Company registration number 03851443 (England and Wales)
THE ROCHE SCHOOL LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
THE ROCHE SCHOOL LIMITED
COMPANY INFORMATION
Directors
Mrs M C Hidalgo Fiera De Roche
Mr J A Roche
Miss S Roche
Secretary
Mr J A Roche
Company number
03851443
Registered office
11 Frogmore
London
SW18 1HW
Auditor
Bryden Johnson Limited
Kings Parade
Lower Coombe Street
Croydon
Surrey
CR0 1AA
Business address
11 Frogmore
London
SW18 1HW
THE ROCHE SCHOOL LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Independent auditor's report
3 - 5
Profit and loss account
6
Statement of comprehensive income
7
Balance sheet
8
Statement of changes in equity
9
Statement of cash flows
10
Notes to the financial statements
11 - 22
THE ROCHE SCHOOL LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -

The directors present the strategic report for the year ended 31 August 2024.

Review of the business

The activity for which the school is established is to promote and provide the advancement of education. The principle activity continues that be that of an independent prep school catering for boys and girls from age two to eleven.

 

The Roche School Limited achieved sales of £5,521,160 (2023 : £4,925,041) and delivered a profit/(loss) before tax of £564,736 (2023160,810).

 

The net assets in The Roche School Limited at the year end were £5,895,176 (2023 : £3,469,621).

Principal risks and uncertainties

The main risks to the school are pupil recruitment and retention, compliance within an ever-changing regulatory environment, maintaining a healthy financial status, recruiting and retaining high calibre teaching and support staff and preserving the excellent reputation of the school.

Key performance indicators

Given the straightforward nature of the business, the company's directors are of the opinion that analysis using KPIs is not necessary for an understanding of the development, performance or position of the business.

On behalf of the board

Mr J A Roche
Director
22 April 2025
THE ROCHE SCHOOL LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -

The directors present their annual report and financial statements for the year ended 31 August 2024.

Principal activities

The principal activity of the company continued to be that of provision of private schooling.

Results and dividends

The results for the year are set out on page 6.

Ordinary dividends were paid amounting to £130,000. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mrs M C Hidalgo Fiera De Roche
Mr J A Roche
Miss S Roche
Auditor

The auditor, Bryden Johnson Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
Mr J A Roche
Director
22 April 2025
THE ROCHE SCHOOL LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE ROCHE SCHOOL LIMITED
- 3 -
Opinion

We have audited the financial statements of The Roche School Limited (the 'company') for the year ended 31 August 2024 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

THE ROCHE SCHOOL LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE ROCHE SCHOOL LIMITED (CONTINUED)
- 4 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to UK taxation, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to management override of controls. Audit procedures performed by the engagement team included:

 

- Reviewing minutes of meetings of those charged with governance;

- Enquiry of management and those charged with governance around actual and potential litigation and claims;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations, and

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness and testing accounting estimates (because of the risk of management bias).

 

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

THE ROCHE SCHOOL LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE ROCHE SCHOOL LIMITED (CONTINUED)
- 5 -

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jackie Wilding (Senior Statutory Auditor)
For and on behalf of Bryden Johnson Limited, Statutory Auditor
Chartered Accountants
Kings Parade
Lower Coombe Street
Croydon
Surrey
CR0 1AA
29 April 2025
THE ROCHE SCHOOL LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
2024
2023
Notes
£
£
Turnover
2
5,521,160
4,925,041
Cost of sales
(4,006,727)
(3,806,680)
Gross profit
1,514,433
1,118,361
Administrative expenses
(992,389)
(994,494)
Operating profit
3
522,044
123,867
Interest receivable and similar income
6
64,357
80,915
Interest payable and similar expenses
7
(21,665)
(43,972)
Profit before taxation
564,736
160,810
Tax on profit
8
(864,575)
(77,969)
(Loss)/profit for the financial year
(299,839)
82,841

The profit and loss account has been prepared on the basis that all operations are continuing operations.

