REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 August 2023 |
for |
Repton School Enterprises Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 August 2023 |
for |
Repton School Enterprises Limited |
Repton School Enterprises Limited (Registered number: 02644487) |
Contents of the Financial Statements |
for the Year Ended 31 August 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Repton School Enterprises Limited |
Company Information |
for the Year Ended 31 August 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants |
The Mills |
Canal Street |
Derby |
DE1 2RJ |
Repton School Enterprises Limited (Registered number: 02644487) |
Balance Sheet |
31 August 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Repton School Enterprises Limited (Registered number: 02644487) |
Notes to the Financial Statements |
for the Year Ended 31 August 2023 |
1. | STATUTORY INFORMATION |
Repton School Enterprises Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the amounts (excluding value added tax) derived from the provision of services to customers during the year. |
Tangible fixed assets |
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment loss. 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. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter: |
Fixtures and fittings - 15% and 25% on a straight line basis |
Stocks |
Stocks are included at purchase invoice cost and are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
At each reporting date, stock is 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. |
Gift aid payment to charity |
Where distributable profits are sufficient, the company pays all its taxable profits (if any) for the reporting period to its parent charity under the gift aid scheme. These gift aid payments are recognised as distributions to owners in equity within retained earnings. |
No legal obligation is in place at the reporting date for the company to make gift aid payments, although prior to the reporting date the board had indicated its intention to pay any taxable profits to the parent charity in respect of the reporting period. The payment (where due) is expected to be made within 9 months of the end of the reporting date. |
The change in accounting policy for gift aid payments results in the company recognising a taxation charge on its profits for the year. However, the application of the exception under paragraph 29.14A of FRS 102 provides relief in respect of the accounting for the tax charge. This results in an overall £NIL charge for tax in the income statement. This exception is only applicable as it is probable that the gift aid payment (where due) will be made by the company to the parent charity within 9 months of the reporting date. |
Repton School Enterprises Limited (Registered number: 02644487) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Related parties |
The company is a wholly owned subsidiary undertaking. The company has taken advantage of the exemption contained within Financial Reporting Standard 102 and has therefore not disclosed transactions with entities which form part of the group, other than as normally disclosed in the notes to the financial statements. |
Going concern |
The group has indicated further reasonable support is available and that no repayments on inter-company loans will be required until the company has adequate funds. The company has returned to profitability and the directors therefore continue to adopt the going concern basis in preparing the financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 September 2022 |
Additions |
At 31 August 2023 |
DEPRECIATION |
At 1 September 2022 |
Charge for year |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
Repton School Enterprises Limited (Registered number: 02644487) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Owed to group undertakings | 545,106 | 938,259 |
Accruals and deferred income |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |