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REGISTERED NUMBER: 05957737 (England and Wales)











STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

CALCOT SERVICES FOR CHILDREN LIMITED

CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 10

Balance Sheet 12

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 17


CALCOT SERVICES FOR CHILDREN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: S Singh
H Singh





SECRETARY: H Singh





REGISTERED OFFICE: Advantage
87 Castle Street
Reading
Berkshire
RG1 7SN





REGISTERED NUMBER: 05957737 (England and Wales)





AUDITORS: Haines Watts
Chartered Accountants and Statutory Auditors
The Lightbox
87 Castle Street
Reading
Berkshire
RG1 7SN

CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2022


The directors present their strategic report for the year ended 31 March 2022.

The journey of Calcot Services for Children began 33 years ago with a simple ethos 'to provide children and young people in care with safe and nurturing homes in which they can heal from the trauma caused by abuse'.

We now have homes and schools in Berkshire, Hampshire, South Oxfordshire and Buckinghamshire.

Over the last 33 years we have worked tirelessly to develop our service to achieve placement goals and the best possible outcomes for our children and young people and these have been recognised and celebrated by placing authorities, Ofsted, their families, external agencies, awarding bodies and within the sector.

Our service has flourished over the last few years as demand for care and education continued to grow. We have been very careful in considering our development ensuring that our high standards are not compromised.

REVIEW OF BUSINESS
During the year the company transferred its educational division to another entity to focus on its primary activity, and this is noted in the accounts as a discontinued operation.

Future plans
The plans for future growth include expanding our therapeutic services to include equine therapy, agricultural activities and extending our workshops to enhance our educational provision.

We will also continue to grow our therapeutic community with an organic and measured strategy enabling the professional development of our team.


CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2022

PRINCIPAL RISKS AND UNCERTAINTIES
Financial risks
The company's activities expose it to a number of financial risks including credit risk and liquidity risk.

Credit risk
The company's principal financial assets are bank balances, trade and other receivables.

The company credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables, estimated by the company's management based on prior experience and their assessment of the current economic climate.

The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings.

Liquidity risk
The company has continued to maintain liquidity and sufficient working capital for its ongoing operations and future developments.

Operational risks
The company's activities expose it to a number of operational risks including reputational risk and regulatory risk.

Reputational risk
The company is focused on providing care to children with emotional, learning, social and behavioural difficulties. Any serious incident relating to the provision of care services could result in negative publicity and may result in an increase in scrutiny from regulators.

In order to mitigate this risk the company delivers employee training through specific learning and development programmes, in additional the company carries out a Disclosure and Barring Service check on all care staff and constantly monitors compliance.

Regulatory risk
The company's operations are are subject to an increasingly high level of regulation and scrutiny by various regulators in the UK. Failure to meet national regulations could lead to a service being placed under special measures, being subject to enforcement notices or possibly forced to close. The CQC also have the power to issue fines and prosecute.

In order to mitigate this risk the company has a dedicated compliance department that manages regulatory matters.

KEY PERFORMANCE INDICATORS
The company considers turnover and gross profit to be the key indicators of its performance.

ON BEHALF OF THE BOARD:





H Singh - Director


16 October 2023

CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2022


The directors present their report with the financial statements of the company for the year ended 31 March 2022.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of The principal activity of the company in the year under review was that of the provision of residential care homes for children and young adults.

DIVIDENDS

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2021 to the date of this report.

S Singh
H Singh

POLITICAL DONATIONS AND EXPENDITURE
There have been no political donations during the year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2022


AUDITORS
The auditors, Haines Watts, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





H Singh - Director


16 October 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CALCOT SERVICES FOR CHILDREN LIMITED


Opinion
We have audited the financial statements of Calcot Services For Children Limited (the 'company') for the year ended 31 March 2022 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2022 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

However, not all future events or conditions can be predicted. The COVID-19 viral pandemic is one of the most significant economic events for the UK with unprecedented levels of uncertainty of outcomes. It is therefore difficult to evaluate all of the potential implications on the company's trade, customers, suppliers and wider economy. The Directors' view on the impact of COVID-19 is disclosed within note 2 - accounting policies.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CALCOT SERVICES FOR CHILDREN LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CALCOT SERVICES FOR CHILDREN LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory framework applicable to the Company and the industry in which it operates. We determined that the following laws and regulations were most significant: FRS102 - the Financial Reporting Standard applicable in the UK & The Republic of Ireland, the Companies Act 2006, the Care Standards Act 2000, the Children Act 1989, and relevant tax compliance regulations in the UK.

