Company registration number 04304944 (England and Wales)
ST CATHERINE'S COLLEGE DEVELOPMENT LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
ST CATHERINE'S COLLEGE DEVELOPMENT LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
3 - 5
ST CATHERINE'S COLLEGE DEVELOPMENT LTD
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
799
799
Cash at bank and in hand
5,063
6,244
5,862
7,043
Creditors: amounts falling due within one year
5
(5,838)
(6,987)
Net current assets
24
56
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
22
54
Total equity
24
56
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 23 February 2024 and are signed on its behalf by:
Professor K E Börjars
Director
Company registration number 04304944 (England and Wales)
ST CATHERINE'S COLLEGE DEVELOPMENT LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 August 2021
2
4,623
4,625
Year ended 31 July 2022:
Profit and total comprehensive income
-
54
54
Distributions to parent charity under gift aid
-
(4,623)
(4,623)
Balance at 31 July 2022
2
54
56
Year ended 31 July 2023:
Profit and total comprehensive income
-
24
24
Distributions to parent charity under gift aid
-
(56)
(56)
Balance at 31 July 2023
2
22
24
ST CATHERINE'S COLLEGE DEVELOPMENT LTD
STATEMENT OF CHANGES IN EQUITY (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
1
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
There are no specific judgements present in this Company which need highlighting.
2
Accounting policies
Company information
St Catherine's College Development Ltd is a private company limited by shares incorporated in England and Wales. The registered office is St Catherine's College, Manor Road, Oxford, OX1 3UJ.
2.1
Accounting convention
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
2.2
Revenue Recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
2.3
Cash and cash equivalents
Cash and cash equivalents comprise of cash on hand that is readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
2.4
Trade Debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
ST CATHERINE'S COLLEGE DEVELOPMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
2
Accounting policies
(Continued)
- 4 -
2.5
Trade Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
2.6
Ordinary Shares
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
500
500
Other debtors
299
299
799
799
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
5,838
6,987
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
ST CATHERINE'S COLLEGE DEVELOPMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Katherine Wilkes
Statutory Auditor:
Critchleys Audit LLP
8
Related party transactions
Summary of transactions with parent
The company has taken advantage of the exemption in FRS102 from disclosing transactions with other members of the group.
9
Ultimate controlling party
The company is controlled by St Catherine's College, Oxford.
The company's immediate parent is St Catherine's College, incorporated in England and Wales, which produces consolidated financial statements. The registered address of the parent is St Catherine's College, Manor Road, Oxford, OX1 3UJ.