Silverfin false false 31/08/2024 01/09/2023 31/08/2024 L C A Waring 15/05/2001 M H A Waring 01/03/2024 Marcus H A Waring 29 May 2025 The principal activity of the company is providing primary education. 04216973 2024-08-31 04216973 bus:Director1 2024-08-31 04216973 bus:Director2 2024-08-31 04216973 2023-08-31 04216973 core:CurrentFinancialInstruments 2024-08-31 04216973 core:CurrentFinancialInstruments 2023-08-31 04216973 core:Non-currentFinancialInstruments 2024-08-31 04216973 core:Non-currentFinancialInstruments 2023-08-31 04216973 core:ShareCapital 2024-08-31 04216973 core:ShareCapital 2023-08-31 04216973 core:RetainedEarningsAccumulatedLosses 2024-08-31 04216973 core:RetainedEarningsAccumulatedLosses 2023-08-31 04216973 core:PlantMachinery 2023-08-31 04216973 core:ComputerEquipment 2023-08-31 04216973 core:PlantMachinery 2024-08-31 04216973 core:ComputerEquipment 2024-08-31 04216973 bus:OrdinaryShareClass1 2024-08-31 04216973 2023-09-01 2024-08-31 04216973 bus:FilletedAccounts 2023-09-01 2024-08-31 04216973 bus:SmallEntities 2023-09-01 2024-08-31 04216973 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 04216973 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04216973 bus:Director1 2023-09-01 2024-08-31 04216973 bus:Director2 2023-09-01 2024-08-31 04216973 bus:Director3 2023-09-01 2024-08-31 04216973 core:PlantMachinery 2023-09-01 2024-08-31 04216973 core:ComputerEquipment core:TopRangeValue 2023-09-01 2024-08-31 04216973 2022-09-01 2023-08-31 04216973 core:ComputerEquipment 2023-09-01 2024-08-31 04216973 core:PlantMachinery 1 2023-09-01 2024-08-31 04216973 core:ComputerEquipment 1 2023-09-01 2024-08-31 04216973 1 2023-09-01 2024-08-31 04216973 core:Non-currentFinancialInstruments 2023-09-01 2024-08-31 04216973 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 04216973 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 04216973 1 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04216973 (England and Wales)

ERIDGE HOUSE LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

ERIDGE HOUSE LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

ERIDGE HOUSE LIMITED

BALANCE SHEET

As at 31 August 2024
ERIDGE HOUSE LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 399,808 260,930
399,808 260,930
Current assets
Debtors 4 1,647,857 1,791,126
Cash at bank and in hand 835,075 425,815
2,482,932 2,216,941
Creditors: amounts falling due within one year 5 ( 2,005,539) ( 1,743,480)
Net current assets 477,393 473,461
Total assets less current liabilities 877,201 734,391
Creditors: amounts falling due after more than one year 6 ( 501,712) ( 541,831)
Provision for liabilities ( 58,133) ( 39,371)
Net assets 317,356 153,189
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 317,256 153,089
Total shareholder's funds 317,356 153,189

For the financial 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 financial statements of Eridge House Limited (registered number: 04216973) were approved and authorised for issue by the Board of Directors on 29 May 2025. They were signed on its behalf by:

Marcus H A Waring
Director
ERIDGE HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
ERIDGE HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Eridge House Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales.

The address of the Company's registered office is:
Hitchcock House Hilltop Park
Devizes Road
Salisbury
SP3 4UF
United Kingdom

The principle place of business is:
1 Fulham Park Road
Fulham
London
SW6 4LJ

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises revenue recognised by the Company in respect of tuition services supplied, exclusive of Value Added Tax. Fees are recognised as they fall due and appropriate adjustments are made for any fees in advance.

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line and reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Borrowing costs

Financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

All the borrowing costs are recognised in the statement of comprehensive income in the year in which they are incurred.

Leases

The Company as lessee
Rentals paid under operating leases are charged to the statement of comprehensive income on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to standard on 01 September 2018 to continue to be charged over the period to the first market rent review rather than term of the lease.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised costs using the effective interest method, less any impairment.

Trade and other creditors

Short term creditors are measured at the transaction price.

Financial instruments

Classification

The Company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans and other third parties; and
• Loan to related parties.

All financial instruments are classified as basic.

Recognition and measurement

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially at the present value of future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial instruments and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Defined benefit pension obligation

The Company contributes into the Aviva APTIS pension scheme for its employees, but discloses this as a defined contribution plan in these accounts. A defined contribution plan is a pension plan under which the Company pays fixed contributions into separate entity.

The contributions are recognised as an expense in the statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 29 31

3. Tangible assets

Plant and machinery Computer equipment Total
£ £ £
Cost
At 01 September 2023 648,654 120,165 768,819
Additions 202,241 15,084 217,325
VAT Adjustment 0 0 0
At 31 August 2024 850,895 135,249 986,144
Accumulated depreciation
At 01 September 2023 393,483 114,406 507,889
Charge for the financial year 69,985 8,462 78,447
VAT Adjustment 0 0 0
At 31 August 2024 463,468 122,868 586,336
Net book value
At 31 August 2024 387,427 12,381 399,808
At 31 August 2023 255,171 5,759 260,930

4. Debtors

2024 2023
£ £
Trade debtors 488,676 463,232
Amounts owed by Group undertakings (note 9) 1,078,440 1,259,360
Corporation tax 24,700 0
Other debtors 56,041 68,534
1,647,857 1,791,126

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 0 220,689
Trade creditors 144,223 55,985
Taxation and social security 21,115 43,943
Other creditors 1,840,201 1,422,863
2,005,539 1,743,480

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 438,595 450,662
Other creditors 63,117 91,169
501,712 541,831

The bank loans are secured by the assets of the company.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounts to £76,017 (2023: £79,594).

2024 2023
£ £
Unpaid contributions due to the fund (inc. in creditors) 12,151 11,086

The Company contributes into the Aviva APTIS scheme, a scheme which receives contributions from multiple sources. The Company has disclosed this as a defined contribution scheme as it is not possible to split out the information relating to Eridge House Limited.

The Company has in place a pension deficit agreement in order to mitigate the companies obligation to cover the pension liability.

9. Related party transactions

The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.

10. Ultimate controlling party

Parent Company:

Eridge House (Holdings) Limited
Incorporated in England and Wales

The ultimate controlling party is L C A Waring.