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REGISTERED NUMBER: 05770329 (England and Wales)















REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

CHURCHER'S COLLEGE ENTERPRISES LTD

CHURCHER'S COLLEGE ENTERPRISES LTD (REGISTERED NUMBER: 05770329)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 3

Income Statement 6

Balance Sheet 7

Notes to the Financial Statements 8


CHURCHER'S COLLEGE ENTERPRISES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: S J Barrett
Ms J Bloomer
N S Medley
C G Strick
S H L Williams



SECRETARY: N S Medley



REGISTERED OFFICE: Churcher's College
Ramshill
Petersfield
Hampshire
GU31 4AS



REGISTERED NUMBER: 05770329 (England and Wales)



SENIOR STATUTORY AUDITOR: Paul Wright FCA DChA



AUDITORS: Sheen Stickland
Chartered Accountants
Statutory Auditors
The Engine House
77 Station Road
Petersfield
Hampshire
GU32 3FQ

CHURCHER'S COLLEGE ENTERPRISES LTD (REGISTERED NUMBER: 05770329)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 AUGUST 2024


The directors present their report with the financial statements of the company for the year ended 31 August 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of operating and managing a swimming pool at Churcher's College, Petersfield, Hampshire.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report.

S J Barrett
Ms J Bloomer
N S Medley
C G Strick
S H L Williams

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Sheen Stickland, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





N S Medley - Director


5 December 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CHURCHER'S COLLEGE ENTERPRISES LTD


Opinion
We have audited the financial statements of Churcher's College Enterprises Ltd (the 'company') for the year ended 31 August 2024 which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of 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:
-give a true and fair view of the state of the company's affairs as at 31 August 2024 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditors' 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 directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CHURCHER'S COLLEGE ENTERPRISES LTD


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 Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page two, 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 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.

Auditors' 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 a Report of the Auditors 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:

- enquiry of management, those charged with governance and the entity' s solicitors around actual and potential litigation and claims;
-reviewing minutes of meetings of those charged with governance;
-receiving 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 evaluating the business rationale of significant transactions outside the normal course of business.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CHURCHER'S COLLEGE ENTERPRISES LTD


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 a Report of the Auditors 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.




Paul Wright FCA DChA (Senior Statutory Auditor)
for and on behalf of Sheen Stickland
Chartered Accountants
Statutory Auditors
The Engine House
77 Station Road
Petersfield
Hampshire
GU32 3FQ

5 December 2024

CHURCHER'S COLLEGE ENTERPRISES LTD (REGISTERED NUMBER: 05770329)

INCOME STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Notes £    £   

TURNOVER 305,248 271,760

Administrative expenses 335,501 441,798
OPERATING LOSS and
LOSS BEFORE TAXATION (30,253 ) (170,038 )

Tax on loss 5 - -
LOSS FOR THE FINANCIAL YEAR (30,253 ) (170,038 )

CHURCHER'S COLLEGE ENTERPRISES LTD (REGISTERED NUMBER: 05770329)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 6 1,763,608 1,670,785

CURRENT ASSETS
Debtors 7 5,131 2,857
Cash at bank 8,747 7,453
13,878 10,310
CREDITORS
Amounts falling due within one year 8 312,369 185,725
NET CURRENT LIABILITIES (298,491 ) (175,415 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,465,117

1,495,370

CAPITAL AND RESERVES
Called up share capital 2,170,801 2,170,801
Retained earnings 9 (705,684 ) (675,431 )
1,465,117 1,495,370

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 5 December 2024 and were signed on its behalf by:




C G Strick - Director



N S Medley - Director


CHURCHER'S COLLEGE ENTERPRISES LTD (REGISTERED NUMBER: 05770329)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Churcher's College Enterprises Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 5%- 10% on cost
Swimming Pool - 1% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 3 ) .

CHURCHER'S COLLEGE ENTERPRISES LTD (REGISTERED NUMBER: 05770329)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. OPERATING LOSS

The operating loss is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 55,109 46,097

5. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31 August 2024 nor for the year ended 31 August 2023.

6. TANGIBLE FIXED ASSETS
Swimming
Equipment Pool Totals
£    £    £   
COST
At 1 September 2023 44,418 2,170,801 2,215,219
Additions 147,932 - 147,932
At 31 August 2024 192,350 2,170,801 2,363,151
DEPRECIATION
At 1 September 2023 - 544,434 544,434
Charge for year 9,012 46,097 55,109
At 31 August 2024 9,012 590,531 599,543
NET BOOK VALUE
At 31 August 2024 183,338 1,580,270 1,763,608
At 31 August 2023 44,418 1,626,367 1,670,785

The swimming pool was previously subject to a revaluation as at 31 August 2017. This valuation resulted in a revalued amount of £1,600,000 being applied with no depreciation in subsequent years. It has been agreed by the directors that the basis of valuation in 2017 was not appropriate and that the asset should be depreciated. The swimming pool has been restated at historic cost in the previous year and the associated depreciation has been charged at the appropriate rate.


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 372 -
Other debtors 8 -
VAT 4,751 2,857
5,131 2,857

CHURCHER'S COLLEGE ENTERPRISES LTD (REGISTERED NUMBER: 05770329)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 26,318 25,117
Amounts owed to group undertakings 282,501 105,072
Other Creditors 50 914
Accruals and deferred income 3,500 54,622
312,369 185,725

9. RESERVES
Retained
earnings
£   

At 1 September 2023 (675,431 )
Deficit for the year (30,253 )
At 31 August 2024 (705,684 )

10. GOING CONCERN

The company incurred a loss for the year of £30,253 (2023 loss £170,038).

The company remains reliant upon the financial support of Churchers College and the Governors of the College have indicated that this support will remain in place for a period of at least twelve months from the date of approval of these financial statements.