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Registration number: 09189752

Schoolhire Solutions Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

Schoolhire Solutions Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 9

 

Schoolhire Solutions Limited

Company Information

Director

Ian Hazel

Registered office

Highview
Brighton Road
Lower Kingswood
Tadworth
Surrey
KT20 6SX

Accountants

Aughtersons
1 Wheatsheaf Close
Woking
Surrey
GU21 4BL

 

Schoolhire Solutions Limited

(Registration number: 09189752)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible fixed assets

4

3,101

4,133

Current assets

 

Debtors

5

30,026

9,183

Cash at bank and in hand

 

44,214

5,937

 

74,240

15,120

Creditors: Amounts falling due within one year

6

(36,635)

(4,799)

Net current assets

 

37,605

10,321

Total assets less current liabilities

 

40,706

14,454

Creditors: Amounts falling due after more than one year

6

(11,825)

(16,084)

Net assets/(liabilities)

 

28,881

(1,630)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

28,781

(1,730)

Shareholders' funds/(deficit)

 

28,881

(1,630)

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 October 2023
 

 

Schoolhire Solutions Limited

(Registration number: 09189752)
Balance Sheet as at 31 August 2023

.........................................
Ian Hazel
Director

 

Schoolhire Solutions Limited

Statement of Changes in Equity for the Year Ended 31 August 2023

Share capital
£

Retained earnings
£

Total
£

At 1 September 2022

100

(1,730)

(1,630)

Profit for the year

-

67,511

67,511

Dividends

-

(37,000)

(37,000)

At 31 August 2023

100

28,781

28,881

Share capital
£

Retained earnings
£

Total
£

At 1 September 2021

100

17,368

17,468

Loss for the year

-

(3,098)

(3,098)

Dividends

-

(16,000)

(16,000)

At 31 August 2022

100

(1,730)

(1,630)

 

Schoolhire Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Highview
Brighton Road
Lower Kingswood
Tadworth
Surrey
KT20 6SX
England

These financial statements were authorised for issue by the director on 17 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Schoolhire Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible fixed assets

Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Fixtures and fittings

Straight line over seven years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Schoolhire Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2022 - 4).

 

Schoolhire Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

4

Tangible fixed assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2022

9,183

9,183

At 31 August 2023

9,183

9,183

Depreciation

At 1 September 2022

5,050

5,050

Charge for the year

1,032

1,032

At 31 August 2023

6,082

6,082

Carrying amount

At 31 August 2023

3,101

3,101

At 31 August 2022

4,133

4,133

5

Debtors

Current

2023
£

2022
£

Trade debtors

7,966

-

Other debtors

22,060

9,183

 

30,026

9,183

 

Schoolhire Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

(6)

400

Taxation and social security

33,199

3,176

Accruals and deferred income

650

650

Other creditors

2,792

573

36,635

4,799

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11,825

16,084

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Dividends

Interim dividends paid

 

2023
£

2022
£

Interim dividend of £0 (2022 - £160) per each Ordinary share

-

16,000