7,477.99 £0.00 12/2/2008 000079 Russell Ubah £2,500.00 £4,977.99 £2,500.00 £2,500.00 12/3/2008 000080 Excalibur Accountants £201.25 £4,776.74 £201.25 £201.25 12/5/2008 000081 Julia Shinton £1,272.00 £3,504.74 £1,272.00 £1,272.00 12/23/2008 Skills Training £2,350.00 £5,854.74 £0.00 12/23/2008 000082 Marc Brown £200.00 £5,654.74 £200.00 £200.00 1/16/2009 000083 Russell Ubah £800.00 £4,854.74 £800.00 £800.00 1/16/2009 000084 Kamel Hachouf £800.00 £4,054.74 £800.00 £800.00 2/26/2009 000085 CRTS Training £500.00 £3,554.74 £500.00 £500.00 3/31/2009 Bank Charge £1.88 £3,552.86 £1.88 £1.88 £3,552.86 £0.00 Total £37,547.70 £34,114.84 £3,552.86 £8,300.00 £6,518.46 £5,372.00 £13,300.00 £0.00 £24.38 £600.00 £34,114.84

Date

Kam tax

Ref

8300

2489.78 10400 2950.76 13350.76

2nd floor 3rd floor Weekly Rent Weekly Rates

436.51

25970015.xls

Sheet 6 of 6

109.13

14300

949.24

474.62

36.51

Prepared by S O Tudor and Co

MR Financial Statements for the Year Ended 5 April 2009 Net Relevant Earnings (NRE) Net Earnings from Employment £

£

£

Gross Salary or Wages from P60 or P45 Less:

PAYE on P45 or P60 National Insurance Deductions

-

Union Dues

Sub-Total for Deductions

-

NET EMPLOYMENT INCOME

-

Net Earnings from Self-Employment

Total Sales for the period 6 April to 2003 to 5 April 2004 Less:

Business Expenses as per Accounts Sub-Total for Deductions Reported Profits

Add back:

-

National Insurance Paid - Class 2

-

National Insurance Paid - Classes 3 & 4

-

Goods taken by proprietor for own use

-

Drawings

-

Income Tax Payments

-

Depreciation less Capital Allowances

-

Total Amounts Added Back ADJUSTED NET EARNINGS TOTAL NET RELEVANT EARNINGS

25970015.xls

-

Supporting Sheet 1 of 16

-

Prepared by S O Tudor and Co

MR Financial Statements for the Year Ended 5 April 2009 £

£

Total Overhead Expenses from P & L Statement

-

Add Back:

-

Depreciation SUB-TOTAL

Deduct

-

CAs

-

HMRC ALLOWED OVERHEAD EXPENSES

-

**

Deuct All Separately Reported Expenses on Form Accountancy/Legal

-

Car, Van & Travel Expenses - ** Financial chages - eg bank Chgs

-

Wages/Salaries & Staff Costs

-

-

Tel, Fax, Stationery & Office cost Rent, Rates, power & Insurance Costs Repairs & Renewals **

Add Back CAs counted twice

-

-

-

0 *2

-

RESIDUE REPORTED AS OTHERS (GENERAL)

-

RECONCILIATION Sales or Turnover Less:

-

Cost of Sales Overhead Expenses

-

NET PROFIT FOR TAX REPORTING

25970015.xls

Supporting Sheet 2 of 16

-

Prepared by S O Tudor and Co

MR Financial Statements for the Year Ended 5 April 2009 £ Self-Employment Statement Less: Capital Allowances

-

Adjusted Profit & Loss Account

-

ASSESSABLE INCOME Less:

£

-

Personal Allowance

5,225.00

TAXABLE INCOME

(5,225.00)

Tax Liabilities:

% 2,230.00

10 22

£ 223.00 -

£ 223.00 -

2,230.00 TOTAL FOR INCOME TAX

223.00 £

Add:

Class 4 National Insurance Profit Lower Limit (Upper Limit £34,800) Chargeable for NIC

(5,225.00)

NIC @ 8%

(418.00)

TOTAL TAX LIABILITY

(195.00)

Less:

Tax Deducted @ Source (eg CIS25)

TAX LIABILITY FOR 2007/2008 Tax Paid @ Source

(195.00) -

TAX DUE FROM (TO) TAXPAYER

25970015.xls

5,225.00

Supporting Sheet 3 of 16

(195.00)

