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REGISTERED NUMBER: 02173466 (England and Wales)




















STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

APPLEFORD LIMITED

APPLEFORD LIMITED (REGISTERED NUMBER: 02173466)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


APPLEFORD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Dr P Gardner
D A King



SECRETARY: D A King



REGISTERED OFFICE: Appleford School
Elston Lane
Shrewton
Salisbury
Wiltshire



REGISTERED NUMBER: 02173466 (England and Wales)



AUDITORS: PG Owen Limited
Chartered Accountants and
Statutory Auditors
124 High Street
Midsomer Norton
Bath
Avon
BA3 2DA



BANKERS: Natwest Commercial Banking
1st Floor Stella Building
Windmill Hill Business Park
Whitehill Way
Swindon
SN5 6NX

APPLEFORD LIMITED (REGISTERED NUMBER: 02173466)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024

The directors present their strategic report for the year ended 31 August 2024.

REVIEW OF BUSINESS
The School has had a another successful year with numbers remaining very similar to last year.

During the summer holidays, we received our GCSE results and, as ever, these were impressive. By way of a comparison to the maintained sector, our result of 86% pass rate in English compares very favorably with 63% in the non-specialist, mainstream sector (it is worth noting that every child must sit English GCSE and so this is our best comparator for pupil progress). Such attainment places Appleford in a strong position to deal with the projected tightening of Local Authority purse strings as we can, and always have, been able to evidence a very high 'value added' level of outcome compared to the prospects of EHCP-holding pupils in the state sector.

During the year and post year end, we identified there was a clear changing pupil demographic with boarding post-Covid now tailing off considerably and we are fast becoming a school dominated by day pupils. This in turn presents challenges and also opportunities to re-structure ourselves both in terms of staff re-organisation and also resource management. Both these areas are being actively reviewed and addressed post year end to identify our response to these ever changing times whilst maintaining our goal of providing high-quality education and ensuring our students have a safe and supporting learning environment.

Towards the end of November 2024 we welcomed OFSTED for their annual inspection of boarding and pastoral care and I am pleased to report the school achieved a grade of Good across the board.

The care home side of the business has continued and almost completed it's refurbishment projects with many of the rooms and general facilities being upgraded and decorated providing a more refreshing experience for residents and visitors alike.

There continues to be a focus on providing a wide range of activities for all the residents ranging from the normal weekly activities such as swimming,, biking, walks and carriage driving. Nearly all our residents have been to the "wake the tiger" adventure in Bristol which was a brilliant experience for them.

As with many businesses working within the care sector, recruitment continues to be a a challenge as we have seen a significant drop in labour supply not just in our geographic area but also nationwide. This together with large increases in living wage rates has put inflationary pressures on the cost of providing quality care.
With the back-drop of tightening Local Authority budgets together with a significant increase in employers NIC now being levied from the 2025/26 tax year means that our base costs will further significantly increase and ultimately this will need to be passed onto the Local authorities to ensure we continue to provide the quality of care we constantly strive for.

Overall the residents continue to have a fulfilled life, with meaningful activities and this is reflected in both their health and wellbeing.

To conclude, once again a challenging but ultimately rewarding year demonstrating the strong leadership and management the school and the care home has at its disposal to ensure high quality outcomes for all stakeholders under sometimes difficult circumstances.


APPLEFORD LIMITED (REGISTERED NUMBER: 02173466)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024

PRINCIPAL RISKS AND UNCERTAINTIES
All areas of the school and the care home are directly overseen by a member of the Senior Leadership Team. The Senior Management Team meet monthly and the Advisory Board continue to meet three times a year, providing invaluable external perspectives on the strategic direction of the school, both in the short and medium term.

Principal risks and uncertainties are well managed by the comprehensive and robust systems, procedures and policies in place for both business sectors.

ON BEHALF OF THE BOARD:





Dr P Gardner - Director


28 May 2025

APPLEFORD LIMITED (REGISTERED NUMBER: 02173466)

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.

DIVIDENDS
No dividends will be distributed for the year ended 31 August 2024.

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

Dr P Gardner
D A King

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, PG Owen Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Dr P Gardner - Director


28 May 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
APPLEFORD LIMITED

Opinion
We have audited the financial statements of Appleford Limited (the 'company') for the year ended 31 August 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 profit 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 Strategic Report and 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 Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
APPLEFORD LIMITED


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 Strategic Report or 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.

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
APPLEFORD LIMITED


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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows;
- the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other
management, and from commercial knowledge and experience of the supply of services to the education and
care sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and
data protection,anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of
management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to
instances of non-compliance throughout the audit

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of
actual, suspected and alleged fraud;
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations;and
- understanding the design of the company's remuneration policies.

To address the risk of fraud through management bias and override of controls, we;
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of
potential bias; and
- investigated the the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.Auditing standards also limit the the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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
APPLEFORD LIMITED


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.




