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REGISTERED NUMBER: 04469699 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Schools In Limited

Schools In Limited (Registered number: 04469699)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Schools In Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: G Greinig
Mrs S J Greinig
Miss H Greinig
Miss F Greinig



SECRETARY: Miss H Greinig



REGISTERED OFFICE: Suite B
Blackdown House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX



REGISTERED NUMBER: 04469699 (England and Wales)



SOLICITORS: Hooper & Wollen
Carlton House
30 The Terrace
Torquay
TQ1 1BS

Schools In Limited (Registered number: 04469699)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 672,481 689,104
672,481 689,104

CURRENT ASSETS
Stocks 750 750
Debtors 6 230,588 372,412
Cash at bank and in hand 31,864 8,314
263,202 381,476
CREDITORS
Amounts falling due within one year 7 247,729 153,538
NET CURRENT ASSETS 15,473 227,938
TOTAL ASSETS LESS CURRENT
LIABILITIES

687,954

917,042

CREDITORS
Amounts falling due after more than one
year

8

(36,036

)

(43,285

)

PROVISIONS FOR LIABILITIES 9 (21,727 ) (20,433 )
NET ASSETS 630,191 853,324

CAPITAL AND RESERVES
Called up share capital 10 10,000 10,000
Retained earnings 620,191 843,324
SHAREHOLDERS' FUNDS 630,191 853,324

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 May 2025 and were signed on its behalf by:



Mrs S J Greinig - Director


Schools In Limited (Registered number: 04469699)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Schools In Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
The turnover shown in the profit and loss account represents amounts invoiced during the year.

Goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its estimated useful life. Goodwill is reviewed for impairment at the end of the first full financial year following each acquisition and subsequently as and when necessary if circumstances emerge that indicate that the carrying value may not be recoverable. Goodwill has no residual value. At the transition date to FRS 102 there were 7 years of amortisation remaining. Goodwill was originally amortised over 20 years.

Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill - 5% Straight line

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life of that asset as follows:

Freehold Property - 2% on cost
Fixtures and fittings - 10% on cost
Motor Vehicles - 20% on cost
Computer Equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Schools In Limited (Registered number: 04469699)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
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
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2023 - 43 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 400,000
AMORTISATION
At 1 September 2023
and 31 August 2024 400,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 1,087,174 45,168 200,809 123,093 1,456,244
Additions - 3,120 8,624 5,037 16,781
At 31 August 2024 1,087,174 48,288 209,433 128,130 1,473,025
DEPRECIATION
At 1 September 2023 451,503 9,837 188,635 117,165 767,140
Charge for year 21,745 4,621 2,709 4,329 33,404
At 31 August 2024 473,248 14,458 191,344 121,494 800,544
NET BOOK VALUE
At 31 August 2024 613,926 33,830 18,089 6,636 672,481
At 31 August 2023 635,671 35,331 12,174 5,928 689,104

Schools In Limited (Registered number: 04469699)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 99,474 96,581
Other debtors 100,184 250,009
Prepayments and accrued income 30,930 25,822
230,588 372,412

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,648 10,648
Trade creditors 23,086 33,901
Social security and other taxes 10,462 10,334
Other creditors 172,715 78,666
Directors' current accounts - 9,825
Accrued expenses 30,818 10,164
247,729 153,538

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,648 10,648
Bank loans - 2-5 years 988 10,887
Pupil deposits 24,400 21,750
36,036 43,285

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 21,727 20,433

Deferred
tax
£   
Balance at 1 September 2023 20,433
Movement in the year 1,294
Balance at 31 August 2024 21,727

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £1 10,000 10,000

11. PENSION COMMITMENTS

The company made defined pension contributions in respect of its employees amounting to £79,300 (2023 - £66,280) with £1,200 for Pension Administration during the year. Contributions unpaid at the year end were £9,938 (2023: £8,274).

Schools In Limited (Registered number: 04469699)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

12. RELATED PARTY DISCLOSURES

Dividends of £72,000 (2023: £65,333) were paid to Mr G and Mrs S J Greinig.

There is an interest free loan of £100,000 (2023 - £250,000) due from the company Montpellier House which is owned by the directors.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr G and Mrs S J Greinig.