Prepared by S O Tudor and Co

MR JAMES C GRAY

MR

Financial Statements for the Year Ended 5 April 2008

Financial Statements for the Year Ended 5 April 2009 Office Equipment

0

F&F

IT

MV

-

0

-

Balances 2002/03 Balance

-

2003/04

-

-

-

Balance

-

-

-

2004/05

-

-

-

Balance

-

-

2005/06

-

-

-

Balance

-

-

-

2006/07

-

-

-

Balance

-

-

-

2007/08

-

-

-

-

-

-

25970015.xls

Supporting Sheet 4 of 16

-

-

Prepared by S O Tudor and Co

MR Financial Statements for the Year Ended 5 April 2009 £ Self-Employment NIC 08/04/07 to 08/07/07 to 07/10/07 to 06/01/08 to

£ -

07/07/07 06/10/07 05/01/08 05/04/08 TOTAL

-

GRAND TOTAL

-

Direct Expenses: Advertising, etc..

25970015.xls

Supporting Sheet 5 of 16

Prepared by S O Tudor and Co

MR Financial Statements for the Year Ended 5 April 2009 £

£

Office Rent & Rates Invoice 1,198.95 x

12 Sub-Total

-

Rates & Council Tax: 8-Jan-07

Council Tax (check if not already reported) Sub-Total TOTAL FOR THE YEAR

Less:

Personal element

(3 BRms, 1 Kitchen, 1 LvngRm

ADJUSTED TOTAL FOR ACCOUNTS

25970015.xls

Supporting Sheet 6 of 16

-

-

-

Prepared by S O Tudor and Co

MR Financial Statements for the Year Ended 5 April 2009 £

£

Electricity: First Quarter

(April - June 2007)

Second Quarter (July - August 2007)

*

Third Quarter

(September - December 2007)

*

Fourth Quarter

(January- March 2008)

*

Sub-Total

Gas:

*

First Quarter

-

(April - June 2007)

-

*

Second Quarter (July - August 2007)

*

Third Quarter

(September - December 2007)

*

Fourth Quarter

(January- March 2008)

*

Sub-Total

-

-

Less Personal use Business Element *

Estimated amount as client gave approximation costs

NOTE: Charity organisation in UK claim that citizens spend 10% (on the average) on electricity and gas bills. 10% of 18711.00 = £1871.10. Implied £1,163.97 is within.

25970015.xls

-

Supporting Sheet 7 of 16

-

Prepared by S O Tudor and Co

MR Financial Statements for the Year Ended 5 April 2009 £

£

Water First Quarter

(April - June 2007)

*

Second Quarter (July - August 2007) Third Quarter

(September - December 2007)

Fourth Quarter

January- March 2008) Sub-Total

Sewerage

First Quarter

*

* -

(April - June 2007)

*

Second Quarter (July - August 2007) Third Quarter

(September - December 2007)

