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Registered number: 03524644









COOPERSALE HALL SCHOOL LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
COOPERSALE HALL SCHOOL LIMITED
 
 
COMPANY INFORMATION


Directors
N O Hagger 
M A Hagger 
M O Hagger 




Company secretary
M O Hagger



Registered number
03524644



Registered office
6 Albion Hill

Loughton

Essex

IG10 4RA




Independent auditors
Haslers
Chartered Accountants & Statutory Auditor

Old Station Road

Loughton

Essex

IG10 4PL





 
COOPERSALE HALL SCHOOL LIMITED
 

CONTENTS



Page
Strategic Report
 
1 - 3
Directors' Report
 
4 - 5
Directors' Responsibilities Statement
 
6
Independent Auditors' Report
 
7 - 10
Statement of Income and Retained Earnings
 
11
Balance Sheet
 
12
Notes to the Financial Statements
 
13 - 25


 
COOPERSALE HALL SCHOOL LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024

Introduction
 
The directors present their strategic report for the Company for the year ended 31 August 2024. The Company continued to trade as that of a provider of education services.

Business review
 
The Company continues to make use of its efficient system of resourcing the schools centrally. The Development Office has flourished with the Marketing Team acting as a strong department that oversees the marketing strategy for the Company, including oversight of the websites, apps, advertising and publicity. 
The marketing strategy, together with growing reputations in the local area, have helped the Group to attract more families and the school rolls have grown throughout the period. Turnover has increased over the period in line with projections.
Staffing costs increased in line with projections following the awarding of higher than usual pay rises to staff to help compensate for the reduced awards that were necessary during and following the Covid-19 pandemic.
Other central resources include accounting, operations, health and safety, maintenance, ICT technical support and infrastructure managing and secretarial. 
The Management Team comprises the Managing Principal (also main Director), Bursar, Education Principal, Operations Manager and ICT Manager. The Team meets formally at the start of each week to discuss various issues and generally strategise.
VAT (post 31 August 2024)
The new Labour government carried out its election proposal to add 20% VAT to school fees from January 2025. The Group secured a group registration from HMRC and announced in November 2024 that although VAT would need to be added to invoices for tuition and other activities from the Spring Term 2025, the Group would be subsidising invoices for the remainder of the academic year by reducing the fees by 4%. This facilitated a net increase of 16% for families. The Group’s fees remained at a far lower level than many of it’s competitor schools. The early signs following the implementation of the VAT have been very positive from families.
Facilities
During the academic year many of the internal facilities were refurbished, with rooms redecorated and recarpeted on a rolling programme.
At Coopersale Hall, Phase 1 of the building programme to open a new senior department on site was completed and the school welcomed the first cohort of 16 Year 7 pupils. New senior staff also joined the school from September 2023. 
Phase 1 was to convert the premises of a newly-purchased neighbouring residential property into specialist classrooms (Science Lab, prep room, Art/DT Studio and prep area, ICT suite, support rooms, offices, toilets). 
Phase 2 started in Summer 2024 to construct a new senior building in the grounds of the senior premises. This is anticipated to be completed in Summer 2025 so that the school will be well-placed to relocate senior pupils from Braeside, take existing pupils into the seniors and welcome new pupils to the school.
Technology
The Company continued to invest heavily in a range of virtual platforms for pupils of all ages in order to facilitate the virtual home learning programmes embedded into homework tasks and assessment/exam revision.

 
Page 1

 
COOPERSALE HALL SCHOOL LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024

Activities
An enhanced programme of holiday activities and weekend clubs was provided in the main breaks, which were very popular with parents and generated additional income.
Coffee Mornings
The programme of coffee mornings with parents and Mr Hagger at each school continued during the period. The discussions were seen as being very useful for both sides and subsequent actions helped to develop the schools.
Staffing
Beyond the normal routine staff movements, there was a change of Head at Coopersale Hall. The previous Head left during the summer and the Deputy Head stepped up into the role on a temporary basis for one academic year from September 2024.

Principal risks and uncertainties
 
The company's operations expose it to a variety of financial risks that include credit risks, liquidity risk and interest rate risk.
The company has in place a risk management programme that seeks to limit the adverse effect on the financial performance of the company by monitoring levels of debt finance and the related finance costs. The company does not use derivative financial instruments to manage interest rate costs, and as such no hedge accounting is applied.
Given the size of the company, the directors have not delegated the responsibility of monitoring financial risk management to a sub-committee of the board. The company’s finance department implements the policies set by the board of directors. The department have guidelines, agreed by the directors, to manage interest rate risk, credit risk and circumstances where it would be appropriate to use financial instruments to manage these.
Credit risk
All customers who wish to trade on credit terms are subject to credit verification procedures.
Liquidity risk
The company manages its cash and borrowing requirements in order to minimise the interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.
Interest rate risk
Interest bearing liabilities include only bank borrowing facilities on which interest is charged a base rate plus a fixed rate.
Competition
The main risk to the business is from competitor schools. However, most of the neighbouring preparatory schools are smaller than the schools within the Company and do not have the Company’s level of resources.
There are many large senior schools in the area, all with prep departments and some with pre-prep departments. Although some of these posed a risk when their pre-prep departments were first created, relatively few families decide to leave early.

