Company Registration No. 08492483 (England and Wales)
Southway at the Rodillian Academy Limited
Financial statements
for the year ended 31 August 2024
Pages for filing with the registrar
Southway at the Rodillian Academy Limited
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 8
Southway at the Rodillian Academy Limited
Balance sheet
As at 31 August 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
62,457
99,322
Current assets
Debtors
5
49,602
203,744
Cash at bank and in hand
677,360
959,515
726,962
1,163,259
Creditors: amounts falling due within one year
6
(107,711)
(99,257)
Net current assets
619,251
1,064,002
Total assets less current liabilities
681,708
1,163,324
Net assets excluding pension liability
681,708
1,163,324
Defined benefit pension liability
-
0
-
0
Net assets
681,708
1,163,324
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
681,707
1,163,323
Total equity
681,708
1,163,324

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered 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 28 May 2025 and are signed on its behalf by:
Neville Lawson
Director
Company Registration No. 08492483
Southway at the Rodillian Academy Limited
Statement of changes in equity
For the year ended 31 August 2024
2
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 September 2022
1
865,732
865,733
Year ended 31 August 2023:
Profit
-
43,591
43,591
Other comprehensive income:
Actuarial gains on defined benefit plans
-
254,000
254,000
Total comprehensive income
-
297,591
297,591
Balance at 31 August 2023
1
1,163,323
1,163,324
Year ended 31 August 2024:
Loss
-
(263,616)
(263,616)
Other comprehensive income:
Actuarial gains on defined benefit plans
-
32,000
32,000
Total comprehensive income
-
(231,616)
(231,616)
Distributions to parent charity under gift aid
-
(250,000)
(250,000)
Balance at 31 August 2024
1
681,707
681,708
Southway at the Rodillian Academy Limited
Notes to the financial statements
For the year ended 31 August 2024
3
1
Accounting policies
Company information

Southway at the Rodillian Academy Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Featherstone Academy, Pontefract Road, Featherstone, Pontefract, West Yorkshire, WF7 5AJ.

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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. The principal accounting policies adopted are set out below.

1.2
Going concern

At 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. true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

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:

Plant and machinery
Not depreciated
Fixtures, fittings & equipment
5 years straight line
Computer equipment
2 - 5 years straight line
Motor vehicles
5 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

Southway at the Rodillian Academy Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
1
Accounting policies (continued)
4
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.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, 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.

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.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

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

Southway at the Rodillian Academy Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
1
Accounting policies (continued)
5
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.

1.10
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.

1.11
Retirement benefits

Retirement benefits to employees of the company are provided by the Teachers’ Pension Scheme (‘TPS’) and the Local Government Pension Scheme (‘LGPS’). These are defined benefit schemes.

 

The TPS is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees’ working lives with the company in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quadrennial valuations using a prospective unit credit method. TPS is an unfunded multi-employer scheme with no underlying assets to assign between employees. As stated in note 8, the TPS is a multi-employer scheme and there is insufficient information available to use defined benefit accounting. The TPS is therefore treated as a defined contribution scheme for accounting purposes and the contributions recognised in the period to which they relate.

The LGPS is a funded multi-employer scheme and the assets are held separately from those of the company in separate Trustee administered funds. The cost of providing benefits under defined benefit plans is determined separately for each plan using the projected unit credit method, and is based on actuarial advice.

 

The change in the net defined benefit liability arising from employee service during the year is recognised as an employee cost. The costs are recognised as an expense in measuring profit or loss in the period.

The net interest element is determined by multiplying the net defined benefit liability by the discount rate, taking into account any changes in the net defined benefit liability during the period as a result of contribution and benefit payments. The net interest is recognised in profit or loss as other finance revenue or cost.

 

Remeasurement changes comprise actuarial gains and losses, the effect of the asset ceiling and the return on the net defined benefit liability excluding amounts included in net interest. These are recognised immediately in other comprehensive income in the period in which they occur and are not reclassified to profit and loss in subsequent periods.