R N Browning BA(Hons) FCCA FCA FAIA BFP (Senior Statutory Auditor)
for and on behalf of PG Owen Limited
Chartered Accountants and
Statutory Auditors
124 High Street
Midsomer Norton
Bath
Avon
BA3 2DA

28 May 2025

APPLEFORD LIMITED (REGISTERED NUMBER: 02173466)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Notes £    £   

TURNOVER 7,967,389 7,088,583

Cost of sales 5,784,356 5,718,213
GROSS PROFIT 2,183,033 1,370,370

Administrative expenses 1,081,350 987,371
OPERATING PROFIT 4 1,101,683 382,999


Interest payable and similar expenses 5 58,861 43,302
PROFIT BEFORE TAXATION 1,042,822 339,697

Tax on profit 6 299,927 92,305
PROFIT FOR THE FINANCIAL YEAR 742,895 247,392

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

742,895

247,392

APPLEFORD LIMITED (REGISTERED NUMBER: 02173466)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 7 7,790,356 7,669,299

CURRENT ASSETS
Stocks 8 21,549 28,949
Debtors 9 805,903 460,512
Cash at bank and in hand 2,508,163 2,127,622
3,335,615 2,617,083
CREDITORS
Amounts falling due within one year 10 1,667,307 1,520,756
NET CURRENT ASSETS 1,668,308 1,096,327
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,458,664

8,765,626

CREDITORS
Amounts falling due after more than one
year

11

(707,427

)

(780,681

)

PROVISIONS FOR LIABILITIES 14 (99,601 ) (76,204 )
NET ASSETS 8,651,636 7,908,741

CAPITAL AND RESERVES
Called up share capital 15 80,000 80,000
Retained earnings 16 8,571,636 7,828,741
SHAREHOLDERS' FUNDS 18 8,651,636 7,908,741

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2025 and were signed on its behalf by:





Dr P Gardner - Director


APPLEFORD LIMITED (REGISTERED NUMBER: 02173466)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 September 2022 80,000 7,581,349 7,661,349

Changes in equity
Total comprehensive income - 247,392 247,392
Balance at 31 August 2023 80,000 7,828,741 7,908,741

Changes in equity
Total comprehensive income - 742,895 742,895
Balance at 31 August 2024 80,000 8,571,636 8,651,636

APPLEFORD LIMITED (REGISTERED NUMBER: 02173466)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 936,764 835,876
Interest paid (58,861 ) (43,302 )
Tax paid (98,436 ) (144,688 )
Net cash from operating activities 779,467 647,886

Cash flows from investing activities
Purchase of tangible fixed assets (303,996 ) (376,181 )
Sale of tangible fixed assets 5,559 3,042
Net cash from investing activities (298,437 ) (373,139 )

Cash flows from financing activities
Loan repayments in year (80,489 ) (87,726 )
Amount withdrawn by directors (20,000 ) (49,250 )
Net cash from financing activities (100,489 ) (136,976 )

Increase in cash and cash equivalents 380,541 137,771
Cash and cash equivalents at beginning of
year

2

2,127,622

1,989,851

Cash and cash equivalents at end of year 2 2,508,163 2,127,622

APPLEFORD LIMITED (REGISTERED NUMBER: 02173466)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 1,042,822 339,697
Depreciation charges 181,197 182,019
Profit on disposal of fixed assets (3,817 ) (498 )
Finance costs 58,861 43,302
1,279,063 564,520
Decrease/(increase) in stocks 7,400 (16,199 )
(Increase)/decrease in trade and other debtors (345,391 ) 136,961
(Decrease)/increase in trade and other creditors (4,308 ) 150,594
Cash generated from operations 936,764 835,876

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 August 2024
31.8.24 1.9.23
£    £   
Cash and cash equivalents 2,508,163 2,127,622
Year ended 31 August 2023
31.8.23 1.9.22
£    £   
Cash and cash equivalents 2,127,622 1,989,851


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.23 Cash flow At 31.8.24
£    £    £   
Net cash
Cash at bank and in hand 2,127,622 380,541 2,508,163
2,127,622 380,541 2,508,163
Debt
Debts falling due within 1 year (87,725 ) 7,235 (80,490 )
Debts falling due after 1 year (780,681 ) 73,254 (707,427 )
(868,406 ) 80,489 (787,917 )
Total 1,259,216 461,030 1,720,246

APPLEFORD LIMITED (REGISTERED NUMBER: 02173466)

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

1. STATUTORY INFORMATION

Appleford 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents invoiced sales of the provision of specialist education and care facilities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Computer equipment - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Books and equipment - 20% on reducing balance

It is the policy of the company to maintain its buildings in such a condition that the value of the buildings is not impaired by the passage of time. Such expenditure is charged to the profit and loss account in the year in which it is incurred. As a consequence, the depreciation rate for the buildings (excluding the related land value) has been calculated on a 2% straight-line basis as stated above.