Page 2

 
COOPERSALE HALL SCHOOL LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024

Financial key performance indicators
 
Annual turnover rose in 2023/2024. Staffing costs included an average 4% pay rise for staff that was applied from September 2024.
Other running costs and overheads have remained stable compared with the previous year.


This report was approved by the board on 5 August 2025 and signed on its behalf.



................................................
M O Hagger
Director

Page 3

 
COOPERSALE HALL SCHOOL LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2024

The directors present their report and the financial statements for the year ended 31 August 2024.

Principal activity

The company's principal activity continued to be that of the provision of education services.

Directors

The directors who served during the year were:

N O Hagger 
M A Hagger 
M O Hagger 

Results and dividends

The profit for the year, after taxation, amounted to £55,332 (2023 - £140,269).

The directors have declared a dividend of £Nil (2023 - £302,000).

Future developments

The main development has been the completion of Phase 1 of the Coopersale Hall senior development, followed by the commencement of Phase 2.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), 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 for the Company's financial statements 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 to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.

Page 4

 
COOPERSALE HALL SCHOOL LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024

Engagement with employees

The company places considerable value on the involvement of its employees and has continued to keep them informed on matters affecting them as employees and on the various factors affecting their current and future interest.

Disabled employees

Application for employment by disabled person are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled every effort is made to ensure that their employment with the group continues and that appropriate training is arranged.
It is the policy that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Post balance sheet events

The announcement was made at the start of November 2024 that Braeside would close from 31 August 2025. All staff were guaranteed positions within the Group, with no redundancies offered. All pupils were guaranteed places at the other schools in the Group, and many relocated during the school year in order to help with the integration into their new schools. 

Auditors

Under section 487(2) of the Companies Act 2006Haslers will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

This report was approved by the board on 5 August 2025 and signed on its behalf.
 





................................................
M O Hagger
Director

Page 5

 
COOPERSALE HALL SCHOOL LIMITED
 
 
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

The directors are responsible for preparing the Strategic Report, the Directors' Report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), 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 for the Company's financial statements 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 to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.

Page 6

 
COOPERSALE HALL SCHOOL LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COOPERSALE HALL SCHOOL LIMITED
 

Opinion


We have audited the financial statements of Coopersale Hall School Limited (the 'Company') for the year ended 31 August 2024, which comprise the Statement of Income and Retained Earnings, the Balance Sheet and the related notes, including a summary of significant accounting policiesThe 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 United Kingdom, including the Financial Reporting Council'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.


Page 7

 
COOPERSALE HALL SCHOOL LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COOPERSALE HALL SCHOOL LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur 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. 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 course of 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.


Opinion 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


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 Directors' Report.


We have nothing to report in respect of the following matters in relation to which 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 Directors' Responsibilities Statement set out on page 6, 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 is 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.


Page 8

 
COOPERSALE HALL SCHOOL LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COOPERSALE HALL SCHOOL LIMITED (CONTINUED)


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 an Auditors' Report 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.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the legal and regulatory frameworks that are applicable to the entity we determined that the most significant are those that had a direct effect on the determination of material amounts and disclosures in the financial statements.
We obtained an understanding of how the entity  are complying with those legal and regulatory frameworks by making enquiries of the management. We corroborated our enquiries through our review of documentation generated and assessing the extent of compliance with the relevant laws and regulations. 
We discussed among the audit engagement team regarding the opportunities, including management override of controls, that may exist within the entity for fraud and where fraud might occur in the financial statements. 
As a result of performing the above, we identified the greatest potential for material misstatements due to fraud are in the following areas, and our specific procedures performed to address these are described below:
The risk of management override of controls is the area where the financial statements were most susceptible to material misstatement due to fraud. In addition, the key principal risks related to potential weaknesses in the procurement system, control over banking and the existence of inappropriate journal entries to manipulate performance were also identified. 
Procedures performed to address these were as follows:
•  Identifying and assessing the effectiveness of controls management has in place to prevent and detect
 fraud, including known of suspected instances or non-compliance with laws and regulations and fraud.
•  Understanding how the management considered and addressed the potential for override of controls
 or other inappropriate influence over the financial reporting process.
•  Using analytical procedures to identify any unusual or unexpected relationships that may indicate risks of
 material misstatements due to fraud.
•  Assessing the appropriateness of accounting estimates and challenging any significant assumptions or   judgements made by management.
•  Incorporating testing of manual journal entires that were posted throughout the year. In particular we    focused on material journal entrties, journal entries posted with unusual account combinations, journal
 entries crediting turnover or cash, and journal entries with specific defined descriptions. These were 
 scrutinised for evidence of unusual entries. 
•  Evaluating the business rationale of any significant transactions that are unusual or outside of the normal  course of business.
Page 9

 
COOPERSALE HALL SCHOOL LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COOPERSALE HALL SCHOOL LIMITED (CONTINUED)




Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


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 Auditors' Report.


