REGISTERED NUMBER: |
CAMPUS MANAGEMENT CORP UK LTD |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
REGISTERED NUMBER: |
CAMPUS MANAGEMENT CORP UK LTD |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
CAMPUS MANAGEMENT CORP UK LTD (REGISTERED NUMBER: 06848622) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
CAMPUS MANAGEMENT CORP UK LTD |
COMPANY INFORMATION |
For The Year Ended 30 June 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
& Statutory Auditors |
Hilden Park House |
79 Tonbridge Road |
Hildenborough |
Tonbridge |
Kent |
TN11 9BH |
CAMPUS MANAGEMENT CORP UK LTD (REGISTERED NUMBER: 06848622) |
ABRIDGED BALANCE SHEET |
30 June 2024 |
30/6/24 | 30/6/23 |
Notes | $ | $ | $ | $ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The financial statements were approved by the Board of Directors and authorised for issue on |
CAMPUS MANAGEMENT CORP UK LTD (REGISTERED NUMBER: 06848622) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Campus Management Corp UK Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in United States dollars, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest $. |
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 the profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements: |
Section 4 'Statement of Financial Position': Reconciliation of the opening and closing number of shares; |
Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument issues': Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income; |
Section 33 'Related Party Disclosures': Compensation for key management personnel. |
The financial statements of the company are consolidated in the financial statements of Anthology Inc. These consolidated financial statements are available from its registered office 5201 Congress Ave, Boca Raton FL33487. |
Going concern |
At the time of approving the financial statements , the directors have a reasonable expectation that the |
company has adequate resources to continue in operational existence for the foreseeable future. Thus the |
directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
CAMPUS MANAGEMENT CORP UK LTD (REGISTERED NUMBER: 06848622) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration |
is the present value of the future receipts. The difference between the fair value of the consideration and |
the nominal amount received is recognised as interest income. |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the |
goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be |
measured reliably, it is probable that the economic benefits associated with the transaction will flow to the |
entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
Revenue from contracts for the provision of professional services is recognised by reference to the stage |
of completion when the stage of completion, costs incurred and costs to complete can be estimated |
reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual |
hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated |
reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be |
recovered. |
Intangible fixed assets - goodwill |
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value |
of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost |
less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a straight line basis over its expected life, which is 5 years. |
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to |
benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for |
impairment at least annually, or more frequently when there is an indication that the unit may be impaired. |
If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the |
impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and |
then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit. |
CAMPUS MANAGEMENT CORP UK LTD (REGISTERED NUMBER: 06848622) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Intangible fixed assets other than goodwill |
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. |
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. |
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity. |
Intangible assets comprise primarily customer relationships purchased through the acquisition of Hobsons PLC. Such assets are defined as having finite useful lives and the costs are amortised on a straight line basis over their useful lives of 5 years. Intangible assets are stated at cost less amortisation and are reviews for impairment whenever there is an indication that the carrying value may be impaired. |
Amortisation is recognised so as to write off the cost of valuation of assets less their residual values over their useful lives on the following bases: |
Customer Relationships Amortised on a straight line basis over a useful life of 5 years. |
CAMPUS MANAGEMENT CORP UK LTD (REGISTERED NUMBER: 06848622) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of |
depreciation and any impairment losses. |
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over |
their useful lives on the following bases: |
Computers - Straight line over 4 years. |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale |
proceeds and the carrying value of the asset, and is credited or charged to profit or loss. |
Impairment of fixed assets |
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible |
assets to determine whether there is any indication that those assets have suffered an impairment loss. If |
any such indication exists, the recoverable amount of the asset is estimated in order to determine the |
extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an |
individual asset, the company estimates the recoverable amount of the cash-generating unit to which the |
asset belongs. |
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in |
use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that |
reflects current market assessments of the time value of money and the risks specific to the asset for |
which the estimates of future cash flows have not been adjusted. |
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying |
amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. |
An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a |
revalued amount, in which case the impairment loss is treated as a revaluation decrease. |
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have |
ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or |
cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the |
increased carrying amount does not exceed the carrying amount that would have been determined had no |
impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an |
impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a |
revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. |
CAMPUS MANAGEMENT CORP UK LTD (REGISTERED NUMBER: 06848622) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Other financial assets |
Other financial assets, including investments in equity instruments which are not subsidiaries, associates |
or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets |
are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except |
that investments in equity instruments that are not publicly traded and whose fair values cannot be |
measured reliably are measured at cost less impairment. |
Impairment of financial assets |
Financial assets, other than those held at fair value through profit and loss , are assessed for indicators of |
impairment at each reporting end date. |
Financial assets are impaired where there is objective evidence that, as a result of one or more events that |
occurred after the initial recognition of the financial asset, the estimated future cash flows have been |
affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the |
present value of the estimated cash flows discounted at the asset’s original effective interest rate. The |
impairment loss is recognised in profit or loss. |
If there is a decrease in the impairment loss arising from an event occurring after the impairment was |
recognised, the impairment is reversed. The reversal is such that the current carrying amount does not |
exceed what the carrying amount would have been, had the impairment not previously been recognised. |
The impairment reversal is recognised in profit or loss. |
Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire |
or are settled, or when the company transfers the financial asset and substantially all the risks and rewards |
of ownership to another entity, or if some significant risks and rewards of ownership are retained but |
control of the asset has transferred to another party that is able to sell the asset in its entirety to an |
unrelated third party. |
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 |
CAMPUS MANAGEMENT CORP UK LTD (REGISTERED NUMBER: 06848622) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
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 payment is 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. A mounts 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. |
Other financial liabilities |
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial |
instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered |
into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are |
recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is |
applied and the hedge is a cash flow hedge. |
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured |
at fair value through profit or loss. Debt instruments may be designated as being measured at fair value |
though profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and |
their performance evaluated on a fair value basis in accordance with a documented risk management or |
investment strategy. |
Derecognition of financial liabilities |
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged |
or cancelled. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
CAMPUS MANAGEMENT CORP UK LTD (REGISTERED NUMBER: 06848622) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - |
4. | INTANGIBLE FIXED ASSETS |
Totals |
$ |
COST |
At 1 July 2023 |
Additions |
Exchange differences | ( |
) |
At 30 June 2024 |
AMORTISATION |
At 1 July 2023 |
Amortisation for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
CAMPUS MANAGEMENT CORP UK LTD (REGISTERED NUMBER: 06848622) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 June 2024 |
5. | TANGIBLE FIXED ASSETS |
Totals |
$ |
COST |
At 1 July 2023 |
Exchange differences | ( |
) |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
7. | ULTIMATE CONTROLLING PARTY |
The Company's immediate parent company is Anthology Inc. a company registered in the United States whose address is 5201 Congress Ave, Boca Raton, FL 33487. |