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Registration number: 14552378

Black Mountains College Operations Ltd

Annual Report and

Unaudited Financial Statements


for the Year Ended 31 July 2024

 

Black Mountains College Operations Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Black Mountains College Operations Ltd

Company Information

Directors

Mr B Rawlence

Mr W J Lana

Prof R Thomas

Mr K N Wills

Company secretary

Mr B Rawlence

Registered office

Unit 3 New Street
Talgarth
Powys
LD3 0AH

 

Bankers

Barclays Bank UK Plc
Leicester
LE87 2BB

Accountants

W J James & Co
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Black Mountains College Operations Ltd

(Registration number: 14552378)

Balance Sheet
as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

19,683

-

Current assets

 

Debtors

5

167,153

-

Cash at bank and in hand

 

542,570

-

 

709,723

-

Creditors: Amounts falling due within one year

6

(29,944)

-

Net current assets

 

679,779

-

Net assets

 

699,462

-

Capital and reserves

 

Called up share capital

7

45,800

-

Share premium reserve

970,200

-

Retained earnings

(316,538)

-

Shareholders' funds

 

699,462

-

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 10 January 2025 and signed on its behalf by:
 

.........................................
Mr B Rawlence
Company secretary and director

 

Black Mountains College Operations Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 3 New Street
Talgarth
Powys
LD3 0AH

These financial statements were authorised for issue by the Board on 10 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity, and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% straight line

Office equipment

33.3% straight line

 

Black Mountains College Operations Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 29 (2023 - 0).

 

Black Mountains College Operations Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

29,363

29,363

At 31 July 2024

29,363

29,363

Depreciation

Charge for the period

9,680

9,680

At 31 July 2024

9,680

9,680

Carrying amount

At 31 July 2024

19,683

19,683

5

Debtors

Current

2024
£

2023
£

Trade debtors

31,327

-

Prepayments

3,582

-

Other debtors

132,244

-

 

167,153

-

 

Black Mountains College Operations Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

7,373

-

Taxation and social security

13,461

-

Accruals and deferred income

6,732

-

Other creditors

2,378

-

29,944

-

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary share capital of £1 (2023 - £0) each

45,800

45,800

-

-

         
 

Black Mountains College Operations Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2024

8

Related party transactions

Summary of transactions with other related parties

£272,618 (2023: £Nil) was received from Black Mountains College Project during the year ending 31 July 2024. This is an organistion that holds 36,000 shares in Black Mountains College Operations Ltd.

All transactions have taken place on an arms length basis.

At 31 July 2024 a debtor of £31,327 (2003: £Nil) was owed from them.