The net defined benefit pension asset or liability in the balance sheet comprises the total for each plan of the present value of the defined benefit obligation (using a discount rate based on high quality corporate bonds), less the fair value of plan assets out of which the obligations are to be settled directly. Fair value is based on market price information, and in the case of quoted securities is the published bid price. The value of a net pension benefit asset is limited to the amount that may be recovered either through reduced contributions or agreed refunds from the scheme.

Southway at the Rodillian Academy Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
1
Accounting policies (continued)
6
1.12
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
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

The key accounting estimates relate to the depreciation of tangible fixed assets and the valuation and recognition of the defined benefit pension scheme.

3
Employees

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

2024
2023
Number
Number
Total
36
35
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 and 31 August 2024
247,284
Depreciation and impairment
At 1 September 2023
147,962
Depreciation charged in the year
36,865
At 31 August 2024
184,827
Carrying amount
At 31 August 2024
62,457
At 31 August 2023
99,322
Southway at the Rodillian Academy Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
7
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
9,455
188,400
Other debtors
40,147
15,344
49,602
203,744
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
18,223
6,235
Corporation tax
2,073
148
Other taxation and social security
39,206
29,719
Other creditors
48,209
63,155
107,711
99,257
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Sally Appleton
Statutory Auditors:
Saffery LLP
Date of audit report:
29 May 2025
8
Operating lease commitments
Lessee

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

2024
2023
£
£
2,890
4,334
Southway at the Rodillian Academy Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
8
9
Related party transaction and controlling related party

The company’s immediate and ultimate controlling party is considered to be The Resilience Multi Academy Trust, by virtue of the ownership of its share capital.  The company has taken the exemption from disclosing transactions and balances with its parent, as the company’s results are included in the consolidated accounts of The Resilience Multi Academy Trust. The consolidated accounts can be obtained from the registered office of the company, which is also the Trust's registered address.

2024-08-312023-09-01false29 May 2025CCH SoftwareCCH Accounts Production 2024.210No description of principal activityThis audit opinion is unqualifiedNeville LawsonJanice BennettCaroline ArtisDesmond MannionJohn Bakerfalsefalse084924832023-09-012024-08-31084924832024-08-31084924832023-08-3108492483core:OtherPropertyPlantEquipment2024-08-3108492483core:OtherPropertyPlantEquipment2023-08-3108492483core:CurrentFinancialInstrumentscore:WithinOneYear2024-08-3108492483core:CurrentFinancialInstrumentscore:WithinOneYear2023-08-3108492483core:CurrentFinancialInstruments2024-08-3108492483core:CurrentFinancialInstruments2023-08-3108492483core:ShareCapital2024-08-3108492483core:ShareCapital2023-08-3108492483core:RetainedEarningsAccumulatedLosses2024-08-3108492483core:RetainedEarningsAccumulatedLosses2023-08-3108492483core:ShareCapital2022-08-3108492483core:RetainedEarningsAccumulatedLosses2022-08-3108492483bus:Director12023-09-012024-08-3108492483core:RetainedEarningsAccumulatedLosses2022-09-012023-08-31084924832022-09-012023-08-3108492483core:RetainedEarningsAccumulatedLosses2023-09-012024-08-3108492483core:PlantMachinery2023-09-012024-08-3108492483core:FurnitureFittings2023-09-012024-08-3108492483core:ComputerEquipment2023-09-012024-08-3108492483core:MotorVehicles2023-09-012024-08-3108492483core:OtherPropertyPlantEquipment2023-08-3108492483core:OtherPropertyPlantEquipment2023-09-012024-08-3108492483core:WithinOneYear2024-08-3108492483core:WithinOneYear2023-08-3108492483bus:PrivateLimitedCompanyLtd2023-09-012024-08-3108492483bus:SmallCompaniesRegimeForAccounts2023-09-012024-08-3108492483bus:FRS1022023-09-012024-08-3108492483bus:Audited2023-09-012024-08-3108492483bus:Director22023-09-012024-08-3108492483bus:Director32023-09-012024-08-3108492483bus:Director42023-09-012024-08-3108492483bus:Director52023-09-012024-08-3108492483bus:FullAccounts2023-09-012024-08-31xbrli:purexbrli:sharesiso4217:GBP