THE SOUTHWATER INFANT ACADEMY

Company limited by guarantee

Company Registration Number:
07540811 (England and Wales)

Unaudited statutory accounts for the year ended 31 August 2024

Period of accounts

Start date: 1 September 2023

End date: 31 August 2024

THE SOUTHWATER INFANT ACADEMY

Contents of the Financial Statements

for the Period Ended 31 August 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

THE SOUTHWATER INFANT ACADEMY

Directors' report period ended 31 August 2024

The directors present their report with the financial statements of the company for the period ended 31 August 2024

Principal activities of the company

The operation of The Southwater Infant Academy to provide a broad and balanced education for pupils of all abilities in the Southwater area.



Directors

The directors shown below have held office during the whole of the period from
1 September 2023 to 31 August 2024

Clare Quinlisk
Peter Buckley
Nava Flower
Katy Tyrrell
Christie Cavallo
Katherine Yardley-Turpin


The director shown below has held office during the period of
1 September 2023 to 23 July 2024

Jennifer Legg


The director shown below has held office during the period of
1 September 2023 to 25 March 2024

Deborah O'Toole-Quinn


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
12 December 2024

And signed on behalf of the board by:
Name: Clare Quinlisk
Status: Director

THE SOUTHWATER INFANT ACADEMY

Profit And Loss Account

for the Period Ended 31 August 2024

2024 2023


£

£
Turnover: 1,671,578 1,649,293
Cost of sales: ( 1,757,679 ) ( 1,707,388 )
Gross profit(or loss): (86,101) (58,095)
Distribution costs: 0 0
Administrative expenses: ( 8,650 ) ( 8,000 )
Other operating income: 0 0
Operating profit(or loss): (94,751) (66,095)
Interest receivable and similar income: 5,895 2,725
Interest payable and similar charges: 0 0
Profit(or loss) before tax: (88,856) (63,370)
Tax: 0 0
Profit(or loss) for the financial year: (88,856) (63,370)

THE SOUTHWATER INFANT ACADEMY

Balance sheet

As at 31 August 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 3,053,647 3,122,324
Investments:   0 0
Total fixed assets: 3,053,647 3,122,324
Current assets
Stocks:   0 0
Debtors: 4 35,555 43,510
Cash at bank and in hand: 649,629 683,242
Investments:   0 0
Total current assets: 685,184 726,752
Creditors: amounts falling due within one year: 5 ( 146,587 ) ( 148,163 )
Net current assets (liabilities): 538,597 578,589
Total assets less current liabilities: 3,592,244 3,700,913
Creditors: amounts falling due after more than one year: 6 0 ( 2,813 )
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 3,592,244 3,698,100
Members' funds
Profit and loss account: 3,592,244 3,698,100
Total members' funds: 3,592,244 3,698,100

The notes form part of these financial statements

THE SOUTHWATER INFANT ACADEMY

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

This report was approved by the board of directors on 12 December 2024
and signed on behalf of the board by:

Name: Clare Quinlisk
Status: Director

The notes form part of these financial statements

THE SOUTHWATER INFANT ACADEMY

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    Assets costing £2,000 or more are capitalised as tangible fixed assets and are carried at cost, net of depreciation and any provision for impairment. Where tangible fixed assets have been acquired with the aid of specific grants, either from the government or from the private sector, they are included in the Balance sheet at cost and depreciated over their expected useful economic life. Where there are specific conditions attached to the funding requiring the continued use of the asset, the related grants are credited to a restricted fixed asset fund in the Statement of financial activities and carried forward in the Balance sheet. Depreciation on the relevant assets is charged directly to the restricted fixed asset fund in the Statement of financial activities. Where tangible fixed assets have been acquired with unrestricted funds, depreciation on such assets is charged to the unrestricted fund. Depreciation is provided on all tangible fixed assets other than freehold land and assets under construction, at rates calculated to write off the cost of each asset on a basis over its expected useful life, as follows: Depreciation is provided on the following bases: Long-term leasehold property - 125 years Improvements to leasehold properties - 10 - 30 years Plant and machinery - 5 - 10 years Computer equipment - 2 - 5 years A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.

    Other accounting policies

    Going concern, reserves, income, expenditure, debtors, cash, liabilities, Financial Instruments, Pensions and Fund Accounting

THE SOUTHWATER INFANT ACADEMY

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 45 45

THE SOUTHWATER INFANT ACADEMY

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 September 2023 3,568,030 101,983 0 86,947 0 3,756,960
Additions 0 12,217 0 0 0 12,217
Disposals 0 0 0 0 0 0
Revaluations 0 0 0 0 0 0
Transfers 0 0 0 0 0 0
At 31 August 2024 3,568,030 114,200 0 86,947 0 3,769,177
Depreciation
At 1 September 2023 487,481 77,503 0 69,652 0 634,636
Charge for year 68,096 2,950 0 9,848 0 80,894
On disposals 0 0 0 0 0 0
Other adjustments 0 0 0 0 0 0
At 31 August 2024 555,577 80,453 0 79,500 0 715,530
Net book value
At 31 August 2024 3,012,453 33,747 0 7,447 0 3,053,647
At 31 August 2023 3,080,549 24,480 0 17,295 0 3,122,324

THE SOUTHWATER INFANT ACADEMY

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Debtors

2024 2023
£ £
Trade debtors 1,921 3,928
Prepayments and accrued income 14,693 25,576
Other debtors 18,941 14,006
Total 35,555 43,510
Debtors due after more than one year: 0 0

THE SOUTHWATER INFANT ACADEMY

Notes to the Financial Statements

for the Period Ended 31 August 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 5,002 1,685
Taxation and social security 16,427 20,120
Accruals and deferred income 104,533 103,895
Other creditors 20,625 22,463
Total 146,587 148,163

THE SOUTHWATER INFANT ACADEMY

Notes to the Financial Statements

for the Period Ended 31 August 2024

6. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Other creditors 0 2,813
Total 0 2,813

THE SOUTHWATER INFANT ACADEMY

Notes to the Financial Statements

for the Period Ended 31 August 2024

7. Financial Commitments

Explanation of pension and financial commitments and reference in the reserves policy to being able to meet all commitments.