REGISTERED NUMBER: |
Edmiston Parade School Ltd |
Unaudited Financial Statements |
for the Year Ended 30th June 2024 |
REGISTERED NUMBER: |
Edmiston Parade School Ltd |
Unaudited Financial Statements |
for the Year Ended 30th June 2024 |
Edmiston Parade School Ltd (Registered number: 13739348) |
Contents of the Financial Statements |
for the year ended 30th June 2024 |
Page |
Company information | 1 |
Balance sheet | 2 | to | 3 |
Notes to the financial statements | 4 | to | 7 |
Edmiston Parade School Ltd |
Company Information |
for the year ended 30th June 2024 |
Directors: |
Registered office: |
Business address: |
Registered number: |
Accountants: |
Academy House |
Shedden Park Road |
Kelso |
Roxburghshire |
TD5 7AL |
Edmiston Parade School Ltd (Registered number: 13739348) |
Balance Sheet |
30th June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
Net liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
Edmiston Parade School Ltd (Registered number: 13739348) |
Balance Sheet - continued |
30th June 2024 |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Edmiston Parade School Ltd (Registered number: 13739348) |
Notes to the Financial Statements |
for the year ended 30th June 2024 |
1. | Statutory information |
Edmiston Parade School Ltd is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end. |
Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Freehold property | - |
Fixtures and fittings | - |
Office equipment | - |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Financial instruments |
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, bank loans, other loans and directors' loans. |
Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
Directors' loans (being repayable on demand), trade debtors, trade creditors, other loans and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings. |
Edmiston Parade School Ltd (Registered number: 13739348) |
Notes to the Financial Statements - continued |
for the year ended 30th June 2024 |
2. | Accounting policies - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
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. |
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis. |
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred. |
As at the date of approving these financial statements the directors are actively seeking the best option for disposing of the company's freehold property. In turn this should allow all outstanding loans to be settled. It is anticipated that the company will then be wound up. |
3. | Employees and directors |
The average number of employees during the year was |
Edmiston Parade School Ltd (Registered number: 13739348) |
Notes to the Financial Statements - continued |
for the year ended 30th June 2024 |
4. | Intangible fixed assets |
Website | Branding | Totals |
£ | £ | £ |
Cost |
At 1st July 2023 |
Additions |
At 30th June 2024 |
Amortisation |
At 1st July 2023 |
Amortisation for year |
At 30th June 2024 |
Net book value |
At 30th June 2024 |
At 30th June 2023 |
5. | Tangible fixed assets |
Fixtures |
Freehold | and | Office |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1st July 2023 |
Additions |
At 30th June 2024 |
Depreciation |
At 1st July 2023 |
Charge for year |
At 30th June 2024 |
Net book value |
At 30th June 2024 |
At 30th June 2023 |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Edmiston Parade School Ltd (Registered number: 13739348) |
Notes to the Financial Statements - continued |
for the year ended 30th June 2024 |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Other creditors |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Other loans more 5yrs non-inst |
9. | Secured debts |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Other loans |
Ultimate Bridging Finance Limited hold a fixed and floating charge over all of the property or undertaking of the company. |