Bedford School Enterprises Limited
Financial Statements
For the period ended 30 June 2024
Pages for Filing with Registrar
Company Registration No. 15206610 (England and Wales)
Bedford School Enterprises Limited
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
Bedford School Enterprises Limited
Balance Sheet
As at 30 June 2024
Page 1
2024
Notes
£
£
Current assets
Debtors
4
20,000
Cash at bank and in hand
175,000
195,000
Creditors: amounts falling due within one year
5
(116,019)
Net current assets
78,981
Capital and reserves
Called up share capital
6
1
Profit and loss reserves
78,980
Total equity
78,981
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 26 February 2025 and are signed on its behalf by:
C Lake
Director
Company Registration No. 15206610
Bedford School Enterprises Limited
Statement of Changes in Equity
For the period ended 30 June 2024
Page 2
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 12 October 2023
Period ended 30 June 2024:
Profit and total comprehensive income for the period
-
78,980
78,980
Issue of share capital
6
1
-
1
Balance at 30 June 2024
1
78,980
78,981
Bedford School Enterprises Limited
Notes to the Financial Statements
For the period ended 30 June 2024
Page 3
1
Accounting policies
Company information
Bedford School Enterprises Limited is a private company limited by shares incorporated in England and Wales. The registered office is Princeton Court, Pilgrim Centre, Brickhill Drive, Bedford, MK41 7PZ.
1.1
Reporting period
The company was incorporated on the 12 October 2023 and has a short accounting period to 30 June 2024. This was to make the year end align with the year end of the parent entity. This does mean that there will not be any comparatives.
1.2
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 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. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
• Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
• Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of The Harpur Trust.These consolidated financial statements are available from Companies House.
1.3
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.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with original maturities of 95 days or less.
1.5
Financial instruments
The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.
Bedford School Enterprises Limited
Notes to the Financial Statements (Continued)
For the period ended 30 June 2024
1
Accounting policies
(Continued)
Page 4
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.
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.
1.6
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.
2
Employees
There were no persons (including directors) employed by the company during the period.
3
Taxation
The company donates its profit for the year to the ultimate holding company, The Harpur Trust, a charity registered in England and Wales. No corporation tax is due based on the results of the company as no taxable profits remain in the company. These will be distributed to the parent company within 9 months of the year end.
4
Debtors
2024
Amounts falling due within one year:
£
Other debtors
20,000
Bedford School Enterprises Limited
Notes to the Financial Statements (Continued)
For the period ended 30 June 2024
Page 5
5
Creditors: amounts falling due within one year
2024
£
Other creditors
116,019
6
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary of £1 each
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:
Shivani Kothari
Statutory Auditor:
Moore Kingston Smith LLP
8
Parent company
The immediate parent and ultimate controlling party is The Harpur Trust, a company limited by guarantee and registered in England and Wales. The Harpur Trust prepares consolidated financial statements and copies can be obtained from Companies House. The registered address of the ultimate controlling party is the same as the registered address of this company.