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Registered number: 02964198










MORETON HALL SERVICES LTD










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2022

 
MORETON HALL SERVICES LTD
REGISTERED NUMBER: 02964198

BALANCE SHEET
AS AT 31 AUGUST 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
263
394

  
263
394

Current assets
  

Stocks
  
1,177
1,801

Debtors: amounts falling due within one year
 5 
1,350
-

Cash at bank and in hand
  
18,445
18,413

  
20,972
20,214

Creditors: amounts falling due within one year
 6 
(5,048)
(6,666)

Net current assets
  
 
 
15,924
 
 
13,548

Total assets less current liabilities
  
16,187
13,942

  

Net assets
  
16,187
13,942

Page 1

 
MORETON HALL SERVICES LTD
REGISTERED NUMBER: 02964198
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2022

2022
2021
Note
£
£

Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
16,185
13,940

  
16,187
13,942


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Y Chen
Director

Date: 24 October 2023

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
MORETON HALL SERVICES LTD
 

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


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 September 2020
2
12,167
12,169


Comprehensive income for the year

Profit for the year

-
1,967
1,967

Distributions to parent charity under gift aid
-
(194)
(194)
Total comprehensive income for the year
-
1,773
1,773



At 1 September 2021
2
13,940
13,942


Comprehensive income for the year

Profit for the year

-
4,718
4,718

Distributions to parent charity under gift aid
-
(2,473)
(2,473)
Total comprehensive income for the year
-
2,245
2,245


At 31 August 2022
2
16,185
16,187


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
MORETON HALL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

1.


General information

Moreton Hall Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Moreton Hall, Weston Rhyn, Oswestry, Shropshire, United Kingdom, SY11 3EW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Moreton Hall Educational Trust Ltd as at 31 August 2021 and these financial statements may be obtained from its registered office, Moreton Hall, Weston Rhyn, Oswestry, Shropshire, SY11 3EW..

 
2.3

Going concern

As set out in note 8, the trade and assets of the Company have been transferred to Moreton Hall Education Limited on 31 August 2023. 
As the Company will not be trading, within 12 months of signing the accounts, the financial statements have not been prepared on a going concern basis. 

Page 4

 
MORETON HALL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

2.Accounting policies (continued)

 
2.4

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover 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 turnover 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.

 
2.5

Taxation

Tax is recognised in profit or loss 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.

 
2.6

Tangible fixed assets

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 5

 
MORETON HALL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation 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:

Plant and machinery
-
33% on cost and 25% on reducing balance

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 profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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 ordinary shares.

Page 6

 
MORETON HALL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).


4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 September 2021
11,731



At 31 August 2022

11,731



Depreciation


At 1 September 2021
11,337


Charge for the year on owned assets
131



At 31 August 2022

11,468



Net book value



At 31 August 2022
263



At 31 August 2021
394


5.


Debtors

2022
2021
£
£


Amounts owed by group undertakings
1,350
-

1,350
-


Page 7

 
MORETON HALL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
3,215
2,283

Amounts owed to group undertakings
-
4,383

Corporation tax
1,138
-

Other creditors
695
-

5,048
6,666



7.


Related party transactions

The company is exempt from disclosing inter group transactions due to the fact that consolidated financial statements, in which this company is included, are publicly available from the Registrar of Companies, Cardiff.


8.


Cessation of trade

The trade and assets of the entity have been transferred to Moreton Hall Education Limited, the Company's parent company, on 31 August 2023. 


9.


Controlling party

On 18 October 2022, the ongoing charitable activites and assets of Moreton Hall Educational Trust Limited were transferred to Moreton Hall Education Limited. The controlling party of Moreton Hall Services Limited has subsequently changed. 
Moreton Hall Services Ltd is a wholly owned subsidiary of Moreton Hall Education Limited, a company registered in England and Wales, whose registered office address is Moreton Hall, Weston Rhyn, Oswestry, Shropshire, United Kingdom, SY11 3EW. Moreton Hall Services Ltd has use of the premises and facilities of Moreton Hall Education Limited, no charge is made in the accounts in respect of this arrangement.
The company is ultimately controlled by Ascend International Education Group Co Limited, who have significant control over Moreton Hall Education Limited. 

Page 8

 
MORETON HALL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 August 2022 was unqualified.

In their report, the auditors emphasised the following matter without qualifying their report:

We draw attention to Note 2.3 in the financial statements, which explains that the Company have ceased trading on 31 August 2023 and therefore the Director does not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 2.3. Our opinion is not modified in this respect of this matter. 

The audit report was signed on 27 October 2023 by Andy Malpass (Senior statutory auditor) on behalf of WR Partners.

 
Page 9