REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
WALTON MONTESSORI LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
WALTON MONTESSORI LIMITED |
WALTON MONTESSORI LIMITED (REGISTERED NUMBER: 08550928) |
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 |
WALTON MONTESSORI LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and Statutory Auditors |
D S House |
306 High Street |
Croydon |
Surrey |
CR0 1NG |
WALTON MONTESSORI LIMITED (REGISTERED NUMBER: 08550928) |
STATEMENT OF FINANCIAL POSITION |
31 AUGUST 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
WALTON MONTESSORI LIMITED (REGISTERED NUMBER: 08550928) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
1. | STATUTORY INFORMATION |
Walton Montessori Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest Pound.. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 cash flow 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 enquires, 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 the 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 |
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: |
Leasehold Property | - 5% straight line |
Plant & machinery | - 10% reducing balance |
Fixtures and fittings | - 10% reducing balance |
Computer equipment | - 20% reducing balance |
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. |
WALTON MONTESSORI LIMITED (REGISTERED NUMBER: 08550928) |
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. |
Trade and other debtors |
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
WALTON MONTESSORI LIMITED (REGISTERED NUMBER: 08550928) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 September 2022 |
Additions |
At 31 August 2023 |
DEPRECIATION |
At 1 September 2022 |
Charge for year |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Other loans more 5yrs instal | 9,707 | 9,958 |
WALTON MONTESSORI LIMITED (REGISTERED NUMBER: 08550928) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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 to the company by these related parties amount to £750,748 (2022: £754,160). 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. |