REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 |
FOR |
PARK HILL SCHOOL LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 |
FOR |
PARK HILL SCHOOL LIMITED |
PARK HILL SCHOOL LIMITED (REGISTERED NUMBER: 02323582) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2021 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
PARK HILL SCHOOL LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2021 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
D S House |
306 High Street |
Croydon |
Surrey |
CR0 1NG |
PARK HILL SCHOOL LIMITED (REGISTERED NUMBER: 02323582) |
STATEMENT OF FINANCIAL POSITION |
31 AUGUST 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Non-distributable reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
PARK HILL SCHOOL LIMITED (REGISTERED NUMBER: 02323582) |
STATEMENT OF FINANCIAL POSITION - continued |
31 AUGUST 2021 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
PARK HILL SCHOOL LIMITED (REGISTERED NUMBER: 02323582) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2021 |
1. | STATUTORY INFORMATION |
Park Hill School 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. |
The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover comprises the value of sales (excluding VAT and similar taxes and trade discounts) of goods and services in the normal course of business. |
Goodwill |
Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses. Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using the straight-line method. The intangible assets are amortised over the following useful economic lives: |
Goodwill over 5 years |
If there is an indication that there has been a significant change in amortisation rate or residual value of an asset, the amortisation of that asset is revised prospectively to reflect the new expectations. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
PARK HILL SCHOOL LIMITED (REGISTERED NUMBER: 02323582) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2021 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. |
Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives at the following rates |
Freehold buildings | 1% on cost |
Equipment, fixtures and fittings | 15% reducing balance |
Motor Vehicles | 25% on cost |
Assets held under finance leases are depreciated in the same way as owned assets. |
At each statement of financial position date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
Taxation |
Taxation represents the sum of tax currently payable and deferred tax. |
The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. |
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
Pension costs and other post-retirement benefits |
The company operates a money purchase pension scheme and the pension charge represents the amounts payable by the company to the fund in the year. |
PARK HILL SCHOOL LIMITED (REGISTERED NUMBER: 02323582) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2021 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
Since 31 December 2019, the spread of COVID-19 has severely impacted many local economies around the globe. In many countries, businesses are being forced to cease or limit operations for long or indefinite periods of time. In the UK this began on 23rd March 2020. Measures taken to contain the spread of the virus, including travel bans, quarantines, social distancing, and closures of non-essential services have triggered significant disruptions to businesses worldwide, resulting in an economic slowdown. Governments and central banks have responded with monetary and fiscal interventions to stabilise economic condition. The company is likely to be affected in the form of loss of income, however it will benefit from savings in costs and therefore this will not significantly impact the entity's financial position. |
The company has determined that these events are non-adjusting subsequent events. Accordingly, the financial position and results of operations as of and for the year ended 31st August 2021 have not been adjusted to reflect their impact. The duration and impact of the COVID-19 pandemic, as well as the effectiveness of government and central bank responses, remains unclear at this time. It is not possible to reliably estimate the duration and severity of these consequences, as well as their impact on the financial position and results of the company for future periods. |
As part of the directors' assessment of going concern, they have prepared detailed cash flow and profit and loss forecasts for the next 12 months. The forecasts have been prepared on an appropriate basis, taking into account the current economic conditions that exist. |
After making appropriate enquires, the directors have a reasonable expectation that the company has adequate resources to enable it to continue in operational existence for the foreseeable future. They believe it is appropriate to prepare the accounts on a going concern basis. |
Revaluation of tangible fixed assets |
Fixed Assets are recognised initially at cost and subsequently at market value based on the amount at which the asset could be exchanged between knowledgeable parties at arm's-length. Land is not depreciated. Properties are revalued according to market conditions at the year-end. Unrealised gains and losses on revaluation is only realised on disposal of the asset. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 September 2020 |
and 31 August 2021 |
AMORTISATION |
At 1 September 2020 |
and 31 August 2021 |
NET BOOK VALUE |
At 31 August 2021 |
At 31 August 2020 |
PARK HILL SCHOOL LIMITED (REGISTERED NUMBER: 02323582) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2021 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 September 2020 |
Additions |
At 31 August 2021 |
DEPRECIATION |
At 1 September 2020 |
Charge for year |
At 31 August 2021 |
NET BOOK VALUE |
At 31 August 2021 |
At 31 August 2020 |
The freehold properties were valued on an open market basis on 31st August 2021 by the director. |
Revaluations are shown through the Income Statement and deferred tax is calculated on these as appropriate. |
Any unrealised gains/losses on the revaluation of properties are shown in a non-distributable reserve on the Statement of Financial Position. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Amounts owed to associates | 417,890 | - |
Taxation and social security |
Other creditors |
PARK HILL SCHOOL LIMITED (REGISTERED NUMBER: 02323582) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2021 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Other creditors |
9. | RESERVES |
Non-distribut |
reserve |
£ |
At 1 September 2020 |
and 31 August 2021 |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Mrs S Mehta, who controls the ultimate parent company, Tradetower Ltd. Tradetower Ltd owns 100% shareholding of Park Hill School Limited. Both Tradetower Ltd and Park Hill School Limited are incorporated in England. |