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Company registration number: 03649660
Dallington School Limited
Unaudited filleted financial statements
31 July 2024
Dallington School Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Dallington School Limited
Directors and other information
Director A R Hercules
Secretary F Hercules
Company number 03649660
Registered office 5 Underwood Street
London
N1 7LY
Dallington School Limited
Statement of financial position
31 July 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 5,210,990 5,208,927
_______ _______
5,210,990 5,208,927
Current assets
Debtors 6 88,234 60,378
Cash at bank and in hand 625,252 156,280
_______ _______
713,486 216,658
Creditors: amounts falling due
within one year 7 ( 854,512) ( 269,261)
_______ _______
Net current liabilities ( 141,026) ( 52,603)
_______ _______
Total assets less current liabilities 5,069,964 5,156,324
Creditors: amounts falling due
after more than one year 8 ( 406,974) ( 98,626)
_______ _______
Net assets 4,662,990 5,057,698
_______ _______
Capital and reserves
Called up share capital 2 2
Share premium account 24,241 24,241
Capital contributions 4,950,500 4,950,500
Profit and loss account ( 311,753) 82,955
_______ _______
Shareholders funds 4,662,990 5,057,698
_______ _______
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 April 2025 , and are signed on behalf of the board by:
A R Hercules
Director
Company registration number: 03649660
Dallington School Limited
Statement of changes in equity
Year ended 31 July 2024
Called up share capital Share premium account Capital contributions Profit and loss account Total
£ £ £ £ £
At 1 August 2022 2 24,241 4,950,500 479,104 5,453,847
Loss for the year ( 396,149) ( 396,149)
_______ _______ _______ _______ _______
Total comprehensive income for the year - - - ( 396,149) ( 396,149)
_______ _______ _______ _______ _______
At 31 July 2023 and 1 August 2023 2 24,241 4,950,500 82,955 5,057,698
Loss for the year ( 394,708) ( 394,708)
_______ _______ _______ _______ _______
Total comprehensive income for the year - - - ( 394,708) ( 394,708)
_______ _______ _______ _______ _______
At 31 July 2024 2 24,241 4,950,500 ( 311,753) 4,662,990
_______ _______ _______ _______ _______
Dallington School Limited
Notes to the financial statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Underwood Street, London, N1 7LY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - No depreciation
Plant and machinery - 25 % straight line
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 29 (2023: 29 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 1 August 2023 5,200,000 74,446 327,670 5,602,116
Additions - - 7,025 7,025
_______ _______ _______ _______
At 31 July 2024 5,200,000 74,446 334,695 5,609,141
_______ _______ _______ _______
Depreciation
At 1 August 2023 - 74,446 318,743 393,189
Charge for the year - - 4,962 4,962
_______ _______ _______ _______
At 31 July 2024 - 74,446 323,705 398,151
_______ _______ _______ _______
Carrying amount
At 31 July 2024 5,200,000 - 10,990 5,210,990
_______ _______ _______ _______
At 31 July 2023 5,200,000 - 8,927 5,208,927
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 60,376 2,229
Other debtors 27,858 58,149
_______ _______
88,234 60,378
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 65,059 29,220
Social security and other taxes 18,509 19,526
Other creditors 770,944 220,515
_______ _______
854,512 269,261
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 406,974 98,626
_______ _______
9. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 8,712 9,116
Later than 1 year and not later than 5 years 32,670 18,232
_______ _______
41,382 27,348
_______ _______
10. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
A R Hercules - ( 341,254) ( 341,254)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
A R Hercules - - -
_______ _______ _______