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Registered number: 08920547
















TRURO HIGH SCHOOL TRADING LIMITED




FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023


































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TRURO HIGH SCHOOL TRADING LIMITED
REGISTERED NUMBER:08920547

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
9,149
9,597

Cash at bank and in hand
 5 
95,221
89,053

  
104,370
98,650

Creditors: amounts falling due within one year
 6 
(104,369)
(98,649)

Net current assets
  
 
 
1
 
 
1

Total assets less current liabilities
  
1
1

  

Net assets
  
1
1


Capital and reserves
  

Called up share capital 
 7 
1
1

  
1
1


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 income and retained earnings 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: 





Mr W J Keast
Director

Date: 25 March 2024

The notes on pages 2 to 4 form part of these financial statements.
Page 1


TRURO HIGH SCHOOL TRADING LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Truro High School Trading Limited is a private company limited by shares, and is incorporated in England and Wales. The registered office is Truro High School for Girls, Falmouth Road, Truro, TR1 2HU.

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

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. 

 
2.3

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.

 
2.4

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.

Page 2


TRURO HIGH SCHOOL TRADING LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

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 relates parties and investments in ordinary shares.

 
2.8

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.


3.


Employees

Truro High School Trading Limited did not directly employ any staff during the year (2022: Nil). Instead, it paid Truro High School for Girl's a contribution toward the staff who worked to further the objectives of the company. This includes the Lifeguards. The amount paid in 2023 was £22,041 (2022: £20,710).

The average monthly number of employees, including directors, during the year was 0 (2022: 0).


4.


Debtors

2023
2022
£
£


Trade debtors
2,304
9,597

Prepayments and accrued income
6,845
-

9,149
9,597


Page 3


TRURO HIGH SCHOOL TRADING LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
95,221
89,053

95,221
89,053



6.


Creditors: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
3,372
16,756

Amounts owed to group undertakings
95,897
79,181

Other creditors
-
(2,273)

Accruals and deferred income
5,100
4,985

104,369
98,649



7.


Share capital

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1 (2022: 1) Share capital share of £1.00
1
1



8.


Controlling party

The whole of the issued share capital is held by Truro High School for Girls Trustees (Company No 06156433) as nominee for Truro High School for Girls, a registered charity (No 306577). The ultimate controlling party at the statement of financial position date was Truro High School for Girls Trustees, a company registered in England and Wales, being corporate trustee of Truro High School for Girls.


9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 August 2023 was unqualified.

The audit report was signed on 27 March 2024 by Alison Oliver FCA (Senior statutory auditor) on behalf of Bishop Fleming LLP.

Page 4