THE ROCHE SCHOOL LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
2024
2023
£
£
(Loss)/profit for the year
(299,839)
82,841
Other comprehensive income
Revaluation of tangible fixed assets
2,855,394
-
0
Total comprehensive income for the year
2,555,555
82,841
THE ROCHE SCHOOL LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
6,475,692
3,723,061
Current assets
Debtors
11
15,195
25,077
Cash at bank and in hand
2,859,493
2,417,129
2,874,688
2,442,206
Creditors: amounts falling due within one year
12
(1,455,204)
(1,443,476)
Net current assets
1,419,484
998,730
Total assets less current liabilities
7,895,176
4,721,791
Creditors: amounts falling due after more than one year
13
(1,148,583)
(1,102,610)
Provisions for liabilities
(851,417)
(149,560)
Net assets
5,895,176
3,469,621
Capital and reserves
Called up share capital
17
100
100
Revaluation reserve
18
2,855,394
-
0
Profit and loss reserves
3,039,682
3,469,521
Total equity
5,895,176
3,469,621
The financial statements were approved by the board of directors and authorised for issue on 22 April 2025 and are signed on its behalf by:
Mrs M C Hidalgo Fiera De Roche
Director
Company Registration No. 03851443
THE ROCHE SCHOOL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024
- 9 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 September 2022
100
-
0
3,516,680
3,516,780
Year ended 31 August 2023:
Profit and total comprehensive income
-
-
82,841
82,841
Dividends
9
-
-
(130,000)
(130,000)
Balance at 31 August 2023
100
-
0
3,469,521
3,469,621
Year ended 31 August 2024:
Loss
-
-
(299,839)
(299,839)
Other comprehensive income:
Revaluation of tangible fixed assets
-
2,855,394
-
2,855,394
Total comprehensive income
-
2,855,394
(299,839)
2,555,555
Dividends
9
-
-
(130,000)
(130,000)
Balance at 31 August 2024
100
2,855,394
3,039,682
5,895,176
THE ROCHE SCHOOL LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
- 10 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
22
1,242,056
1,350,361
Interest paid
(21,665)
(43,972)
Corporation tax refunded / (paid)
(47,487)
56,054
Net cash inflow from operating activities
1,172,904
1,362,443
Investing activities
Purchase of tangible fixed assets
(4,933)
(18,505)
Interest received
64,357
62,676
Other income received from investments
-
0
59,533
Net cash generated from investing activities
59,424
103,704
Financing activities
Repayment of bank loans
(659,964)
(68,539)
Dividends paid
(130,000)
(130,000)
Net cash used in financing activities
(789,964)
(198,539)
Net increase in cash and cash equivalents
442,364
1,267,608
Cash and cash equivalents at beginning of year
2,417,129
1,149,521
Cash and cash equivalents at end of year
2,859,493
2,417,129
THE ROCHE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 11 -
1
Accounting policies
Company information

The Roche School Limited is a private company limited by shares incorporated in England and Wales. The registered office is 11 Frogmore, London, SW18 1HW.

1.1
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.

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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principle accounting policies adopted are set out below.

1.2
Going concern

Atruet 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.

1.3
Turnover

Revenue is recognised at the fair value of the school fees received or receivable in the normal course of business. School fees are received in advance and recognised in the school year to which they relate with any fees not relating to the school year being included in deferred income.

1.4
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:

Land and buildings Freehold
Nil
Land and buildings Leasehold
2.5% Straight line
Leasehold improvements
2.5% Straight line
Integral Features
2.5% Straight line
Fixtures, fittings & equipment
25% Reducing balance
Motor vehicles
25% Reducing balance

Freehold land and assets are not depreciated on the basis that repairs expenditure is incurred to maintain the condition of the asset. Which is at least equivalent to what depreciation would have been.

 

Although this accounting policy is in accordance with FRS 102, it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been changed cannot be separately identified or quantified.

THE ROCHE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 12 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
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.

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.

THE ROCHE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 13 -
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.

 

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.

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 through 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.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

THE ROCHE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 14 -
1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Turnover and other revenue

An analysis of the company's turnover is as follows:

2024
2023
£
£
Turnover analysed by class of business
Private schooling
5,521,160
4,925,041
2024
2023
£
£
Other revenue
Interest income
64,357
21,382
3
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
7,013
7,200
Depreciation of owned tangible fixed assets
107,696
120,075
Operating lease charges
264,539
224,358
THE ROCHE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 15 -
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Staff
94
100

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
2,777,736
2,744,986
Social security costs
263,180
262,530
Pension costs
482,603
496,223
3,523,519
3,503,739

 

5
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
-
0
40,561
Company pension contributions to defined contribution schemes
-
36,269
-
76,830
6
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
64,357
21,382
Income from fixed asset investments
Income from participating interests - associates
-
0
59,533
Total income
64,357
80,915
2024
2023
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
64,357
21,382
THE ROCHE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 16 -
7
Interest payable and similar expenses
2024
2023
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
17,015
40,185
Other finance costs:
Other interest
4,650
3,787
21,665
43,972
8
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
162,718
47,487
Deferred tax
Origination and reversal of timing differences
701,857
30,482
Total tax charge
864,575
77,969

