Silverfin false false 31/08/2024 01/09/2023 31/08/2024 D Drinkwater 29/11/2011 N Jones 29/11/2011 24 May 2025 The principal activity of the Company is the provision of specialist education for children between the age of 5-16. 07863676 2024-08-31 07863676 bus:Director1 2024-08-31 07863676 bus:Director2 2024-08-31 07863676 2023-08-31 07863676 core:CurrentFinancialInstruments 2024-08-31 07863676 core:CurrentFinancialInstruments 2023-08-31 07863676 core:Non-currentFinancialInstruments 2024-08-31 07863676 core:Non-currentFinancialInstruments 2023-08-31 07863676 core:ShareCapital 2024-08-31 07863676 core:ShareCapital 2023-08-31 07863676 core:RetainedEarningsAccumulatedLosses 2024-08-31 07863676 core:RetainedEarningsAccumulatedLosses 2023-08-31 07863676 core:FurnitureFittings 2023-08-31 07863676 core:OtherPropertyPlantEquipment 2023-08-31 07863676 core:FurnitureFittings 2024-08-31 07863676 core:OtherPropertyPlantEquipment 2024-08-31 07863676 core:CurrentFinancialInstruments 7 2024-08-31 07863676 core:CurrentFinancialInstruments 7 2023-08-31 07863676 2022-08-31 07863676 core:TaxLossesCarry-forwardsDeferredTax 2024-08-31 07863676 core:TaxLossesCarry-forwardsDeferredTax 2023-08-31 07863676 bus:OrdinaryShareClass1 2024-08-31 07863676 core:WithinOneYear 2024-08-31 07863676 core:WithinOneYear 2023-08-31 07863676 core:BetweenOneFiveYears 2024-08-31 07863676 core:BetweenOneFiveYears 2023-08-31 07863676 2023-09-01 2024-08-31 07863676 bus:FilletedAccounts 2023-09-01 2024-08-31 07863676 bus:SmallEntities 2023-09-01 2024-08-31 07863676 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 07863676 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 07863676 bus:Director1 2023-09-01 2024-08-31 07863676 bus:Director2 2023-09-01 2024-08-31 07863676 core:FurnitureFittings core:TopRangeValue 2023-09-01 2024-08-31 07863676 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-09-01 2024-08-31 07863676 2022-09-01 2023-08-31 07863676 core:FurnitureFittings 2023-09-01 2024-08-31 07863676 core:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 07863676 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 07863676 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07863676 (England and Wales)

LIMESPRING SCHOOL LIMITED

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

LIMESPRING SCHOOL LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

LIMESPRING SCHOOL LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 August 2024
LIMESPRING SCHOOL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,063 1,090
1,063 1,090
Current assets
Debtors
- due within one year 4 15,365 10,938
- due after more than one year 4 0 9,000
Cash at bank and in hand 10,643 1,314
26,008 21,252
Creditors: amounts falling due within one year 5 ( 72,844) ( 74,620)
Net current liabilities (46,836) (53,368)
Total assets less current liabilities (45,773) (52,278)
Net liabilities ( 45,773) ( 52,278)
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account ( 45,775 ) ( 52,280 )
Total shareholders' deficit ( 45,773) ( 52,278)

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 Limespring School Limited (registered number: 07863676) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

D Drinkwater
Director

24 May 2025

LIMESPRING SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
LIMESPRING SCHOOL 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

Limespring School 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 35 Ballards Lane, London, N3 1XW, United Kingdom.

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 £.

Going concern

The financial statements have been prepared on a going concern basis which assumes that the Company will continue in operational existence for the foreseeable future and will be able to meet its debts as they fall due.

The Company made a profit for the year, and had net current liabilities of £46,836 and net liabilities of £45,773 at the Statement of Financial Position date.

The directors confirm that the Company has sufficient access to working capital to support the business for the foreseeable future, and that the director loans of £65,127 will not be recalled until such time that the company can afford to do so.

Turnover

Turnover comprises revenue recognised by the Company in respect of services provided during the period, exclusive of Value Added Tax.

Revenue is recognised in the period to which it relates.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

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 Statement of Financial Position 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 5 years straight line
Other property, plant and equipment 5 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.

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.

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 creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Financial assets
Basic financial assets, including other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 4 4

3. Tangible assets

Fixtures and fittings Other property, plant
and equipment
Total
£ £ £
Cost
At 01 September 2023 17,478 9,000 26,478
Additions 239 0 239
At 31 August 2024 17,717 9,000 26,717
Accumulated depreciation
At 01 September 2023 16,388 9,000 25,388
Charge for the financial year 266 0 266
At 31 August 2024 16,654 9,000 25,654
Net book value
At 31 August 2024 1,063 0 1,063
At 31 August 2023 1,090 0 1,090

4. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Prepayments and accrued income 2,030 1,285
Deferred tax asset 4,335 8,260
Deposits 9,000 0
Other debtors 0 1,393
15,365 10,938
Debtors: amounts falling due after more than one year
Other debtors 0 9,000

5. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 5,366 7,250
Other taxation and social security 98 0
Other creditors 67,380 67,370
72,844 74,620

6. Deferred tax

2024 2023
£ £
At the beginning of financial year 8,260 0
(Charged)/credited to the Statement of Income and Retained Earnings ( 3,925) 8,260
At the end of financial year 4,335 8,260

The deferred taxation balance is made up as follows:

2024 2023
£ £
Tax losses carry forward 4,335 8,260

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 0 44,100
between one and five years 0 3,675
0 47,775

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.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 108 110

9. Related party transactions

Included within other creditors is a balance of £65,127 (2023: £64,840) owed to the directors of the Company. These balances are unsecured and interest free, with no fixed repayment terms.