We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making enquiries of management.

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by meeting with management to understand where management considered there was susceptibility to fraud. Audit procedures performed by the audit team included:

- Challenging assumptions and judgements made by management in its significant accounting estimates;
- Identifying and testing journal entries, with a focus on entries made with unusual accounting combinations;
- Confirming with management whether they have knowledge of any actual, suspected or illegal fraud;
- Evaluating whether there was evidence of bias by management that represents a risk of material misstatement due to fraud.

These procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CALCOT SERVICES FOR CHILDREN LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Ben Loveday FCCA (Senior Statutory Auditor)
for and on behalf of Haines Watts
Chartered Accountants and Statutory Auditors
The Lightbox
87 Castle Street
Reading
Berkshire
RG1 7SN

16 October 2023

CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2022

2022 2022 2022
Continuing Discontinued Total
Notes £    £    £   

TURNOVER 9,467,990 1,172,767 10,640,757
Cost of sales (6,307,154 ) (812,143 ) (7,119,297 )
GROSS PROFIT 3,160,836 360,624 3,521,460

Administrative expenses (1,135,365 ) (80,871 ) (1,216,236 )

OPERATING PROFIT 4 2,025,471 279,753 2,305,224

Interest receivable and similar income 33,659 - 33,659
Gain/loss on revaluation of assets - - -
Interest payable and similar expenses 5 (38,221 ) (29,291 ) (67,512 )
PROFIT BEFORE TAXATION 2,020,909 250,462 2,271,371
Tax on profit 6 (487,174 ) (51,817 ) (538,991 )
PROFIT FOR THE FINANCIAL YEAR 1,533,735 198,645 1,732,380

OTHER COMPREHENSIVE INCOME -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,732,380

CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2022

2021 2021 2021
Continuing Discontinued Total
Notes £    £    £   

TURNOVER 10,778,104 2,260,478 13,038,582
Cost of sales (5,893,619 ) (906,782 ) (6,800,401 )
GROSS PROFIT 4,884,485 1,353,696 6,238,181

Administrative expenses (1,639,645 ) (112,610 ) (1,752,255 )

OPERATING PROFIT 4 3,244,840 1,241,086 4,485,926

Interest receivable and similar income 32,999 - 32,999
Gain/loss on revaluation of assets - - -
Interest payable and similar expenses 5 (58,511 ) (7,586 ) (66,097 )
PROFIT BEFORE TAXATION 3,219,328 1,233,500 4,452,828
Tax on profit 6 (656,915 ) (188,241 ) (845,156 )
PROFIT FOR THE FINANCIAL YEAR 2,562,413 1,045,259 3,607,672

OTHER COMPREHENSIVE INCOME -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

3,607,672

CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 8 4,803,726 4,820,525

CURRENT ASSETS
Debtors 9 6,310,448 3,623,356
Cash at bank and in hand 1,818,348 3,507,251
8,128,796 7,130,607
CREDITORS
Amounts falling due within one year 10 (1,587,612 ) (2,933,455 )
NET CURRENT ASSETS 6,541,184 4,197,152
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,344,910

9,017,677

CREDITORS
Amounts falling due after more than one
year

11

(2,403,003

)

(1,158,150

)

PROVISIONS FOR LIABILITIES 15 (136,202 ) (136,202 )
NET ASSETS 8,805,705 7,723,325

CAPITAL AND RESERVES
Called up share capital 16 2 2
Retained earnings 17 8,805,703 7,723,323
SHAREHOLDERS' FUNDS 8,805,705 7,723,325

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by:





S Singh - Director


CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2022

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 April 2020 2 5,624,528 5,624,530

Changes in equity
Dividends - (1,508,877 ) (1,508,877 )
Total comprehensive income - 3,607,672 3,607,672
Balance at 31 March 2021 2 7,723,323 7,723,325

Changes in equity
Dividends - (650,000 ) (650,000 )
Total comprehensive income - 1,732,380 1,732,380
Balance at 31 March 2022 2 8,805,703 8,805,705

CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2022

2022 2021
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 536,122 5,680,014
Interest paid (67,512 ) (66,097 )
Tax paid (630,524 ) (1,271,018 )
Net cash from operating activities (161,914 ) 4,342,899

Cash flows from investing activities
Purchase of tangible fixed assets (379,480 ) (530,198 )
Sale of tangible fixed assets 124,424 35,654
Interest received 33,659 32,999
Net cash from investing activities (221,397 ) (461,545 )

