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Registration number: 12793966

Forres Sandle Manor School Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Forres Sandle Manor School Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Forres Sandle Manor School Ltd

Company Information

Directors:

Ms Liwei Han

D A I Murphy

Catriona Mary Stone

Company secretary:

A Holmes

Registered office:

Forres Sandle Manor School
Forres Sandle Manor
Sandleheath
Fordingbridge
Hampshire
SP6 1NS

Registered number:

12793966

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Forres Sandle Manor School Ltd

(Registration number: 12793966)
Balance Sheet as at 31 August 2023

Note

31.08.23

31.08.22

   

£

£

£

£

FIXED ASSETS

   

 

Tangible assets

4

 

2,206,825

 

2,173,641

CURRENT ASSETS

   

 

Stocks

5

1,228

 

1,226

 

Debtors

6

157,864

 

518,691

 

Cash at bank and in hand

 

383,677

 

308,361

 

 

542,769

 

828,278

 

CREDITORS

   

 

Creditors within 1yr

7

3,120,794

 

3,074,886

 

Net current liabilities

   

(2,578,025)

 

(2,246,608)

Total assets less current liabilities

   

(371,200)

 

(72,967)

Creditors
Amounts falling due after more than one year

7

 

950,000

 

555,797

Net liabilities

   

(1,321,200)

 

(628,764)

CAPITAL AND RESERVES

   

 

Called up share capital

 

100

 

100

Profit and loss account

 

(1,321,300)

 

(628,864)

Shareholders' deficit

   

(1,321,200)

 

(628,764)

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 August 2024

 

Forres Sandle Manor School Ltd

(Registration number: 12793966)
Balance Sheet as at 31 August 2023 (continued)

.........................................
Ms Liwei Han
Director

 

Forres Sandle Manor School Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1.

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Forres Sandle Manor School
Forres Sandle Manor
Sandleheath
Fordingbridge
Hampshire
SP6 1NS

These financial statements were authorised for issue by the Board on 22 August 2024.

2.

Accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The presentational currency is Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis on the understanding that related parties will continue to support the business for at least 12 months from the date of signing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Forres Sandle Manor School Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold buildings

The freehold property is maintained to a high standard and no depreciation is charged as in the opinion of the directors any such sum is immaterial.

Computer equipment

From 3 to 5 years

Plant and machinery

From 5 to 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

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.

 

Forres Sandle Manor School Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3.

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 53 (2022 - 56).

 

Forres Sandle Manor School Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

4.

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 September 2022

2,080,549

4,429

44,224

65,384

Additions

29,393

6,241

13,505

-

At 31 August 2023

2,109,942

10,670

57,729

65,384

Depreciation

At 1 September 2022

-

1,002

14,028

5,915

Charge for the year

-

518

7,839

7,598

At 31 August 2023

-

1,520

21,867

13,513

Carrying amount

At 31 August 2023

2,109,942

9,150

35,862

51,871

At 31 August 2022

2,080,549

3,427

30,196

59,469

Total
£

Cost or valuation

At 1 September 2022

2,194,586

Additions

49,139

At 31 August 2023

2,243,725

Depreciation

At 1 September 2022

20,945

Charge for the year

15,955

At 31 August 2023

36,900

Carrying amount

At 31 August 2023

2,206,825

At 31 August 2022

2,173,641

5.

Stocks

31.08.23
£

31.08.22
£

Goods for resale

1,228

1,226

 

Forres Sandle Manor School Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

6.

Debtors

Current

31.08.23
£

31.08.22
£

Trade debtors

85,035

434,899

Prepayments

72,829

83,792

 

157,864

518,691

 

Forres Sandle Manor School Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

7.

Creditors

Creditors: amounts falling due within one year

31.08.23
£

31.08.22
£

Due within one year

Trade creditors

77,782

177,516

Taxation and social security

728

28,329

Accruals and deferred income

731,308

533,946

Other creditors

2,310,976

2,335,095

3,120,794

3,074,886

Included in Other Creditors is £2.2m owed to the shareholder on which no interest or repayment terms have been set.

Creditors: amounts falling due after more than one year

31.08.23
£

31.08.22
£

Due after one year

Loans and borrowings

950,000

555,797