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
564,736
160,810
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 21.52%)
141,184
34,606
Tax effect of expenses that are not deductible in determining taxable profit
-
0
(1,639)
Permanent capital allowances in excess of depreciation
18,862
36,603
Depreciation on assets not qualifying for tax allowances
-
0
8,602
Enhanced capital allowances
-
0
(203)
Deferred tax adjustment
701,857
-
0
Pension adjustment
2,672
-
0
Taxation charge for the year
864,575
77,969
9
Dividends
2024
2023
£
£
Interim paid
130,000
130,000
THE ROCHE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 17 -
10
Tangible fixed assets
Land and buildings Freehold
Land and buildings Leasehold
Leasehold improvements
Integral Features
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
£
£
Cost or valuation
At 1 September 2023
3,435,995
1,589,063
213,111
459,371
843,633
136,200
6,677,373
Additions
-
0
-
0
-
0
-
0
4,933
-
0
4,933
Revaluation
2,855,394
-
0
-
0
-
0
-
0
-
0
2,855,394
At 31 August 2024
6,291,389
1,589,063
213,111
459,371
848,566
136,200
9,537,700
Depreciation and impairment
At 1 September 2023
1,391,389
670,557
15,793
98,817
681,635
96,121
2,954,312
Depreciation charged in the year
-
0
39,727
5,328
11,482
41,139
10,020
107,696
At 31 August 2024
1,391,389
710,284
21,121
110,299
722,774
106,141
3,062,008
Carrying amount
At 31 August 2024
4,900,000
878,779
191,990
349,072
125,792
30,059
6,475,692
At 31 August 2023
2,044,606
918,506
197,318
360,554
161,998
40,079
3,723,061
THE ROCHE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 18 -

The freehold property in the accounts underwent a formal valuation in January 2025 and as a result the property has been revalued in these accounts. The valuation was made on an open market valuation basis by reference to market evidence of transaction prices for similar properties.

Land and buildings with a carrying amount of £4,900,000 was revalued on 24th January 2025 by Newmark Gerald Eve LLP, independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

The revaluation surplus is disclosed in note 18

Land and buildings are carried at valuation. If land and buildings were measured using the cost model, the carrying amounts would have been approximately £2,044,606 (2023: £2,044,606), being cost £3,435,995 (2023: £3,435,995).and depreciation £1,391,389 (2023: £1,391,389)

11
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
-
0
2,791
Prepayments and accrued income
15,195
22,286
15,195
25,077
12
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
14
-
0
659,964
Trade creditors
65,993
33,315
Corporation tax
162,718
47,487
Other taxation and social security
72,675
70,218
Other creditors
211,763
147,149
Accruals and deferred income
942,055
485,343
1,455,204
1,443,476
13
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,148,583
1,102,610
THE ROCHE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 19 -
14
Loans and overdrafts
2024
2023
£
£
Bank loans
-
0
659,964
Payable within one year
-
0
659,964

 

The bank loan was secured by fixed charges which also contains a negative pledge.

15
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accerlerated Capital Allowances
137,568
149,560
Revaluations
713,849
-
851,417
149,560
2024
Movements in the year:
£
Liability at 1 September 2023
149,560
Charge to profit or loss
701,857
Liability at 31 August 2024
851,417
16
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
482,603
496,223

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

THE ROCHE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 20 -
17
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
18
Revaluation reserve
2024
2023
£
£
At the beginning of the year
-
0
-
0
Revaluation surplus arising in the year
2,855,394
-
0
At the end of the year
2,855,394
-
THE ROCHE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 21 -
19
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
129,089
129,089
Between two and five years
438,203
503,203
In over five years
54,167
119,167
621,459
751,459
20
Related party transactions

Included in creditors more than one year is an amount of £60,000 owed to the C M Roche Will Trust. The interest paid to the trust during the period at an annual rate of 7.75% was £3,720 (2023 : £3,720). Mr J Roche is a trustee of The CM Roche Will Trust.

 

 

21
Directors' transactions

At period end, included within other creditors is an amount of £Nil (2023 : £Nil) due to the directors of the company.

22
Cash generated from operations
2024
2023
£
£
(Loss)/profit for the year after tax
(299,839)
82,841
Adjustments for:
Taxation charged
864,575
77,969
Finance costs
21,665
43,972
Investment income
(64,357)
(80,915)
Depreciation and impairment of tangible fixed assets
107,697
120,075
Movements in working capital:
Decrease in debtors
9,882
979,527
Increase in creditors
602,434
126,892
Cash generated from operations
1,242,056
1,350,361
THE ROCHE SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 22 -
23
Analysis of changes in net funds
1 September 2023
Cash flows
31 August 2024
£
£
£
Cash at bank and in hand
2,417,129
442,364
2,859,493
Borrowings excluding overdrafts
(659,964)
659,964
-
1,757,165
1,102,328
2,859,493
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