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Registration number: 04753881

Candice Education Services Ltd

trading as Small Haven School

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

(filleted for filing purposes)

 

Candice Education Services Ltd

trading as Small Haven School

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Candice Education Services Ltd

trading as Small Haven School

Company Information

Directors

Mr MJ Morgan

Mrs MJ Morgan

Company secretary

Mrs MJ Morgan

Registered office

The New Barn Mill Lane
Eastry
Sandwich
Kent
CT13 0JW

 

Candice Education Services Ltd

trading as Small Haven School

(Registration number: 04753881)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

105,532

131,730

Current assets

 

Debtors

5

453,678

443,043

Cash at bank and in hand

 

337,922

280,659

 

791,600

723,702

Creditors: Amounts falling due within one year

6

(583,344)

(532,897)

Net current assets

 

208,256

190,805

Total assets less current liabilities

 

313,788

322,535

Creditors: Amounts falling due after more than one year

6

-

(17,507)

Provisions for liabilities

(4,030)

(8,847)

Net assets

 

309,758

296,181

Capital and reserves

 

Called up share capital

7

106

106

Retained earnings

309,652

296,075

Shareholders' funds

 

309,758

296,181

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

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 9 October 2024 and signed on its behalf by:
 

 

Candice Education Services Ltd

trading as Small Haven School

(Registration number: 04753881)
Balance Sheet as at 31 August 2024

.........................................
Mr MJ Morgan
Director

.........................................
Mrs MJ Morgan
Company secretary and director

 
     
 

Candice Education Services Ltd

trading as Small Haven School

Notes to the Financial Statements for the Year Ended 31 August 2024

1

General information

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

The address of its registered office is:
The New Barn Mill Lane
Eastry
Sandwich
Kent
CT13 0JW
England

These financial statements were authorised for issue by the Board on 9 October 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.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Candice Education Services Ltd

trading as Small Haven School

Notes to the Financial Statements for the Year Ended 31 August 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

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

Motor vehicles

25% straight line

Fixtures and fittings

25% reducing balance

Freehold property

Over 50 years straight line

Leasehold improvements

Over 10 years straight line

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 creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

 

Candice Education Services Ltd

trading as Small Haven School

Notes to the Financial Statements for the Year Ended 31 August 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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 23 (2023 - 24).

 

Candice Education Services Ltd

trading as Small Haven School

Notes to the Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

75,963

123,234

69,879

269,076

Additions

-

1,056

-

1,056

At 31 August 2024

75,963

124,290

69,879

270,132

Depreciation

At 1 September 2023

14,474

89,671

33,200

137,345

Charge for the year

3,748

8,662

14,845

27,255

At 31 August 2024

18,222

98,333

48,045

164,600

Carrying amount

At 31 August 2024

57,741

25,957

21,834

105,532

At 31 August 2023

61,489

33,562

36,679

131,730

5

Debtors

Current

2024
£

2023
£

Trade debtors

439,826

429,341

Prepayments

13,233

12,949

Other debtors

619

753

 

453,678

443,043

 

Candice Education Services Ltd

trading as Small Haven School

Notes to the Financial Statements for the Year Ended 31 August 2024

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

17,507

1,227

Trade creditors

 

25,070

4,864

Taxation and social security

 

11,325

13,009

Other creditors

 

529,442

513,797

 

583,344

532,897

Due after one year

 

Loans and borrowings

-

17,507

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £17,507 (2023 - £1,227).

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £Nil (2023 - £17,507).

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary A-F shares of £1 each

6

6

6

6

 

106

106

106

106

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £176,065 (2023 - £206,483).