Company registration number 05670486 (England and Wales)
ST HUGH'S CONFERENCES LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
ST HUGH'S CONFERENCES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ST HUGH'S CONFERENCES LTD
BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
387,584
617,009
Cash at bank and in hand
748
52
388,332
617,061
Creditors: amounts falling due within one year
5
(388,331)
(617,060)
Net current assets
1
1
Capital and reserves
-
-
Called up share capital
6
1
1

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 13 November 2024 and are signed on its behalf by:
Lady E Angiolini
Director
Company registration number 05670486 (England and Wales)
ST HUGH'S CONFERENCES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information

St Hugh's Conferences Ltd is a private company limited by shares incorporated in England and Wales. The registered office is St Hugh's College, St Margaret's Road, Oxford, Oxfordshire, OX1 6LE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

ST HUGH'S CONFERENCES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

There are no material accounting estimates in these accounts.

ST HUGH'S CONFERENCES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
304,151
615,290
Other debtors
83,433
1,719
387,584
617,009
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
388,331
617,060
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Katherine Wilkes
Statutory Auditor:
Critchleys Audit LLP
Date of audit report:
15 November 2024
8
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

ST HUGH'S CONFERENCES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
8
Related party transactions
(Continued)
- 5 -

Lady Elish Angiolini, a Director of St Hugh's Conferences Ltd is a non-executive director of Scottish and Southern Energy plc. During the previous year St Hugh's Conferences Ltd, made sales to Scottish and Southern Energy plc totaling £2,529 for the provision of conference room hire and provision of catering. As at 31 July 2023 there were no outstanding amounts. There were no transactions with Scottish and Southern Energy plc this year.

Other information

The company has taken advantage of the exemption in FRS 102 from disclosing transactions with other members of this group.

 

In the previous year, 1 Director received products and services with a total value of £6,765 at a discounted rate of £727. There was no outstanding balance at the year ended 31 July 2023. No products and services were received at a discounted rate by Directors during the year ended 31 July 2024.

9
Parent company

The company's immediate parent is St Hugh's College, Oxford, incorporated in England and Wales.

2024-07-312023-08-01false15 November 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityThis audit opinion is unqualifiedLady E AngioliniProfessor David DoyleG Priorfalsefalse056704862023-08-012024-07-31056704862024-07-31056704862023-07-3105670486core:CurrentFinancialInstrumentscore:WithinOneYear2024-07-3105670486core:CurrentFinancialInstrumentscore:WithinOneYear2023-07-3105670486core:ShareCapital2024-07-3105670486core:ShareCapital2023-07-3105670486bus:Director12023-08-012024-07-31056704862022-08-012023-07-3105670486core:CurrentFinancialInstruments2024-07-3105670486core:CurrentFinancialInstruments2023-07-3105670486core:WithinOneYear2024-07-3105670486core:WithinOneYear2023-07-3105670486bus:PrivateLimitedCompanyLtd2023-08-012024-07-3105670486bus:SmallCompaniesRegimeForAccounts2023-08-012024-07-3105670486bus:FRS1022023-08-012024-07-3105670486bus:Audited2023-08-012024-07-3105670486bus:Director22023-08-012024-07-3105670486bus:Director32023-08-012024-07-3105670486bus:FullAccounts2023-08-012024-07-31xbrli:purexbrli:sharesiso4217:GBP