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 2006Our 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 an Auditors' Report 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.





Laura Ambrose BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of
Haslers
Chartered Accountants
Statutory Auditor
Old Station Road
Loughton
Essex
IG10 4PL

8 August 2025
Page 10

 
COOPERSALE HALL SCHOOL LIMITED
 
 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 AUGUST 2024

2024
2023
Note
£
£

  

Turnover
 4 
3,497,393
3,216,046

Cost of sales
  
(2,125,239)
(1,883,618)

Gross profit
  
1,372,154
1,332,428

Distribution costs
  
(706,212)
(642,227)

Administrative expenses
  
(577,703)
(492,534)

Operating profit
  
88,239
197,667

Interest payable and similar expenses
 8 
(32,112)
(15,244)

Profit before tax
  
56,127
182,423

Tax on profit
 9 
(795)
(42,154)

Profit after tax
  
55,332
140,269

  

  

Retained earnings at the beginning of the year
  
684,545
846,276

Profit for the year
  
55,332
140,269

Dividends declared and paid
 10 
-
(302,000)

Retained earnings at the end of the year
  
739,877
684,545

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of income and retained earnings.

The notes on pages 13 to 25 form part of these financial statements.

Page 11

 
COOPERSALE HALL SCHOOL LIMITED
REGISTERED NUMBER: 03524644

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 11 
78,422
83,327

Investments
 12 
600,100
600,100

  
678,522
683,427

Current assets
  

Debtors: amounts falling due within one year
 13 
3,116,844
2,208,395

Cash at bank and in hand
 14 
(1,759)
131

  
3,115,085
2,208,526

Creditors: amounts falling due within one year
 15 
(2,579,978)
(1,732,551)

Net current assets
  
 
 
535,107
 
 
475,975

Total assets less current liabilities
  
1,213,629
1,159,402

Provisions for liabilities
  

Deferred tax
 17 
(19,056)
(20,161)

  
 
 
(19,056)
 
 
(20,161)

Net assets
  
1,194,573
1,139,241


Capital and reserves
  

Called up share capital 
  
150,232
150,232

Share premium account
  
289,000
289,000

Capital redemption reserve
  
15,464
15,464

Profit and loss account
  
739,877
684,545

  
1,194,573
1,139,241


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 August 2025.




................................................
M O Hagger
Director

The notes on pages 13 to 25 form part of these financial statements.

Page 12

 
COOPERSALE HALL SCHOOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Coopersale Hall School Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 03524644. The address of the registered office is 6 Albion Hill, Loughton, Essex, IG10 4RA. The company's principal activity continued to be that of the provision of education services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 Company's financial statements are rounded to the nearest Pound.
The Company's functional currency is GBP.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A.

This information is included in the consolidated financial statements of Oak Tree Schools Holdings Limited as at 31 August 2024 and these financial statements may be obtained from Companies House.

 
2.3

Going concern

The company incurred a profit before tax of £56,127 (2023 - £182,423) in the year and have net assets at the year end totalling £1,194,573 (2023 - £1,139,241). The financial statements have been prepared on a going concern basis.
The financial statements have been prepared on a going concern basis as the director is satisfied that the business has access to sufficient cash resources to be considered a going concern for at least the 12 months following signing of these financial statements. Coopersale Hall School will continue to receive financial support from Oak Tree School Holdings Limited for at least 12 months from the date from which support may be required as stated in a letter of support which has been provided and signed on the date of signing these financial statements.

Page 13

 
COOPERSALE HALL SCHOOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.4

Turnover

Turnover is recognised by the Company in respect of services supplied. This is principally made up of income from tuition fees. Turnover is recognised for the period the tuition fees relate to and to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discount, rebates, value added tax and other sales taxes.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss 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.

Page 14

 
COOPERSALE HALL SCHOOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
over the lease term
Fixtures and fittings
-
15%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 15

 
COOPERSALE HALL SCHOOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

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 measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other 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.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 16

 
COOPERSALE HALL SCHOOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.16

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.17

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.

Page 17

 
COOPERSALE HALL SCHOOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.
Judgements, estimates and assumptions are continually evaluated. Revisions to accounting estimates are recognised in the period in which the esimate is revised where the revision affects only that period, or in the period of revisions and future perios where the revision affects both the current and future periods.
The directors do not believe that there have been judgements (apart from those involving estimates) made in the process of applying the above accounting policies that have had a significant effects on the amounts recognised in the financial statements.