Cash flows from financing activities
Capital movement on loans (109,288 ) (200,141 )
Amount introduced by directors 28,701 -
Amount withdrawn by directors (575,005 ) (1,500,000 )
Equity dividends paid (650,000 ) (1,508,877 )
Net cash from financing activities (1,305,592 ) (3,209,018 )

(Decrease)/increase in cash and cash equivalents (1,688,903 ) 672,336
Cash and cash equivalents at
beginning of year

2

3,507,251

2,834,915

Cash and cash equivalents at end of
year

2

1,818,348

3,507,251

CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2022


1. RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED FROM
OPERATIONS
2022 2021
£    £   
Profit for the financial year 1,732,380 3,607,672
Depreciation charges 271,855 188,019
Profit on disposal of fixed assets - (20,644 )
Finance costs 67,512 66,097
Finance income (33,659 ) (32,999 )
Taxation 538,991 845,156
2,577,079 4,653,301
(Increase)/decrease in trade and other debtors (2,592,849 ) 1,937,206
Increase/(decrease) in trade and other creditors 551,892 (910,493 )
Cash generated from operations 536,122 5,680,014

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2022
31/3/22 1/4/21
£    £   
Cash and cash equivalents 1,818,348 3,507,251
Year ended 31 March 2021
31/3/21 1/4/20
£    £   
Cash and cash equivalents 3,507,251 2,837,723
Bank overdrafts - (2,808 )
3,507,251 2,834,915


CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2022


3. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1/4/21 Cash flow At 31/3/22
£    £    £   
Net cash
Cash at bank and in hand 3,507,251 (1,688,903 ) 1,818,348
3,507,251 (1,688,903 ) 1,818,348
Debt
Debts falling due within 1 year (1,500,597 ) 1,354,141 (146,456 )
Debts falling due after 1 year (1,158,150 ) (1,244,853 ) (2,403,003 )
(2,658,747 ) 109,288 (2,549,459 )
Total 848,504 (1,579,615 ) (731,111 )

CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

Calcot Services For Children 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 the Pound Sterling (£).


The financial statements are rounded to the nearest £.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with 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.

Going Concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Directors have tested their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually
associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured
reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property -50 years
Leasehold improvements-10 years
Vehicles-10 years
Fixtures and fittings - 4 years
Office equipment - 4 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


2. ACCOUNTING POLICIES - continued

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Finance costs
Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Operating leases
Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight line basis over the lease term.Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Pensions - Defined contribution
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Interest income
Interest income is recognised in the Statement of comprehensive income using the effective interest method.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.


CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:

-The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
-Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS
2022 2021
£    £   
Wages and salaries 4,438,162 5,334,956
Social security costs 331,887 391,452
Other pension costs 141,359 98,985
4,911,408 5,825,393

The average number of employees during the year was as follows:
2022 2021

Admin 14 8
Care 121 130
Education 19 24
Maintenance 2 4
Management 25 28
181 194

2022 2021
£    £   
Directors' remuneration 21,772 615,384

CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


4. OPERATING PROFIT

The operating profit is stated after charging:

2022 2021
£    £   
Motor vehicle leasing (operational) 87,528 87,071
Depreciation - owned assets 271,855 188,019
Loss on disposal of fixed assets - 20,644
Auditors' remuneration 19,214 12,000

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2022 2021
£    £   
Mortgage interest payable 67,512 65,270
Interest payable - 827
67,512 66,097

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2022 2021
£    £   
Current tax:
UK corporation tax 538,991 814,820
Prior year underprovision - (95 )
Total current tax 538,991 814,725

Deferred tax - 30,431
Tax on profit 538,991 845,156

UK corporation tax has been charged at 19% (2021 - 19%).

CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2022 2021
£    £   
Profit before tax 2,271,371 4,452,828
Profit multiplied by the standard rate of corporation tax in the UK of
19% (2021 - 19%)

431,560

846,037

Effects of:
Expenses not deductible for tax purposes 36,901 5,224
Capital allowances in excess of depreciation - (36,441 )
Depreciation in excess of capital allowances 10,826 -
Adjustments to tax charge in respect of previous periods - (95 )
Other items adjusted for tax purposes 59,704 -
Deferred tax - 30,431
Total tax charge 538,991 845,156

The UK Budget 2021 announcements on 3 March 2021 included measures to support economic recovery as a result of the ongoing COVID-19 pandemic. These included an increase to the UK's main corporation tax rate to 25%, which is due to be effective from 1 April 2023. These changes were not substantively enacted at the balance sheet date and hence have not been reflected in the measurement of deferred tax balances at the period end. It is not anticipated that these changes will have a material impact on the company's deferred tax balances.

