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REGISTERED NUMBER: 01388554 (England and Wales)











INCHBALD SCHOOL OF DESIGN LTD

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2024






INCHBALD SCHOOL OF DESIGN LTD (REGISTERED NUMBER: 01388554)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6


INCHBALD SCHOOL OF DESIGN LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2024







DIRECTORS: Mrs J A Duncan OBE
A Hughes
A Duff



REGISTERED OFFICE: 7 Eaton Gate
LONDON
SW1W 9BA



REGISTERED NUMBER: 01388554 (England and Wales)



SENIOR STATUTORY AUDITOR: Richard Appleyard FCA



AUDITORS: GMP Audit Limited, Statutory Auditor
82 High Street
Tenterden
Kent
TN30 6JG

INCHBALD SCHOOL OF DESIGN LTD (REGISTERED NUMBER: 01388554)

BALANCE SHEET
31ST JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,005 7,668
Investments 5 452,061 416,267
458,066 423,935

CURRENT ASSETS
Debtors 6 343,859 294,965
Cash at bank and in hand 159,335 350,518
503,194 645,483
CREDITORS
Amounts falling due within one year 7 258,594 420,969
NET CURRENT ASSETS 244,600 224,514
TOTAL ASSETS LESS CURRENT
LIABILITIES

702,666

648,449

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 702,566 648,349
SHAREHOLDERS' FUNDS 702,666 648,449

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 Board of Directors and authorised for issue on 16th December 2024 and were signed on its behalf by:





A Duff - Director


INCHBALD SCHOOL OF DESIGN LTD (REGISTERED NUMBER: 01388554)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024


1. STATUTORY INFORMATION

Inchbald School of Design Ltd 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 the Pound Sterling (£).


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 recognition of certain assets measured at revalued amounts.

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.
Plant and machinery etc - 10% on cost and at varying rates on cost

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

INCHBALD SCHOOL OF DESIGN LTD (REGISTERED NUMBER: 01388554)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024


2. ACCOUNTING POLICIES - continued

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.

Investments
Listed investments are included at market value at the year end. Gains and losses on disposal and revaluation of investments are charged or credited to the Income Statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2023 22,022
Additions 1,359
Disposals (4,356 )
At 31st July 2024 19,025
DEPRECIATION
At 1st August 2023 14,354
Charge for year 3,022
Eliminated on disposal (4,356 )
At 31st July 2024 13,020
NET BOOK VALUE
At 31st July 2024 6,005
At 31st July 2023 7,668

INCHBALD SCHOOL OF DESIGN LTD (REGISTERED NUMBER: 01388554)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024


5. FIXED ASSET INVESTMENTS
Listed
investmen
£   
COST OR VALUATION
At 1st August 2023 416,267
Additions 299,772
Disposals (284,689 )
Revaluations 24,124
Reclassification/transfer (3,413 )
At 31st July 2024 452,061
NET BOOK VALUE
At 31st July 2024 452,061
At 31st July 2023 416,267

Cost or valuation at 31st July 2024 is represented by:

Listed
investmen
£   
Valuation in 2024 25,692
Cost 426,369
452,061

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,422 4,729
Other debtors 332,437 290,236
343,859 294,965

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 47,554 111,795
Taxation and social security 25,216 37,547
Other creditors 185,824 271,627
258,594 420,969

INCHBALD SCHOOL OF DESIGN LTD (REGISTERED NUMBER: 01388554)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 157,871 166,621
Between one and five years 143,917 303,531
301,788 470,152

9. RESERVES
Retained
earnings
£   

At 1st August 2023 648,349
Profit for the year 54,217
At 31st July 2024 702,566

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

The Report of the Auditors was unqualified.

Richard Appleyard FCA (Senior Statutory Auditor)
for and on behalf of GMP Audit Limited, Statutory Auditor