REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
WOODLANDS SCHOOLS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
WOODLANDS SCHOOLS LIMITED |
WOODLANDS SCHOOLS LIMITED (REGISTERED NUMBER: 01389757) |
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 |
WOODLANDS SCHOOLS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
34-40 High Street |
Wanstead |
London |
E11 2RJ |
WOODLANDS SCHOOLS LIMITED (REGISTERED NUMBER: 01389757) |
BALANCE SHEET |
31 AUGUST 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Revaluation reserve | 12 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
WOODLANDS SCHOOLS LIMITED (REGISTERED NUMBER: 01389757) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
1. | STATUTORY INFORMATION |
Woodlands Schools Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Revenue represents net invoiced school fees and related income, less a deferral for fees received in advance. |
School fee income is recognised in the same accounting period as the relevant term to which they relate. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write of the assets over their estimated useful lives. |
Freehold Land and Buildings | Over 6 - 50 years |
Fixtures and Fittings | Over 3 - 50 years |
Computer Equipment | Over 5 - 20 years |
Motor Vehicles | Over 6 years |
Freehold land is not depreciated. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
WOODLANDS SCHOOLS LIMITED (REGISTERED NUMBER: 01389757) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
5. | TANGIBLE FIXED ASSETS |
Freehold | Fixtures |
land and | and | Motor | Computer |
buildings | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 September 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 August 2023 |
DEPRECIATION |
At 1 September 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
Included in cost of land and buildings is freehold land of £ 326,301 (2022 - £ 326,301 ) which is not depreciated. |
Included in Freehold Land and Buildings is property that was revalued at open market value on 24 July 1992 at £657,212 (including subsequent additions at cost). On transition to FRS102 the company has used this valuation as deemed cost of the asset. |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 September 2022 |
and 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Directors' current accounts | 199,556 | 88,094 |
Corporation tax recoverable |
Prepayments and accrued income |
WOODLANDS SCHOOLS LIMITED (REGISTERED NUMBER: 01389757) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Hire purchase contracts (see note 10) |
Trade creditors |
Corporation tax |
Social security and other taxes |
Accruals and deferred income |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Hire purchase contracts (see note 10) |
Director's loan |
Long term deposits held | 279,298 | 265,226 |
The director's loan account of J K Lewis is secured by way of a fixed and floating charge over the assets of the company. |
10. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable | operating leases |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
11. | SECURED DEBTS |
Liabilities under hire purchase agreements are secured on the assets to which they relate. |
12. | RESERVES |
Revaluation |
reserve |
£ |
At 1 September 2022 |
and 31 August 2023 |
13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year, amounts of £111,462 were advanced to the Directors, J Lewis and B Lewis (2022 : £88,094), leaving a balance of £199,556 (2022: £88,094) due to the company at year end. Interest of 2.25% has been charged on this balance and it is repayable on demand. |
14. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is J K Lewis by virtue of his majority shareholding. |