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COMPANY REGISTRATION NUMBER: 03285877
Widford Lodge School Limited
Filleted Unaudited Financial Statements
31 August 2024
Widford Lodge School Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
6
76,069
102,984
Current assets
Debtors
7
22,699
25,403
Cash at bank and in hand
602,333
628,727
---------
---------
625,032
654,130
Creditors: amounts falling due within one year
8
326,995
342,395
---------
---------
Net current assets
298,037
311,735
---------
---------
Total assets less current liabilities
374,106
414,719
Provisions
Taxation including deferred tax
13,050
14,870
---------
---------
Net assets
361,056
399,849
---------
---------
Capital and reserves
Called up share capital
9
1,000
1,000
Profit and loss account
360,056
398,849
---------
---------
Shareholders funds
361,056
399,849
---------
---------
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 income and retained earnings 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 .
Widford Lodge School Limited
Statement of Financial Position (continued)
31 August 2024
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:
L Gear
Director
Company registration number: 03285877
Widford Lodge School 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, registration number 03285877 . The address of the registered office is Widford Lodge School, Widford, Chelmsford, Essex, CM2 9AN.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for services rendered.
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
Purchased goodwill is determined by comparing the amount paid on the acquisition of a business and the aggregate fair value of its separable net assets and is written off over its estimated economic life.
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
-
5% 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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Leasehold Property Improvements
-
20% straight line
Fixtures & Fittings
-
15% straight line
Equipment
-
15 % straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The company participates in a defined benefit pension scheme operated by the Teachers Pension Agency. Contributions are in line with Government recommendations. Although the fund is a defined benefit scheme, because Widford Lodge School Limited, as a Small Admission Body, is grouped together with other similar employers, it is not possible to separately identify its share of the underlying assets and liabilities, and it is therefore accounted for as a defined contribution scheme. In addition the company operates a defined contribution pension scheme for certain employees. The assets of the company are held separately from those of the company. The contributions payable are charged to the profit and loss account for the year.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 57 (2023: 60 ).
5. Intangible assets
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
200,000
---------
Amortisation
At 1 September 2023 and 31 August 2024
200,000
---------
Carrying amount
At 31 August 2024
---------
At 31 August 2023
---------
6. Tangible assets
Land and buildings
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 September 2023
251,239
39,996
206,737
497,972
Additions
15,715
15,715
---------
--------
---------
---------
At 31 August 2024
251,239
39,996
222,452
513,687
---------
--------
---------
---------
Depreciation
At 1 September 2023
208,064
34,521
152,403
394,988
Charge for the year
20,035
2,135
20,460
42,630
---------
--------
---------
---------
At 31 August 2024
228,099
36,656
172,863
437,618
---------
--------
---------
---------
Carrying amount
At 31 August 2024
23,140
3,340
49,589
76,069
---------
--------
---------
---------
At 31 August 2023
43,175
5,475
54,334
102,984
---------
--------
---------
---------
7. Debtors
2024
2023
£
£
Trade debtors
2,428
Other debtors
20,271
25,403
--------
--------
22,699
25,403
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
270,243
251,439
Corporation tax
8,371
33,465
Other taxes and social security
27,454
27,554
Other creditors
20,927
29,937
---------
---------
326,995
342,395
---------
---------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
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