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Registered number:
FOR THE YEAR ENDED 31 AUGUST 2024
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COOPERSALE HALL SCHOOL LIMITED
COMPANY INFORMATION
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COOPERSALE HALL SCHOOL LIMITED
CONTENTS
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COOPERSALE HALL SCHOOL LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
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.
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.
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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.
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.
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COOPERSALE HALL SCHOOL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
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.
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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.
The directors who served during the year were:
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).
The main development has been the completion of Phase 1 of the Coopersale Hall senior development, followed by the commencement of Phase 2.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
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 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.
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COOPERSALE HALL SCHOOL LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
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.
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.
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.
Under section 487(2) of the Companies Act 2006, Haslers 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
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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 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.
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COOPERSALE HALL SCHOOL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COOPERSALE HALL SCHOOL LIMITED
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 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).
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.
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.
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COOPERSALE HALL SCHOOL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COOPERSALE HALL SCHOOL LIMITED (CONTINUED)
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 Report. 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. 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.
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.
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.
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COOPERSALE HALL SCHOOL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COOPERSALE HALL SCHOOL LIMITED (CONTINUED)
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.
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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.
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 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.
for and on behalf of
Chartered Accountants
Statutory Auditor
Old Station Road
Essex
IG10 4PL
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COOPERSALE HALL SCHOOL LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 AUGUST 2024
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COOPERSALE HALL SCHOOL LIMITED
REGISTERED NUMBER: 03524644
BALANCE SHEET
AS AT 31 AUGUST 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 13 to 25 form part of these financial statements.
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COOPERSALE HALL SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
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
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:
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.
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.
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COOPERSALE HALL SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
2.Accounting policies (continued)
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COOPERSALE HALL SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
2.Accounting policies (continued)
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:
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.
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COOPERSALE HALL SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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COOPERSALE HALL SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
2.Accounting policies (continued)
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.
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COOPERSALE HALL SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
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.
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COOPERSALE HALL SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
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COOPERSALE HALL SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
There were no factors that may affect future tax charges.
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COOPERSALE HALL SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
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COOPERSALE HALL SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
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COOPERSALE HALL SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
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COOPERSALE HALL SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
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.
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COOPERSALE HALL SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
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.
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