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REGISTERED NUMBER: 00712900 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

GIDEA PARK COLLEGE LIMITED

GIDEA PARK COLLEGE LIMITED (REGISTERED NUMBER: 00712900)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


GIDEA PARK COLLEGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: A K Mehta





REGISTERED OFFICE: Georgian House
Park Lane
Stanmore
HA7 3HD





REGISTERED NUMBER: 00712900 (England and Wales)





AUDITORS: DSK Partners LLP
Chartered Accountants and Statutory Auditors
D S House
306 High Street
Croydon
Surrey
CR0 1NG

GIDEA PARK COLLEGE LIMITED (REGISTERED NUMBER: 00712900)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,427,809 2,475,311

CURRENT ASSETS
Stocks 13,339 13,339
Debtors 5 485,347 545,483
Cash at bank and in hand 209,326 137,488
708,012 696,310
CREDITORS
Amounts falling due within one year 6 624,688 700,983
NET CURRENT ASSETS/(LIABILITIES) 83,324 (4,673 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,511,133

2,470,638

CREDITORS
Amounts falling due after more than one
year

7

(23,203

)

(44,530

)

PROVISIONS FOR LIABILITIES (207,749 ) (168,080 )
NET ASSETS 2,280,181 2,258,028

CAPITAL AND RESERVES
Called up share capital 11,900 11,900
Revaluation reserve 1,542,826 1,542,826
Retained earnings 725,455 703,302
2,280,181 2,258,028

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2024 and were signed by:





A K Mehta - Director


GIDEA PARK COLLEGE LIMITED (REGISTERED NUMBER: 00712900)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

Gidea Park College Limited 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.

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Going concern
As part of the directors assessment of going concern, they have prepared detailed cashflow and profit and loss forecasts for the next 12 months. The forecasts have been prepared on an appropriate basis, taking into account the current economic conditions that exist.

After making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to enable it to continue in operational existence for the foreseeable future. They believe it is appropriate to prepare accounts on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Freehold property - 1% on cost
Fixtures and equipment - Straight line over 4 to 20 years
Office equipment - Straight line over 4 to 5 years

At each statement of financial position date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


GIDEA PARK COLLEGE LIMITED (REGISTERED NUMBER: 00712900)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 31 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 September 2022 2,277,272 531,011 2,808,283
Additions 8,110 44,632 52,742
Disposals - (70,372 ) (70,372 )
At 31 August 2023 2,285,382 505,271 2,790,653
DEPRECIATION
At 1 September 2022 - 332,972 332,972
Charge for year - 21,829 21,829
Reclassification/transfer - 8,043 8,043
At 31 August 2023 - 362,844 362,844
NET BOOK VALUE
At 31 August 2023 2,285,382 142,427 2,427,809
At 31 August 2022 2,277,272 198,039 2,475,311

GIDEA PARK COLLEGE LIMITED (REGISTERED NUMBER: 00712900)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 August 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Cost 2,285,382 505,271 2,790,653

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,262 18,009
Amounts owed by group undertakings 441,408 452,101
Amounts owed by associates - 32,180
Other debtors 42,677 43,193
485,347 545,483

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 12,030 10,403
Trade creditors 88,397 144,315
Taxation and social security 21,513 93,973
Other creditors 502,748 452,292
624,688 700,983

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts - 12,030
Other creditors 23,203 32,500
23,203 44,530

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase - 12,030

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Dhirajlal Shah FCA (Senior Statutory Auditor)
for and on behalf of DSK Partners LLP

GIDEA PARK COLLEGE LIMITED (REGISTERED NUMBER: 00712900)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


9. RELATED PARTY TRANSACTIONS

Park Hill School Limited, First Steps (London) Limited, Trade Tower Limited, The Study School Limited, Inspired Learning Group (UK) Limited, Essendene Lodge School Limited, Westbury House School Limited, Grange Park Preparatory School Limited, Oakseal Ltd., Buxlow Preparatory School Limited, St Christopher's School (Private) Limited, Saint Felix School Limited, Rookwood School Limited, Inspired Learning Group (London) (1) Limited, Danesfield Manor School Limited, St Francis College Limited, Inspired Learning Group (London) (2) Limited, and Yateley Manor School London Limited, Wood Wharf Kindergarten Limited are considered related parties by virtue of Mr A Mehta's interest in these entities. The amounts owed by the company to these related parties amount to £2,591 (2022: £32,180 was owed). No interest is charged on the balances.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party for the period was Mr A Mehta.

Mr A Mehta controls 100% of the share capital of Inspired Learning Group (London) Limited. which is the ultimate parent company of the group.

The registered office of Inspired Learning Group (London) Limited is Georgian House, Park Lane, Stanmore,
England, HA7 3HD.

11. CHARGES

- There exists two fixed and floating charges over all property and undertaking of the company as per debentures dated 31st October 2019.
- There exists cross guarantees amongst various group companies in favour of its bankers.