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REGISTERED NUMBER: 13739348 (England and Wales)






































Edmiston Parade School Ltd

Unaudited Financial Statements

for the Year Ended 30th June 2023






Edmiston Parade School Ltd (Registered number: 13739348)






Contents of the Financial Statements
for the year ended 30th June 2023




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 7


Edmiston Parade School Ltd

Company Information
for the year ended 30th June 2023







Directors: Mrs L Rowan
C A A Rowan





Registered office: Halidon House
17D Windmill Way West
Ramparts Business Park
Berwick Upon Tweed
Northumberland
TD15 1TB





Business address: 13 The Croft
East Ord
Berwick Upon Tweed
Northumberland
TD15 2NB





Registered number: 13739348 (England and Wales)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Edmiston Parade School Ltd (Registered number: 13739348)

Balance Sheet
30th June 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 3,561 2,306
Tangible assets 5 448,806 445,015
452,367 447,321

Current assets
Debtors 6 199,744 41,189
Cash at bank 698 97,452
200,442 138,641
Creditors
Amounts falling due within one year 7 244,724 134,339
Net current (liabilities)/assets (44,282 ) 4,302
Total assets less current liabilities 408,085 451,623

Creditors
Amounts falling due after more than one
year

8

506,577

495,000
Net liabilities (98,492 ) (43,377 )

Capital and reserves
Called up share capital 100 100
Retained earnings (98,592 ) (43,477 )
(98,492 ) (43,377 )

Edmiston Parade School Ltd (Registered number: 13739348)

Balance Sheet - continued
30th June 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th March 2024 and were signed on its behalf by:





C A A Rowan - Director


Edmiston Parade School Ltd (Registered number: 13739348)

Notes to the Financial Statements
for the year ended 30th June 2023

1. Statutory information

Edmiston Parade School Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website are being amortised evenly over their estimated useful life of three years.

Branding are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - not provided
Fixtures and fittings - 20% on reducing balance
Office equipment - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade creditors, accruals, bank loans, other loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade creditors, other loans and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.


Edmiston Parade School Ltd (Registered number: 13739348)

Notes to the Financial Statements - continued
for the year ended 30th June 2023

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
The company has a deficit on the balance sheet and relies on the support of its directors and lenders, which has been confirmed for a period of at least twelve months from the approval of the financial statements. The company is now producing an operating surplus and is in the process of refinancing its long term debt. Accordingly the financial statements have been prepared on the going concern basis.

3. Employees and directors

The average number of employees during the year was 3 (2022 - 2 ) .

Edmiston Parade School Ltd (Registered number: 13739348)

Notes to the Financial Statements - continued
for the year ended 30th June 2023

4. Intangible fixed assets
Website Branding Totals
£    £    £   
Cost
At 1st July 2022 2,571 - 2,571
Additions - 2,112 2,112
At 30th June 2023 2,571 2,112 4,683
Amortisation
At 1st July 2022 265 - 265
Amortisation for year 857 - 857
At 30th June 2023 1,122 - 1,122
Net book value
At 30th June 2023 1,449 2,112 3,561
At 30th June 2022 2,306 - 2,306

5. Tangible fixed assets
Fixtures
Freehold and Office
property fittings equipment Totals
£    £    £    £   
Cost
At 1st July 2022 441,714 2,079 1,339 445,132
Additions - 5,286 - 5,286
At 30th June 2023 441,714 7,365 1,339 450,418
Depreciation
At 1st July 2022 - 46 71 117
Charge for year - 1,178 317 1,495
At 30th June 2023 - 1,224 388 1,612
Net book value
At 30th June 2023 441,714 6,141 951 448,806
At 30th June 2022 441,714 2,033 1,268 445,015

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Amounts owed by group undertakings 199,744 1,512
Other debtors - 39,677
199,744 41,189

Edmiston Parade School Ltd (Registered number: 13739348)

Notes to the Financial Statements - continued
for the year ended 30th June 2023

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 7,558 2,998
Amounts owed to group undertakings 67,038 -
Taxation and social security 2,029 893
Other creditors 168,099 130,448
244,724 134,339

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Other creditors 506,577 495,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 506,577 495,000

9. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 605,777 -

Ultimate Bridging Finance Limited hold a fixed and floating charge over all of the property or undertaking of the company.