7. DIVIDENDS
2022 2021
£    £   
Ordinary shares of £1 each
Interim 650,000 1,508,877

CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


8. TANGIBLE FIXED ASSETS
Improvements
Freehold to
property property Vehicles
£    £    £   
COST
At 1 April 2021 3,807,223 1,037,620 106,125
Additions - 313,255 -
Disposals - - -
At 31 March 2022 3,807,223 1,350,875 106,125
DEPRECIATION
At 1 April 2021 152,019 237,695 39,530
Charge for year 51,876 113,953 10,612
Eliminated on disposal - - -
At 31 March 2022 203,895 351,648 50,142
NET BOOK VALUE
At 31 March 2022 3,603,328 999,227 55,983
At 31 March 2021 3,655,204 799,925 66,595

Fixtures
and Office
fittings equipment Totals
£    £    £   
COST
At 1 April 2021 325,881 106,593 5,383,442
Additions 23,655 42,570 379,480
Disposals (200,110 ) - (200,110 )
At 31 March 2022 149,426 149,163 5,562,812
DEPRECIATION
At 1 April 2021 86,781 46,892 562,917
Charge for year 63,639 31,775 271,855
Eliminated on disposal (75,686 ) - (75,686 )
At 31 March 2022 74,734 78,667 759,086
NET BOOK VALUE
At 31 March 2022 74,692 70,496 4,803,726
At 31 March 2021 239,100 59,701 4,820,525

CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


9. DEBTORS
2022 2021
£    £   
Amounts falling due within one year:
Trade debtors 743,149 914,582
Other debtors 3,914,596 1,033,134
Directors' loan accounts 1,498,474 1,500,000
Prepayments and accrued income 137,727 159,138
6,293,946 3,606,854

Amounts falling due after more than one year:
Other debtors 16,502 16,502

Aggregate amounts 6,310,448 3,623,356

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts (see note 12) 146,456 1,500,597
Trade creditors 157,011 95,279
Tax 125,200 216,733
Social security and other taxes 120,049 477,581
Other creditors 336,477 34,825
Accruals and deferred income 702,419 608,440
1,587,612 2,933,455

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans (see note 12) 2,403,003 1,158,150

12. LOANS

An analysis of the maturity of loans is given below:

2022 2021
£    £   
Amounts falling due within one year or on demand:
Bank loans 146,456 1,500,597

Amounts falling due between one and two years:
Bank loans - 1-2 years 129,127 80,200

CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


12. LOANS - continued
2022 2021
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 1,499,747 245,896

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 774,129 832,054

13. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Within one year 403,419 209,911
Between one and five years 722,063 389,776
1,125,482 599,687

14. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 2,549,459 2,658,747

The Company's bank loans are secured on its freehold premises, which are used as both an educational establishment as well as a care facility.

15. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 136,202 136,202

Deferred
tax
£   
Balance at 1 April 2021 136,202
Balance at 31 March 2022 136,202

CALCOT SERVICES FOR CHILDREN LIMITED (REGISTERED NUMBER: 05957737)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
2 Ordinary £1 2 2

17. RESERVES
Retained
earnings
£   

At 1 April 2021 7,723,323
Profit for the year 1,732,380
Dividends (650,000 )
At 31 March 2022 8,805,703

18. PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The pension cost charge represents contributions payable by the Company to the fund and amounted to £141,359 (2021 - £98,985). Contributions totalling £24,961 (2021 - £18,737) were payable to the fund at the balance sheet date and are included in creditors.

19. CONTINGENT LIABILITIES

During the year the Company provided a cross guarantee to Calcot Services for Children (Assessments) Limited.

20. RELATED PARTY DISCLOSURES

The Company occupies and utilises multiple premises in which the directors have a material interest.
Annual rent of £474,000 (2021 - £474,000) was payable in the year under the terms of the respective
leases.

21. ULTIMATE CONTROLLING PARTY

The Company was under the control of the directors throughout the current and previous years.

22. DISCONTINUED OPERATIONS

The company sold the operations of Eton Dorney Independent Therapeutic School to Calcot Services For Children (Education) Limited on 31 October 2021. During the year the School contributed post tax profits of £198,645 (2021: £1,045,258). The company receive cash consideration of £1,942,407. The net assets at the date of disposal were £1,942,407, there was no profit or loss on disposal to recognise in the profit and loss account.