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Company No: 02932587 (England and Wales)

THE MONTESSORI SCHOOL LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

THE MONTESSORI SCHOOL LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

THE MONTESSORI SCHOOL LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 July 2023
THE MONTESSORI SCHOOL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 6,118 10,968
6,118 10,968
Current assets
Debtors
- due within one year 4 134,874 126,215
- due after more than one year 4 40,969 39,193
Cash at bank and in hand 954,704 850,530
1,130,547 1,015,938
Creditors: amounts falling due within one year 5 ( 145,993) ( 132,459)
Net current assets 984,554 883,479
Total assets less current liabilities 990,672 894,447
Net assets 990,672 894,447
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account 990,671 894,446
Total shareholder's funds 990,672 894,447

For the financial year ending 31 July 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 financial statements of The Montessori School Limited (registered number: 02932587) were approved and authorised for issue by the Director. They were signed on its behalf by:

J F Ballintine
Director

14 February 2024

THE MONTESSORI SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
THE MONTESSORI SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Montessori School Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 102 Chestnut Grove, Balham, London, SW12 8JJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £1.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Fixtures and fittings 4 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 16 15

3. Tangible assets

Land and buildings Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 August 2022 6,551 141,598 11,595 159,744
Additions 0 2,485 50 2,535
Disposals 0 0 ( 525) ( 525)
At 31 July 2023 6,551 144,083 11,120 161,754
Accumulated depreciation
At 01 August 2022 6,551 134,038 8,187 148,776
Charge for the financial year 0 5,815 1,570 7,385
Disposals 0 0 ( 525) ( 525)
At 31 July 2023 6,551 139,853 9,232 155,636
Net book value
At 31 July 2023 0 4,230 1,888 6,118
At 31 July 2022 0 7,560 3,408 10,968

4. Debtors

2023 2022
£ £
Debtors: amounts falling due within one year
Trade debtors 3,047 71
Prepayments 3,335 2,916
Other debtors 128,492 123,228
134,874 126,215
Debtors: amounts falling due after more than one year
Other debtors 40,969 39,193

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 2,744 1,293
Accruals 9,837 7,590
Taxation and social security 57,775 49,206
Other creditors 75,637 74,370
145,993 132,459

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

7. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 816 4,420

8. Directors advances, credits and guarantees

Included in other debtors is balance of £128,492 (2022: £123,228) owed by the director of the company. The loan is unsecured and interest is charged at the HMRC official interest rate, with no fixed repayment terms.