Fourth Quarter

January- March 2008) Sub-Total

Business Element

25970015.xls

*

* -

-

Less Personal use

*

-

Estimated amount as client gave approximation costs

Supporting Sheet 8 of 16

-

Prepared by S O Tudor and Co

MR Financial Statements for the Year Ended 5 April 2009 £

£

Car Cost Road Tax

13-Aug-07 8-Jan-08

Post Office - Harrow Green LBWF - 681060 TOTAL

-

Congestion Chgs + Parking Penalties

Fuel 16-Apr-07 Diesel 4-May-07 Diesel 8-May-07 Diesel 8-May-07 Diesel 12-May-07 Diesel 15-May-07 Diesel 16-May-07 Diesel 18-May-07 Diesel 21-May-07 Diesel 23-May-07 Diesel 24-May-07 Diesel 25-May-07 Diesel 28-May-07 Diesel 29-May-07 Diesel 31-May-07 Diesel 3-Jun-07 Diesel 4-Jun-07 Diesel 6-Jun-07 Diesel 9-Jun-07 Diesel 11-Jun-07 Diesel 13-Jun-07 Diesel 15-Jun-07 Diesel 16-Jun-07 Diesel 19-Jun-07 Diesel 20-Jun-07 Diesel 22-Jun-07 Diesel 23-Jun-07 Diesel 24-Jun-07 Diesel 25-Jun-07 Diesel 26-Jun-07 Diesel 26-Jun-07 Diesel 27-Jun-07 Diesel 28-Jun-07 Diesel Date? 30-Jun-07 Diesel 2-Jul-07 Diesel 4-Jul-07 Diesel 6-Jul-07 Diesel 10-Jul-07 Diesel 14-Jul-07 Diesel 16-Jul-07 Diesel 20-Jul-07 Diesel 22-Jul-07 Diesel 24-Jul-07 Diesel 26-Jul-07 Diesel 29-Jul-07 Diesel Date? 29-Jul-07 Diesel 5-Aug-07 Diesel 9-Aug-07 Diesel 11-Aug-07 Diesel 13-Aug-07 Diesel 15-Aug-07 Diesel 18-Aug-07 Diesel 21-Aug-07 Diesel 23-Aug-07 Diesel 25-Aug-07 Diesel 2-Sep-07 Diesel 10-Sep-07 Diesel 12-Sep-07 Diesel 15-Sep-07 Diesel 19-Sep-07 Diesel 20-Sep-07 Diesel 24-Sep-07 Diesel 26-Sep-07 Diesel 27-Sep-07 Diesel 1-Oct-07 Diesel 3-Oct-07 Diesel 6-Oct-07 Diesel 9-Oct-07 Diesel 10-Oct-07 Diesel 11-Oct-07 Diesel 15-Oct-07 Diesel 16-Oct-07 Diesel 17-Oct-07 Diesel 18-Oct-07 Diesel 19-Oct-07 Diesel 20-Oct-07 Diesel 23-Oct-07 Diesel 25-Oct-07 Diesel 28-Oct-07 Diesel 31-Oct-07 Diesel 2-Nov-07 Diesel 5-Nov-07 Diesel 9-Nov-07 Diesel 17-Nov-07 Diesel 24-Nov-07 Diesel 24-Nov-07 Diesel 25-Nov-07 Diesel 27-Nov-07 Diesel 28-Nov-07 Diesel 3-Dec-07 Diesel 4-Dec-07 Diesel 7-Dec-07 Diesel 8-Dec-07 Diesel 9-Dec-07 Diesel 10-Dec-07 Diesel 11-Dec-07 Diesel 12-Dec-07 Diesel 13-Dec-07 Diesel 14-Dec-07 Diesel 14-Dec-07 Diesel 16-Dec-07 Diesel 19-Dec-07 Diesel 21-Dec-07 Diesel 24-Dec-07 Diesel 24-Dec-07 Diesel 29-Dec-07 Diesel 29-Dec-07 Diesel 30-Dec-07 Diesel 31-Dec-07 Diesel 2-Jan-08 Diesel 2-Jan-08 Diesel 4-Jan-08 Unleaded 5-Jan-08 Unleaded 7-Jan-08 Unleaded 9-Jan-08 Unleaded 11-Jan-08 Unleaded 11-Jan-08 Unleaded 14-Jan-08 Unleaded 16-Jan-08 Unleaded 18-Jan-08 Unleaded 19-Jan-08 Unleaded 23-Jan-08 Unleaded 26-Jan-08 Unleaded 28-Jan-08 Unleaded 28-Jan-08 Unleaded 30-Jan-08 Unleaded 1-Feb-08 Unleaded 3-Feb-08 Unleaded 4-Feb-08 Unleaded 8-Feb-08 Unleaded 9-Feb-08 Unleaded 11-Feb-08 Unleaded 11-Feb-08 Unleaded 12-Feb-08 Unleaded 12-Feb-08 Unleaded 13-Feb-08 Unleaded 15-Feb-08 Unleaded 15-Feb-08 Unleaded 16-Feb-08 Unleaded 17-Feb-08 Unleaded 18-Feb-08 Unleaded 18-Feb-08 Unleaded 18-Feb-08 Unleaded 20-Feb-08 Unleaded 22-Feb-08 Unleaded 22-Feb-08 Unleaded 23-Feb-08 Unleaded 25-Feb-08 Unleaded 26-Feb-08 Unleaded 27-Feb-08 Unleaded 28-Feb-08 Unleaded 29-Feb-08 Unleaded 3-Mar-08 Unleaded 3-Mar-08 Unleaded 4-Mar-08 Unleaded 5-Mar-08 Unleaded 7-Mar-08 Unleaded 8-Mar-08 Unleaded 10-Mar-08 Unleaded 11-Mar-08 Unleaded 12-Mar-08 Unleaded 13-Mar-08 Unleaded 14-Mar-08 Unleaded 19-Mar-08 Unleaded 22-Mar-08 Unleaded 27-Mar-08 Unleaded 29-Mar-08 Unleaded

