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Registration number: 13073852

Prepared for the registrar

Yarrow Heights Holdings Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 January 2023 to 26 January 2024

 

Yarrow Heights Holdings Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Yarrow Heights Holdings Ltd

Company Information

Directors

S G G Aiano

G L Balcombe

S Coles

G C Doyle

E E Gibson

A N Hassan

R Slevin

Registered office

58 Buckingham Gate
London
SW1E 6AJ

Accountants

Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

 

Yarrow Heights Holdings Ltd

(Registration number: 13073852)
Balance Sheet as at 26 January 2024

Note

26 January 2024
£

31 December 2022
£

Fixed assets

 

Tangible assets

4

2,726,217

2,786,447

Investments

5

1

1

 

2,726,218

2,786,448

Current assets

 

Debtors

6

660,690

846,742

Cash at bank and in hand

 

2,781

4,716

 

663,471

851,458

Creditors: Amounts falling due within one year

7

(4,648,170)

(11,275)

Net current (liabilities)/assets

 

(3,984,699)

840,183

Total assets less current liabilities

 

(1,258,481)

3,626,631

Creditors: Amounts falling due after more than one year

7

-

(4,500,000)

Net liabilities

 

(1,258,481)

(873,369)

Capital and reserves

 

Called up share capital

8

100

100

Profit and loss account

(1,258,581)

(873,469)

Shareholders' deficit

 

(1,258,481)

(873,369)

For the financial period ending 26 January 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 period 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 23 October 2024 and signed on its behalf by:
 


E E Gibson
Director

 

Yarrow Heights Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 26 January 2024

 

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:
58 Buckingham Gate
London
SW1E 6AJ

 

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Group accounts not prepared

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small group.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

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, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

Straight line over 50 years

Building improvements

Straight line over 5 to 50 years

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Yarrow Heights Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 26 January 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

Yarrow Heights Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 26 January 2024

Financial instruments (continued)

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was as follows:

 

Yarrow Heights Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 26 January 2024

 

4

Tangible assets

Land and buildings
£

Building improvements
 £

Total
£

Cost

At 1 January 2023 and at 26 January 2024

2,681,974

148,775

2,830,749

Depreciation

At 1 January 2023

42,347

1,955

44,302

Charge for the period

59,342

888

60,230

At 26 January 2024

101,689

2,843

104,532

Carrying amount

At 26 January 2024

2,580,285

145,932

2,726,217

At 31 December 2022

2,639,627

146,820

2,786,447

 

5

Investments

26 January 2024
£

31 December 2022
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost and carrying amount

At 1 January 2023 and at 26 January 2024

1

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2022

Subsidiary undertakings

Yarrow Heights School Ltd

England and Wales

Ordinary

100%

100%

Subsidiary undertakings

Yarrow Heights School Ltd

The principal activity of Yarrow Heights School Ltd is the provision of education services.

 

6

Debtors

26 January 2024
 £

31 December 2022
 £

Amounts owed by group undertakings

-

377,332

Prepayments and accrued income

660,690

469,410

 

660,690

846,742

 

Yarrow Heights Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 26 January 2024

 

7

Creditors

26 January 2024
 £

31 December 2022
 £

Due within one year

Amounts due to group undertakings

4,628,331

-

Accruals and deferred income

19,839

11,275

4,648,170

11,275

Due after one year

Other loans

-

4,500,000

The loans are secured by a fixed and floating charge over the company's freehold property

 

8

Share capital

Allotted, called up and fully paid shares

 

26 January 2024

31 December 2022

 

No.

£

No.

£

A Ordinary shares of £0.01 each

-

-

6,000

60

B Ordinary shares of £0.01 each

-

-

4,000

40

Ordinary shares of £0.01 each

10,000

100

-

-

 

10,000

100

10,000

100

On 26 January 2024, the 6,000 A Ordinary shares of 1p each and the 4,000 B Ordinary shares of 1p were redesignated as 10,000 Ordinary shares of 1p each.

 

9

Parent and ultimate parent undertaking

Following an acquisition on 26 January 2024, the company's immediate parent is Cavendish Education and Training Limited, incorporated in England and Wales.

 The ultimate parent is Burlington Education Partners Limited, incorporated in Guernsey. Burlington Education Partners Limited is considered to have no single controlling party.