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COMPANY REGISTRATION NUMBER: 10323174
All Saints School (Lessingham) Limited
Unaudited financial statements
31 August 2024
All Saints School (Lessingham) Limited
Statement of financial position
31 August 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
6
753,357
126,835
Current assets
Debtors
7
43,584
42,736
Cash at bank and in hand
434,118
378,487
---------
---------
477,702
421,223
Creditors: Amounts falling due within one year
8
( 676,231)
( 135,761)
---------
---------
Net current (liabilities)/assets
( 198,529)
285,462
---------
---------
Total assets less current liabilities
554,828
412,297
Provisions
Taxation including deferred tax
( 20,894)
( 18,413)
---------
---------
Net assets
533,934
393,884
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
533,834
393,784
---------
---------
Shareholders funds
533,934
393,884
---------
---------
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 income statement has not been delivered.
For the year ending 31 August 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 30 April 2025 , and are signed on behalf of the board by:
Mrs R Smith
Director
Company registration number: 10323174
All Saints School (Lessingham) Limited
Notes to the financial statements
Year ended 31 August 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 Rookery Farm, Reynolds Lane, Potter Heigham, Great Yarmouth, Norfolk, NR29 5LY, England. The trading address for the company is All Saints School, School Road, Lessingham, Norwich, NR12 0DJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and 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:
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
15% reducing balance
Equipment
-
33% straight line
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 42 (2023: 40 ).
5. Intangible assets
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
11,100
-------
Amortisation
At 1 September 2023 and 31 August 2024
11,100
-------
Carrying amount
At 31 August 2024
-------
At 31 August 2023
-------
6. Tangible assets
Freehold property
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 September 2023
157,062
30,782
82,005
269,849
Additions
580,198
16,151
46,994
10,492
653,835
Disposals
( 1,184)
( 1,184)
---------
---------
-------
-------
---------
At 31 August 2024
580,198
173,213
76,592
92,497
922,500
---------
---------
-------
-------
---------
Depreciation
At 1 September 2023
57,223
10,160
75,631
143,014
Charge for the year
16,676
4,847
5,410
26,933
Disposals
( 804)
( 804)
---------
---------
-------
-------
---------
At 31 August 2024
73,899
14,203
81,041
169,143
---------
---------
-------
-------
---------
Carrying amount
At 31 August 2024
580,198
99,314
62,389
11,456
753,357
---------
---------
-------
-------
---------
At 31 August 2023
99,839
20,622
6,374
126,835
---------
---------
-------
-------
---------
7. Debtors
2024
2023
£
£
Trade debtors
21,450
Other debtors
43,584
21,286
-------
-------
43,584
42,736
-------
-------
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Trade creditors
24,086
22,024
Social security and other taxes
59,979
54,106
Other creditors
592,166
59,631
---------
---------
676,231
135,761
---------
---------