COMPANY REGISTRATION NUMBER:
13366854
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St Petroc's School Limited |
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Filleted Unaudited Financial Statements |
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St Petroc's School Limited |
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Statement of Financial Position |
|
31 August 2024
Fixed assets
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Tangible assets |
5 |
|
290 |
363 |
|
|
|
|
|
Current assets
|
Debtors |
6 |
52,758 |
|
58,110 |
|
Cash at bank and in hand |
34,010 |
|
6,279 |
|
-------- |
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-------- |
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86,768 |
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64,389 |
|
|
|
|
|
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Creditors: amounts falling due within one year |
7 |
109,372 |
|
59,243 |
|
--------- |
|
-------- |
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Net current (liabilities)/assets |
|
(
22,604) |
5,146 |
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|
-------- |
------- |
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Total assets less current liabilities |
|
(
22,314) |
5,509 |
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-------- |
------- |
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Net (liabilities)/assets |
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(
22,314) |
5,509 |
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|
-------- |
------- |
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|
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Capital and reserves
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Called up share capital |
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1 |
1 |
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Profit and loss account |
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(
22,315) |
5,508 |
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-------- |
------- |
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Shareholders (deficit)/funds |
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(
22,314) |
5,509 |
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|
-------- |
------- |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
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St Petroc's School Limited |
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Statement of Financial Position (continued) |
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31 August 2024
These financial statements were approved by the
board of directors
and authorised for issue on
29 May 2025
, and are signed on behalf of the board by:
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Mr T Anwar-Hameed |
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Director |
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Company registration number:
13366854
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St Petroc's School Limited |
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Notes to the Financial Statements |
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Year ended 31 August 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern The company made a loss for the year and had a net deficiency of assets as at the balance sheet date. The company relies on support from group companies and related parties therefore the accounts have been prepared on a going concern basis which is considered appropriate.
Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered.
Taxation The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Fixtures and fittings |
- |
20% reducing balance |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
12
(2023:
13
).
5.
Tangible assets
|
Fixtures and fittings |
|
£ |
|
Cost |
|
|
At 1 September 2023 and 31 August 2024 |
454 |
|
---- |
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Depreciation |
|
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At 1 September 2023 |
91 |
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Charge for the year |
73 |
|
---- |
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At 31 August 2024 |
164 |
|
---- |
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Carrying amount |
|
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At 31 August 2024 |
290 |
|
---- |
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At 31 August 2023 |
363 |
|
---- |
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6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
11,826 |
16,389 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
33,657 |
28,657 |
|
Other debtors |
7,275 |
13,064 |
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-------- |
-------- |
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52,758 |
58,110 |
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-------- |
-------- |
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7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
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Trade creditors |
7,893 |
3,067 |
|
Social security and other taxes |
3,545 |
2,176 |
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Other creditors |
97,934 |
54,000 |
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--------- |
-------- |
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109,372 |
59,243 |
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--------- |
-------- |
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8.
Controlling party
The parent company, Oxford and Cambridge Education Group (UK) Ltd (09237934) owns 100% of the shareholding in
St Petroc's School Limited
.