Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-312022-08-01truetruefalseThe principal activity of the company during the year was that of organising conference events and management of Kingston Maurward Animal Park00truetrue 05472379 2022-08-01 2023-07-31 05472379 2021-08-01 2022-07-31 05472379 2023-07-31 05472379 2022-07-31 05472379 c:Director1 2022-08-01 2023-07-31 05472379 d:CurrentFinancialInstruments 2023-07-31 05472379 d:CurrentFinancialInstruments 2022-07-31 05472379 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 05472379 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 05472379 d:ShareCapital 2023-07-31 05472379 d:ShareCapital 2022-07-31 05472379 d:RetainedEarningsAccumulatedLosses 2023-07-31 05472379 d:RetainedEarningsAccumulatedLosses 2022-07-31 05472379 c:FRS102 2022-08-01 2023-07-31 05472379 c:Audited 2022-08-01 2023-07-31 05472379 c:FullAccounts 2022-08-01 2023-07-31 05472379 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 05472379 c:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 05472379
















KINGSTON MAURWARD ENTERPRISES LIMITED




 FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023


































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KINGSTON MAURWARD ENTERPRISES LIMITED
REGISTERED NUMBER:05472379

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
32,497
22,008

Debtors
 4 
69,275
318,468

Cash
 5 
76,776
98,055

  
178,548
438,531

Creditors: amounts falling due within one year
 6 
(191,033)
(208,918)

Net current (liabilities)/assets
  
 
 
(12,485)
 
 
229,613

Total assets less current liabilities
  
(12,485)
229,613

  

Net (liabilities)/assets
  
(12,485)
229,613


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(12,486)
229,612

  
(12,485)
229,613


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: 





Luke Rake
Director

Date: 27 February 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1


KINGSTON MAURWARD ENTERPRISES LIMITED

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

1.


GENERAL INFORMATION

Kingston Maurward Enterprises is a private company limited by shares and incorporated in the UK. The registered office is Kingston Maurward College, Dorchester, Dorset, DT2 8PY. The principal activity of the company is the organising of conference events and management of the animal park. All taxable profits from such activity will be gifted aided to the company's parent charity, Kingston Maurward College.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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).

This information is included in the consolidated financial statements of Kingston Maurward College as at 31 July 2023 and these financial statements may be obtained from Kingston Maurward College, Dorchester, Dorset, DT2 8PY.

 
2.3

GOING CONCERN

The company’s financial statements have been prepared on a going concern basis which assumes that the company will be able to realise its assets and discharge its liabilities in the normal course of business. However; the company is intimately connected with its parent, Kingston Maurward College, which is experiencing continuing financial difficulties. The college, post year-end, applied to the ESFA for emergency funding support to alleviate its cashflow position. This application was approved on 20th December 2023, with the college drawing down its first tranche of emergency funding support on the 28th December 2023. The college is exploring the possibility of merging with another FE college with a working date for merger being the 1st August 2024. Whilst the company's accounts have been prepared on a going concern basis, there is the existence of material uncertainty due to the absence of an agreed future solution for the College, which may therefore cast significant doubt on the company's ability to continue as a going concern due to its intimate connection with the College.

 
2.4

REVENUE

The turnover shown in the Statement of Income and Retained Earnings represents the value of all goods sold during the period, less returns received, at selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the product, such as obsolescence, have been transferred to the customer.

Page 2


KINGSTON MAURWARD ENTERPRISES LIMITED

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

2.ACCOUNTING POLICIES (continued)

 
2.5

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

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 reporting 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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Page 3


KINGSTON MAURWARD ENTERPRISES LIMITED

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

3.


EMPLOYEES

The Company has no employees other than the directors, who did not receive any remuneration (2022: £NIL).

Certain members of Kingston Maurward College staff provide direct services to the company and their remuneration is recharged to the company. The facilities charge that the college makes to Kingston Maurward Enterprises Limited includes a proportionate charge for the indirect staff costs, including management time. It is impossible to ascertain separately the element of the facilities charge that relates to staff costs.


4.


DEBTORS

2023
2022
£
£


Trade debtors
3,571
45,810

Amounts owed by group undertakings
46,248
263,641

Other debtors
9,223
7,177

Prepayments and accrued income
10,233
1,840

69,275
318,468



5.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
76,776
98,055



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
54,758
38,608

Other taxation and social security
30,887
79,431

Other creditors - payments on account
68,798
87,853

Accruals
36,590
3,026

191,033
208,918


Page 4


KINGSTON MAURWARD ENTERPRISES LIMITED

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

7.


CONTROLLING PARTY

The ultimate controlling party is Kingston Maurward College by virtue of its total controlling shareholding. 
This company is a wholly owned subsidiary of Kingston Maurward College, a corporation under the Further and Higher Educations Act 1992 and for which group accounts are prepared.
The company has taken advantage of the exemption in Financial Reporting Standard 102 from the requirement to disclose transactions with group companies on the grounds that consolidated financial statements are prepared by the ultimate parent company. 


8.


AUDITORS' INFORMATION

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

In their report, the auditors emphasised the following matter without qualifying their report:
The company is dependent on its parent, Kingston Maurward College, to continue in operation, to be able to deliver its services. We draw your attention to note 2.3, which indicates that a material uncertainty over going concern exists in relation to the College. As stated in note 2.3, these events or conditions indicate a material uncertainty exists that may cast significant doubt on the Group's and therefore the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

The audit report was signed on 28 February 2024 by Craig Sullivan FCCA (Senior statutory auditor) on behalf of Bishop Fleming LLP.

 
Page 5