31.5.06 Newham Count PCN NE36929858 26.6.07 Hackney Parking Services PCN HK08523617 23.8.07 Islington Parking Finance - PCN12335832 28.8.07 Islington Parking Finance - PCN12384146 31.8.07 Islington Parking Finance - PCN12354655 24.9.07 Congestion Chg - Transport for London 27.12.07 Waltham Forest PCN WF77406414 4.1.08 Waltham Forest PCN WF77487700 26.2.08 Transport for London PCN GF25087145

-

TOTAL

-

TOTAL

-

Insurance:

Repair & Maintenance 18-May-07 Clarkins Car Accessories 2-Jun-07 Clarkins Car Accessories 26-Jun-07 London Fields Cycles 1-Jul-07 Clarkins Car Accessories 11-Jul-07 Exhausts Unlimited 30-Nov-07 Clarkins Car Accessories Congestion Charges/Parking Chgs See total above

-

TOTAL FOR TOTAL THE YEAR Less:

Personal Element

Congestion Chgs, etc. Insurance Road Tax Repairs Fuel

-

ADJUSTED TOTAL

25970015.xls

-

Supporting Sheet 9 of 16

Prepared by S O Tudor and Co

MR Financial Statements for the Year Ended 5 April 2009 £

£

Stationery: 9-Dec-01 Extension Wire - 99p Store 16-Jun-07 Matchbench Ltd - Cash Sale 17-Oct-07 Builders Merchant (Stamford Hill) Ltd 7-Aug-07 Matchbench Ltd - Cash Sale 2-Jun-07 Matchbench Ltd - Cash Sale 9-Dec-01 9-Dec-01

Sub-Total

-

Stamps & Postage -

25970015.xls

Sub-Total

-

TOTAL

-

Supporting Sheet 10 of 16

Prepared by S O Tudor and Co

MR Financial Statements for the Year Ended 5 April 2009 £ Accounting & Bookkeeping: K. M. S. Accountants & Tax Consultants Invoice

£ -

Legal

-

TOTAL

25970015.xls

Supporting Sheet 11 of 16

-

Prepared by S O Tudor and Co

MR Financial Statements for the Year Ended 5 April 2009 £ Orange Mobile: 5-Apr-07 5-May-07 5-Jun-07 5-Jul-07 5-Aug-07 5-Sep-07 5-Oct-07 5-Nov-07 5-Dec-07 5-Jan-08 5-Feb-08 5-Mar-08

£

£

(75% Business, 25% Private) Monthly Bill Monthly Bill Monthly Bill Monthly Bill Monthly Bill Monthly Bill Monthly Bill Monthly Bill Monthly Bill Monthly Bill Monthly Bill Monthly Bill

x x x x x x x x x x x x

0.75 0.75 0.75 0.75 0.75 0.75 0.75 0.75 0.75 0.75 0.75 0.75

TOTAL

-

22-Mar-07 Top-Up 27-Mar-07 Top-Up 22-Mar-07 Top-Up 10-Nov-06 10-Nov-06 10-Nov-06 10-Nov-06 10-Nov-06 10-Nov-06

-

GRAND TOTAL

25970015.xls

Supporting Sheet 12 of 16

-

Prepared by S O Tudor and Co

MR Financial Statements for the Year Ended 5 April 2009 £

£ Prv Dprn

£ Current

£ Cum Dprn

Plant & Mechinery Balance b/fwd Additions 28/05/04 Tripod 31/03/05 Video Camera $1,019/1.6 plus £100.00) IT Equipment

Balance b/fwd

Additions:

Furniture & Fitting

-

Balance b/fwd ToTAL

-

-

-

-

-

-

-

Motor Vehicle

Balance b/fwd Personal Element Total

25970015.xls

Supporting Sheet 13 of 16

-

Prepared by S O Tudor and Co

MR Financial Statements for the Year Ended 5 April 2009 £ Bank Charges

£ -

Bank Charges Bank Charges Bank Charges Bank Charges

Difference

-

Other Taxes

-

TAX PAID FOR THE YEAR

TOTAL

25970015.xls

Supporting Sheet 14 of 16

-

-

-

Prepared by S O Tudor and Co

MR Financial Statements for the Year Ended 5 April 2009 £

£

Miscellanous T & T 2.8.07 3.8.07 29.8.07 3.2.08

Bus Pass Bus Pass Bus Pass Client entertainment

TOTAL

25970015.xls

Supporting Sheet 15 of 16

-

Prepared by S O Tudor and Co

MR Financial Statements for the Year Ended 5 April 2009 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Supporting Sheet 16 of 16