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 Statement of Comprehensive Income, 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.

APPLEFORD LIMITED (REGISTERED NUMBER: 02173466)

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

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 4,030,263 3,756,613
Social security costs 353,640 315,566
Other pension costs 205,286 200,114
4,589,189 4,272,293

The average number of employees during the year was as follows:
2024 2023

Appleford School teachers 29 29
Appleford School support staff 65 64
Daneswood Care Home carers 54 56
Daneswood Care Home support staff 5 6
153 155

2024 2023
£    £   
Directors' remuneration - -

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 181,197 182,019
Profit on disposal of fixed assets (3,817 ) (498 )
Audit fees 6,500 6,000

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 58,861 43,302

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 281,009 102,915
Over provision - prior year (4,479 ) -
Total current tax 276,530 102,915

Deferred tax 23,397 (10,610 )
Tax on profit 299,927 92,305

APPLEFORD LIMITED (REGISTERED NUMBER: 02173466)

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

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,042,822 339,697
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

260,706

64,542

Effects of:
Depreciation in excess of capital allowances 20,303 22,387
Adjustments to tax charge in respect of previous periods (4,479 ) -
Marginal relief - 15,986

Deferred Tax movement 23,397 (10,610 )
Total tax charge 299,927 92,305

7. TANGIBLE FIXED ASSETS
Fixtures
Freehold Computer and
property equipment fittings
£    £    £   
COST
At 1 September 2023 7,548,574 1,051,366 982,601
Additions 213,013 55,707 28,982
Disposals - - -
At 31 August 2024 7,761,587 1,107,073 1,011,583
DEPRECIATION
At 1 September 2023 318,467 881,591 746,839
Charge for year 76,053 55,665 40,214
Eliminated on disposal - - -
At 31 August 2024 394,520 937,256 787,053
NET BOOK VALUE
At 31 August 2024 7,367,067 169,817 224,530
At 31 August 2023 7,230,107 169,775 235,762

APPLEFORD LIMITED (REGISTERED NUMBER: 02173466)

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

7. TANGIBLE FIXED ASSETS - continued

Motor Books and
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 82,950 57,474 9,722,965
Additions 6,294 - 303,996
Disposals (8,274 ) - (8,274 )
At 31 August 2024 80,970 57,474 10,018,687
DEPRECIATION
At 1 September 2023 55,025 51,744 2,053,666
Charge for year 8,119 1,146 181,197
Eliminated on disposal (6,532 ) - (6,532 )
At 31 August 2024 56,612 52,890 2,228,331
NET BOOK VALUE
At 31 August 2024 24,358 4,584 7,790,356
At 31 August 2023 27,925 5,730 7,669,299

8. STOCKS
2024 2023
£    £   
Stocks 21,549 28,949

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Debtors 745,036 361,477
Other debtors 600 600
Prepayments and accrued income 60,267 98,435
805,903 460,512

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 12) 80,490 87,725
Trade creditors 81,488 123,780
Corporation tax 281,009 102,915
Social security and other taxes 87,504 80,171
Other creditors 163,516 170,669
Directors' current accounts 791,237 811,237
Accruals & prepaid income 182,063 144,259
1,667,307 1,520,756

APPLEFORD LIMITED (REGISTERED NUMBER: 02173466)

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

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 12) 707,427 780,681

12. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 80,490 87,725

Amounts falling due between two and five years:
Bank loans - 2-5 years 707,427 780,681

The bank loan is due to mature on 21st July 2024.

13. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 787,917 868,406

The above are secured by a mortgage debenture and legal charges over the company's freehold properties, in favour of National Westminster Bank plc.

14. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred taxation 99,601 76,204

Deferred
tax
£   
Balance at 1 September 2023 76,204
Charge to Statement of Comprehensive Income during year 23,397
Balance at 31 August 2024 99,601

APPLEFORD LIMITED (REGISTERED NUMBER: 02173466)

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

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
60,000 Ordinary A £1 60,000 60,000
20,000 Ordinary B Non Voting £1 20,000 20,000
80,000 80,000

16. RESERVES
Retained
earnings
£   

At 1 September 2023 7,828,741
Profit for the year 742,895
At 31 August 2024 8,571,636

17. ULTIMATE CONTROLLING PARTY

The controlling party is Dr P Gardner.

The ultimate controlling party is Dr P Gardner.

18. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
2024 2023
£    £   
Profit for the financial year 742,895 247,392
Net addition to shareholders' funds 742,895 247,392
Opening shareholders' funds 7,908,741 7,661,349
Closing shareholders' funds 8,651,636 7,908,741