4.


Turnover

All turnover arose within the United Kingdom.


5.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
8,450
8,300

The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.


6.


Employees

Staff costs, including directors' remuneration, were as follows:


2024
2023
£
£

Wages and salaries
2,076,886
1,894,221

Social security costs
191,005
174,705

Cost of defined contribution scheme
119,353
103,075

2,387,244
2,172,001


The average monthly number of employees, including directors, during the year was 72 (2023 - 70).

Page 18

 
COOPERSALE HALL SCHOOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
40,000
40,000



8.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
32,112
15,244

Page 19

 
COOPERSALE HALL SCHOOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
1,900
26,233


Deferred tax


Origination and reversal of timing differences
(1,105)
15,921


Tax on profit
795
42,154

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - the same as) the standard rate of corporation tax in the UK of 25% (2023 - 21.5%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
56,127
182,423


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 21.5%)
14,032
39,221

Effects of:


Other timing differences leading to an increase (decrease) in taxation
(601)
2,933

Capital allowances for year in excess of depreciation
1,106
-

Group relief
(12,637)
-

Deferred tax
(1,105)
-

Total tax charge for the year
795
42,154


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


10.


Dividends

2024
2023
£
£


Dividends paid
-
302,000

Page 20

 
COOPERSALE HALL SCHOOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

11.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost 


At 1 September 2023
397,042
254,371
651,413


Additions
-
8,934
8,934


Disposals
(397,042)
(153,321)
(550,363)



At 31 August 2024

-
109,984
109,984



Depreciation


At 1 September 2023
397,042
171,044
568,086


Charge for the year on owned assets
-
13,839
13,839


Disposals
(397,042)
(153,321)
(550,363)



At 31 August 2024

-
31,562
31,562



Net book value



At 31 August 2024
-
78,422
78,422



At 31 August 2023
-
83,327
83,327

Page 21

 
COOPERSALE HALL SCHOOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

12.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 September 2023
600,100



At 31 August 2024
600,100





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Oaklands School Limited
Education services
Ordinary
100%

The aggregate of the share capital and reserves as at 31 August 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

Oaklands School Limited
608,145
(167,027)

Page 22

 
COOPERSALE HALL SCHOOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

13.


Debtors

2024
2023
£
£


Trade debtors
568,811
84,425

Amounts owed by group undertakings
2,435,743
2,013,062

Other debtors
85,000
85,309

Prepayments and accrued income
27,290
25,599

3,116,844
2,208,395


Other debtors due within one year includes amounts relating to a loan advanced from the Employee Benefit Trust (EBT) of £85,000 (2023 - £85,000) that was established in the year ended 31 August 2010.


14.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
(1,759)
131

Less: bank overdrafts
(493,779)
(458,867)

(495,538)
(458,736)



15.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
493,779
458,866

Payments received on account
1,390,542
749,399

Trade creditors
235,499
318,352

Amounts owed to group undertakings
346,846
133,334

Corporation tax
28,133
26,233

Other taxation and social security
73,712
35,008

Other creditors
467
469

Accruals and deferred income
11,000
10,890

2,579,978
1,732,551


The borrowings of the group that amount to £2,701,890 (2023 - £2,483,377) are secured by cross guarantees and debentures by and between Oaklands School Limited, Coopersale Hall School Limited, Braeside School Limited, Normanhurst School Limited and Oak Tree Schools Holdings Limited.

Page 23

 
COOPERSALE HALL SCHOOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

16.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
(1,759)
131

Financial assets that are debt instruments measured at amortised cost
3,040,499
2,182,796


Financial liabilities


Financial liabilities measures at amortised cost
(593,813)
(463,045)


Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.


17.


Deferred taxation




2024


£






At beginning of year
(20,161)


Charged to the profit or loss
1,105



At end of year
(19,056)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(19,056)
(20,161)


18.


Pension commitments

The Company operates a defined contributions pension scheme. 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 amounted to £108,219 (2023 - £103,075).
Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date.

Page 24

 
COOPERSALE HALL SCHOOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

19.


Commitments under operating leases

At 31 August 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
7,142
7,142

Later than 1 year and not later than 5 years
12,983
26,411

20,125
33,553


20.


Related party transactions

The Company has taken advantage of the exemption from the requirement to disclose transactions with wholly owned Group companies.


21.


Controlling party

The ultimate parent company is Oak Tree Schools Holdings Limited, a company registered in England and Wales, United Kingdom. The ultimate controlling party is The Hagger Family due to its majority shareholding.
Consolidated financial statements for Oak Tree Schools Holdings Limited can be obtained from 6 Albion Hill, Loughton, Essex, IG10 4RA.

 
Page 25